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Speroway

5230 South Service Road
Burlington, ON L7L 5K2
President: Ken Forbes
Board Chair: Timothy Fallis

Website: www.speroway.com
Charitable Reg. #: 86886 9108 RR0001
Sector: International Aid
Operating Charity

Donor Accountability

Grade: C+

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 available only through official request for information from Canada Revenue Agency [ 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 #4

Avg. Compensation $61,752

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 0
$120k - $160k 1
$80k - $120k 0
$40k - $80k 1
< $40k 0
Information from most recent CRA Charities Directorate filings for F2016

About Speroway:

Founded in 2004, Speroway is a Christian relief and humanitarian charity that responds to the needs of children and their families in Canada and around the world. Through partnerships with other relief and development organizations, Speroway gives food, clothing, medicine, education and other essentials to needy children. The charity works in Malawi, Kenya, Haiti, Dominican Republic, El Salvador, Nicaragua and Nepal. Speroway's four core programs are Food & Nutrition, Education, Healthcare, and Emergency Relief & Disaster Response.  

Speroway's Food & Nutrition programming includes school feeding programs, malnutrition programs, agriculture projects and a food distribution program in Canada. Speroway's Gift-In-Kind (GIK) program distributes food in Canada and globally – the charity states that roughly 4 million Canadians, including 1.15 million children, suffer from malnutrition or live with unstable food access. The charity reports that it distributed over 25 million meals to hungry children through its GIK program over the past several years.  Through its school feeding programs, community feeding programs and sponsorship programs, Speroway reports giving almost 80,000 meals monthly in Malawi, over 2,000 meals monthly in Haiti and almost 11,000 meals monthly to kids in Kenya.  

Education programming focuses on breaking the poverty cycle by improving accessibility to quality education. Speroway runs children's education programs, gives secondary and post-secondary scholarships, offers life-skills training and runs community education initiatives. 69 students enrolled in the Wezesha scholarship program in 2016, where the charity hopes to empower youth in Kenya through education. Enrolment increased 44% from the year before.  

Healthcare programming includes malnutrition programs, deworming programs, community health initiatives, and basic healthcare & medicines programs. The charity's Emergency Relief & Disaster Response programs offer immediate relief and long-term response to areas affected by natural disasters, conflicts, and other emergencies.  

Financial Review:

Notice to Reader: Ci received unaudited documents from the CRA after making a formal request for Speroway’s F2015 audited financial statements. As a result, Ci’s F2015 analysis of Speroway uses unaudited figures. The CRA recommends that all charities with over $250k in donations undergo an annual audit to produce audited financial statements.   

Speroway is a medium-sized charity with total cash donations of $1.7m in F2015. Administrative costs are 2% of revenues and fundraising costs are 5% of donations. Per dollar donated to the charity, $0.93 goes towards its programs, which falls within Ci’s reasonable range for overhead spending. F2015 fundraising costs as reported in Speroway’s T3010 CRA filing dropped 83% from the year before. 

Speroway holds funding reserves of $348k. Excluding the cost of donated goods, funds can cover 19% of annual program costs and grants. When including the cost of donated goods, coverage drops to only 5%.  

This charity report is an update that is being reviewed by Speroway. Comments and edits may be forthcoming.

Updated June 15, 2017 by Katie Khodawandi.

Financial Ratios

Fiscal year ending June
201520142013
Administrative costs as % of revenues 2.2%4.7%1.7%
Fundraising costs as % of donations 4.9%27.3%33.1%
Program cost coverage (%) 18.7%41.1%32.5%

Summary Financial Statements

All figures in $000s
201520142013
Donations 1,6571,7951,754
Goods in kind 5,0815,35510,665
Fees for service 32000
Business activities (net) 018489
Investment income 6903
Total revenues 7,0637,25812,911
Program costs 4,0507,03412,203
Grants 2,892220
Administrative costs 153335223
Fundraising costs 82490580
Cash flow from operations (113)(624)(96)
Funding reserves 348699500
Note: Ci used program, grants, administrative and fundraising costs reported in the charity’s T3010 CRA filing for F2015. Ci used the charity’s T3010 filing for F2014 grant costs and backed the amount out of program costs. Ci backed out amortization on a pro-rata basis from program, administrative and fundraising costs.  

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