Farley Foundation

420 Bronte Street South, Suite 205
Milton, ON L9T 0H9
Executive Director: Doug Raven
Board President: Dr. Matthew Richardson

Charitable Reg. #:88752 2316 RR0001

STAR RATING

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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.

80%

CENTS TO THE CAUSE

For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 80 cents are available for programs.



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Programs

About Farley Foundation:

Established in 2001 by the Ontario Veterinary Medical Association (OVMA), the Farley Foundation subsidizes payments for Ontario pet owners who cannot cover essential veterinary costs for their sick and injured pets. Farley Foundation’s goal is to provide another option for people who must choose between euthanizing their pet or foregoing treatment because they cannot afford the costs. Pet owners do not directly contact the Farley Foundation to receive funding – rather, the pet’s veterinarian acts on the owner’s behalf. Since 2002, more than 10,500 pets have been helped, and 991 pets received treatment in F2019. This included 607 dogs, 373 cats, 4 guinea pigs, 2 birds, 2 ferrets, 2 reptiles, and 1 rabbit.

Farley Foundation only covers surgery, hospitalization, diagnostics, and other essential treatments. Pet owners seeking aid must be unable to afford medical care for the sick or injured pet, and must fall into at least one of the following categories: seniors receiving the federal GIS, disabled individuals receiving the ODSP or CPP Disability Payment, individuals receiving assistance through Ontario Works, people earning less than $25,000/year, people receiving the CERB (if they are the household’s sole income earner), long-term care facilities with live-in pets, or women at risk of abuse who are entering a registered Ontario women’s shelter and who are participating in the OVMA SafePet Program.

In F2019, Farley Foundation paid $462k in subsidies towards the veterinary bills of pet owners, which is a 7% increase from F2018. Farley Foundation discloses the total number of pets and pet owners it helps, but it does not disclose the procedures the pets undergo.

In F2019, Farley Foundation expanded its eligibility criteria to include pet owners earning less than $25k annually. 20 pets were helped under the expanded criteria in F2019.

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Results and Impact

In addition to saving the lives of the animals, Farley Foundation states that sharing life with an animal has a positive impact on personal health and well-being. Farley Foundation highlights multiple testimonials on its website from people who are grateful for the services Farley Foundation provided and the impact it had on their lives and those of their pets.

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Finances

Farley Foundation is a small charity which received donations and special events revenue of $666k in F2019. Administrative costs are 9% of total revenues (excluding investment income) and fundraising costs are 11% of total donations. This means Farley Foundation spends 20% on overhead. For every dollar donated, 80 cents go to the cause. This is within Ci’s reasonable range for overhead spending. Farley Foundation attributes its low overhead costs to its shared board of directors with OVMA, decreasing staffing costs.

Farley Foundation has total funding reserves of $1.1m. The foundation could cover 2.5 years of program spending at the F2019 level.

The charity reports no paid staff in its most recent Charities Directorate T3010 filing.

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

Updated May 26, 2020 by Eric Jose.

 

Financial Review


Financial Ratios

Fiscal year ending August
201920182017
Administrative costs as % of revenues 9.2%8.0%8.6%
Fundraising costs as % of donations 10.5%11.0%11.1%
Total overhead spending 19.6%19.0%19.7%
Program cost coverage (%) 247.1%248.6%232.7%

Summary Financial Statements

All figures in $s
201920182017
Donations 644,362655,638582,273
Special events 21,74639,34533,500
Investment income 24,72617,59010,037
Other income 4489992,796
Total revenues 691,282713,572628,606
Program costs 464,491432,998395,313
Administrative costs 61,05655,86353,133
Fundraising costs 69,72576,34368,519
Total spending 595,272565,204516,965
Cash flow from operations 96,010148,368111,641
Funding reserves 1,147,5271,076,281919,911

Note: Expense breakdown for all three years of analysis is from the charity’s T3010 CRA filings. Total expenses differed from the financial statements by ($263) in F2019, $100 in F2018, and ($2,122) in F2017. Ci backed these amounts out of administrative costs. Ci removed bad debts from expenses, decreasing total expenses by $1,340 in F2018 and $5,854 in F2017.

Salary Information

Full-time staff: 0

Avg. Compensation: $0

Top 10 staff salary range:

$350k +
0
$300k - $350k
0
$250k - $300k
0
$200k - $250k
0
$160k - $200k
0
$120k - $160k
0
$80k - $120k
0
$40k - $80k
0
< $40k
0

Information from most recent CRA Charities Directorate filings for F2019

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Comments & Contact

Comments added by the Charity:

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Charity Contact

Website: www.farleyfoundation.org
This email address is being protected from spambots. You need JavaScript enabled to view it.

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