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Streetohome Foundation

525 Seymour Street, Suite 103
Vancouver, BC V6B 3H7
President & CEO: Rob Turnbull
Board Chair: John McLeron

Website: www.streetohome.org
Charitable Reg. #: 80818 9617 RR0001
Sector: Social Services - Homeless
Operating Charity

Donor Accountability

Grade: A

The grade is based on the charity's public reporting of the work it does and the results it achieves.

Financial Transparency

Audited financial statements available only through official request for information from Canada Revenue Agency [ Audited financial statement for most recent year ]

Need for Funding

Funding Reserves Program Costs

Spending Breakdown

Cents to The Cause

95¢
75¢
avg
65¢
50¢
2013 2014 2015
For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #0

Avg. Compensation $0

Top 10 Staff Salary Range

$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 F2015

About Streetohome Foundation:

Streetohome Foundation (Streetohome) was established in 2008 through a partnership between Vancouver Foundation, the City of Vancouver and the Province of British Columbia. Streetohome tackles homelessness by helping create safe, decent and affordable housing for homeless people or people at risk of becoming homeless in Vancouver. The charity does not directly provide housing – it funds charities and other non-profits in the Vancouver community that either build homes or run housing programs.

Streetohome Foundation granted $12.4m in F2015: $2.9m went to The Budzey project, $2.8m went to The Kettle on Burrard project, $2.8m went to the 111 Princess project, $2.0m went to the Kwayasut project, $1.4m went to the Taylor Manor project, $333k went to YMCA’s Cause We Care project, $80k went to Covenant House’s Semi-Independent Housing program, and $24k went to The Kettle Society’s Employment Program.

Streetohome Foundation’s major goal is to provide permanent stable housing with appropriate support services. Funding for this goal made up 99% of granting activities in F2015. These grants contributed to the construction of five new supportive housing buildings in F2015, opening 441 new homes for people. The Kettle on Burrard contains 141 units for people with mental health issues, Taylor Manor has 56 units for adults with mental health and addiction problems, the Kwayasut project has 99 units for Aboriginal people, 111 Princess can house 139 adults with severe mental health and addiction issues, and the Budzey has 147 units for single mothers and their children.

Streetohome Foundation’s second goal, preventing vulnerable people from becoming homeless, received 1% of F2015 funding with a $80k grant to Covenant House. Covenant House’s Semi-Independent Housing program helps homeless and at-risk youth with mental health and addiction problems. Streetohome states that this program has helped 106 youth since it started in 2012.

In its most recent F2015 annual report, Streetohome Foundation states that it prevented homelessness for 223 people. In its strategic plan, the charity states that every potentially homeless person who is cared for through housing programs and supportive services saves Vancouver’s social services and healthcare system $18k. This translates to an economic impact of $4.0m saved by Streetohome Foundation.

Financial Review:

The following financial analysis uses figures from unaudited financial statements Ci received after making a formal request for audited statements from Canada Revenue Agency. F2015 figures reflect the most recent information Ci received.

Streetohome Foundation is a medium-sized charity with total donations of $2.6m in F2015. Included in donations are contributions received from BC Housing, City of Vancouver, Vancouver Coastal Health and Vancouver Foundation ($485k in F2015, $510k in F2014 and $501k in F2013). Ci could not break out government funding from non-government contributions and thus included the total amount in donations.

Administrative costs are 6% of revenues and fundraising costs are 4% of donations. Per dollar donated to the Foundation, $0.90 goes towards its programs and grants, which falls within Ci’s reasonable range for overhead spending. The Foundation’s reserves of $4.1m can cover only 33% of annual program and granting costs in F2015. Streetohome Foundation reports grant commitments of $5.2m –  $1.5m in F2016, $1.8m in F2017, $1.8m in F2018.

This charity report is an update that is currently being reviewed by Streetohome Foundation. Comments and edits may be forthcoming.

Updated on August 16, 2017 by Katie Khodawandi.

Financial Ratios

Fiscal year ending December
201520142013
Administrative costs as % of revenues 6.2%1.8%1.3%
Fundraising costs as % of donations 4.1%1.8%1.3%
Program cost coverage (%) 32.7%2,907.4%167.7%

Summary Financial Statements

All figures in $000s
201520142013
Donations 2,647,8878,522,20111,270,509
Investment income 104,29342,6103,275
Total revenues 2,752,1808,564,81111,273,784
Program costs 166,144125,836122,513
Grants 12,357,218360,0005,735,267
Administrative costs 165,097155,751144,401
Fundraising costs 107,698152,973148,600
Cash flow from operations (10,043,977)7,770,2515,123,003
Funding reserves 4,093,67414,124,9999,822,802
Note: Ci gathered expense figures from the charity’s T3010 CRA filings. Ci did not recognize redeemed Streetohome investments. Ci recognized donations received, gifts transferred from the capital Fund, donations received directly in the capital Fund, donations received by Streetohome and forwarded to Vancouver Foundation, interest income recorded as deferred revenue, and interest income earned in the capital Fund, affecting total revenues by ($10m) in F2015, $7.7m in F2014, and $5.0m in F2013. F2013 funding reserves include the $8.6m capital fund held by Vancouver Foundation. 

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