Cambridge Food Bank
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✔
FINANCIAL TRANSPARENCY
Most recent Audited financial statements 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.
High
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.
92%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 92 cents are available for programs.
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OVERVIEW
About Cambridge Food Bank:
Cambridge Self-Help Food Bank is a 5-star charity with a High impact and a below average results reporting grade. It is financially transparent and has reasonable overhead spending. With current reserves the charity can cover just over 2 years of annual program costs.
Cambridge Self-Help Food Bank, more commonly known as Cambridge Food Bank (CFB), first opened its doors in 1985 to help respond to a severe economic recession. It serves the city of Cambridge and the township of North Dumfries, which have a combined population of around 145,000. On average, CFB distributes over 2,500 emergency food hampers each month.
Cambridge Food Bank’s main program is food distribution. It also runs various community programs, such as family support services and referral programs. In F2022, the charity provided $2.8m worth of food, spent $108k on food purchases, and reported $168k in other programs costs. It does not provide a spending breakdown of individual programs.
In F2022, CFB helped to distribute 1,087,175 pounds of food. It also provided 31,932 meals. For clients in immediate need of food, CFB’s Community Pantry program offers emergency food hampers with a five-day supply of food, provided up to 12 times per year. In F2022, the Community Pantry received 14,377 visits. The Mobile Food Market sells vegetables and fruits at affordable prices. In F2022, the Mobile Food Market received 7,983 visits.
CFB offers workshops and wellness programs for youth and adults. In F2022, 453 youth attended the wellness programs. The charity states that 295 adults reported improved mental health after attending wellness programs. CFB also has the Kinship Support program that runs workshops and peer groups for caregivers.
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Results and Impact
Cambridge Food Bank works with corporate partners to help prevent food waste. In F2022, it helped to divert 175,721 pounds of food from landfills. CFB also runs community gardens to grow fresh, organic produce. Its gardens produced 25,308 pounds of fruits and vegetables in F2022.
While Ci highlights these key results, they may not be a complete representation of Cambridge Food Bank’s results and impact.
Charity Intelligence has given Cambridge Food Bank a High impact rating for demonstrated impact per dollar spent.
Impact Rating: High
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Finances
Cambridge Food Bank received $1.7m in cash donations in F2022. It also received $2.8m in donated food (57% of revenues) and $392k in government funding (8% of revenues). According to the charity’s financial statements, the value of donated food is unaudited and estimated by its internal records. Administrative costs are 6% of revenues and fundraising costs are 3% of cash donations. This results in total overhead spending of 8%. For every dollar donated to the charity, 92 cents go to the cause. This is within Ci’s reasonable range for overhead spending.
Cambridge Food Bank had reserve funds of $2.8m in F2022. These are the charity’s cash and investments. Excluding the cost of donated food, CFB can cover around 2.1 years of annual program costs with its existing reserves.
Charity Intelligence has sent this update to Cambridge Food Bank for review. Changes and edits may be forthcoming.
Updated on August 9, 2023 by Alessandra Castino.
Financial Review
Fiscal year ending March
|
2022 | 2021 | 2020 |
---|---|---|---|
Administrative costs as % of revenues | 5.6% | 6.0% | 6.1% |
Fundraising costs as % of donations | 2.7% | 1.3% | 3.7% |
Total overhead spending | 8.3% | 7.3% | 9.8% |
Program cost coverage (%) | 214.4% | 193.3% | 138.8% |
Summary Financial StatementsAll figures in $s |
2022 | 2021 | 2020 |
---|---|---|---|
Donations | 1,715,739 | 2,455,367 | 1,067,106 |
Goods in kind | 2,804,969 | 2,510,342 | 2,777,151 |
Government funding | 391,856 | 359,744 | 310,952 |
Fees for service | 50,083 | 230 | 40,691 |
Lotteries (net) | 1,685 | 1,408 | (3,238) |
Total revenues | 4,964,332 | 5,327,091 | 4,192,662 |
Program costs | 1,325,310 | 1,277,100 | 925,726 |
Donated goods exp | 2,804,970 | 2,510,340 | 2,777,150 |
Administrative costs | 278,354 | 321,015 | 256,754 |
Fundraising costs | 46,746 | 30,888 | 39,130 |
Total spending | 4,455,379 | 4,139,345 | 3,998,761 |
Cash flow from operations | 508,953 | 1,187,746 | 193,901 |
Capital spending | 88,361 | 34,469 | 11,825 |
Funding reserves | 2,841,874 | 2,468,006 | 1,284,953 |
Note: Ci included the value of donated food as goods in kind, affecting revenues and expenses by $2.8m in F2022, $2.5m in F2021, and $2.8m in F2020. Ci gathered government funding from the charity’s T3010 filings and removed the amounts from donations. Ci adjusted administrative costs to match the charity’s T3010 filings and removed the additional amounts from program costs. Ci reported lottery revenues net of lottery expenses built into programs and administration. This affected revenues by ($13k) in F2022, ($12k) in F2021, and ($27k) in F2020. Ci included covid-19 funding reported below the line in donations, affecting total revenues by $23k in F2022, $335k in F2021, and $nil in F2020. Ci included covid-19 purchases reported below the line in program costs, affecting total expenditures by $207k in F2022, $136k in F2021, and $nil in F2020.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
0 |
$80k - $120k |
1 |
$40k - $80k |
8 |
< $40k |
1 |
Information from most recent CRA Charities Directorate filings for F2022
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Comments & Contact
Comments added by the Charity:
Charity Contact
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