Fred Victor

59 Adelaide Street East, 6th Floor
Toronto, ON M5C 1K6
Executive Director: Mark Aston
Board Chair: David R. Black

Website: www.fredvictor.org
Charitable Reg. #: 11893 1377 RR0001
Sector: Social Services - Homeless (Shelter)
Operating Charity

Donor Accountability

Grade: A-

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

Financial Transparency

Audited financial statements for current and previous years available on the charity's website [ Audited financial statement for most recent year ]

Need for Funding

Funding Reserves Program Costs

Spending Breakdown

Full-time staff #321

Avg. Compensation $40,956

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 0
$120k - $160k 1
$80k - $120k 9
$40k - $80k 0
< $40k 0
Information from most recent CRA Charities Directorate filings for F2016

About Fred Victor:

Founded in 1894, Fred Victor aims to improve the health, income and housing stability of people experiencing homelessness and poverty. The charity operates 18 different sites across Toronto offering affordable housing, transitional housing, an emergency shelter, food access, job training and counselling, health information and community services, mental health outreach and services, and specialized support services. In 2015, Fred Victor merged with Community Resource Connections of Toronto (CRCT). CRCT has a 40-year history of providing care and support for people with mental health challenges.

The charity reports 2,000 people using its programs and services every day. In F2016, clients stayed 70,810 nights in Fred Victor housing or shelters. Of 7,415 visits to Employment and Training Services, 300 secured employment and 62 previously homeless people were trained and employed in supported work placements. Across Fred Victor programs, 500,000 healthy snacks and meals were served.  

In May 2016, tenants began moving into a 10-story apartment building acquired by Fred Victor through an RFP process with the Ontario government. The apartment building was initially used as part of the athletes village in the 2015 Pan Am/Pan Para games. Located in the Canary District of Toronto, it is now affordable and secure housing for 300 of Fred Victor's tenants.

Financial Review:

Fred Victor is a medium-sized charity with $1.1m in donations. Government funding accounted for the majority of revenue, granting $20.9m to Fred Victor in F2016. Fred Victor also received $503k in rent from clients living in the charity’s affordable housing. Administrative costs were 5% of revenues and fundraising costs were 33% of donations. For every $1 donated, 62 cents go to the cause. This does not fall within Charity’s Intelligence reasonable range of overhead spending.

The charity has funding reserves of ($1.6m) as it currently carries $6.9m in mortgages payable to the Bank of Canada. Removing donor-endowed funds of $1.3m from total funding reserves, Fred Victor has funding reserves of ($2.9m).

This charity report is an update that is currently being reviewed by Fred Victor. Changes and edits may be forthcoming.

Updated June 8, 2017 by Juliana Badovinac.

Financial Ratios

Fiscal year ending March
201620152014
Administrative costs as % of revenues 5.4%9.3%8.1%
Fundraising costs as % of donations 32.5%23.4%7.6%
Program cost coverage (%) (8.2%)(20.7%)(28.2%)

Summary Financial Statements

All figures in $000s
201620152014
Donations 1,0631,106938
Government funding 20,94212,31711,579
Fees for service 503534432
Investment income 17271315
Other income 495293284
Total revenues 23,01914,52213,548
Program costs 19,36811,46610,776
Administrative costs 1,2341,3211,067
Fundraising costs 34525871
Other costs 187297355
Cash flow from operations 1,8841,1801,279
Funding reserves (1,586)(2,372)(3,043)
Note: Investment management fees were removed from net investment income and reported as an expense, increasing revenues and expenses by $14k in F2016, $25k in F2015, and $24k in F2014. Deferred revenues were adjusted to reflect a cash-basis of reporting. As such, revenues were adjusted by $850k in F2016, $155k in F2015, and $422k in F2014.

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