Canada Company

TD Bank Tower, 66 Wellington St. W
Toronto, ON M5K 1K2
Board Chair: Blake Goldring
Vice Board Chair: Paul Hindo

Charitable Reg. #:83851 6094 RR0001

STAR RATING

Ci's Star Rating is calculated based on the following independent metrics:

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✔+

FINANCIAL TRANSPARENCY

Audited financial statements for current and previous years 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.

Fair

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.

58%

CENTS TO THE CAUSE

For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 58 cents are available for programs.



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Programs

About Canada Company:

Honorary Colonel Blake Goldring founded Canada Company in 2006. Canada Company was created to connect business and community leaders with Canada's military. Based in Toronto, Canada Company operates nationally to educate Canadians on military matters, celebrate the Canadian Armed Forces for their service, and facilitate knowledge exchanges between Canada's corporate world and military leaders.

Canada Company's runs nine programs: Scholarship Program, ExecConnect Program, Je me Souviens Program, A Day in The Life Of, Recognition & Celebration Program, LAV III Monument Program, Reserve Civilian Career Assistance Program (ReCCAP), Strategic and Knowledge Exchange Program, and Aye Ready Program.

Canada Company Scholarships are awarded annually to the children of fallen Canadian Forces personnel to support post-secondary education. The charity established its Scholarship Fund in 2007 and it currently holds $3.2 million. Each recipient is eligible to receive $4k per year, for up to four years. Canada Company has awarded 48 scholarships worth $504k since the program was established in 2007. In F2018, $52k was paid out in 13 scholarships (14 scholarships in F2017, and 16 scholarships in F2016). Canada Company spent $78k on its annual Scholarship Ceremony that takes place in Toronto. At this current rate of granting scholarships, Canada Company can fund scholarships for 61 years assuming no capital growth in the endowed funds.

The LAV III Monument program started in 2014 to pay tribute to the 40,000 Canadian Armed Forces who served and the 162 Canadians who died in Afghanistan. Through this program, Canada Company provides communities with full-size replica tanks created from decommissioned vehicles donated by the Government of Canada. The charity states each monument costs $17,500 and installation costs $10,000 per unit. Communities receiving monuments are responsible for transport. To date, 24 LAV III monuments have been unveiled across Canada, and an additional 33 monuments are planed. In F2018, Canada Company unveiled six LAV III monuments.  Monument spending totaled $1k in F2017.

The Strategic Knowledge Exchange (SKE) program consists of an annual round-table forum that brings together business leaders with senior military leaders and defense specialists. Canada Company runs these events to promote issues-focused and cross-sector conversation on current and future strategic approaches for important military matters. In 2018, Canada Company's Quebec chapter held a Guests Mess dinner. 

The Military Employment Transition program started in 2013 to help veterans find meaningful jobs in Canada after serving. Canada Company partnered with Employment and Social Development Canada in 2016 to invest $1.1 million into a project called MET Pathfinder, a digital platform to help military members and veterans find civilian jobs. In December 2017, the Government of Canada assumed the responsibility of providing this digitalized service to veterans directly[1]. Shortly after – as of April 1, 2018 – Veterans Affair Canada took responsibility of all military employment services, ending Canada Company’s MET program initiative. While the MET program was active, Canada Company reports having over 9,541 members, and 528 employer partners and affiliates. The charity helped 2,575 veterans and 273 spouses find jobs cumulatively, including 437 veterans and 212 spouses in 2017. F2017 spending included $609k in technology costs, estimated to represent costs associated with developing the MET Pathfinder app.

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Results and Impact

Charity Intelligence has assessed Fair impact on Canada's Company's demonstrated impact per dollar spent.

Impact Rating: Fair

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Finances

Canada Company is a medium-sized charity with donations of $1.1m in F2018. The charity also received $1.1m in government funding in F2017, $958k more than it received in the previous year. Charity Intelligence reports Canada Company’s marketing costs from its audited financial statements as fundraising costs in the following financial analysis, but the charity reports spending $0 on fundraising activities in F2018 and F2017 on its T3010 CRA filing. Management and administrative costs are 34% of total revenues and fundraising costs are 9% of donations. Canada Company's overhead spending is 42%. Per dollar donated to the charity, $0.58 goes towards its programs and grants, which falls outside Ci’s reasonable range for overhead spending.

Canada Company has funding reserves of $4.1m, including $3.2m in scholarship funds that are held by a separate private foundation and kept off the charity’s balance sheet. Excluding the scholarship fund, Canada Company’s funding reserves can cover annual program and grant costs for 1.1 years.  

This charity report is an update that has been sent to Canada Company for review. Changes and edits may be forthcoming.

Updated on August 28th, 2018 by Lauren Chin Updated with 2018 financials uploaded on September 23, 2018 by Kate Bahen. 

Financial Review


Financial Ratios

Fiscal year ending December
201820172016
Administrative costs as % of revenues 32.8%28.1%19.9%
Fundraising costs as % of donations 8.9%4.8%7.0%
Total overhead spending 41.7%32.9%26.9%
Program cost coverage (%) 117.0%227.0%197.1%

Summary Financial Statements

All figures in $s
201820172016
Donations 1,077,3681,813,6862,473,920
Government funding 01,115,755157,508
Fees for service 70,75056,00091,800
Total revenues 1,148,1182,985,4412,723,228
Program costs 629,3561,690,3351,556,654
Grants 179,520218,465486,178
Administrative costs 376,064838,342541,583
Fundraising costs 96,02687,042172,807
Total spending 1,280,9702,834,1802,757,220
Cash flow from operations (132,848)151,257(33,994)
Capital spending 000
Funding reserves 4,138,3044,333,6004,027,080

Note: Note 1: Ci included management fees, office and general expenses, and professional fees in the charity's administrative costs. Ci included marketing expenses in the charity's fundraising costs. . Note 2: Ci included the Canada Company Scholarship Fund, which is held by the Toronto Community Foundation and not reported on the charity's balance sheet, as endowed funds within Canada Company's funding reserves. 

Salary Information

Full-time staff: 8

Avg. Compensation $41,125

Top 10 staff salary range

$350k +
0
$300k - $350k
0
$250k - $300k
0
$200k - $250k
0
$160k - $200k
0
$120k - $160k
0
$80k - $120k
1
$40k - $80k
2
< $40k
5

Information from most recent CRA Charities Directorate filings for F2018

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Comments & Contact

Comments added by the Charity:

 

 

Sources and References:

[1] Murray Brewster, "Federal government turns to private firm to find jobs for veterans." CBC, February 12, 2018. https://www.cbc.ca/news/politics/veterans-transition-services-1.4532117

Charity Contact

Website: www.canadacompany.ca
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 416-869-8458

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