Springs Church
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.
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.
88%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 88 cents are available for programs.
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OVERVIEW
About Springs Church:
Springs Church (also known as Springs of Living Water Centre) is a 2-star rated charity. It has a D+ results reporting grade, which is below average. It does not post its most recent financial statements in a timely manner. For every dollar donated to the charity, 88 cents are available to go to the cause, which is within Ci’s reasonable range.
Founded in 1980, Springs Church (also known as Springs of Living Water Centre) is committed to sharing Jesus' message with love, acceptance, and forgiveness. The main church is in Winnipeg, with additional sites in Calgary and Winnipeg’s Inner City. Springs Church offers ministry services and supports global missions.
This review is based on Springs Church’s most recent annual report and audited financial statements from F2022. Spring Church’s most recent T3010 filing with the CRA is for F2023, but was not used. The charity reports it allocated 87% of program spending to in-house ministries and buildings, and 13% to missions in F2022.
Springs Church holds weekly Sunday services at all its locations. During these services, the kids and youth can engage with Jesus through Bible lessons, singing, and group activities. In F2022, Springs Church also provided these programs through online videos, totalling 3,000 watch time hours and 24,446 views. The charity reports having 996 first-time guests enter these programs throughout the year.
Springs Church runs various education programs for its members. It funds the Springs Christian Academy, a private Christian school in Winnipeg that offers classes from preschool to grade 12. The charity also runs Springs College, a nine-month full-time program with life skills and religious studies courses.
Springs Church currently funds various missions in Canada and around the world. In Canada, its Inner City mission brings religion to vulnerable families in low-income Winnipeg neighbourhoods. The Church reports helping over 500 families every week through its food bank and supporting 15 to 20 families weekly with emergency food hampers. Internationally, Springs Church funds Watoto, a Christian charity working in Uganda, and Love India, the charity arm of Victory Churches of India. The Church also funds Miracle Channel, a televised “mission” that broadcasts services 24/7 in Canada.
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Results and Impact
The charity reports it increased its Springs Kids Youtube channel subscribers by nearly 50% since F2021, now 937.
Springs Church also reports an orphanage in Delhi as part of the Love India mission provides a caring home for over 60 girls at risk of abuse and destitution.
While Ci highlights these key results, they may not be a complete representation of Springs Church’s results and impact. Charity Intelligence has not yet rated Springs Church on impact. This shows as (n/r).
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Finances
Springs Church received $10.2m in donations in F2022. It also received $4k in provincial government funding. The charity spent $8.0m on its programs and grants (60% of revenues) in F2022.
Administrative costs are 12% of revenues (less investment income), and the charity does not report fundraising costs. For every dollar donated to the charity, 88 cents are available to go to the cause. This is within Ci’s reasonable range for 65 to 95 cents.
Springs Church has $5.6m in reserve funds. These are the charity’s cash and investments. The charity no longer has long-term debt in F2022, meaning Springs Church paid it off last year. Springs Church can cover eight months of current annual program costs with its current reserves.
In F2022, Springs Church recorded a surplus of $3.5m (25% of revenues) and spent $268k on capital expenditures.
This charity report is an update that has been sent to Springs Church for review. Changes and edits may be forthcoming.
Updated on August 12, 2024 by Alexia Tudose.
Financial Review
Fiscal year ending December
|
2022 | 2021 | 2020 |
---|---|---|---|
Administrative costs as % of revenues | 12.1% | 14.1% | 16.1% |
Fundraising costs as % of donations | 0.0% | 0.0% | 0.0% |
Total overhead spending | 12.1% | 14.1% | 16.1% |
Program cost coverage (%) | 69.3% | 29.5% | (5.1%) |
Summary Financial StatementsAll figures in $000s |
2022 | 2021 | 2020 |
---|---|---|---|
Donations | 10,236 | 11,370 | 9,726 |
Government funding | 4 | 0 | 572 |
Business activities (net) | 690 | 692 | 693 |
Investment income | 120 | 17 | 12 |
Other income | 2,310 | 206 | 197 |
Total revenues | 13,360 | 12,284 | 11,200 |
Program costs - Canada | 7,345 | 6,646 | 6,720 |
Grants | 664 | 558 | 541 |
Administrative costs | 1,607 | 1,732 | 1,806 |
Fundraising costs | 0 | 0 | 0 |
Other costs | 256 | 161 | 150 |
Total spending | 9,872 | 9,097 | 9,216 |
Cash flow from operations | 3,488 | 3,187 | 1,984 |
Capital spending | 268 | 559 | 828 |
Funding reserves | 5,552 | 2,125 | (373) |
Note: Ci adjusted for deferred donations, affecting revenues by ($174k) in F2022, ($248k) in F2021, and ($279k) in F2020. Springs Church’s provincial government funding was not reported in its audited financial statements, but was reported in its T3010 filings. In F2022, Springs Church received $2.3m in Other revenue, a 168% increase from $206k in F2021. Ci excluded loss on sale of capital assets, affecting revenue by $nil in F2022 and F2021, and ($31k) in F2020. Related party transactions billed to The Miracle Channel for expenses incurred by Springs Church was removed from program costs. This affected expenses by ($84k) in F2022, ($76k) in F2021, and ($73k) in F2020. Donations to The Miracle Channel were removed from grants, affecting expenses by ($45k) in F2022, ($71k) in F2021, and ($69k) in F2020.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
3 |
$160k - $200k |
0 |
$120k - $160k |
2 |
$80k - $120k |
5 |
$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
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