Indwell Community Homes is a 5-star, financially transparent charity with an above-average A- results reporting grade. Its low reserves of cash and investments indicate a need for funding. Its 14% total overhead spending means that for every dollar donated, 86 cents are available to go to the cause.

Founded in 1970, Indwell Community Homes (Indwell) is a Christian charity that builds and operates affordable apartments in seven cities across Southern Ontario. Indwell centralizes mental health counselling, meals, nursing, drug rehabilitation, and other support services at its apartments. Indwell also helps its clients transition to independent housing with the help of other charities, municipal governments, and other stakeholders. According to Indwell, integrating wraparound supports in one building helps clients live independently.

Indwell’s housing program involves both building new and operating existing apartment buildings. Charity Intelligence (Ci) estimates it spent $19.0m cash on this program in the March 2024 fiscal year (F2024).

Housing is the charity’s only program. In F2024, Indwell built 132 new affordable housing units. The charity currently houses over 1,290 tenants in 28 buildings across 1,250 units (554 units in Hamilton, 182 in London, 141 in Woodstock, 114 in Waterloo, 108 in Mississauga, 91 in Simcoe, and 60 in St. Thomas). Indwell also plans to own 11 new buildings (492 units) in the future. According to the charity, those living in its apartments receive help grocery shopping, booking medical appointments, setting goals, and other tasks related to living independently.

Indwell Community Homes' audited financial statements follow line-item costing, meaning it does not clearly report which expenses relate to program, administrative, and fundraising activities. This is not a best practice.

In F2023, Indwell changed its year-end from August to March. Its F2023 financial numbers only represent seven months. Its F2024 financials have not restated its F2023 information to cover the full 12 months.

In F2024, Indwell received $11.4m in donations and special events fundraising revenue (20% of total revenue) and $34.9m worth of government funding (61% of total revenue). It also received $10.5m worth of rental income from its clients (18% of total revenue).

Administrative costs are 5% of total revenue less investment income and fundraising costs are 9% of donations. Its 14% total overhead spending means that for every dollar donated, 86 cents are available to go to the cause.

Indwell spent $19.0m cash on its programs in F2024. It is involved in five capital campaigns planned on financing new housing development projects and spent $28.1m on capital spending in F2024.

At the end of F2024, Indwell had $3.3m gross and ($85.1m) net reserve funds. Ci backed out $88.4m worth of interest-bearing debt related to outstanding mortgages, bank loans, and lines of credit from its gross reserve funds. Excluding debt, its reserves can cover 9% or just over one month of its annual program spending. This indicates a need for funding.

Updated by Julian Dranitsaris on June 11, 2025. Comments and correction may be forthcoming.

Questions? Email jdranitsaris@charityintelligence.ca