Murchison 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.
8%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 8 cents are available for programs.
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OVERVIEW
About Murchison Foundation:
Founded in 1984, Murchison Foundation aims to assist in providing programs and services for people experiencing mental illness on Prince Edward Island. The foundation works to achieve this by supporting the Canadian Mental Health Association of Prince Edward Island (CMHA-PEI). The foundation is named after Dr. Alexander J. Murchison, a doctor who worked in mental health in P.E.I. services for over 30 years. Dr. Murchison’s efforts brought great progress in treatment facilities to P.E.I.
Murchison Foundation raises money through special events. In F2018, the foundation ran three bingo events in Charlottetown, Summerside, and Alberton. The foundation also rents out corporate spaces for meetings and events at its Charlottetown location. In F2018, the foundation raised $4.6m from fundraising events; however, only $111k (2.4% of raised funds) was granted to CMHA-PEI throughout the year.
Major outputs reported by CMHA-PEI for F2018 included 17 housing units being directly supported under its clubhouse program as well as an additional 121 independent housing units being supported. Through the clubhouse program, 563 individuals received psycho-social rehab, 151 individuals were provided with safe and affordable housing, 202 individuals gained employment, and 50 people returned to school.
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Finances
Murchison Foundation is a medium-sized charity with $4.6m in special events fundraising in F2018. Administrative costs were 16% of revenues and fundraising costs were 76% of special events revenue. For every $1 donated, 8 cents go to the cause. This is outside of Charity Intelligence’s reasonable range for overhead spending. Funding reserves are ($433k) due to $493k in interest-bearing debt.
This charity report is an update that has been sent to Murchison Foundation. Changes and edits may be forthcoming.
Updated on July 11, 2019 by Stefan Tetzlaff.
Financial Review
Fiscal year ending March
|
2018 | 2017 | 2016 |
|---|---|---|---|
| Administrative costs as % of revenues | 15.8% | 15.2% | 17.5% |
| Fundraising costs as % of donations | 76.4% | 76.0% | 77.1% |
| Program cost coverage (%) | (389.0%) | (398.4%) | (508.4%) |
Summary Financial StatementsAll figures in $s |
2018 | 2017 | 2016 |
|---|---|---|---|
| Special events | 4,635,493 | 4,667,000 | 4,305,243 |
| Total revenues | 4,635,493 | 4,667,000 | 4,305,243 |
| Grants | 111,330 | 129,996 | 97,497 |
| Administrative costs | 732,197 | 708,765 | 751,879 |
| Fundraising costs | 3,541,690 | 3,548,078 | 3,318,979 |
| Cash flow from operations | 250,276 | 280,161 | 136,888 |
| Capital spending | 0 | 0 | 0 |
| Funding reserves | (433,064) | (517,966) | (495,686) |
Note: Ci allocated advertising costs to fundraising, decreasing administrative costs by $36k in F2018, $32k in F2017, and $37k in F2016. Depreciation expenses were removed from administrative costs, decreasing administrative costs be $65k in F2018, $67K in F2017, and $57k in F2016.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
0 |
$80k - $120k |
0 |
$40k - $80k |
2 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2018
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Comments & Contact
Comments added by the Charity:
Charity Contact
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