TVOntario (TVO)
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.
63%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 63 cents are available for programs.
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OVERVIEW
About TVOntario (TVO):
TVOntario (TVO) is a 3-star charity. It is financially transparent, has a below-average results reporting grade, and overhead spending outside Ci's reasonable range.
The Ontario Educational Communications Authority operates as TVOntario (TVO) and is the Government of Ontario's partner in digital learning. TVO delivers content, services, and technology to create digital learning experiences. The charity makes children's television shows, educational resources, documentaries, digital videos, podcasts, and articles on current events. It also operates Ontario's largest online high school. TVO runs four main programs: TVO Learn, TVOkids, Independent Learning Centre (TVO ILC), and TVO Today. The charity does not provide a breakdown of spending on its programs.
TVO Learn provides students, teachers, and families with free digital learning resources to aid with the Ontario K-12 curriculum. The charity's main educational programs are TVO Mathify and TVO mPower. TVO Mathify offers students (grades 4-11) free, live, one-on-one math tutoring with Ontario Certified Teachers. In F2022, TVO Mathify provided 120,000 student-tutor chat sessions. TVO mPower offers over 65 games to teach math and STEM skills. Math games were played 1.9 million times on mPower in F2022. TVO Learn also provides elementary course packs, the Ontario Online Course Preview platform for secondary students, and Open House, which provides access to over 140 courses designed by Ontario Certified Teachers.
TVOkids is TVO's children's entertainment program, providing over 80 TV programs and 130 digital games. In F2022, TVOkids launched 14 new programs and had 58.6 million views.
TVO's Independent Learning Centre (TVO ILC) provides online schooling for Canadian and international students to earn a high school diploma. Ontario students pay $40 per course and complete them on a flexible schedule. ILC had over 21,500 registered students in F2022. As of March 31, 2022, ILC had 664 international students.
TVO Today offers current affairs journalism, documentaries, and podcasts. The charity's network of journalists, Ontario Hubs, had 1.3 million page views in F2022. TVO reports that the average session length for Ontario Hubs videos was 2:31 minutes in F2022. TVO Today also ran six podcasts in F2022, three of which were new.
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Results and Impact
In F2022, TVO's current affairs, documentary, and children's programming won 12 Canadian Screen awards.
While Ci highlights these key results, they may not be a complete representation of TVO's results and impact.
This charity is not yet rated on impact (n/r).
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Finances
TVO had donations of $5.3m in F2022. The charity also received $50.2m in government funding, representing 82% of total revenue.
Administrative costs are 8% of total revenues (less investment income), and fundraising costs are 29% of total donations. This results in total overhead spending of 37%. For every dollar donated to the charity, 63 cents go to the cause, which is outside of Ci's reasonable range for overhead spending. Over the past three years, average overhead spending was 47%.
TVO has $49.4m in reserve funds (cash and investments), which can cover 93% or just over 11 months of its annual program costs.
TVO uses external fundraisers as part of its fundraising activities. In F2022, TVO reported paying $15k to external fundraisers to raise $28k. TVO paid 55 cents for every dollar raised by the external fundraiser in F2022, 97 cents in F2021, and $1.70 in F2020.
This charity report is an update that has been sent to TVO for review. Changes and edits may be forthcoming.
Updated on August 2, 2023, by Sydney Olexa.
Financial Review
Fiscal year ending March
|
2022 | 2021 | 2020 |
---|---|---|---|
Administrative costs as % of revenues | 7.7% | 9.3% | 8.6% |
Fundraising costs as % of donations | 29.0% | 38.4% | 47.8% |
Total overhead spending | 36.8% | 47.7% | 56.3% |
Program cost coverage (%) | 92.5% | 86.9% | 83.1% |
Summary Financial StatementsAll figures in $000s |
2022 | 2021 | 2020 |
---|---|---|---|
Donations | 5,268 | 6,779 | 6,631 |
Government funding | 64,943 | 49,742 | 50,913 |
Fees for service | 4,011 | 4,234 | 3,109 |
Business activities (net) | 1,023 | 1,015 | 1,063 |
Investment income | 367 | 472 | 842 |
Other income | 359 | 325 | 860 |
Total revenues | 75,971 | 62,567 | 63,418 |
Program costs | 53,387 | 42,730 | 40,729 |
Administrative costs | 5,845 | 5,745 | 5,371 |
Fundraising costs | 1,529 | 2,606 | 3,166 |
Other costs | 683 | 521 | 382 |
Total spending | 61,444 | 51,602 | 49,648 |
Cash flow from operations | 14,527 | 10,965 | 13,770 |
Capital spending | 8,600 | 8,682 | 10,067 |
Funding reserves | 49,366 | 37,153 | 33,851 |
Note: Ci excluded gain (loss) on asset disposal from revenues, affecting revenues by $nil in F2022, ($1k) in F2021, and ($4k) in F2020. Ci adjusted for deferred donations, government funding, fees for service, business activities, and other income, affecting revenues by ($13.6m) in F2022, $14.0m in F2021, and $915k in F2020. Ci included amortization of deferred capital contributions in other income and adjusted for deferred capital contributions, affecting revenues by ($755k) in F2022, ($772k) in F2021, and ($643k) in F2020. Ci included broadcast rights additions in capital expenditures. To report on a cash basis, Ci adjusted for grant receivable from the Ministry of Education, affecting revenues by $14.7m in F2022, ($14.7m) in F2021, and $nil in F2020.
Salary Information
$350k + |
1 |
$300k - $350k |
0 |
$250k - $300k |
1 |
$200k - $250k |
1 |
$160k - $200k |
7 |
$120k - $160k |
0 |
$80k - $120k |
0 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2022
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Comments & Contact
Comments added by the Charity:
Charity Contact
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