Myriad Canada is a 2-star charity. It is not financially transparent and has a C results reporting grade, which is below average. Its reported overhead spending is 1%, which is not within Ci’s reasonable range. Its reserve funds can cover program costs for nearly two years and four months, which is within Ci’s reasonable range.

Founded in 2017, Myriad Canada (formerly KBF CANADA) works with local organizations in the United States, Central and Latin America, Europe, Africa and Asia to implement charitable projects. These charitable projects focus on education advancement, poverty alleviation, health, arts, scientific research and the environment. Myriad Canada (MC) reports a large portion of the Southern African population comes from low-income households, which makes it challenging for them to access health services. The local education system in Benin faces many challenges, including overcrowded classrooms with more than 100 students, a lack of adequate infrastructure, a shortage of qualified teachers, and extreme household poverty.  

In 2024, MC spent $19.7m on its programs. Myriad Canada states that it currently manages about 60 projects worldwide in 28 countries. The charity does not provide a spending breakdown on its programs.

One project the charity runs is Scholarships for Girls in Sri Lanka. This project aims to help students go on to higher education in Sri Lanka. As of 2023, 30 students benefitted from a 12-month scholarship.

The charity also supports the Children’s Tumor Foundation (CTF) Research Program, which aims to discover new treatments for neurofibromatosis. Neurofibromatosis is a rare genetic disorder that leads to non-cancerous tumor growth in the nervous system and increases the risk of cancer. As of January 2025, the charity supports three research projects in Texas, Michigan and Syndey, Australia for the CTF Research Program.

Myriad Canada is not financially transparent. Its audited financial statements are not posted on its website but were provided when requested. MC’s audited financial statements follow line-item costing, which is not a financial reporting best practice. This means the charity did not provide a breakdown between program, administrative, and fundraising costs.

MC received $19.6m in donations in 2024, which is 80% of total revenue. This is an 82% increase from the $10.8m in 2023. In 2024, it spent $19.7m on its programs, which is 80% of total revenue. MC recorded a surplus of $4.6m (19% of revenue) in 2024.

MC spent $332k on administrative costs, which is 1% of revenue. The charity did not report fundraising costs. This means its total overhead spending is 1%. For every dollar donated to MC, 99 cents are available to go to the cause. This is not within Ci’s reasonable range of 65-95. Since overhead costs are below 5%, Ci reasons that the charity is either not spending enough on its total overhead costs, or it may not be disclosing these costs appropriately. 

MC has $45.3m in reserve funds (cash and investments). MC’s reserve funds can cover 230% or nearly two years and four months of its annual program costs. This is within Ci’s reasonable range.

This report is an update that has been sent to Myriad Canada for review. Changes and edits may be forthcoming.

Updated on July 8, 2025, by Leah DeFrancesco.