ShareLife
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✔
FINANCIAL TRANSPARENCY
Most recent Audited financial statements 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.
88%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 88 cents are available for programs.
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Programs
About ShareLife:
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 F2019, ShareLife reported that it reached 147,000 local people in need. ShareLife works in over 200 parishes across the Greater Toronto Area.
ShareLife funds 11 program areas, but its three largest are Family Services, Education of Clergy, and International Development.
Family Services were 30% of program spending in F2019. ShareLife funds agencies that provide family or couples counseling, mental health support, and psychotherapy. ShareLife states that its Family Services help over 20,000 clients each year.
Education of Clergy represented 14% of program spending in F2019. ShareLife provides religious scholars in need of funding with opportunities to study at St. Augustine’s Seminary or Redemptoris Mater Missionary Seminary. ShareLife supported 84 scholars in their studies during the 2018-2019 academic year.
International Development and Missions made up 10% of program spending in F2019. ShareLife funds global projects that aid those living in poverty. These projects range from clean water wells to vocational training. In F2019, ShareLife funded 226 projects in 25 countries.
In F2019, ShareLife’s three largest grant recipients were St. Augustine’s Seminary ($1.7m), Catholic Family Services of Toronto ($1.6m), and Catholic Charities of the Archdiocese of Toronto ($0.9m).
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Results and Impact
In F2019, ShareLife helped to settle 773 refugees in Canada through the Office of Refugees of the Archdiocese of Toronto. The charity reports that most refugees were fleeing from Syria, Iraq, or Eritrea. Through its funding to Covenant House, ShareLife reports that it provided transitional housing and mentorship to 208 youths in F2019.
While Ci highlights these key results, they may not be a complete representation of ShareLife’s results and impact.
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Finances
ShareLife did not provide its F2017 audited financial statements upon request.
ShareLife is a Large charity, with donations of $14.6m in F2019. Administrative costs are 4% of revenues (less investment income) and fundraising costs are 8% of donations. This means that total overhead spending is 12%. For every dollar donated to the charity, 88 cents go to the cause. This falls within Ci’s reasonable range for overhead spending.
ShareLife has total funding reserves of $11.8m, of which $5.7m is donor-endowed. Excluding donor-endowed funds, the program cost coverage ratio is 43%. This means that the charity can cover five months of its annual programs using existing funding reserves.
This charity report is an update that is being reviewed by ShareLife. Changes and edits may be forthcoming.
Updated on June 11, 2020 by Eric Zhao.
Financial Review
Fiscal year ending July
|
2019 | 2018 | 2016 |
|---|---|---|---|
| Administrative costs as % of revenues | 4.3% | 3.7% | 3.7% |
| Fundraising costs as % of donations | 7.7% | 6.6% | 7.1% |
| Total overhead spending | 12.0% | 10.2% | 10.8% |
| Program cost coverage (%) | 43.4% | 52.4% | 56.5% |
Summary Financial StatementsAll figures in $000s |
2019 | 2018 | 2016 |
|---|---|---|---|
| Donations | 14,552 | 15,427 | 13,890 |
| Investment income | 263 | 413 | 344 |
| Total revenues | 14,815 | 15,839 | 14,234 |
| Grants | 14,317 | 13,988 | 13,087 |
| Administrative costs | 626 | 565 | 514 |
| Fundraising costs | 1,119 | 1,014 | 985 |
| Total spending | 16,062 | 15,567 | 14,586 |
| Cash flow from operations | (1,247) | 272 | (351) |
| Funding reserves | 11,817 | 12,832 | 12,061 |
Note: Ci adjusted grants to show the actual amounts paid during the year. This affected grants and total expenses by $659k in F2019, $572k in F2018, and ($113k) in F2016.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
1 |
$80k - $120k |
0 |
$40k - $80k |
9 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2019
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Comments & Contact
Comments added by the Charity:
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 416-934-3411