Backpack Buddies
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.
87%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 87 cents are available for programs.
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OVERVIEW
About Backpack Buddies:
Backpack Buddies is a four-star charity. It has an above-average results reporting score, is financially transparent, and has overhead costs within a reasonable range.
Founded in 2012 and officially named Community First Foundation, Backpack Buddies gives bags of food to children in need on Friday afternoons. Many children rely on school programs for meals, but these only run on weekdays. Backpack Buddies works to decrease food insecurity over weekends.
This charity essentially runs a single program distributing food to children across British Columbia.
Backpack Buddies talks with teachers and administrators to identify which children are in need. In F2022, the charity distributed 127,225 bags of food across 63 communities. The food in these bags could be used to make 1,195,739 meals. For F2022, the charity drove 40,500 kilometres around the province to give out food.
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Results and Impact
In F2022, Backpack Buddies distributed 639,125 pounds of food to 3,646 kids. Many of these children received bags of food each week.
While Ci highlights these key results, they may not be a complete representation of Community First Foundation’s results and impact. This charity is not yet rated on impact (n/r).
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Finances
In F2022, Backpack Buddies received $2.8m in Canadian donations. It also received $8k in government funding (less than 1% of total revenue). Administrative costs and fundraising costs are not reported separately on Community First Foundation’s audited financial statements, so Ci used the charity’s T3010 filing with the CRA to report these costs. Administrative costs are 5% of revenues (less investment income) and fundraising costs are 9% of donations. This results in total overhead spending of 13%. For every dollar donated, 87 cents go to the cause. This is within Ci’s reasonable range for overhead spending.
Backpack Buddies has $2.1m in net funding reserves which can cover annual program costs for around 11 months.
This charity report is an update that has been sent to Backpack Buddies for review. Changes and edits may be forthcoming.
Updated on June 13, 2023 by Clive Stevens.
Financial Review
Fiscal year ending March
|
2022 | 2021 | 2020 |
---|---|---|---|
Administrative costs as % of revenues | 4.5% | 6.1% | 15.4% |
Fundraising costs as % of donations | 8.8% | 0.8% | 4.7% |
Total overhead spending | 13.4% | 6.9% | 20.1% |
Program cost coverage (%) | 95.4% | 115.9% | 79.6% |
Summary Financial StatementsAll figures in $s |
2022 | 2021 | 2020 |
---|---|---|---|
Donations | 2,783,950 | 3,319,361 | 923,872 |
Government funding | 7,850 | 76,064 | 91,431 |
Special events | 0 | 0 | 10,350 |
Investment income | 649 | 116 | 3,108 |
Other income | 8,587 | 62,001 | 25,000 |
Total revenues | 2,801,036 | 3,457,542 | 1,053,761 |
Program costs | 2,199,331 | 1,759,843 | 609,400 |
Administrative costs | 126,558 | 211,982 | 162,123 |
Fundraising costs | 246,019 | 25,884 | 43,470 |
Total spending | 2,571,908 | 1,997,709 | 814,993 |
Cash flow from operations | 229,128 | 1,459,833 | 238,768 |
Capital spending | 212,931 | 27,829 | 89,309 |
Funding reserves | 2,097,261 | 2,039,255 | 484,978 |
Note: To report on a cash basis, Ci adjusted donations by changes in deferred revenue from non-government sources. This affected revenues by ($45k) in F2022, ($45k) in F2021, and $30k in F2020. Ci included government funding reported in the charity’s T3010 filing. This increased revenues by $8k in F2022, $76k in F2021, and $91k in F2020. Ci reported program, administrative, and fundraising costs from the charity’s T3010 filings with the CRA. For F2021, there appears to be an error in the T3010 filing since the reported program, administrative, and fundraising expenses do not add up to the reported overall expense. To account for this, Ci added an adjustment of $20k for F2021.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
0 |
$80k - $120k |
2 |
$40k - $80k |
6 |
< $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
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: (604) 807-0347