Aga Khan Foundation Canada

199 Sussex Drive
Ottawa, ON K1N 1K6
CEO: Khalil Z. 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.

B

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.

97%

CENTS TO THE CAUSE

For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 97 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 organization that is part of the global Aga Khan Development Network. AKFC focuses 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. AKFC’s work centers on health, education, gender equality, economic development, food, community leadership, and strategies to cope with environment and climate change. 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 F2018, Aga Khan Foundation Canada ran: 11 health projects including public health awareness, training of health professionals, and health facility improvement; 9 education programs including training of teachers and classroom improvement; 13 gender equality projects including workshops and equal opportunity promotion; 5 economic inclusion projects including savings groups and financial services to support women and youth entrepreneurs; 3 food projects including training of farmers and collaboration with governments to develop reliable food systems; 3 civil society projects; 3 environment and climate change projects; and 1 project that engages Canadians on global issues and development.  

Global Affairs Canada (GAC) works in partnership with Aga Khan Foundation Canada. One of Aga Khan Foundation’s largest current projects, Partnership for Advancing Human Development in Africa and Asia (PAHDAA), running from 2012 to 2018, has a budget of $100m, including $75m from GAC and $25m from AKFC. The project aims to tackle the root causes of poverty in Africa and Asia. For this project, the charity reports: 32,349 health professionals were trained in health promotion; 368,000 women received maternal health care; 330,000 children got a better education; and 15 research studies on health, education, early child development were funded.  

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Results and Impact

Aga Khan Foundation Canada’s PAHDAA project ended in 2018, benefitting an estimated 1 million people across all 15 countries AKFC operates in. The project resulted in: a 1%-15% increase in the rate of women who had their babies delivered by a skilled healthcare provider; a 5%-17% increase in the rate of women who delivered in a health facility; a 8%-12% increase in literacy rates in children; and a 2%-15% increase in numeracy rates in children.  

AKF’s Projet d’amélioration de l’accès à des services éducatifs de qualité project in Mali resulted in a 16% increase in the rate of primary school education. AKF’s Enhancing Employability And Leadership For Youth project in Pakistan ended in 2017 and resulted in: a PKR 12,936 increase in monthly earnings for participants, a 28.2% increase in the number of females employed and a 6.4% increase in the number of men employed, and a 34.1% increase in the number of women who have sole decision-making power.  

AKF’s Aswan Skills Development Program in Egypt began in 2015 and will end in 2020. So far, the project has resulted in: a 35% increase in the number of youth who have acquired new individual assets, a 53% increase in the number of graduates who attain improved employment 12 months after training program, and a 33% increase in the number of employed graduates who work in green jobs. 

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Finances

Aga Khan Foundation Canada is a Major 100 charity with donations of $111.8m in 2018. Administrative costs are 3% of revenues (excluding investment income). The charity does not report fundraising costs in its 2018 audited financial statements. AKFC states that all fundraising costs are fully funded through 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 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.  

For every dollar donated, 97 cents go to AKFC’s programs, which is within Ci’s reasonable range for overhead spending. AKFC has $158.9m in funding reserves, resulting in a program cost coverage ratio of 127%. This coverage means that the charity can cover 1.3 years of program costs using existing funding reserves. In addition, AKFC's audited financial statements report AKFC has pledges of support for $199m (2017 - $266m) that will be recorded when received. 

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 July 9, 2019 by Caroline McKenna. 

Financial Review


Financial Ratios

Fiscal year ending December
201820172016
Administrative costs as % of revenues 3.0%2.9%4.2%
Fundraising costs as % of donations 0.0%0.0%0.0%
Total overhead spending 3.0%2.9%4.2%
Program cost coverage (%) 127.2%121.0%75.7%

Summary Financial Statements

All figures in $000s
201820172016
Donations 111,80982,58028,908
Goods in kind 023,0500
Government funding 31,35543,35148,966
Investment income 2,388979857
Other income 18,46633,52740,083
Total revenues 164,018183,487118,844
Program costs 124,88695,92198,716
Administrative costs 4,8785,2284,894
Fundraising costs 000
Total spending 129,764101,149103,610
Cash flow from operations 34,25382,33915,234
Capital spending (532,361)3,137,57025,348,500
Funding reserves 158,901116,06174,733

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
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