Fung Loy Kok Institute of Taoism
Toronto, ON M5T 1K3
Executive Director: Andrew Hung
Founder: Master Moy Lin Shin
Website: www.taoist.org
Charitable Reg. #: 11893 4371 RR0001
Charity Rating
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
Need for Funding
Spending Breakdown
Cents to The Cause
| ♦ | ♦ | ♦ | |
| 95¢ | |||
| 75¢ | |||
| avg | |||
| 65¢ | |||
| 50¢ | |||
| 2013 | 2014 | 2015 |
Full-time staff #24
Avg. Compensation $57,375
Top 10 Staff Salary Range
| $350k + | 0 |
| $300k - $350k | 0 |
| $250k - $300k | 0 |
| $200k - $250k | 0 |
| $160k - $200k | 1 |
| $120k - $160k | 0 |
| $80k - $120k | 1 |
| $40k - $80k | 8 |
| < $40k | 0 |
About Fung Loy Kok Institute of Taoism:
Founded in 1983, Fung Loy Kok (FLK) Institute of Taoism observes the unified teachings of the three religions of Confucianism, Buddhism and Taoism. It aims to make the Taoist Tai Chi arts available to every community and to promote the health benefits of this ancient practice. All FLK instructors are volunteers and all of its branches are run by volunteers.
FLK has two main programs: International Centre Programs and Health Recovery Programs. The International Centre Programs involve various activities for the advancement of physical, mental and spiritual well-being. These activities are aimed towards the development of the participant's heart, mind and body. Health Recovery Programs are focused on helping people with chronic illness, injuries and aging problems. The charity states that these programs have proven to be effective as complementary therapy in aiding and speeding recovery. FLK also aims to promote awareness about Taoist Tai Chi among the public. The charity hosts an event called International Awareness Day once every year.
In F2016, Fung Loy Kok Institute of Taoism hosted a “Danyu Challenge”, where participants in Canada collectively did 4,893,767 danyus, a squatting exercise focusing on the pelvic region, legs, and lower back. FLK’s programs had a total of 11,721 participants in F2016, with 74% of them being senior citizens. In a nationwide health survey regarding the use of its services, FLK claims over 500 respondents report being able to avoid surgery because of FLK’s programs.
Financial Review:
Fung Loy Kok Institute of Taoism is a medium-sized charity with donations of $1.1m in F2015. Its administrative costs were 8% of revenues, and its fundraising costs were 36% of donations. For every dollar donated, 56 cents go towards FLK’s programs, falling outside of Ci’s reasonable range. FLK has negative funding reserves due to having $8.8m in bank loans. This results in a negative program cost coverage ratio, meaning that the charity cannot fund any of its annual program costs using its reserves, showing a need for funding.
This charity report is an update that is being reviewed by FLK. Changes and edits may be forthcoming.
Updated June 8, 2017 by Kevin Silberberg.
Financial RatiosFiscal year ending December |
2015 | 2014 | 2013 |
|---|---|---|---|
| Administrative costs as % of revenues | 7.8% | 11.4% | 11.9% |
| Fundraising costs as % of donations | 36.0% | 48.0% | 49.4% |
| Program cost coverage (%) | (150.7%) | (208%) | (164%) |
Summary Financial StatementsAll figures in $000s |
2015 | 2014 | 2013 |
|---|---|---|---|
| Donations | 1,082 | 1,143 | 1,117 |
| Goods in kind | 655 | 374 | 419 |
| Fees for service | 6,907 | 7,272 | 6,462 |
| Business activities (net) | 229 | 265 | 239 |
| Other income | 297 | 66 | 229 |
| Total revenues | 9,170 | 9,119 | 8,466 |
| Program costs | 4,472 | 4,320 | 4,332 |
| Grants | 1 | 2 | 20 |
| Administrative costs | 712 | 1,035 | 1,006 |
| Fundraising costs | 389 | 548 | 551 |
| Other costs | 582 | 508 | 571 |
| Cash flow from operations | 3,015 | 2,705 | 1,985 |
| Funding reserves | (6,740) | (8,991) | (7,137) |
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The information in this report was prepared by Charity Intelligence Canada and its independent analysts from publically-available information. Charity Intelligence Canada and its analysts have made endeavours to ensure that the data in this report is accurate and complete but accept no liability. No attempt has been made to examine the effectiveness of the charities' programs.
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