Fung Loy Kok Institute of Taoism
Toronto, ON M5T 1K3
Executive Director: Andrew Hung
Founder: Master Moy Lin Shin
Charitable Reg. #: 11893 4371 RR0001
Grade: CThe grade is based on the charity's public reporting of the work it does and the results it achieves.
Need for Funding
Cents to the Cause
Full-time staff #27
Avg. Compensation $52,988
Top 10 Staff Salary Range
|$300k - $350k||0|
|$250k - $300k||0|
|$200k - $250k||0|
|$160k - $200k||1|
|$120k - $160k||1|
|$80k - $120k||1|
|$40k - $80k||7|
About Fung Loy Kok Institute of Taoism:
Founded in 1983, Fung Loy Kok Institute of Taoism (FLKIT) works to reduce suffering by teaching the Tai Chi practices of Master Moy Lin Shin. Taoist Tai Chi is a set of 108 movements, intended to engage the whole body and increase relaxation. FLKIT observes teachings from Confucianism, Buddhism and Taoism. The charity is based in Canada and controls Fung Loy Kok Taoist Tai Chi International.
In F2016, FLKIT reported having approximately 12,000 Canadian participants of Taoist Tai Chi. Many of the participants attend weekly classes or weekend events.
Results and Impact:
In F2016, Fung Loy Kok Institute of Taoism surveyed 6,000 Canadian Tai Chi participants to examine the health effects of Tai Chi. Of the respondents, 5,194 reported improved balance, 4,036 experienced mental health effects, 841 saw doctors less frequently, and 438 say they avoided surgery because of Tai Chi. Among respondents who reported improved health, 81% (4,184) began seeing benefits within one year of starting Tai Chi.
Fung Loy Kok Institute of Taoism is a medium-sized charity, receiving $2.3m in donations and special events revenue during F2017. The charity collected $4.7m in fees for service from participants, reflecting 62% of total revenue. Administrative costs are 30% of revenues less investment income, and fundraising costs are 30% of donations. For every dollar donated, 40 cents go to the cause. This is outside of Ci’s reasonable range for overhead spending.
Ci calculates $3.8m in F2017 FLKIT gross funding reserves, an increase of 313% from $929k in F2016. The charity has $7.6m in interest-bearing liabilities, producing the negative program cost coverage. Excluding interest-bearing liabilities, FLKIT could cover 1.3 years of program costs using reserve funds.
This charity report is an update to be sent to Fung Loy Kok Institute of Taoism for review. Changes and edits may be forthcoming.
Updated on June 4, 2019 by Madison Kerr.
Financial RatiosFiscal year ending December
|Administrative costs as % of revenues||30.1%||30.9%||18.5%|
|Fundraising costs as % of donations||29.9%||22.6%||23.1%|
|Program cost coverage (%)||(136%)||(254.8%)||(227.8%)|
Summary Financial StatementsAll figures in $000s
|Fees for service||4,709||4,620||4,556|
|Business activities (net)||191||189||229|
|Cash flow from operations||1,416||1,365||3,365|