CharityIntelligence Canada

Loran Scholars Foundation

460 Richmond St. W., Suite 502
Toronto, ON M5V 1Y1
CEO: Meghan Moore
Board Chair: Jamie Anderson

Charitable Reg. #: 85513 2643 RR0001
Sector: Education
Operating Charity

Results Reporting

Grade: B+

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 for current and previous years available on the charity's website [Audited financial statement for most recent year]

Need for Funding

Funding Reserves Program Costs

Spending Breakdown

Cents to the Cause

2016 2017 2018
For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #8

Avg. Compensation $85,844

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 1
$120k - $160k 0
$80k - $120k 2
$40k - $80k 5
< $40k 0
Information from most recent CRA Charities Directorate filings for F2018

About Loran Scholars Foundation :

Founded in 1988 as the Canadian Merit Scholarship Foundation, Loran Scholars Foundation (LSF) offers Canada’s largest four-year scholarship award. LSF partners with universities, donors, and volunteers across Canada to give out awards up to $100,000 in value. LSF supports undergraduate students in the hope of helping them become Canada’s future leaders.

The Loran Scholarship is a merit-based scholarship given to students who show promise of leadership and other talents that will make their communities a better place, both during and after their time at university. In F2018, LSF selected 34 people to become Loran Scholars. The Loran Scholarship includes up to $10,000 annually to pay for tuition, a matching tuition waiver from one of 25 partnered universities, mentorship, summer internship opportunities, access to a network of current and former Loran Scholars, and a summer orientation experience. It also gave out 54 grants, valued at $5,000 to people who applied and were not selected for scholarship, as well as 50 provincial awards valued at $2,000.

Every Loran Scholar is paired with a Canadian leader for a four-year mentorship relationship. During the summer, Loran Scholars are encouraged to gain meaningful work experience. To help this process, Loran Scholars are given access to their network of alumni as well as up to $10,000 in funding for internship opportunities. These internships can be done anywhere in the world, providing they are focused on enterprise, public policy, or community development. 

Financial Review:

Loran Scholars Foundation is a medium-sized charity with $3.2m in donations in F2018. LSF’s fundraising and administrative costs are 11% of revenues (excluding investment income).  For every dollar donated, 89 cents  go to the cause. This is within Ci’s reasonable range. LSF has $16.1m in funding reserves, of which $3.6m is donor-endowed. Excluding endowed funds, funding reserves can cover program costs for five and a half years.

This charity report is an update that has been sent to Loran Scholars Foundation for review. Comments and edits may be forthcoming.

Updated May 17, 2018 by Stefan Tetzlaff.

Financial Ratios

Fiscal year ending April
Fundraising & admin costs as % of revenues 10.6%6.5%8.7%
Program cost coverage (%) 663.9%649.0%532.1%

Summary Financial Statements

All figures in $s
Donations 3,172,9075,043,4203,284,686
Investment income 133,4071,137,617185,875
Other income 113,33587,17173,750
Total revenues 3,419,6496,268,2083,544,311
Program costs 1,065,5231,067,5491,047,650
Grants 1,353,0001,300,8331,168,875
Fundraising & administrative costs 348,293335,471293,131
Cash flow from operations 652,8333,564,3551,034,655
Funding reserves 16,057,01515,369,51811,793,330
Note: Ci reports restated figures for F2017. Ci adjusted for deferred donations, affecting total revenues by (72k) in F2018, $1.9m in F2017 and and $516k in F2016. Ci reported endowment contributions in donations and preservation of endowment capital in investment income, affecting total revenues by $58k in F2018, $444k in F2017 and $55k in F2016.