Aga Khan Foundation Canada

199 Sussex Drive
Ottawa, ON K1N 1K6
CEO: Khalil Shariff
Board Chair: Riaz Ahmed

Charitable Reg. #:10007 2586 RR0001

STAR RATING

Ci's Star Rating is calculated based on the following independent metrics:

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FINANCIAL TRANSPARENCY

Audited financial statements available only upon request.

C+

RESULTS REPORTING

Grade based on the charity's public reporting of the work it does and the results it achieves.

Low

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.

95%

CENTS TO THE CAUSE

For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 95 cents are available for programs.



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Programs

About Aga Khan Foundation Canada:

Founded in 1980, Aga Khan Foundation Canada (AKFC) is an international development network of charities operating around the world. Aga Khan Foundation was founded in 1967 by Shah Karim Al Hussaini, Aga Khan IV, the 49th Heredity Iman of the Shia Ismaili Muslims. 

Aga Khan Foundation Canada raises money to focus on social, economic and cultural development to improve living conditions and opportunities for the poor in 15 countries in Africa and Asia. The charity takes a regional approach by aiming to develop and improve the quality of life of regions as a whole. The charity has a vision of equality in which everyone can reach their full potential. 

Aga Khan Foundation Canada’s international development work is financed by public support, the Canadian government, collaborations with other development agencies, and direct support from the Aga Khan Foundation in Geneva, Switzerland. 

In F2019, Aga Khan Foundation Canada ran a total of 15 projects covering the following areas: civil society, economic inclusion, educating, environment and climate change, food security and nutrition, gender equality, and health.

Global Affairs Canada (GAC) works in partnership with Aga Khan Foundation Canada. One of Aga Khan Foundation’s largest current projects, Health Action Plan for Afghanistan (HAPA), running from 2015 to 2020, has a budget of $75m, including $55m from GAC, $13m from Agence française de développement, and $7m from AKFC. The project aims to improve the health in three provinces, with a focus on women of reproductive age and children under five. For this project, the charity reports that four health facilities were renovated and 617 mobile immunization and outreach sessions were conducted in F2018. Also, 4,020 children and 3,301 pregnant women were enrolled into a health surveillance program.

Ci was unable to find output and beneficiary data for the charity’s qualified donees.

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Results and Impact

AKF’s Aswan Skills Development Program in Egypt began in 2015 and will end in 2020. As of March 2020, the project has resulted in a 35% increase in the number of youth who have acquired new individual assets and a 33% increase in the number of employed graduates who work in green jobs. 

While Ci highlights these key results, they may not be a complete representation of Aga Khan Foundation Canada’s results and impact.

Charity Intelligence has given Aga Khan Foundation a Low impact rating based on demonstrated impact per dollar spent.

Impact Rating: Low

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Finances

Aga Khan Foundation Canada is a Major 100 charity, meaning it is one of Canada’s largest in terms of donations. Its policy is not to be financially transparent. Rather than posting its audited financial statements on its website, Aga Khan Foundation Canada requires donors to contact it directly to receive this public information. Aga Khan has been reviewing this policy since 2011. Charity Intelligence has received its audited financial statements for this analysis; however, Aga Khan Foundation has asked that we not share these documents by publicly posting them. Of Canada's largest charities, the Major 100, Aga Khan Foundation Canada is one of seven that are not financially transparent.

The charity received $53.0m in donations F2019. Aga Khan Foundation Canada also received $28.7m in government funding and $8.2m in other revenue (donations from other agencies and AKF). Administrative costs are 5% of revenues and the charity does not report any fundraising costs. For every dollar donated, 94.8 cents go to the cause. This is just within Ci’s reasonable range for overhead spending. Funding reserves of $167.2m can cover 1.9 years of annual program costs.

AKFC states that administration and fundraising costs are funded through a combination of a grant from the Aga Khan Foundation in Geneva, Switzerland, overhead and direct cost recoveries from institutional donors, corporate sponsorships, and interest income. However, the charity’s F2018 T3010 filing reports fundraising costs of $2.1m. As well, while the charity does not report grants on its audited financial statements, it reports grants to qualified donees of $82.1m on its T3010 filing. The filing does not include a list of qualified donees. The Aga Khan Foundation Canada’s 2018 T3010 reports $34.6m transferred to Aga Khan Foundation in Geneva, Switzerland, of which $25.9m are from Global Affairs Canada. 

Learn more about the private Aga Khan Foundation in Switzerland

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

Updated on August 26, 2020 by Tenzin Shomar.

Financial Review


Financial Ratios

Fiscal year ending December
201920182017
Administrative costs as % of revenues 5.2%3.0%2.9%
Fundraising costs as % of donations 0.0%0.0%0.0%
Total overhead spending 5.2%3.0%2.9%
Program cost coverage (%) 189.9%127.2%121.0%

Summary Financial Statements

All figures in $000s
201920182017
Donations 52,993111,80982,580
Goods in kind 0023,050
Government funding 28,71431,35543,351
Investment income 3,0902,388979
Other income 8,20618,46633,527
Total revenues 93,003164,018183,487
Program costs - International 86,579122,88491,171
Program costs - Canada 1,4802,0024,750
Administrative costs 4,6864,8785,228
Fundraising costs 000
Total spending 92,744129,764101,148
Cash flow from operations 25834,25382,339
Capital spending 1,397(532)(350)
Funding reserves 167,228158,901116,061

Note: All non-government and non-Canadian donation revenues are included in other income.

Salary Information

Full-time staff: 76

Avg. Compensation: $91,610

Top 10 staff salary range:

$350k +
2
$300k - $350k
0
$250k - $300k
0
$200k - $250k
5
$160k - $200k
1
$120k - $160k
1
$80k - $120k
1
$40k - $80k
0
< $40k
0

Information from most recent CRA Charities Directorate filings for F2018

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Comments & Contact

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Charity Contact

Website: www.akfc.ca
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 613-237-2532

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