Visions of Science
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.
A-
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.
94%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 94 cents are available for programs.
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OVERVIEW
About Visions of Science:
Visions of Science Network for Learning is a 5-star charity. It has an A- results reporting grade, which is above average. Its overhead spending is within Ci’s reasonable range and its reserve funds can cover its annual program costs for 10 months
Founded in 2004, Visions of Science aims to advance STEM equity. It helps Black and racialized youth from low-income communities across the GTA succeed in STEM. Visions states that low-income and racialized youth face systemic barriers in their education. These barriers lead to lower academic achievement, graduation rates, and post-secondary participation. This leads to underrepresentation in STEM fields. Visions has two main programs: STEM Catalyst, and STEM Journey. It did not provide a program spending breakdown on its website.
A Charity Intelligence 2023 Top 100 Rated Charity
STEM Catalyst partners with community organizations to engage youth from diverse communities. Sport and STEM combines STEM and physical activity for students in grades 7-8. In 2023, Sport and STEM programs engaged 375 youth in 7 schools. STEM Sparks offers 1-6 week workshops for youth in partner organizations’ programs. In 2023, Visions reported that STEM Sparks impacted 698 youth. STEM Connect Network provides workshops and networking events for post-secondary students.
STEM Journey is a long-term initiative to promote youth engagement in STEM. STEM Camps engage youth in grades 6-8 in projects that address community issues using STEM. In 2023, 184 youth from 7 communities participated in STEM Camps. STEM Academy offers afterschool tutoring in math and science. It also offers skill-building and career exploration workshops. STEM Leaders: Empower provides youth in grades 8-10 with STEM-based experiential learning opportunities. STEM Leaders: Launch offers youth in grades 11-12 experiential learning, work-integrated training, coaching, and paid job opportunities.
In 2023, Visions of Science reported that it impacted over 3,000 youth. Since its founding, Visions reports that it has engaged over 19,000 youth.
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Results and Impact
Visions of Science reported the following quantified outcomes for its programs in 2023:
STEM Spark: Over 80% of participants reported a positive shift in attitudes towards STEM after engaging with STEM Sparks.
Sport and STEM: 65% of youth agreed that the sports activities in this program helped them to learn new concepts in science, technology, and math.
STEM Academy: 73% of participants felt more confident in spotting mathematical patterns and relationships.
STEM Camps: 76% of participants reported increased interest in science, and 69% of participants reported increased confidence in their ability to excel in STEM.
STEM Leaders: Empower: 76% of participants gained a better understand of STEM career pathways, and 69% reported greater confidence in pursuing a STEM career.
STEM Leaders: Launch: 80% of internship participants reported gaining potential opportunities for meaningful STEM employment.
While Charity Intelligence highlights these key results, they may not be a complete representation of Visions of Science’s results and impact.
This charity is not yet rated on impact (n/r).
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Finances
In 2023, Visions of Science received $2.6m in donations and special event revenue. It also received $405k in government funding (13%) of total revenue. Administrative costs are 3% of total revenue (excluding investment income) and fundraising costs are 3% of donations. Overhead spending is 6%, which is within Ci’s reasonable range. For every dollar donated, 94 cents are available for the cause. Visions spent $2.4m on its programs (82% of total revenue) in 2023.
In 2023, Visions had a surplus of $529k and reported no spending on capital expenditures.
At the end of 2023, Visions has $2.1m in reserve funds. This can cover 88% or 10 months of its annual program costs.
This charity report is an update that was sent for review to Visions of Science. Changes and edits may be forthcoming.
Profile created on June 17, 2024 by Thea Clark
Financial Review
Fiscal year ending December
|
2023 | 2022 | 2021 |
|---|---|---|---|
| Administrative costs as % of revenues | 3.0% | 8.2% | 3.8% |
| Fundraising costs as % of donations | 3.2% | 0.1% | 3.5% |
| Total overhead spending | 6.1% | 8.3% | 7.3% |
| Program cost coverage (%) | 88.1% | 112.1% | 164.8% |
Summary Financial StatementsAll figures in $s |
2023 | 2022 | 2021 |
|---|---|---|---|
| Donations | 2,476,958 | 1,256,082 | 2,239,236 |
| Government funding | 404,883 | 176,383 | 263,965 |
| Special events | 128,063 | 0 | 4,328 |
| Investment income | 49,285 | 7,321 | 4,064 |
| Other income | 0 | 0 | 0 |
| Total revenues | 3,059,189 | 1,439,786 | 2,511,593 |
| Program costs | 2,358,005 | 1,501,604 | 1,098,058 |
| Administrative costs | 90,117 | 117,139 | 95,879 |
| Fundraising costs | 82,160 | 1,808 | 78,508 |
| Total spending | 2,530,282 | 1,620,551 | 1,272,445 |
| Cash flow from operations | 528,907 | (180,765) | 1,239,148 |
| Capital spending | 0 | 0 | 0 |
| Funding reserves | 2,078,423 | 1,683,679 | 1,809,963 |
Note: DEFERRED REVENUE: Visions uses deferred accounting. To show donors this information on a consistent basis, Ci adjusts for these deferred revenues. This affected revenue by $277k in 2023, ($102k) in 2022, and $28k in 2021.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
0 |
$80k - $120k |
4 |
$40k - $80k |
6 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2022
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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: 416-366-4774