Wellspring Alberta
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✔+
FINANCIAL TRANSPARENCY
Audited financial statements for current and previous years 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.
79%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 79 cents are available for programs.
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OVERVIEW
About Wellspring Alberta:
Wellspring Alberta is a 3-star rated charity, with an average results reporting grade and reasonable overhead costs. It is financially transparent and with its current reserves it can cover just under five years of annual program costs.
Founded in 2006, Wellspring Alberta aims to address the emotional, social, and restorative needs of people living with cancer and their caregivers. Programs are free and available without referral. Wellspring Alberta is the union of Wellspring Calgary and Wellspring Edmonton that happened in August 2022. The charity offers its programs online and at three locations: Carma House, Randy O’Dell House, and Edmonton House.
Wellspring Alberta has four primary ‘wellness’ pillars: Educational, Expressive Arts, Movement & Meditation, and Self-care. The charity has programs catered to young adults as well as children. It also offers one-on-one sessions, bereavement programs, financial help programs, and speaker series. Anyone over 18 years old with cancer can become a Wellspring member for free to access all resources.
In 2022, Wellspring Alberta supported 2,500 people living with cancer. It offered over 70 programs in 2022, which members accessed over 30,000 times. Over 120 program leaders delivered the programs five to six days a week. The charity maintained over 50 partnerships and supported 90 communities throughout Alberta.
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Results and Impact
Wellspring Alberta conducts annual surveys on its members. In F2022, 83% of respondents agreed that Wellspring increased their emotional wellbeing, and 73% agreed that it increased their physical wellbeing. Furthermore, 84% reported feeling less isolated after participating at Wellspring Alberta.
While Ci highlights these key results, they may not be a complete representation of Wellspring Alberta’s results and impact. This charity is not yet rated on impact (n/r).
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Finances
In August 2022, Wellspring Calgary and Wellspring Edmonton merged to form Wellspring Alberta. The audited financial statements for F2022 represent the financial situation of the new entity. They also provide a combined statement of operations for F2021, integrating the F2021 financials of Wellspring Calgary and Wellspring Edmonton. As such, the F2022 and F2021 figures are not comparable to F2020 figures.
Wellspring Alberta received $3.3m in donations and special events revenue in F2022. Administrative costs are 10% of revenues and fundraising costs are 11% of donations. This results in a total overhead spending of 21%. For every dollar donated, 79 cents go to the cause. This is within Ci’s reasonable range for overhead spending.
Wellspring Alberta has $14.4m in reserve funds. These are the charity’s cash and investments. The charity has four years and nine months of annual program costs covered by its current reserves.
This charity report is an update that has been sent to Wellspring Alberta for review. Changes and edits may be forthcoming.
Updated on July 11, 2023 by Alessandra Castino.
Financial Review
Fiscal year ending December
|
2022 | 2021 | 2020 |
|---|---|---|---|
| Administrative costs as % of revenues | 9.8% | 9.6% | 6.5% |
| Fundraising costs as % of donations | 10.9% | 14.0% | 12.6% |
| Total overhead spending | 20.6% | 23.5% | 19.0% |
| Program cost coverage (%) | 474.3% | 660.9% | 836.0% |
Summary Financial StatementsAll figures in $s |
2022 | 2021 | 2020 |
|---|---|---|---|
| Donations | 3,070,131 | 2,215,644 | 2,106,449 |
| Government funding | 24,509 | 476,615 | 464,971 |
| Special events | 275,146 | 357,129 | 297,856 |
| Investment income | (1,155,774) | 1,229,148 | 1,028,113 |
| Other income | 24,309 | 16,344 | 1,523 |
| Total revenues | 2,238,321 | 4,294,880 | 3,898,912 |
| Program costs | 3,040,489 | 2,446,580 | 1,700,759 |
| Administrative costs | 330,963 | 292,807 | 185,160 |
| Fundraising costs | 363,604 | 359,632 | 302,462 |
| Total spending | 3,735,056 | 3,099,019 | 2,188,381 |
| Cash flow from operations | (1,496,735) | 1,195,861 | 1,710,531 |
| Capital spending | 66,511 | 57,494 | 194,868 |
| Funding reserves | 14,420,496 | 16,168,630 | 14,218,448 |
Note: Ci included realized and unrealized gains, affecting investment income by ($1.8m) in F2022, $542k in F2021 and $501k in F2020. Ci adjusted for deferred donations, affecting total revenues by ($496k) in F2022, ($313k) in F2021 and ($452k) in F2020. Ci excluded amortization of deferred contributions, decreasing revenues by $154k in F2022, $155k in F2021 and $111k in F2020. Ci included endowment contribution in donations, increasing revenues by $0 in F2022, $2k in F2021 and $2k in F2020.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
0 |
$80k - $120k |
7 |
$40k - $80k |
3 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2021
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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: 587-747-0260