Habitat for Humanity Iqaluit

P.O. Box 1989, Building 741
Iqaluit, NU X0A 0H0
Director: Kerone Folkes
Board Chair: Glenn Cousins

Website: www.habitatiqaluit.ca
Charitable Reg. #: 81662 4142 RR0001
Sector: Social Services - Housing
Operating Charity

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 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

Full-time staff #0

Avg. Compensation $0

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 0
$120k - $160k 0
$80k - $120k 0
$40k - $80k 0
< $40k 0
Information from most recent CRA Charities Directorate filings for F2014

About Habitat for Humanity Iqaluit:

Habitat for Humanity Iqaluit (HFHIQ) became an affiliate of Habitat for Humanity Canada in 2005. The charity helps people in the North, who cannot afford a down payment due to high housing costs, access safe and affordable housing. Like all Habitat for Humanity affiliates, HFHIQ’s mission is to mobilize volunteers and community partners in building affordable housing, and it promotes homeownership as a means to breaking the poverty cycle. HFHIQ states that 49% of houses are below housing standards in Nunavut, meaning they are either inadequate or overcrowded.

Habitat for Humanity Iqaluit’s sole activity appears to be Habitat for Humanity’s keystone homebuilding program. Qualifying families must fall below the poverty line but their income must be stable and sufficient enough to cover monthly Habitat mortgage payments. Families must also contribute 500 hours of volunteer labor, or ‘sweat hours,’ into building their Habitat home.

In 2010, Habitat for Humanity Iqaluit created Vision 2020, a new strategic plan with the goal of building 10 Habitat homes by 2020. The charity built its first Habitat home in 2007, its second in 2009, and also reports a build rate of one home every two years. HFHIQ aims to mobilize 1,000 volunteers by 2020 to help with its homebuilding activities.

Financial Review:

Habitat for Humanity Iqaluit is a micro-cap charity with total donations and special events fundraising of $145k in F2014. Administrative costs are 10% of revenues and fundraising costs are 26% of donations and special events. Per dollar donated to the charity, $0.65 goes towards its programs, which falls just within Ci’s reasonable range for overhead spending. The charity holds no liquid assets and $839 in bank debt in F2014 and has no funding reserves to cover annual program costs, indicating a large funding need.

In its F2014 T3010 CRA filing, HFH Iqaluit reports no full-time staff and 2 part-time staff, with $11k in total compensation. In its most recent F2015 T3010 filing, the charity reports no no paid employees or compensation information.

This charity report is an update that is currently being reviewed by Habitat for Humanity Iqaluit. Comments and edits may be forthcoming.

Updated on June 14, 2017 by Katie Khodawandi.

Financial Ratios

Fiscal year ending December
201420132012
Administrative costs as % of revenues 10.0%13.9%7.3%
Fundraising costs as % of donations 25.5%31.4%30.1%
Program cost coverage (%) (1.2%)(1.2%)14.6%

Summary Financial Statements

All figures in $s
201420132012
Donations 66,76885,45458,637
Goods in kind 5,00819,72032,620
Government funding 5,8396,71127,560
Fees for service 7,0067,0087,008
Business activities (net) 46,44516,3594,190
Special events 78,59575,86079,743
Total revenues 209,661211,112209,758
Program costs 67,990390,183263,779
Administrative costs 21,05729,40615,349
Fundraising costs 37,10550,69141,670
Other costs 1,1954,2852,831
Cash flow from operations 82,314(263,453)(113,871)
Funding reserves (839)(4,503)38,447
Note: Ci reported payments on mortgage receivable in fees for service, increasing revenues by $7k in F2014, $7k in F2013 and $7k in F2012. Ci did not report non-cash interest income, decreasing revenues by $3k in F2014, $3k in F2013 and $3k in F2012.  Ci reported changes in building inventory and construction in progress in program costs, increasing expenses by $23k in F2014, $358k in F2013 and $176k in F2012. Ci reported tenant rent net of rent expenses in business activities, decreasing total revenue and expenses by $14k in F2014, $14k in F2013 and $14k in F2012.

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