Canadian Foodgrains Bank
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✔+
FINANCIAL TRANSPARENCY
Audited financial statements for current and previous years available on the charity’s website.
A+
RESULTS REPORTING
Grade based on the charity's public reporting of the work it does and the results it achieves.
High
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.
84%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 84 cents are available for programs.
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OVERVIEW
About Canadian Foodgrains Bank:
Canadian Foodgrains Bank is a 5-star rated charity and a top 10 impact charity. It has an A+ grade in results reporting, high demonstrated impact, best practices in financial transparency, and reasonable overhead spending. For every dollar donated to Canadian Foodgrains Bank, 84 cents are available to go to the cause.
Founded in 1983, Canadian Foodgrains Bank (CFGB) is a Christian International Aid charity that is dedicated to eliminating global hunger. It runs both short term hunger response programs and longer-term programs focused on addressing the systemic causes of hunger. CFGB states that in 2023-2024, there were 783 million people suffering from critical levels of hunger around the world. It reports that 98% of people who experience hunger live in developing countries.
A Charity Intelligence 2023 Top Impact Charity
The charity runs two main groups of programs: Emergency Food Assistance and Agriculture and Livelihoods. The Emergency Food Assistance programs aim to respond to crises and distribute food to those in need. The Agriculture and Livelihoods programs aim to address the root causes of hunger and provide long-term support and financial assistance. In F2024, the charity helped 1,103,795 people in 35 countries. It ran 81 projects in Africa, five in the Americas, eight in Asia, and five in the Middle East. It ran 135 total projects.
Its Food Assistance programs account for 61% of the charity’s spending. In F2024, CFGB spent $46,267,533 on these programs. Overall, it served 333,922 people with its Food Assistance programs in 16 countries.
Its Agriculture and Livelihoods programs received 34% of the charity’s program spending. In F2024, CFGB spent $25,896,180 on its Agriculture and Livelihoods programs. The programs reached 523,127 people in 24 countries.
The remaining 4% of program spending went towards Public Policy and Public Engagement programs (as well as other miscellaneous spending). The charity’s public policy work involves advocating for legislative changes, such as climate adaptation funding. The charity’s public engagement work aims to build public awareness of hunger and increase public support for its mission.
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Results and Impact
In F2023, Canadian Foodgrains Bank distributed 12,479 metric tonnes of food. It gave out $7.1m worth of cash vouchers. It states that because of its work, 227,767 crisis-affected individuals had increased access to food. The charity has not updated these outcome metrics for the 2024 fiscal year at the time of writing.
Charity Intelligence highlights these key results. They may not be a complete representation of Canadian Foodgrains Bank’s results and impact.
Charity Intelligence rates Canadian Foodgrains Bank as High in demonstrated impact per dollar spent.
Impact Rating: High
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Finances
In F2024, Canadian Foodgrains Bank received $24.2m in Canadian donations and $2.6m in international donations. It also received $38.0m in government funding, accounting for 48% of revenues in F2024. Fundraising costs are 9% of donations and administrative costs are 7% of revenues, for a total overhead spending of 16%. For every dollar donated, 84 cents are available to go to the cause. This is within Ci’s reasonable range for overhead spending.
CFGB has reserve funds of $75.5m. This is enough to cover program costs for just over a year at the F2024 level.
This charity report is an update that has been sent to Canadian Foodgrains Bank for review. Changes and edits may be forthcoming.
Updated July 18, 2024 by Ben Dobozy
Financial Review
Fiscal year ending March
|
2024 | 2023 | 2022 |
|---|---|---|---|
| Administrative costs as % of revenues | 7.5% | 5.0% | 5.1% |
| Fundraising costs as % of donations | 8.5% | 8.0% | 7.8% |
| Total overhead spending | 16.0% | 12.9% | 12.9% |
| Program cost coverage (%) | 100.2% | 103.4% | 137.8% |
Summary Financial StatementsAll figures in $000s |
2024 | 2023 | 2022 |
|---|---|---|---|
| Donations | 24,162 | 24,401 | 19,205 |
| International donations | 2,637 | 1,127 | 1,171 |
| Goods in kind | (56) | 0 | 0 |
| Government funding | 37,973 | 46,724 | 35,148 |
| Fees for service | 90 | 90 | 90 |
| Investment income | 2,007 | 1,225 | 465 |
| Other income | 11,445 | 12,014 | 10,861 |
| Total revenues | 78,257 | 85,582 | 66,940 |
| Program costs - International | 41,118 | 40,447 | 27,016 |
| Program costs - Canada | 1,183 | 1,093 | 988 |
| Grants | 33,065 | 33,591 | 23,672 |
| Administrative costs | 5,693 | 4,175 | 3,413 |
| Fundraising costs | 2,055 | 1,951 | 1,493 |
| Other costs | 0 | 0 | 0 |
| Total spending | 83,114 | 81,257 | 56,583 |
| Cash flow from operations | (4,857) | 4,325 | 10,358 |
| Capital spending | 123 | 102 | 54 |
| Funding reserves | 75,490 | 77,676 | 71,214 |
Note: Ci reported total international donations from the charity’s T3010 filing with the CRA and backed the amount from Canadian donations. Ci reported unrealized gain (loss) on investments in investment income, affecting revenues and expenses by $631k in F2024, $77k in F2023, ($41k) in F2022. Ci included foreign exchange gains (loss) in investment income, affecting total revenues by ($1k) in F2024, ($13k) in F2023, and ($34k) in F2022. Ci adjusted for changes in deferred Canadian donations, affecting total revenues by $1.5m in F2024, ($126k) in F2023, and ($674k) in F2022. Ci adjusted for changes in deferred international donations, affecting total revenues by $640k in F2024, ($455k) in F2023, and $285k in F2022. Ci adjusted for changes in deferred government revenues, affecting total revenues by ($9.0m) in F2024, $4.0m in F2023, and $3.4m in F2022. Ci reported total grants from the charity’s T3010 filing with the CRA and backed the amount out of international program costs. To report on a cash basis, Ci backed out amortization from international program costs, administrative costs, and fundraising costs on a pro-rata basis.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
1 |
$120k - $160k |
4 |
$80k - $120k |
5 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2024
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Comments & Contact
Comments added by the Charity:
Charity Contact
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