Kinsmen Foundation
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✖
FINANCIAL TRANSPARENCY
Audited financial statements available only through official request for information from Charities Directorate.
F
RESULTS REPORTING
Grade based on the charity's public reporting of the work it does and the results it achieves.
Low
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.
53%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 53 cents are available for programs.
My anchor
OVERVIEW
About Kinsmen Foundation:
While Kinsmen Foundation collects millions of dollars in donations each year, very little information is provided about how these donations are spent. Before you give, please read Ci's report.
Founded in 1973, Kinsmen Foundation (KMF) raises money to purchase medical equipment and fund related travel expenses for people in Saskatchewan. Grants for equipment are awarded to individuals or institutions for people with special needs. Past purchases have included walkers, wheelchairs, specialized bathtubs, and breast cancer screening buses for rural communities. Grant recipients are required to apply for consideration.
KMF’s primary fundraising source is Telemiracle, an annual 20-hour talent show broadcast on television. From F2019 to F2022, it raised $25.2m in donations and disbursed $15.7m in grants. However, it only reported on $1.8m of grants disbursed on its website, providing no information about the remaining $13.9m granted over the four years.
In F2023, its audited financial statements present annual grants of $5.5m. However, its annual filing to the CRA only discloses $683k of grants to other registered charities in Saskatchewan. It provides no information to donors about the disbursement of the remaining $4.8m in grants for F2023.
My anchor
Results and Impact
Charity Intelligence did not find any quantified outcomes on Kinsmen Foundation’s website. This may not be a complete representation of Kinsmen Foundation’s results and impact.
Charity Intelligence has rated Kinsmen Foundation as Low impact based on demonstrated impact per dollar spent.
Impact Rating: Low
•
My anchor
Finances
In F2023, Kinsmen Foundation received $5.4m in donations. Administrative costs were 18% of revenues, less investment income. Fundraising costs were 30% of donations. Total overhead spending was 47%. For every dollar donated, 53 cents are available to go to the cause. This is well outside Ci’s reasonable range for overhead spending.
In F2023, KMF had $13.0m in funding reserves. Included in these is $47k in donor-endowed funds. Excluding these funds, its reserves can cover two years and five months of annual program costs. KMF is not financially transparent. It does not make its audited financial statements available online and did not respond to requests to provide them. Ci compiled its financial information from statements obtained from the CRA’s Charities Directorate.
This charity report is an update that has been sent to Kinsmen Foundation for review. Changes and edits may be forthcoming.
Updated on July 25, 2024 by Stellar Zhang.
Financial Review
Fiscal year ending June
|
2023 | 2022 | 2021 |
|---|---|---|---|
| Administrative costs as % of revenues | 18.0% | 10.7% | 11.3% |
| Fundraising costs as % of donations | 29.5% | 16.1% | 17.7% |
| Total overhead spending | 47.4% | 26.8% | 29.0% |
| Program cost coverage (%) | 237.7% | 451.7% | 305.1% |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
|---|---|---|---|
| Donations | 5,378 | 7,784 | 6,413 |
| Business activities (net) | 87 | 192 | 365 |
| Investment income | 367 | 174 | 162 |
| Total revenues | 5,832 | 8,150 | 6,940 |
| Program costs | 0 | 0 | 0 |
| Grants | 5,464 | 3,376 | 4,104 |
| Administrative costs | 981 | 851 | 766 |
| Fundraising costs | 1,584 | 1,255 | 1,133 |
| Total spending | 8,029 | 5,482 | 6,003 |
| Cash flow from operations | (2,197) | 2,668 | 937 |
| Capital spending | 5 | 10 | 39 |
| Funding reserves | 13,027 | 15,287 | 12,553 |
Note: Ci adjusted for deferred donations, affecting donations by $71k in F2023, $761k in F2022, and $952k in F2021. Ci has presented costs associated with Telemiracle as expenses rather than showing Telemiracle revenue net of costs, affecting revenues and expenses by $1.6m in F2023, $1.3m in F2022, and $1.1m in F2021. Grants approved but not disbursed were adjusted for, affecting expenses by $3.6m in F2023, $985k in F2022, and $640k in F2021. Ci has used administrative and fundraising costs as presented in the Foundation’s T3010 filing with the CRA.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
0 |
$80k - $120k |
0 |
$40k - $80k |
6 |
< $40k |
4 |
Information from most recent CRA Charities Directorate filings for F2023
My anchor
Comments & Contact
Comments added by the Charity:
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 306-244-6400