Canadian Hearing Services
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.
B
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.
71%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 71 cents are available for programs.
My anchor
OVERVIEW
About Canadian Hearing Services:
My anchor
Results and Impact
In F2021, CHS helped secure 186 jobs for deaf and hard of hearing Canadians through its employment services program.
While Ci highlights these key results, they may not be a complete representation of ’Canadian Hearing Services' results and impact. This charity is not yet rated on impact (n/r).
My anchor
Finances
Canadian Hearing Services has donations of $3.8m in F2020. The charity received $22.9m in government funding, representing 85% of total revenues. Administrative costs are 10% of revenues (less investment income) and fundraising costs are 20% of donations. This results in total overhead spending of 29%. For every dollar donated, 71 cents go to the cause. This is within Ci’s reasonable range for overhead spending.
Canadian Hearing Services has $8.2m in funding reserves. The charity could cover 36% or around 4 months of annual program costs with current reserves.
CHS has a subsidiary, Canadian Hearing Services Inc. (CHS Inc.). The charity provided CHS Inc. $1.4m for shared services and CHS Inc. provided $368k in the sale of goods and services to the charity in F2020. The charity holds investments of all issued shares of CHS Inc. ($2.8m). CHS did not report the sale of goods as the business activity was taken over by CHS Inc. in F2020. Net revenues for the sale of goods was $7.2m in F2019.
This charity report is an update that has been sent to Canadian Hearing Services for review. Changes and edits may be forthcoming.
Updated on July 23, 2021 by Brenleigh Jebb.
Financial Review
Fiscal year ending March
|
2020 | 2019 | 2018 |
---|---|---|---|
Administrative costs as % of revenues | 9.6% | 8.2% | 10.4% |
Fundraising costs as % of donations | 19.9% | 25.7% | 31.1% |
Total overhead spending | 29.5% | 33.9% | 41.5% |
Program cost coverage (%) | 36.1% | 21.8% | 29.8% |
Summary Financial StatementsAll figures in $000s |
2020 | 2019 | 2018 |
---|---|---|---|
Donations | 3,764 | 2,601 | 2,441 |
Government funding | 22,907 | 22,646 | 24,578 |
Lotteries (net) | 126 | 51 | 99 |
Business activities (net) | 0 | 7,192 | 6,431 |
Investment income | (177) | 110 | 224 |
Other income | 363 | 0 | 0 |
Total revenues | 26,983 | 32,599 | 33,773 |
Program costs | 22,719 | 28,220 | 27,073 |
Administrative costs | 2,609 | 2,649 | 3,487 |
Fundraising costs | 747 | 669 | 758 |
Total spending | 26,076 | 31,539 | 31,319 |
Cash flow from operations | 908 | 1,060 | 2,454 |
Capital spending | 1,149 | 2,625 | 594 |
Funding reserves | 8,195 | 6,164 | 8,065 |
Note: Ci reports lotteries net of costs, decreasing total revenue and expenses by $148k in F2020, $119k in F2019, and $192k in F2018. Ci also reported business activities net of costs, decreasing total revenue and expenses by $5.5m in F2019 and $3.5m in F2018. Ci reported administrative and fundraising costs from the charity’s T3010 filings with the CRA. Ci adjusted for unrealized gain on investments and gain on sale of equipment affecting revenue by ($294k) in F2020, ($64k) in F2019, and $52k in F2018. Ci adjusted for bad debts, affecting expenses by ($3k) in F2020, ($8k) in F0219, and ($20k) in F0218.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
1 |
$200k - $250k |
0 |
$160k - $200k |
1 |
$120k - $160k |
1 |
$80k - $120k |
7 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2020
My anchor
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: 1-866-518-0000