1155 Yonge St.
Toronto, ON M4T 1W2
Executive Director: Arthur Peters
Board Chair: Michael McBride

Charitable Reg. #:13063 2474 RR0001

STAR RATING

Ci's Star Rating is calculated based on the following independent metrics:

[Charity Rating: 2/5]

✔+

FINANCIAL TRANSPARENCY

Audited financial statements for current and previous years available on the charity’s website.

C

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.

90%

CENTS TO THE CAUSE

For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 90 cents are available for programs.



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OVERVIEW

About ShareLife:

ShareLife is a 2-star charity. It has a below average results reporting grade. It is financially transparent and has overhead spending within Ci's reasonable range. With it current reserves, the charity can cover seven months of annual program costs. 

Founded in 1976, ShareLife aims to live the Gospel by providing for those in need. Established by the Roman Catholic Episcopal Corporation for the Diocese of Toronto in Canada, it operates as an intermediary that funds over 40 different agencies. ShareLife selects agencies that serve vulnerable groups, from struggling families to elderly people. In F2022, ShareLife reported that it reached 150,000 people in need.

ShareLife funds ten program areas; its three largest are family services, education of clergy, and agency support and advocacy.

Family services represented 33% of grants in F2022. ShareLife funds agencies that provide family or couples counselling, mental health support, and psychotherapy. Sharelife reports that over 24,000 clients are served annually by the Catholic Family Services agencies that it funds.

ShareLife allocated 15% of its grants to education of clergy in F2022. ShareLife provides religious scholars in need of funding with opportunities to study at St. Augustine’s Seminary or Redemptoris Mater Missionary Seminary. ShareLife supported 58 scholars in their studies during the 2021-2022 academic year.

In F2022, ShareLife distributed 10% of its grants to agency support and advocacy. This included funding for special projects such as the Shared Services initiatives and senior care and outreach research. 

The remaining grants went to various program areas, supporting people with special needs (8%), international development (7%), children and youth (6%), young parents (6%), grants-in-aid agencies (5%),immigrants and refugees (5%), and seniors (4%).

In F2021, ShareLife’s three largest grant recipients were St. Augustine’s Seminary ($2.0m), Catholic Family Services of Toronto ($1.7m), and Catholic Family Services of Peel-Dufferin ($1.1m).

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Results and Impact

ShareLife reports that every year it provides 3.0 million kg of food and clothing to communities in need through Canadian Food for Children. 

While Ci highlights these key results, they may not be a complete representation of ShareLife’s results and impact. This charity is not yet rated on impact (n/r).

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Finances

ShareLife had total donations of $16.8m in F2022. Administrative costs are 4% of revenues (less investment income), and fundraising costs are 6% of donations. This results in total overhead spending of 10%. For every dollar donated, 90 cents go to the cause, which is within Ci’s reasonable range for overhead spending.

ShareLife has $14.8m in reserve funds, of which $8.5m is donor endowed. Reserve funds are the charity’s cash and investments. Excluding donor-endowed funds, the charity could cover 61% or seven months of its annual program costs with reserves.

This charity report is an update that has been sent to ShareLife for review. Changes and edits may be forthcoming.

Updated on July 5, 2023 by Alessandra Castino.

Financial Review


Financial Ratios

Fiscal year ending December
202220212020
Administrative costs as % of revenues 4.1%4.1%4.8%
Fundraising costs as % of donations 5.5%4.9%8.2%
Total overhead spending 9.6%9.0%12.9%
Program cost coverage (%) 61.1%55.5%39.6%

Summary Financial Statements

All figures in $000s
202220212020
Donations 16,79721,97012,674
Government funding 1811766
Investment income (928)2,223493
Total revenues 15,88724,31013,233
Grants 14,89218,20911,715
Administrative costs 692910607
Fundraising costs 9161,0831,036
Total spending 16,50120,20213,358
Cash flow from operations (614)4,108(125)
Capital spending 000
Funding reserves 14,76116,35212,106

Note: In F2021, ShareLife changed its fiscal year end from July to December. The available data for F2021 represents a 17-month period from August 1, 2020 to December 31, 2021. As a result, F2021 figures are not comparable. Ci adjusted for change in grants payable, increasing expenses by ($230k) in F2022, $5.2m in F2021, and $207k in F2020. Ci included unrealized gains (losses) on investments, affecting revenues by ($1.2m) in F2022, $2.0m in F2021, and $323k in F2020.

Salary Information

Full-time staff: 10

Avg. compensation: $94,327

Top 10 staff salary range:

$350k +
0
$300k - $350k
0
$250k - $300k
0
$200k - $250k
0
$160k - $200k
0
$120k - $160k
2
$80k - $120k
0
$40k - $80k
8
< $40k
0

Information from most recent CRA Charities Directorate filings for F2021

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Comments & Contact

Comments added by the Charity:

No comments have been added by the charity.

Charity Contact

Website: www.sharelife.org
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 416-934-3411

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Charitable Registration Number: 80340 7956 RR0001