Opportunity International Canada
Toronto, ON M9B 6H7
President & CEO: Dale Patterson
Board Chair: Robert J Lawless
Charitable Reg. #: 87751 6385 RR0001
Grade: A-The grade is based on the charity's public reporting of the work it does and the results it achieves.
Need for Funding
Full-time staff #6
Avg. Compensation $103,823
Top 10 Staff Salary Range
|$300k - $350k||0|
|$250k - $300k||0|
|$200k - $250k||0|
|$160k - $200k||0|
|$120k - $160k||2|
|$80k - $120k||1|
|$40k - $80k||3|
About Opportunity International Canada:
Opportunity International Canada (OIC), the Canadian support partner of the US-based Opportunity International, is a faith-based organization that serves individuals of all beliefs in the developing world. Its mission is to “empower people living in poverty to transform their lives, their children’s futures and their communities” by providing financial solutions and training. OIC supports local microfinance organizations, providing innovative financial solutions to empower people, create jobs and build vibrant communities.
Globally, Opportunity International's microfinance services include lending, savings, microinsurance and financial training. OIC offers financial products aimed at helping farmers, creating leaders and empowering women. Its philanthropic efforts provide education to children and deliver technology to poverty-stricken communities.
In F2016, Opportunity International served 9.6 million people in 22 countries in Africa, Asia, Latin America and Eastern Europe. Opportunity International distributed $1.6 billion to 9.6 million loan clients, with the average first loan to a trust group member at $239. OI reports that 95% of the loans are made to women and that it has a loan repayment rate of 99%. OIC also reports that 4.7 million clients have savings totaling $215 million. OIC has also calculated that every $1 invested creates $6 over five years.
In Uganda, OIC measured customer loyalty using the Net Promoter Score, which is a measurement of how likely clients are to recommend the bank to the community. The study found an overall net promoter score of 26%. Using these results, OIC implemented customer service changes that resulted in a decrease in client complaints.
OIC is a large charity, with donations of $8.5m in F2016. Its administrative costs are 4% of revenues and its fundraising costs are 10% of donations. For every $1 donated to the charity, 86 cents is put towards its programs, falling within Ci’s reasonable range. The charity’s funding reserves of $5.7m includes $4.6m in donor-endowed funds. This results in a program cost coverage ratio, excluding donor-endowed funds, of 16%. This means that the charity can cover 2 months of its annual programs using its existing reserves.
Ci has consolidated the financial statements of the Opportunity International Canada Foundation with those of Opportunity International Canada. For F2016, only the balance sheet of the foundation was included in the consolidation as Opportunity International Canada changed its year-end from June to December. For F2014 and F2015, the Foundation and OIC were fully consolidated.
This charity report is an update that is being reviewed by Opportunity International Canada. Changes and edits may be forthcoming.
Updated on August 8th, 2017 by Josh Lam.
Financial RatiosFiscal year ending December
|Administrative costs as % of revenues||4.1%||1.8%||2.9%|
|Fundraising costs as % of donations||10.0%||7.7%||6.4%|
|Program cost coverage (%)||80.4%||53.2%||57.4%|
Summary Financial StatementsAll figures in $000s
|Program costs - International||6,488||10,147||11,200|
|Program costs - Canada||606||562||906|
|Cash flow from operations||191||(1,217)||(720)|