TVOntario (TVO)

TVO, 2180 Yonge Street
Toronto, ON M4S 2B9
CEO: Lisa de Wilde
Board Chair: Peter O'Brian

Website: www.tvo.org
Charitable Reg. #: 85985 0232 RR0001

Sector: Education

Operating Charity

Charity Rating

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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 for current and previous years available on the charity's website [ Audited financial statement for most recent year ]

Need for Funding

Funding Reserves Program Costs

Spending Breakdown

Full-time staff #330

Avg. Compensation $88,963

Top 10 Staff Salary Range

$350k +	0
$300k - $350k	1
$250k - $300k	1
$200k - $250k	0
$160k - $200k	6
$120k - $160k	2
$80k - $120k	0
$40k - $80k	0
< $40k	0

Information from most recent CRA Charities Directorate filings for F2015

About TVOntario (TVO):

The Ontario Educational Communications Authority operates as TVO, with a vision to empower Ontarians through educational media. Its mission is to be “Ontario’s public educational media organization and a trusted source of interactive educational content that informs, inspires, and stimulates curiosity and thought.” TVO provides children and parents with educational resources through TVOKids, TVOKids.com and TVOParents.com. Its resources support the Ontario school curriculum, aiming to improve students’ success in school.

In F2015, more than 11 million Ontarians watched TVO on television. Further, its TVOKids programming reached over 1.2 million children aged 2 to 11. In F2015, TVO conducted over 500 interviews and debates on The Agenda, and produced over 500 blog posts on its site. TVO’s content and programming made up 41% of program spending in F2015, and its technical and production support services made up 34% of program spending.

TVO’s Homework Help program offers free online math tutoring services for students in grades 7 to 10. In F2015, 300 Ontario teachers and tutors made 647,514 learning interactions with Ontario students. TVO reports that students who use TVO’s Homework Help demonstrate improved EQAO math results. However, the charity does not provide quantitative evidence on its site.

TVO’s Independent Learning Centre (making up 25% of its programs) is an Ontario-designated provider of distance education. It is funded by the Ministry of Education, offering flexible, affordable and accredited distance education. In F2015, 19,436 students were registered for 26,363 courses. Further, 2,000 students completed the seven-hour set of GED tests.

Financial Review:

TVO is a large charity, with donations of $5.2m in F2015. The charity receives the majority of its revenues from the government, making up 84% of revenues in F2015. Its administrative costs are 12% of revenues. The charity’s fundraising costs are 47% of donations, which is 12% higher than in F2014. This is due to a 29% decrease in donations in F2015. For every $1 donated to the charity, 41 cents is put towards its programs, falling well below Ci’s reasonable range. The charity’s funding reserves of $29m result in a program cost coverage ratio of 65%. This means that the charity can cover 8 months of its annual programs using its existing reserves.

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

Updated on August 9, 2016 by Lynn Tay.

Financial Ratios Fiscal year ending March	2015	2014	2013
Administrative costs as % of revenues	11.8%	10.4%	11.0%
Fundraising costs as % of donations	47.0%	35.1%	61.1%
Program cost coverage (%)	65.1%	60.5%	48.4%

Summary Financial Statements All figures in $000s	2015	2014	2013
Donations	5,197	7,270	5,157
Government funding	50,583	50,655	53,306
Fees for service	2,974	3,099	3,180
Business activities (net)	1,012	980	1,162
Investment income	396	396	454
Other income	339	309	283
Total revenues	60,501	62,709	63,542
Program costs	44,507	42,572	48,944
Administrative costs	7,114	6,475	6,905
Fundraising costs	2,444	2,550	3,152
Cash flow from operations	6,436	11,112	4,541
Funding reserves	28,964	25,753	23,665

Note: Ci has adjusted amortization of deferred capital contributions, adjustment for deferred donations and asset disposal affecting revenues by ($1.4m) in F2015, by ($1.8m) in F2014, and by ($3.4m) in F2013. Ci has adjusted amortization of capital assets and accretion expense, and employee future benefits affecting expenses by ($6.4m) in F2015, by ($7.3m) in F2013, and by ($7.8m) in F2013.

Comments added by the Charity:

TVO made the following comments in 2013. Ci has asked the charity to provide updated comments.

TVO exists to ignite the potential that lies within everyone through learning. We are a streamlined and innovation-focused media organization that delivers educational programming and resources –on TV, online, in mobile apps and through live events across the province.

We help kids and parents learn – with innovative resources like TVOKids, TVOKids.com and TVOParents.com that support the Ontario school curriculum and success in school. We build citizen engagement – through programs like The Agenda with Steve Paikin that provide in-depth discussion on the big issues of the day. And we help people understand the world – through documentary programming that tells Ontario’s stories and provides every citizen a window on the world.

TVO operates in what is a very competitive environment to raise funds. Acquiring new donors is essential to the organization’s strategy but requires costs that are realized on the front end but have significant long-term value (like our use of Face to Face fundraisers to acquire monthly donors).

In order to be fully transparent, TVO uses an “all in” method to calculate fundraising costs which includes all associated fundraising endeavours and project costs.

TVO does not carry funding reserves for future programming. The dollar amount listed as a funding reserve in the chart above refers to committed reserves, or activities that have occurred in the past, and therefore not available to cover programming costs.

Over a five-year period TVO reduced operating costs by 10 per cent. We will continue to work to bring down the cost of fundraising and reduce our overall operating costs as we look to provide even more value to the people of Ontario.

Donor support helps TVO reach more people in more ways than ever before with quality content that “makes you think.” We are grateful for every contribution entrusted to us, and thank each partner for their vital support.