Food Bank of Waterloo Region
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.
A
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.
77%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 77 cents are available for programs.
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OVERVIEW
About Food Bank of Waterloo Region:
Food Bank of Waterloo Region is a 3-star charity. It has a results reporting grade of A which is above average. For every dollar donated, 77 cents are available to go towards the cause. Its reserve funds can cover seven years and six months of annual program costs.
Founded in 1980, the Food Bank of Waterloo Region (FBWR) obtains and distributes foods to the Waterloo community with the aim of having no one go hungry. In Waterloo, one in eight households struggle to put food on the table. That number is up from one in ten households in 2023. In fiscal 2024 (year ended June), FBWR spent $2.4m on its program: Food Assistance Network. This is a 79% increase from the amount spent on programs in F2023.
The Food Assistance Network is the charity’s main program. It is a network of 54 organizations and 132 food assistance programs. In F2024 the charity reports distributing more than 8.9 million pounds of fresh, frozen, and non-perishable food across the Network, a 31% increase compared to the year before. In F2024, FBWR distributed 186,840 hampers that helped 73,615 unique individuals. Out of the total unique individuals helped, 34% were between the ages of 0-17. In F2024, Food Bank of Waterloo Region served 1,208,659 community meals.
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Results and Impact
In F2024, Food Bank of Waterloo Region distributed 8.9 million pounds of food to 73,615 individuals. This is a 31% increase from the amount of food distributed in F2023. In F2024, 41% of the food distributed was fruits and vegetables.
While Ci highlights these key results, they may not be a complete representation of Food Bank of Waterloo Region’s results and impact. This charity is not yet rated on impact (n/r).
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Finances
Food Bank of Waterloo Region’s financial statements follow line-item costing. This means it does not properly disclose which expenses relate to programming, administrative, and fundraising activities. This is not a best practice.
In F2024, FBWR received $10.1m in donations, up 26% from the $8.1m received in F2023. In F2024, Food Bank of Waterloo Region received $28.0m in donated goods. This represents 70% of total revenues. In F2024, administrative costs are 8% of total revenues (less investment income) and fundraising costs are 15% of total donations. For every dollar donated, 77 cents are available to go towards the cause. This is within Ci’s reasonable range for overhead spending.
In F2024, Food Bank of Waterloo Region had $18.2m in its reserve funds. This is enough to cover seven years and six months of annual program costs.
Profile updated on July 16, 2025 by Abby Stout.
Financial Review
Fiscal year ending June
|
2024 | 2023 | 2022 |
|---|---|---|---|
| Administrative costs as % of revenues | 7.9% | 10.1% | 5.6% |
| Fundraising costs as % of donations | 14.9% | 17.7% | 20.4% |
| Total overhead spending | 22.8% | 27.8% | 26.0% |
| Program cost coverage (%) | 754.5% | 1,112.2% | 1,125.1% |
Summary Financial StatementsAll figures in $000s |
2024 | 2023 | 2022 |
|---|---|---|---|
| Donations | 10,150 | 8,055 | 7,973 |
| Goods in kind | 28,011 | 20,093 | 17,177 |
| Government funding | 1,122 | 744 | 744 |
| Investment income | 930 | 418 | (6) |
| Total revenues | 40,212 | 29,309 | 25,888 |
| Program costs | 2,417 | 1,351 | 1,143 |
| Donated goods exp | 28,011 | 20,093 | 17,177 |
| Administrative costs | 3,098 | 2,919 | 1,462 |
| Fundraising costs | 1,514 | 1,422 | 1,626 |
| Other costs | 1,743 | 1,535 | 202 |
| Total spending | 36,782 | 27,320 | 21,610 |
| Cash flow from operations | 3,430 | 1,989 | 4,278 |
| Capital spending | 418 | 252 | 204 |
| Funding reserves | 18,238 | 15,023 | 12,861 |
Note: DEFERRED REVENUE: To report on a cash basis, Ci adjusted for deferred donations. This affected total revenues by $84k in F2024, ($31k) in F2023, and ($31k) in F2022. COVID RESPONSE: Ci adjusted for revenue relating to COVID 19. This affected total revenues by $nil in F2024, ($842k) in F2023, and ($1.0m) in F2022. LINE-ITEM COSTING: FBWR uses line-item costing, so Ci used the charity’s T3010 filing with the CRA to determine program and administrative costs. There was a rounding error from the T3010 that Ci reconciled for affecting total expenses by $1 in F2024, $nil in F2023, and $3 in F2022.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
2 |
$120k - $160k |
1 |
$80k - $120k |
7 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2024
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Comments & Contact
Comments added by the Charity:
Learn More:
FBWR F2024 Annual Report
FBWR Hunger in Waterloo Report
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 519-743-5576