575 Drake Street
Vancouver, BC V6B 4K8
Executive Director: Krista Thompson
Board Chair: Sean Muggah

Charitable Reg. #:89767 5625 RR0001

STAR RATING

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

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✔+

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.

Fair

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.

68%

CENTS TO THE CAUSE

For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 68 cents are available for programs.



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Programs

About Covenant House Vancouver:

Founded in 1997, Covenant House Vancouver supports homeless youth in Vancouver by serving their basic needs and helping them build a strong future. Covenant House offers a “Continuum of Care,” to help youth in all stages of the transition from homelessness to safe housing. Covenant House has three main programs: Community Support Services, the Residential Crisis program, and the Rights of Passage program. Covenant House Vancouver served 1,037 individual youth in F2019, and 25 – 40% of the youth identify as LGBTQ.

In F2019, the Residential Crisis Program made up 52% of total program spending ($5.5m). Covenant House’s Crisis Program runs a 63-bed shelter for youth aged 16 to 24. When youth arrive at the shelter, they are given medical attention, nutritious food, and a safe place to sleep. They are given the option to stay for as many nights as they want. There are 28 beds for female-identified youth and 35 beds for male-identified youth. A total of 419 youth stayed in the Residential Crisis program in F2019. Covenant House reports that it provided more than 9,500 pieces of donated clothing to youth in F2019. It also served 105,000 nutritious meals to youth. Some of these meals and pieces of clothing were served as part of Community Support Services. 

In F2019, Community Support Services made up 22% of total program spending ($1.6m). This program provides “as-needed” services to street youth aged 16 to 24. There are two components of this program: Outreach and Drop-In Centre. The Outreach team travels on foot to find youth and offer food, counselling, minor medical attention, and friendship. Youth are then invited to Covenant House’s Drop-In Centre for access to a wider array of services and resources. A total of 742 youth accessed the Drop-In centre in F2019.

In F2019, Covenant House’s Rights of Passage program made up 20% of total program spending ($2.4m). This program gives young people safe, affordable housing and 24/7 support as they transition to living alone. Youth must commit to the program, which includes following curfews, attending classes, and putting aside a portion of their income for the program fee. Youth will receive a furnished apartment until their 25th birthday. Supports include life skills (cooking, money management, self-care, etc.) and education or employment plan development. A total of 43 youth aged 16-24 were part of the Rights of Passage program in F2019.

The remainder of program costs were allocated to public education about youth homelessness.

In F2019, Covenant House Vancouver completed construction of a new five-storey building. The charity has moved to this new facility to increase its services for homeless and at-risk youth. Construction is currently underway for a new ten-storey facility at the charity’s old location, which will house more beds for youth, new fitness facilities, and classrooms. It is set to be completed in spring 2022.

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Results and Impact

In F2019, across all of Covenant House Vancouver’s programs, 306 youth found stable housing and 218 youth found and maintained employment. The Rights of Passage program is historically successful in helping 100% of youth in the program transition off the street.

While Ci highlights these key results, they may not be a complete representation of Covenant House’s results and impact.

Charity Intelligence has given Covenant House Vancouver a Fair impact rating based on demonstrated impact per dollar spent.

Impact Rating: Fair

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Finances

Covenant House Vancouver is a ­­­large charity, with total donations and special events revenues of $18.1m in F2019. Administrative costs are 8% of revenues (excluding investment income) and fundraising costs are 24% of donations. This means overhead costs are 32%. For every dollar donated, 68 cents go to the cause. This is within Ci’s reasonable range for overhead spending.

The charity has total funding reserves of $21.2m. Covenant House Vancouver’s funding reserves can cover program costs for two years.

­This charity report is an update that has been sent to Covenant House Vancouver for review. Changes and edits may be forthcoming.

NOTE: Donors are asking why the financial numbers Charity Intelligence reports are different from the financial numbers Covenant House Vancouver is reporting. Charity Intelligence consistently reports for all charities a) donations when received (not when spent), and b) program and other costs adjustments for non-cash expenses, namely amortization. Charities may have different ways of presenting their ratios. For more details on financial analysis of charity reporting, read more here

Updated on June 8, 2020 by Eric Jose.

Financial Review


Financial Ratios

Fiscal year ending June
201920182017
Administrative costs as % of revenues 7.9%5.1%6.8%
Fundraising costs as % of donations 23.7%14.7%19.1%
Total overhead spending 31.6%19.8%25.9%
Program cost coverage (%) 200.1%234.5%113.4%

Summary Financial Statements

All figures in $000s
201920182017
Donations 17,92626,11017,511
Government funding 774930863
Special events 145129156
Investment income 50723460
Other income 125352353
Total revenues 19,47827,75518,943
Program costs 10,6109,4168,995
Administrative costs 1,4921,3911,284
Fundraising costs 4,2843,8573,381
Total spending 16,38514,66413,660
Cash flow from operations 3,09213,0915,283
Capital spending 16,4083,6451,147
Funding reserves 21,22822,08110,197

Note: To report on a cash basis, Ci adjusted for deferred contributions received during the year and removed amortization of deferred capital contributions, affecting total revenues by $287k in F2019, $9.1m in F2018, and $3.9m in F2017. Ci removed amortization of property and equipment, decreasing total expenses by $987k in F2019, $927k in F2018, and $356k in F2017. Amortization not allocated to programs was removed from administrative and fundraising expenses on a pro-rata basis.

Salary Information

Full-time staff: 175

Avg. Compensation: $65,804

Top 10 staff salary range:

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

Information from most recent CRA Charities Directorate filings for F2019

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Comments & Contact

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Charity Contact

Website: www.covenanthousebc.org
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 604-685-5437

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