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George Brown College Foundation

St. James Campus, 200 King Street
Toronto, ON M5A 3W8
Board Chair: Doug Turnbull
President: Cindy Gouveia

Charitable Reg. #: 11923 4748 RR0001
Sector: Education - College Foundation
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

2014 2015
For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #15

Avg. Compensation $54,332

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 1
$120k - $160k 1
$80k - $120k 1
$40k - $80k 6
< $40k 1
Information from most recent CRA Charities Directorate filings for F2015

About George Brown College Foundation:

Founded in 1984, the George Brown College Foundation is a separate charity from George Brown College. George Brown College Foundation’s priorities are to raise money to give students scholarships and bursaries as well as larger initiatives. In 2015 the Foundation’s campaign priorities were the Cockwell Centre for Health Sciences, expanding the Casa Loma campus, and increasing student scholarships and bursaries. George Brown College is at capacity with 28,045 full-time students enrolled in 149 programs.

In 2011, more than half of the students needed financial aid to attend George Brown College. The Foundation seeks to triple bursaries from $1 million to $3 million. In F2015 the Foundation provided $1.1 million in student scholarships, a 28% increase from F2014. These scholarships represent 1% of tuition fees paid in F2015. In the most recent review of Ontario’s 24 colleges' Key Performance Indicators, George Brown College has a reported 67.6% graduation rate, slightly above the average college graduation rate of 66.7%. George Brown College graduates have an 85.0% employment rate compared with the provincial average of 83.6%.


Financial Review:

In F2015, George Brown College Foundation’s donations exceeded $5 million making it a large Canadian charity. In F2015, George Brown College Foundation raised $5.5m with $1.5m earned from its $29.1m investment portfolio (funding reserves). George Brown College Foundation’s combined fundraising and administrative costs are 11% of revenues, well within Ci's reasonable range for charity overhead. It spent $1.1m on student scholarships, $1.8m on capital projects, with the $3.6m surplus going to funding reserves. George Brown College Foundation has $29.1m in funding reserves, including $15.9m in donor endowments.  Excluding donor-endowed funds, the Foundation can cover annual program costs for 6.6 years.

Analysis and review completed on June 7, 2016 by Kate Bahen.

This report is being reviewed by George Brown College Foundation. Comments and edits may be forthcoming.

Financial Ratios

Fiscal year ending March
Fundraising & admin costs as % of revenues 11.3%22.8%
Program cost coverage (%) 1,037.7%675.4%

Summary Financial Statements

All figures in $000s
Donations 5,4973,589
Investment income 1,4981,310
Total revenues 6,9964,898
Program costs 2,8003,880
Fundraising & administrative costs 623818
Cash flow from operations 3,573200
Funding reserves 29,05926,205
Note: Charity Intelligence has backed out of donations and administrative costs $800k received from George Brown College in F2015 as reported in Financial Note 6. 

Comments added by the Charity:

No comments have been added by charity
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