Society for Manitobans with Disabilities Foundation

About Society for Manitobans with Disabilities Foundation:

Founded in 1992, Society for Manitobans with Disabilities Foundation (SMD Foundation) is the provincial arm for Easter Seals Canada and raises funds in Manitoba for two associated charities: Society for Manitobans with Disabilities (SMD) and SMD Clearinghouse. SMD Foundation claims that its granting activities totalled $616k in F2015.

SMD operates out of Winnipeg and runs education, counselling and therapy programs for the estimated 210,000 disabled people in Manitoba. In F2015, SMD reached 47,000 disabled people with the help of SMD Foundation grants. SMD Foundation granted $289k to SMD in F2015, representing 47% of reported grants in SMD Foundation’s audited financial statements.

SMD Clearinghouse, also based in Winnipeg, received $220k from SMD Foundation in F2015, making up 36% of reported grants. SMD Clearinghouse runs financial literacy and access programs such as Saving Circle and the IDA program for disabled Manitobans. The charity also offers administrative and consultative services for other charities that run self-help programs for disabled people.

Society for Manitobans with Disabilities Foundation’s Assistive Technology Support Program helps disabled people afford assistive technology and equipment by covering 50% of the cost, up to a maximum of $2,500. In F2015, SMD Foundation reports that it granted over $58k and helped 55 people.

As the provincial arm for Easter Seals Canada, Society for Manitobans with Disabilities Foundation operates under the Easter Seals Manitoba banner to run two programs. The Travel Assistance program is for disabled people who cannot travel without an attendant. SMD Foundation administers Disability Travel Cards to eligible recipients so that they can travel at a reduced cost. Access 2 Entertainment is also for disabled people who need a support person with them at all times. SMD Foundation hands out Access 2 Cards that give the support person free or discounted admission at movie theaters.

Financial Review:

Society for Manitobans with Disabilities Foundation is a medium-sized charity with total donations and special events fundraising of $1.6m in F2015. Administrative costs are 24% of revenues and fundraising costs are 74% of donations. According to Ci’s analysis, $0.98 of every donated dollar goes toward overhead costs, which falls well above Ci’s reasonable range for overhead spending. F2015 grants include $289k to SMD and $220k to SMD Self-Help Clearinghouse, gathered from the Foundation’s T3010 CRA filing.

SMD Foundation’s net investment income of $890k in F2015 earned an 8.1% return on investment (F2014: 9.1%). Total investment income reported in the financial analysis below includes lottery endowment interest income of $531k in F2015, $531k in F2014 and $503k in F2013. SMD Foundation holds $11.7m in investments, of which 46% are Canadian, American and International equities and 29% are Canadian bonds.

Society for Manitobans with Disabilities Foundation’s funding reserves total $12.0m and can cover annual program and granting costs for 14.9 years. Of these reserves, $3.2m are permanently maintained in endowments. Excluding endowed funds, reserves can cover annual program and granting activities for 13.6 years.

Ci included SMD Foundation’s annual lottery revenue of $523k in F2015, $576k in F2014 and $685k in F2013 in special event fundraising. The associated costs are included in fundraising expenses, as the audited financial statements do not provide a breakdown.

This charity report is an update that is currently being reviewed by Society for Manitobans with Disabilities Foundation. Changes and edits may be forthcoming.

Updated on August 15, 2016 by Katie Khodawandi.