Streettohome
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.
B-
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.
66%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 66 cents are available for programs.
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OVERVIEW
About Streettohome:
Streetohome is a 1-star charity. It has a B- results reporting grade, which is below average. The charity has a Low impact rating based on demonstrated social impact per dollar spent. Its overhead spending is within Ci’s reasonable range, and it has reserve funds to cover two years and 11 months of its annual program costs.
Founded in 2008, Streetohome aims to address homelessness and its impact in Vancouver. Streetohome does not directly provide housing. It funds charities and other non-profits in Vancouver that build homes or run housing programs. The charity also advises the private sector to fund initiatives that address homelessness. Streetohome reports that it has contributed to housing stability for nearly 9,000 individuals since its founding. The charity has contributed to 35 projects: 23 supportive housing buildings and 12 prevention projects, since 2008.
The following information is for 2022. Streetohome’s annual report for 2023 is not available on its website at the time of this update. Streetohome provided funding to three initiatives in 2022: Recovery Café, Want2, and STEP. In 2022, Streetohome granted $623k.
Streetohome gave $400k (64% of grants disbursed) to Recovery Café in 2022. Streetohome partnered with The Kettle Society (Vancouver) and the Recovery Café Network (Seattle) on this project. Recovery Café opened its permanent flagship location in Vancouver in Winter 2022. It provides a community of mutual support for people recovering from poverty, homelessness, mental health challenges, or substance use. The Recovery Café model is a free membership model that originated in Seattle. It has been implemented in over 30 communities across the U.S. Recovery Café Vancouver aims to support up to 300 at-risk individuals. The Kettle Society has also opened a pop-up location for prospective members.
Streetohome gave $100k to STEP (16% of grants disbursed) in 2022. STEP stands for Supporting Tenants, Enabling Pathways. Streetohome partnered with BC Housing, the City of Vancouver, and Vancouver Coastal Health on this project. The program aims to ensure supportive housing units in Vancouver are available for those most in need of support. It identifies individuals willing to move from supportive housing to other affordable housing. STEP then helps these individuals find and move into affordable housing.
Streetohome gave $80k to Want2 (13% of grants disbursed) in 2022. Want2 is a mobile and web app. It is based on the Life Intentions Action Planner paper tool. Want2 helps people focus on their personal goals and find free resources. It was launched in June 2022. Want2 users can navigate and self-refer to over 500 free support services and opportunities. They can also use the app to chat with family, friends, and service providers for support.
Streetohome gave $41k (7% of grants disbursed) to Streetohome Strategic Planning, Streetohome Admin Employment Pilot, and Delaney Street BC in 2022. It gave $3k to ATC facilitator training.
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Results and Impact
Streetohome reports that since its founding, it has helped 2,669 vulnerable individuals who will not be included in future homelessness counts.
Streetohome reports the outcomes of the programs it has supported. Over 200 individuals with lived homelessness experience have found a job with WorkWithUs since 2017. Over 140 Homeward Bound participants have moved to a chosen community with supports since 2019. Over 120 individuals have moved from supportive to affordable housing through STEP since 2017. Vancouver Rent Bank has issued over 1,600 loans since 2012, helping over 1,400 individuals avoid homelessness.
While Charity Intelligence highlights these key results, they may not be a complete representation of Streetohome’s results and impact.
Charity Intelligence has given Streetohome a Low impact rating based on demonstrated social impact per dollar spent.
Impact Rating: Low
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Finances
Streetohome is not financially transparent. Ci received its audited financial statements from the CRA for this profile update.
Streetohome is a small charity, meaning it receives less than $1.0m in donations. In 2023, Streetohome received $693k in donations. It also received $400k in government funding (31% of total revenue). Streetohome made $190k (15% of total revenue) in investment income in 2023. Administrative costs are 21% of total revenue (excluding investment income) and fundraising costs are 13% of donations. Overhead spending is 34%, which is just within Ci’s reasonable range. For every dollar donated, 66 cents are available for the cause. In 2023, Streetohome spent $1.6m on its programs and grants (126% of total revenue).
In 2023, Streetohome had a deficit of $660k and reported no spending on capital expenditures.
At the end of 2023, Streetohome had $4.7m in reserve funds (cash and investments). This can cover 289% or two years and 11 months of its annual program costs.
This charity profile is an update that was sent to Streetohome for review. Changes and edits may be forthcoming.
Updated on August 1, 2024 by Thea Clark.
Financial Review
Fiscal year ending December
|
2023 | 2022 | 2021 |
|---|---|---|---|
| Administrative costs as % of revenues | 21.4% | 25.0% | 16.3% |
| Fundraising costs as % of donations | 12.6% | 17.0% | 8.7% |
| Total overhead spending | 34.0% | 42.0% | 25.0% |
| Program cost coverage (%) | 289.2% | 633.9% | 1,251.6% |
Summary Financial StatementsAll figures in $s |
2023 | 2022 | 2021 |
|---|---|---|---|
| Donations | 692,701 | 496,143 | 901,833 |
| Government funding | 400,000 | 400,000 | 400,000 |
| Investment income | 189,998 | 35,785 | 41,501 |
| Other income | 2,568 | 2,106 | 2,015 |
| Total revenues | 1,285,267 | 934,034 | 1,345,349 |
| Program costs | 238,768 | 233,078 | 220,036 |
| Grants | 1,385,275 | 623,053 | 234,622 |
| Administrative costs | 233,853 | 224,506 | 212,204 |
| Fundraising costs | 87,459 | 84,507 | 78,472 |
| Total spending | 1,945,355 | 1,165,144 | 745,334 |
| Cash flow from operations | (660,088) | (231,110) | 600,015 |
| Capital spending | 0 | 0 | 0 |
| Funding reserves | 4,696,715 | 5,426,949 | 5,690,405 |
Note: ADMINISTRATIVE AND FUNDRAISING COSTS: The charity does not provide administrative and fundraising costs in its audited financial statements. Ci used the charity’s T3010 filing with the CRA to determine administrative and fundraising costs, and removed these amounts from program costs. DEFERRED REVENUE: Ci adjusted for deferred revenue, affecting total revenue by ($832k) in 2023, ($274k) in 2022, and $515k in 2021. INTEREST ON DEFERRED REVENUE: Ci reported interest income recorded in deferred revenue as investment income, affecting total revenues by $169k in 2023, $20k in 2022, and $20k in 2021. GRANTS: The charity reports grants below the line in its audited financial statements. Ci reported grants in expenses, affecting total expenses by $1.4m in 2023, $623k in F2022, and $235k in F2021.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
1 |
$160k - $200k |
0 |
$120k - $160k |
0 |
$80k - $120k |
0 |
$40k - $80k |
2 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2023
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Comments & Contact
Comments added by the Charity:
Charity Contact
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