Victoria, BC V8W 1G2
CEO: Sandra Richardson
Board Chair: Deirdre Roberts
Charitable Reg. #: 13065 0898 RR0001
Grade: NRCharity not yet rated on the public reporting of the work it does and the results it achieves.
Need for Funding
Cents to the Cause
Full-time staff #5
Avg. Compensation $84,947
Top 10 Staff Salary Range
|$300k - $350k||0|
|$250k - $300k||0|
|$200k - $250k||0|
|$160k - $200k||0|
|$120k - $160k||1|
|$80k - $120k||1|
|$40k - $80k||3|
About Victoria Foundation:
The Victoria Foundation is dedicated to improving the quality of life in its community through the stewardship of permanent funds and other gifts, and by grantmaking for charitable purposes on southern Vancouver Island. The Foundation gives grants in the following areas: arts, culture and heritage; community services; education; environment; and health and recreation. Grants are given through donor-directed funds, bequests and the Foundation’s Vital Victoria discretionary fund. The Foundation also manages endowment funds for charities, trust funds and scholarship funds. The Foundation also works on a number of community projects to improve the understanding of important issues in its community. These initiatives include: Every Step Counts (a therapeutic walking and running program), and Happiness Index (which measures and promotes well-being in Greater Victoria), among others.
In 2012, the Foundation gave grants to 59 organizations, totalling $8m. It hosted $59m in endowment funds for 107 charities, administered 2 trust funds worth $3m, and managed scholarship funds worth $48m. It was also involved in 8 community projects.
Notice to Donors: Charity Intelligence initially reported on community foundations given the large size of donations these foundations receive. In subsequent research and discussions with community foundations, their operating model does not fit with Charity Intelligence's analysis. Community foundations have significantly different cost structures, invested funds, and results that are not comparable with other charities. Donors looking to establish funds within community foundations should assess: 1. prior investment return track records, 2. restrictions on how much is paid out of funds each year to charities (the payout ratio maximum and minimum), 3. the quality of research provided in helping donors grant to charities, and 4. annual fees. Community foundations can provide services making giving easy, as do other financial service providers. Donors should talk with their financial advisor.
Charity Intelligence can update this report on Victoria
Fundraising costs are 8% of donations, and administrative costs are 25% of revenues. The organization has funding reserves of $192m (of which $137m is donor-endowed), which cover annual program costs 60.5 times. Of the $137m donor-endowed funds, $59m are hosted funds. The Foundation had a return on investment of 10.6% in F2012, and a 10 year ROI of 6.9%. The Foundation paid 0.33% of fair value of assets in investment management and custodial fees in F2012. It charges an investment management fee of 0.75% of the fair value of assets.
Financial RatiosFiscal year ending December
|Administrative costs as % of revenues||24.8%||18.4%||19.6%|
|Fundraising costs as % of donations||8.3%||6.8%||4.4%|
|Program cost coverage (%)||6,045.2%||6,083.8%||5,005.4%|
Summary Financial StatementsAll figures in $000s
|Fees for service||454||423||415|
|Cash flow from operations||85||34||88|