Etobicoke, ON M8Z 1E8
Executive Director: Dan Kershaw
Board Chair: Andrew Chung
Charitable Reg. #: 87253 1843 RR0001
Grade: BThe grade is based on the charity's public reporting of the work it does and the results it achieves.
Need for Funding
Full-time staff #36
Avg. Compensation $40,718
Top 10 Staff Salary Range
|$300k - $350k||0|
|$250k - $300k||0|
|$200k - $250k||0|
|$160k - $200k||0|
|$120k - $160k||0|
|$80k - $120k||1|
|$40k - $80k||7|
About Furniture Bank:
Founded in 1998, Furniture Bank aims to provide the comfort, dignity and stability of a furnished home through the transfer of furniture from donors to its clients. Furniture Bank’s theory of change depicts how people emerging from displacement are trained through employment programs, receiving job training and experience. It also depicts how used furniture and housewares are used to furnish its clients’ houses, reducing the waste that goes into landfills.
In F2015, Furniture Bank worked with 86 social service partner agencies. Its agencies serve women and children (35% of clients), refugees and newcomers to Canada (20% of clients), formally homeless people (40% of clients) and others (5% of clients). In F2015, 61,096 furniture items were donated, and Furniture Bank served 7,615 clients, up 30% from F2014. Furniture Bank reports that it has diverted approximately 1,500 tonnes of unwanted furniture that would otherwise end up in landfills.
Furniture Bank’s Leg Up skills training and employment program provides on-the-job skills training and experience to at-risk-youths (60% of participants) and Canadian newcomers. Each year, it trains 25-30 individuals referred through 11 social service agency partners. In F2014, 12 participants took part in customer service and logistical training in Furniture Bank’s warehouse, call centre and client services department. 8 of the participants were hired as full-time employees at Furniture Bank. Also in F2014, its Leg Up program provided 3 financial literacy workshops facilitated by Credit Canada. Furniture Bank reports that its employment program participants earn an average of $450 in additional income each month.
Furniture Bank also has a furniture repair workshop, which allows its Leg Up participants to learn woodworking, textile, furniture repair and reupholstery skills. It salvages raw materials from furniture that is not in a good enough condition for re-donation. It reports that, in F2014, it recycled over 4,500 kgs of cloth and fabrics, 2,000 kgs of electronics and 50,000 kgs of metal.
In F2014, Furniture Bank reported that it calculated a social return on investment value of $1.96 for every $1 put towards its programs. It reports that its top social impacts relate to restoring clients’ hope in the future (83%), improving clients’ self-esteem (78%), improving clients’ self-confidence (72%) and creating family stability (72%).
Furniture Bank is a small-cap charity, with donations of $601k in F2015. The charity does not report the value of donated materials, services and household items in its financial statements. Its administrative costs are 40% of revenues and its fundraising costs are 19% of donations. For every $1 donated to the charity, 42 cents is put towards its programs, falling outside of Ci’s reasonable range; however, this excludes the value of donated goods which would significantly reduce the administrative cost ratio. Furniture Bank has funding reserves of $143k, meaning that the charity can fund 1.5 months of its annual programs using its existing reserves.
This charity report is an update that is being reviewed by Furniture Bank. Changes and edits may be forthcoming.
Updated on June 17, 2016 by Lynn Tay.
Financial RatiosFiscal year ending December
|Administrative costs as % of revenues||39.6%||51.9%||49.8%|
|Fundraising costs as % of donations||18.8%||6.6%||11.3%|
|Program cost coverage (%)||12.3%||12.5%||27.0%|
Summary Financial StatementsAll figures in $s
|Business activities (net)||1,145,493||849,672||821,459|
|Cash flow from operations||23,630||(277,517)||(60,849)|