Mustard Seed Street Church
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✖
FINANCIAL TRANSPARENCY
Audited financial statements available only through official request for information from Charities Directorate.
D+
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.
93%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 93 cents are available for programs.
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OVERVIEW
About Mustard Seed Street Church:
Mustard Seed Street Church is a 2-star charity. It has a D+ in results reporting, as it lacks information on its programs and their results. The charity is not financially transparent. Before you give, read Charity Intelligence’s report.
Founded in 1975, Mustard Seed Street Church (MSSC) is a Christian charity that helps adults and their families overcome hunger, homelessness, and addiction. The charity reports that 50,000 individuals living in Capital Regional District in Vancouver Island are food insecure. Additionally, MSSC reports that 31.8% of BC Food Bank users are children and youth under 18.
The charity operates a food bank and food rescue project. As part of the food rescue project, Mustard Seed Street Church works with local retailers and grocers to redistribute foods that would have otherwise resulted in waste. The Mustard Seed Street Church receives approximately 60,000 lb of food each week and 2,500 lb of dairy and produce daily.
MSSC also operates an addictions recovery program at Hope Farm Healing Centre, a family center, and hospitality programs. In addition, the charity runs traditional church services at the Street Church.
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Finances
Mustard Seed Street Church received $5.0m in donations in F2021, an increase from $2.8m in F2020. Administrative costs are 4% of revenues (excluding investment income), and fundraising costs are 3% of donations. This means that MSSC spent 7% on overhead in F2021. For every dollar donated to the charity, 93 cents go to the cause, which is within Ci's reasonable range for overhead spending.
Mustard Seed Street Church has funding reserves of $3.7m which can cover one year and 9 months of annual program costs.
The charity’s audited financial statements are not publicly available. As such, Charity Intelligence has scored Mustard Seed Street Church as not financially transparent.
Charity Intelligence has sent an update of this report to Mustard Seed Street Church for review. Changes and edits may be forthcoming.
Updated on June 2, 2022 by Ann Lei.
Financial Review
Fiscal year ending March
|
2021 | 2020 | 2019 |
|---|---|---|---|
| Administrative costs as % of revenues | 3.7% | 5.2% | 4.4% |
| Fundraising costs as % of donations | 3.2% | 7.4% | 8.4% |
| Total overhead spending | 6.9% | 12.6% | 12.8% |
| Program cost coverage (%) | 179.9% | 58.6% | 23.9% |
Summary Financial StatementsAll figures in $000s |
2021 | 2020 | 2019 |
|---|---|---|---|
| Donations | 4,962 | 2,822 | 2,641 |
| Goods in kind | 0 | 0 | 831 |
| Government funding | 340 | 297 | 309 |
| Investment income | 0 | 0 | 0 |
| Other income | 168 | 149 | 235 |
| Total revenues | 5,470 | 3,268 | 4,016 |
| Program costs | 2,029 | 2,115 | 2,495 |
| Grants | 13 | 9 | 9 |
| Administrative costs | 200 | 171 | 175 |
| Fundraising costs | 160 | 209 | 222 |
| Other costs | 149 | 170 | 0 |
| Cash flow from operations | 2,921 | 594 | 1,115 |
| Capital spending | 216 | 2,015 | 1,269 |
| Funding reserves | 3,674 | 1,245 | 598 |
Note: Mustard Seed Street Church’s F2021 audited financial statements restated expenses by $29k, an immaterial amount. This restatement was not noted. Ci did not adjust for deferred revenues and deferred capital contributions in F2021, F2020, F2019, because the total amount was not considered material (less than 10%). Ci removed the amortization of deferred capital contributions related to capital assets ($57k in F2021 and $29k in F2020) from revenue. Ci reported government funding from the charity’s T3010 filing with the CRA and removed the revenue from donations in all three years. Ci took program, administrative, and fundraising costs from the charity’s T3010 filings with the CRA in all three years. Ci adjusted for amortization on a pro-rata basis, affecting expenses by ($192k) in F2021, ($171k) in F2020, and ($92k) in F2019. Ci removed interest and bank charges, and interest on long term debt from program costs.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
0 |
$80k - $120k |
2 |
$40k - $80k |
8 |
< $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
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250-953-1575