Homes First

90 Shuter Street, 2nd Floor
Toronto, ON M5B 2K6
Executive Director: Patricia Mueller
Board Chair: Jeremy Roach

Website: www.homesfirst.on.ca
Charitable Reg. #: 11896 2182 RR0001

Sector: Social Services - Homeless

Operating Charity

Charity Rating

[Charity Rating: 4/4]

Donor Accountability

Grade: B+

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

Cents to The Cause

♦	♦	♦
			95¢



			75¢
			avg
			65¢


			50¢

2013	2014	2015

For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #47

Avg. Compensation $67,411

Top 10 Staff Salary Range

$350k +	0
$300k - $350k	0
$250k - $300k	0
$200k - $250k	0
$160k - $200k	0
$120k - $160k	0
$80k - $120k	1
$40k - $80k	9
< $40k	0

Information from most recent CRA Charities Directorate filings for F2015

About Homes First :

Founded in 1983, Homes First provides housing and support services aimed at breaking the cycle of homelessness for Toronto's most vulnerable. Taking a housing-first approach, Homes First believes addiction and mental health can't be effectively treated with a person living on the streets. Homes First is one of Toronto's largest social housing providers. Homes First helps the homeless through providing both emergency temporary shelters and supportive long-term housing for the chronically homeless. In F2015, Homes First provided emergency shelter for a total of 60,800 nights, helped 351 people in supportive housing, served 141,344 meals and supported 23 patients from the Centre for Addiction and Mental Health.

Financial Review:

The financial summary is based on the consolidated financial statements of Homes First Society and Homes First Foundation.

In F2015, Homes First spent 10% of revenues on administrative costs and 16% of donations on fundraising costs. Total overhead costs of 26% fall within Ci's reasonable range.

As of F2015, Homes First Society and Homes First Foundation had cash and investments of $3.9m and mortgage debt of $11.7m. Overall, the charity has a negative funding reserve of ($7.7m).

Analysis updated by Ruoxi Gao in 2016, currently under review by Homes First.

Financial Ratios Fiscal year ending December	2015	2014	2013
Administrative costs as % of revenues	10.4%	10.6%	12.1%
Fundraising costs as % of donations	15.5%	7.6%	3.9%
Program cost coverage (%)	(111.9%)	(139.8%)	(149.3%)

Summary Financial Statements All figures in $000s	2015	2014	2013
Donations	1,189	1,174	1,378
Government funding	7,486	7,035	7,166
Fees for service	116	116	116
Business activities (net)	1,156	1,097	1,086
Investment income	1	1	1
Other income	126	58	103
Total revenues	10,074	9,481	9,850
Program costs	6,897	6,499	6,604
Administrative costs	1,051	1,003	1,191
Fundraising costs	184	90	54
Other costs	1,412	1,444	1,478
Cash flow from operations	530	446	523
Funding reserves	(7,715)	(9,083)	(9,857)

Note: Ci adjusted revenue for deferred capital contributions, lowering revenue by $185k in F2015, F2014, and F2013. Homes First does not report administrative costs separately from program costs in its audited financial statements, hence Ci used the cost breakdown from CRA's T3010.

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