Wellspring Cancer Support Foundation
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✔+
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.
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.
61%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 61 cents are available for programs.
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OVERVIEW
About Wellspring Cancer Support Foundation:
Wellspring Cancer Support Foundation is a 3-star rated charity with an above-average results reporting grade. Wellspring Cancer Support Foundation is financially transparent and has overhead spending outside Ci's reasonable range.
Founded in 1992, Wellspring Cancer Support Foundation (WCSF) runs programs that help those affected by cancer elevate their quality of life. This includes people living with cancer, their families, and their caregivers. The charity's programs are free and available without referral. WCSF states that physical, emotional, and financial problems can persist during and after cancer diagnosis and treatment. The charity reports it spent $3.0m on its programs in F2024.
Wellspring Cancer Foundation has six program categories: Exercise and Movement (40%); Individual and Group Support (24%); Education and Self Development (12%); Symptom Management (11%); Therapeutic Arts (6%); and Finance and Workplace Strategies (6%). In F2024, WCSF served 8,500 people, which is a 9% increase from F2023. The charity received 62,000 program visits, a 21% increase.
WCSF controls two physical centers in the Greater Toronto Area (GTA). These locations are in Oakville and Toronto. It also operates Hub locations out of Princess Margaret Care Centre, St. Michael's Hospital and Michael Garron Hospital. There are six other Wellspring locations in Canada. Independent registered charities affiliated with WCSF run these locations. These affiliates are located in Niagara, London, Calgary, Chinguacousy, Stratford, and Edmonton. WCSF also runs virtual support programs that are accessible across Canada.
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Results and Impact
Wellspring Cancer Support Foundation conducted a Mission Survey of its members in 2024. 93% of respondents said their quality of life has improved as a result of participating in Wellspring programs. 94% reported Wellspring increased their physical well-being. 93% reported Wellspring helps them feel less isolated. 65% reported Wellspring increased their financial well-being.
While Ci highlights these key results, they may not be a complete representation of Wellspring Cancer Support Foundation’s results and impact.
The charity is not yet rated on impact (n/r).
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Finances
In F2024 Wellspring Cancer Support Foundation received $2.9m in cash donations and special event fundraising. Administrative costs are 2% of revenues (excluding investment income). Fundraising costs are 37% of donations. This results in total overhead spending of 39%. For every dollar donated, 61 cents go to the cause. This falls outside Ci’s reasonable range for overhead spending. WCSF has been outside Ci’s reasonable range in 10 of the past 13 years.
In F2024 Wellspring Cancer Support Foundation spent $3.0m on its programs, which is 79% of its revenue. In F2024 it had a deficit of $319k.
Wellspring Cancer Support Foundation has $7.2m in reserve funds including a $447k endowment fund. Excluding donor-endowed funds, the charity's funding reserves can cover 239%, or 2.4 years of its annual program spending. WCSF has total investments of $6.8m. 47% is in short term investments, 39% in equities, and 14% is in cash and cash equivalents. In F2024, the annual return on investment for WCSF was 10%. Its four-year annual return on investment is 7%.
This charity report is an update that has been sent to Wellspring Cancer Support Foundation for review. Comments and edits may be forthcoming.
Updated on June 17, 2024, by Grady Simpson.
Financial Review
Fiscal year ending March
|
2024 | 2023 | 2022 |
---|---|---|---|
Administrative costs as % of revenues | 2.4% | 4.2% | 12.8% |
Fundraising costs as % of donations | 36.6% | 20.1% | 29.0% |
Total overhead spending | 39.0% | 24.3% | 41.8% |
Program cost coverage (%) | 225.9% | 286.9% | 201.2% |
Summary Financial StatementsAll figures in $s |
2024 | 2023 | 2022 |
---|---|---|---|
Donations | 1,813,196 | 4,294,074 | 2,451,394 |
Government funding | 0 | 12,575 | 42,951 |
Business activities (net) | 158,853 | 142,444 | 87,026 |
Special events | 1,081,208 | 1,028,707 | 589,663 |
Investment income | 659,612 | 146,158 | 42,695 |
Other income | 127,397 | 47,272 | 214,908 |
Total revenues | 3,840,266 | 5,671,230 | 3,428,637 |
Program costs | 3,022,867 | 2,440,319 | 2,202,141 |
Administrative costs | 75,628 | 231,629 | 433,997 |
Fundraising costs | 1,060,307 | 1,069,014 | 880,708 |
Total spending | 4,158,802 | 3,740,962 | 3,516,846 |
Cash flow from operations | (318,536) | 1,930,268 | (88,209) |
Capital spending | 269,307 | 417,208 | 71,188 |
Funding reserves | 7,225,125 | 7,385,293 | 4,832,527 |
Note: DEFERRED ADJUSTMENT: Wellspring Cancer Support Foundation uses deferred accounting. To show donors information on a consistent basis, Ci adjusted for these deferred revenues. This affected revenues by $79k in F2024, ($35k) in F2023, and $28k in F2022. AMORTIZATION OF DEFERRED CONTRIBUTIONS: Ci adjusted for amortization of deferred contributions. This affected revenues by ($280k) in F2024, $49k in F2023, and ($19k) in F2022. UNREALIZED LOSS ON INVESTMENTS: Ci reported unrealized loss on investments of $161k in F2022 as a contra-revenue item in investment income instead of expenses, affecting total revenue and expenses accordingly. SEVERANCE: Ci backed out $5k in severance from program costs and included it in administrative costs. GOVERNMENT FUNDING: WCSF does not report government funding on its audited financial statements. However, it does report government funding on its T3010. Ci reports government funding of $13k in F2023 and $49k in F2022. This amount was removed from the donations number in WCSF's audited financial statements. T3010: The F2024 T3010 data was not available at the time of this update.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
1 |
$120k - $160k |
1 |
$80k - $120k |
7 |
$40k - $80k |
1 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2023
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Comments & Contact
Comments added by the Charity:
Wellspring has helped tens of thousands of people with cancer reduce the painful side effects of the disease and its treatments, providing a safe place for people to receive comfort and support in their time of need. Our overhead supports our 50+ evidence-based programs that require high quality standards in the form of facilities, website, technology, and customer service. We are proud of our model, which consistently results in strong positive feedback and achievement of results among those in need.
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 416-480-4440