1350 - One Lombard Place
Winnipeg, MB R3B 0X3
CEO: Richard L. Frost
Board Chair: Susan Millican

Charitable Reg. #:11930 0960 RR0001

STAR RATING

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

Not yet rated.

✔+

FINANCIAL TRANSPARENCY

Audited financial statements for current and previous years available on the charity’s website.

NR

RESULTS REPORTING

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

n/r

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.

-2%

CENTS TO THE CAUSE

For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) -2 cents are available for programs.



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Programs

About Winnipeg Foundation:

Founded in 1967, the Winnipeg Foundation helps strengthen its community by ensuring donors can achieve their philanthropic goals. Gifts to the Foundation are pooled and invested, and the income earned is distributed as grants that support community projects. The Foundation also connects donors who wish to establish a scholarship fund with schools in the community and provides administrative services such as advising selection committees and arranging payment of awards.

In 2012, the Winnipeg Foundation made $21.2m in grants to almost 800 charities. Grants were allocated as follows: community service (24%), education (20%), health (19%), arts and culture (16%), heritage (10%), recreation (4%), environment (4%) and fair based designations (2%). Over the Foundation’s nine-decade history, it has distributed more than $300m in the community.

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 Winnipeg Foundation if there is sufficient donor interest.

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Finances

Fundraising costs and administrative costs together are 102% of revenues (not including investment revenue). The organization has funding reserves of $498m (of which $413m is donor-endowed), which cover annual program costs 27.5 times. The Foundation had a return on investment of 12.2% in F2012, and a 10-year average ROI of 5.8%. It paid investment management fees of 0.34% of the fair value of assets in F2012. The Foundation charges a 0.5% fee on its endowment funds.

Financial Review


Financial Ratios

Fiscal year ending September
201220112010
Fundraising & admin costs as % of revenues 102.3%124.6%146.6%
Program cost coverage (%) 2,752.1%2,265.1%2,383.5%

Summary Financial Statements

All figures in $000s
201220112010
Donations 3,1272,4221,956
Investment income 22,63022,66223,252
Total revenues 25,75725,08425,208
Grants 18,11019,69019,180
Donor-designated donations 3,1102,3801,797
Fundraising & administrative costs 3,2003,0172,868
Other costs 1,6441,5491,384
Cash flow from operations (307)(1,552)(21)
Funding reserves 498,407445,990457,146

Note: Ci reported investment revenues gross of stated investment manager and trust company custodian fees and included these costs in other costs. This change increased both revenue and expenses by $1.6m in F2012, $1.5m in F2011 and $1.4m in F2010. Ci removed grants from capital apportioned to income, reducing revenue by ($905m) in F2012, ($903m) in F2011, and ($603m) in F2010. Ci removed amortization of $85k in F2012, $101k in F2011 and $99k in F2010 from fundraising and administrative costs.

Salary Information

Full-time staff: 27

Avg. Compensation $71,815

Top 10 staff salary range

$350k +
0
$300k - $350k
0
$250k - $300k
0
$200k - $250k
1
$160k - $200k
0
$120k - $160k
0
$80k - $120k
5
$40k - $80k
4
< $40k
0

Information from most recent CRA Charities Directorate filings for F2011

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Comments & Contact

Comments added by the Charity:

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Charity Contact

Website: www.wpgfdn.org
This email address is being protected from spambots. You need JavaScript enabled to view it.

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