Vets without Borders
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.
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.
81%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 81 cents are available for programs.
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OVERVIEW
About Vets without Borders:
Vets Without Borders is a four-star charity that is financially transparent. It has an above-average results reporting grade of B+. For every dollar donated to the charity, 81 cents are available to go to the cause.
Founded in 2005, Vets Without Borders (VWB) runs programs in 17 countries to help with the health of animals, people, and the environment. The charity believes that a sustainable relationship between humans, animals, and the environment improves the living conditions of all people. VWB spent $7.7m on six different programs in fiscal 2024 (the year ending March). The programs are Volunteers Engaged in Gender-Responsive Technical Solutions (VETS), Ukraine Animal Crisis, International Aid, Northern Animal Health Initiative (NAHI), Agriculture-Based Growth and Resilience Opportunities for Women (AGROW), and Emergency Response. The total program spending and breakdown is based on the F2024 annual report. The F2024 financial statements were not out at the time of this profile, so the finances are based on the F2023 statements.
The VETS program was 30% of program spending in F2024. This program offers training sessions and support in six countries in Africa and Asia to improve their nutritional and financial well-being. In F2024, VETS trained 42,263 people in zoonotic disease detection and supported 25,630 women, 18,270 men, and 2,314 children.
Its Ukraine Animal Crisis program was 26% of program spending in F2024. The program was developed as a response to the war in Ukraine to help war-affected shelters and households and save animals in the crisis. In F2024, VWB reached 150,473 animals and completed 10,265 spay/neuter surgeries.
Its International program was 18% of program spending in F2024. VWB works in South Sudan, Turkey, Bahamas, Czech Republic, and Pakistan. South Sudan takes up the largest proportion of this spending. In South Sudan, 41,000 animals were vaccinated, and VWB distributed 2,200 livestock to 550 farmers in F2024. In 2023, the charity also launched Community One Health Empowerment in Rwanda and Senegal (COHERS). So far, VWB has trained four local partners, and supported 3,175 households.
The NAHI program was 13% of program spending in F2024. A 2017 study conducted on behalf of VWB found that 54 remote communities in Canada’s northern territories had little or no veterinary services. In 2023, VWB visited five communities in the Northwest Territories and six communities in Nunavut. The charity delivered 2,207 vaccinations and performed 291 spay/neuter surgeries.
The AGROW program received 13% of program spending in F2024. This is a three-year program with the goal to improve agriculture practices and empower women and girls in Cambodia. In F2024, AGROW treated 19,502 animals and trained 458 people in detecting zoonotic disease.
The remaining 3% of program spending in F2024 was on Emergency Response. In F2024, Vets Without Borders reached 7,990 animals during emergency response efforts. The charity helped 275 animals during the Northwest Territories fires.
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Results and Impact
Vets Without Borders released surveyed data from 2022-2023 on the impact of its International program in South Sudan. This program takes up 15% of VWB’s total program spending. The results were:
58% of farmers reported improved food security.
72% of farmers reported improved livelihoods.
There was a 24% increase in cows’ daily milk production (from 0.46L to 0.57L).
There was a 26% increase in the average weight of mature goats (from 13.5kg to 17kg).
While Ci highlights these key results, they may not be a complete representation of Vets Without Borders Results and Impact. Charity Intelligence has not yet measured VWB’s impact rating (n/r).
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Finances
The F2024 financial statements were not available at the time of this profile, so Ci used the F2023 financials for the analysis.
In F2023, Vets Without Borders received $2.9m in donations, a 48% increase from F2022. In 2023, they also had $2.1m in government funding, representing 42% of total revenue. Administrative costs are 16% of revenue, and fundraising costs are 3%. In F2023, VWB spent 19% on overhead costs, excluding volunteer time. For every dollar, 81 cents are available to go to the cause. In 2023, VWB spent $4.0 million on its programs which represents 80% of its total revenue in 2023.
In 2023, VWB had a surplus of $109k (2.2%) of total revenue and spent $4,938 on capital expenditures.
At the end of F2023, VWB has $1.7m in reserve funds, which can cover 43% or four months of its annual program costs.
Profile updated on August 27, 2024 by Abby Stout.
Financial Review
Fiscal year ending March
|
2023 | 2022 | 2021 |
---|---|---|---|
Administrative costs as % of revenues | 15.9% | 10.2% | 14.9% |
Fundraising costs as % of donations | 3.2% | 4.0% | 15.1% |
Total overhead spending | 19.1% | 14.2% | 30.0% |
Program cost coverage (%) | 42.5% | 107.3% | 37.6% |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
---|---|---|---|
Donations | 2,913 | 1,963 | 505 |
Government funding | 2,092 | 1,837 | 845 |
Other income | 3 | 0 | 0 |
Total revenues | 5,009 | 3,800 | 1,350 |
Program costs - Canada | 3,985 | 1,536 | 843 |
Grants | 22 | 0 | 29 |
Administrative costs | 798 | 388 | 201 |
Fundraising costs | 93 | 78 | 76 |
Total spending | 4,898 | 2,001 | 1,149 |
Cash flow from operations | 110 | 1,799 | 201 |
Capital spending | 5 | 0 | 0 |
Funding reserves | 1,703 | 1,647 | 328 |
Note: DEFERRED ADJUSTMENT: VWB uses deferred accounting. To show donors this information on a consistent basis, Ci adjusts for deferred revenues. This affected revenue by $348k in F2023, $178k in F2022, and $279k in F2021. These adjustments are not material. GOODS IN KIND (VOLUNTEER TIME): VWB includes volunteer time as an in-kind expense. To report on a consistent basis with other charities, Ci has removed non-monetary volunteer expense. This affected expenses by ($1.2m) in F2023, ($1.4m) in F2022, and (164k) in F2021.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
1 |
$80k - $120k |
6 |
$40k - $80k |
3 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2023
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Comments & Contact
Comments added by the Charity:
Charity Contact
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