Jewish Foundation of Greater Toronto
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✔
FINANCIAL TRANSPARENCY
Most recent Audited financial statements available on the charity’s website.
B-
RESULTS REPORTING
Grade based on the charity's public reporting of the work it does and the results it achieves.
n/r
DEMONSTRATED IMPACT
The demonstrated impact per dollar Ci calculates from available program information.
NEED FOR FUNDING
Charity's cash and investments (funding reserves) relative to how much it spends on programs in most recent year.
96%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 96 cents are available for programs.
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OVERVIEW
About Jewish Foundation of Greater Toronto:
Jewish Foundation of Greater Toronto is a 2-star rated charity. It has a below average results reporting grade and overhead costs outside of Ci’s reasonable range. The charity has $641.4m in reserve funds, of which $58.7m are donor endowed. Non-donor-endowed reserve funds can cover over a decade of annual program costs. Before you give, read Charity Intelligence’s report.
Jewish Foundation of Greater Toronto (previously United Jewish Welfare Fund of Toronto) collects donations and distributes grants to charities in Canada and Israel. The foundation aims to sustain Jewish people, enhance their lives, and strengthen the Jewish community. In F2022, the foundation distributed $52.2m worth of grants to over 700 organizations. In comparison, it granted $39.9m to over 350 organizations in F2021. Grantees include hospitals, food banks, Canadian universities, and Israeli foundations. The charity adds that in F2022, it had $648.8m assets under management, a 96% increase over five years. Jewish Foundation of Greater Toronto invests its pooled assets with the goal to produce long-term returns, with a reasonable level of risk. In F2022, its investment return after investment fees was ($39.9) million or -7.3%. The estimated average annual return since 2016 has been 3.3%.
In F2022, the charity’s grants went towards helping those affected by the war in Ukraine, supporting Holocaust survivors, making day school affordable and tackling antisemitism. The charity does not disclose how much it granted in each area.
Jewish Foundation of Greater Toronto works with the United Jewish Appeal of Greater Toronto. In F2017, significant changes were made to the corporate structure to increase the partnership’s efficiency. The United Jewish Appeal of Greater Toronto also controls 13 other organizations.
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Results and Impact
Charity Intelligence did not find any quantified outcomes on Jewish Foundation of Greater Toronto’s website. This may not be a complete representation of Jewish Foundation of Greater Toronto's results and impact.
This charity is not yet rated for impact (n/r).
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Finances
Jewish Foundation of Greater Toronto is not fully financially transparent. It only posts its most recent year of financial statements on its website.
Jewish Foundation of Greater Toronto received donations of $60.3m in F2022, a $57.7m drop compared with $118.1m in donations in F2021. Administrative costs are 2% of revenues (excluding investment income) and fundraising costs are 2% of donations. This results in overhead costs of 4%. For every dollar donated, 96 cents are available for programs, which is outside of Ci’s reasonable range for overhead spending.
The foundation has $641.4m in reserve funds, of which $58.7m are donor endowed. Excluding donor-endowed funds, the foundation could cover 11 years and ten months of grants at the F2022 level with reserves. The foundation reports a -4.7% investment return in F2022.
The charity does not report any employees on its CRA filings.
This charity report is an update that has been sent to Jewish Foundation of Greater Toronto for review. Changes and edits may be forthcoming.
Updated on August 25, 2023 by Victoria Allder.
Financial Review
Fiscal year ending June
|
2022 | 2021 | 2020 |
|---|---|---|---|
| Administrative costs as % of revenues | 2.5% | 1.0% | 0.7% |
| Fundraising costs as % of donations | 1.8% | 0.8% | 0.9% |
| Total overhead spending | 4.3% | 1.8% | 1.6% |
| Program cost coverage (%) | 1,182.8% | 1,597.5% | 1,090.9% |
Summary Financial StatementsAll figures in $000s |
2022 | 2021 | 2020 |
|---|---|---|---|
| Donations | 60,322 | 118,067 | 89,145 |
| Investment income | (39,912) | 80,676 | 13,143 |
| Total revenues | 20,410 | 198,743 | 102,288 |
| Program costs | 0 | 0 | 0 |
| Grants | 52,197 | 39,902 | 41,690 |
| Administrative costs | 1,491 | 1,217 | 600 |
| Fundraising costs | 1,108 | 889 | 788 |
| Other costs | 4,658 | 3,779 | 2,848 |
| Total spending | 59,454 | 45,787 | 45,926 |
| Cash flow from operations | (39,044) | 152,956 | 56,362 |
| Capital spending | 0 | 0 | 0 |
| Funding reserves | 641,383 | 649,244 | 481,471 |
Note: Ci accounted for the fair value changes in investments in the calculation of investment income, affecting investment income by ($52.2m) in F2022, $71.6m in F2021 and $4.2m in F2020. Ci reported administrative and fundraising costs from the charity's T3010 filings with CRA. Ci included investment counsel and custodial fees in other expenses. The charity's audited financial statements report different numbers for the fair value change in investments on its income statement and cash flow statement in F2022. Ci reported the amount on the cash flow statement.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
0 |
$80k - $120k |
0 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2022
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Comments & Contact
Comments added by the Charity:
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: (416) 635-2883