VOCM Cares
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.
NR
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.
16%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 16 cents are available for programs.
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OVERVIEW
About VOCM Cares:
Founded in 1983, the VOCM Cares Foundation (VOCM Cares) funds projects of local Newfoundland charities that focus on the health, education and safety of people in the provincial community. VOCM Cares provided funding to projects for 18 charities in F2018. Examples of the organizations include CBS Lion’s Club, Special Olympics NL, and Ronald McDonald House NL.
July 3, 2020: Removing VOCM Foundation from Charity Intelligence's research coverage of charities. In 2011, VOCM Foundation received donations of over $2 million and Charity Intelligence began coverage of this public foundation as it was one of the largest in Newfoundland. In 2017 VOCM is a small charity with $97k in donations and special events. If you would like this report on VOCM Foundation updated, please contact Charity Intelligence.
VOCM Cares is a public foundation of Steele Communications, which is the Newfoundland division of the national radio broadcasting company Newcap Radio. VOCM Cares uses its strong connections with Steele Communications to run multiple fundraising events, including Super Radio Bingo, annual golf tournaments and Happy Tree concerts. The costs associated with the charity’s Super Radio Bingo fundraiser account for the majority of VOCM Cares' operating costs.
One program VOCM Cares helped fund was Block the Bus. This program provided back to school supplies for families in need. In F2018, over 650 bags with supplies were filled and distributed.
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Finances
VOCM Cares is a small-sized charity with total donations and special events fundraising revenues of $97k in F2017. Administrative costs are 29% of revenues and fundraising costs (excluding Super Radio Bingo) are 55% of donations. For every dollar donated 16 cents go to the cause, which is outside Ci’s reasonable range for overhead spending.
Radio Bingo revenues are reported net of expenses within business activities revenue, decreasing total revenues and expenses by $692k in F2017, $781k in F2016 and $672k in F2015. However, VOCM Cares’ annual Super Radio Bingo fundraiser raised $1.1m in F2017, representing just over 90% of total revenue reported in the audited financial statements.
VOCM Cares holds funding reserves of $855k, which cover annual program costs related to project funding for 2.9 years.
VOCM Cares reports no compensation details in its T3010 CRA filing.
This charity report is an update that is currently being reviewed by VOCM Cares. Changes and edits may be forthcoming.
Updated on August 7, 2019 by Parker Thomlinson.
Financial Review
Fiscal year ending August
|
2017 | 2016 | 2015 |
|---|---|---|---|
| Administrative costs as % of revenues | 29.3% | 23.0% | 34.0% |
| Fundraising costs as % of donations | 55.1% | 31.2% | 19.4% |
| Total overhead spending | 84.4% | 54.2% | 53.4% |
| Program cost coverage (%) | 289.8% | 221.5% | 175.7% |
Summary Financial StatementsAll figures in $s |
2017 | 2016 | 2015 |
|---|---|---|---|
| Donations | 6,870 | 37,252 | 97,974 |
| Business activities (net) | 403,309 | 619,712 | 399,697 |
| Special events | 90,081 | 146,381 | 161,671 |
| Investment income | 6,428 | 6,971 | 6,385 |
| Other income | 5,778 | 5,201 | 2,450 |
| Total revenues | 512,466 | 815,517 | 668,177 |
| Program costs | 294,946 | 364,350 | 348,251 |
| Administrative costs | 148,078 | 186,194 | 224,932 |
| Fundraising costs | 53,429 | 57,326 | 50,413 |
| Total spending | 496,453 | 607,870 | 623,596 |
| Cash flow from operations | 16,013 | 207,647 | 44,581 |
| Funding reserves | 854,747 | 807,167 | 611,792 |
Note: VOCM Cares reports no compensation details in its T3010 CRA filing. Radio Bingo revenues are reported net of expenses within business activities revenue, decreasing total revenues and expenses by $692k in F2017, $781k in F2016 and $672k in F2015. Ci backed out amortization from administrative costs.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
0 |
$80k - $120k |
0 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2017
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Comments & Contact
Comments added by the Charity:
Charity Contact
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