Habitat for Humanity Niagara
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.
B
RESULTS REPORTING
Grade based on the charity's public reporting of the work it does and the results it achieves.
Low
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.
75%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 75 cents are available for programs.
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Programs
About Habitat for Humanity Niagara:
Founded in 1993, Habitat for Humanity Niagara (HFH Niagara) is an affiliate of Habitat for Humanity Canada that offers affordable housing to families in Niagara. It is part of Habitat for Humanity International and a member of the Niagara Poverty Reduction Network. As a Habitat for Humanity affiliate, the charity shares the common Habitat for Humanity mission of mobilizing volunteers and community partners in building affordable housing and promoting home ownership as a means of breaking the poverty cycle. The charity states that all donations go directly towards building Habitat homes, as its ReStore operations cover 100% of overhead costs.
Habitat for Humanity Niagara states that its keystone homeownership program is a hand up, not handout – families meeting certain financial requirements put in 500 hours of ‘sweat equity’ toward building their Habitat home and take on an interest-free mortgage from HFH Niagara with payments capped at 30% of total family income. These mortgage payments go back into a revolving fund to finance future Habitat builds. On top of mobilizing community volunteers to help build its Habitat homes, HFH Niagara also runs a Youth/Student Build Program in partnership with Niagara College and the District School Board of Niagara, which gives students a chance to develop their trade skills in the construction industry.
HFH Niagara has built 52 homes since founding and has four current builds as of 2016. In its most recent 2016 annual report, HFH Niagara states that it has helped 57 families through its homeownership program since 1993. Habitat for Humanity Niagara states that 78% of its Habitat families report better health and 89% report better family life after moving into their Habitat homes.
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Finances
Habitat for Humanity Niagara's administrative costs were 11% of total revenues and fundraising costs were 14% of monetary donations in F2016. For every dollar donated to the charity, 75 cents went towards its programs, which falls within Charity Intelligence's reasonable range for overhead costs. Funding reserves are negative due to $1.3m in bank loans and other debt.
This charity report is currently being reviewed by the charity. Comments and edits may be forthcoming.
Created on August 23, 2017 by Katie Khodawandi.
Financial Review
Fiscal year ending December
|
2016 | 2015 | 2014 |
|---|---|---|---|
| Administrative costs as % of revenues | 11.2% | 11.9% | 16.6% |
| Fundraising costs as % of donations | 14.2% | 21.0% | 16.9% |
| Program cost coverage (%) | (42.8%) | (82.4%) | (78.9%) |
Summary Financial StatementsAll figures in $s |
2016 | 2015 | 2014 |
|---|---|---|---|
| Donations | 474,681 | 373,968 | 232,693 |
| Goods in kind | 74,508 | 560,012 | 157,279 |
| Government funding | 81,025 | 66,600 | 0 |
| Fees for service | 425,892 | 176,078 | 151,602 |
| Business activities (net) | 1,735,974 | 1,486,478 | 520,413 |
| Special events | 0 | 0 | 46,115 |
| Other income | 206,610 | 72,853 | 65,287 |
| Total revenues | 2,998,690 | 2,735,989 | 1,173,389 |
| Program costs | 1,568,592 | 1,319,776 | 486,325 |
| Administrative costs | 336,339 | 325,615 | 194,468 |
| Fundraising costs | 67,376 | 78,675 | 47,152 |
| Other costs | 74,587 | 50,107 | 34,741 |
| Cash flow from operations | 951,796 | 961,816 | 410,703 |
| Funding reserves | (670,878) | (1,086,797) | (383,640) |
Note: The charity’s F2016 financial statements restated F2015 figures. Ci reported mortgage repayments received in fees for service and did not report gross margin on home sales in revenues, affecting total revenue by $231k in F2016, $109k in F2015 and $149k in F2014. ReStore revenues are reported gross of direct expenses in business activities in F2016 and F2015, as the charity’s F2016 financial statements do not disclose such costs. Ci reported HFH Canada affiliation fees of $210k in F2016, $178k in F2015 and $70k in F2014 in administrative costs. Fundraising costs consist of advertising and promotion expense. Other costs consist of recurring interest and bank charges, and a one-time start-up cost in F2016.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
0 |
$80k - $120k |
2 |
$40k - $80k |
5 |
< $40k |
3 |
Information from most recent CRA Charities Directorate filings for F2015
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Comments & Contact
Comments added by the Charity:
Charity Contact
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