Central Okanagan Food Bank
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✖
FINANCIAL TRANSPARENCY
Audited financial statements available only through official request for information from Charities Directorate.
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.
92%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 92 cents are available for programs.
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OVERVIEW
About Central Okanagan Food Bank:
Central Okanagan Community Food Bank's 2017 audited financial statement is the most recent information Ci has received. As a result, Ci is unable to update this profile. Ci has requested the charity's financial statements from the CRA. In F2020, Central Okanagan Community Food Bank's T3010 filing with the CRA states it received $1.9m in tax receipted donations. CRA best practices recommend that charities with over $250k in donations have audited financial statements available.
On July 1, 2015 the Westside Community Food Bank and Kelowna Community Food Bank joined forces to become the Central Okanagan Community Food Bank (COFB). COFB works to create a healthy hunger-free community through food distribution. COFB reports that 2,000 kids struggle with hunger in Central Okanagan. The charity operates in two locations – one in Kelowna and another in West Kelowna. COFB reports that the Kelowna location serves between 2,500 and 3,500 individuals per month and its West location serves 800 individuals per month. 33% of clients are children under the age of 15.
Central Okanagan Food Bank reports that in F2017 it distributed over $3.5m in food and that in the month of March 2019, 1,550 separate households accessed the Central Okanagan Food Bank. In March 2019, the charity also reports it distributed 815 kids snack packs to children aged 1-12, and 2,061 adults were able to access emergency food.
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Results and Impact
Charity Intelligence has given Central Okanagan Food Bank an impact rating of Fair based on demonstrated impact per dollar spent.
Impact Rating: Fair
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Finances
Central Okanagan Food Bank is a medium-sized charity with $1.4m in donations and special events fundraising in F2017 along with donated food worth $3.5m. Administrative costs are 1% of total revenues (excluding investment income) and fundraising costs are 7% of monetary donations. For every dollar donated to the charity, 92 cents go towards its programs, which is within Ci’s reasonable range of overhead spending.
In F2017, COFB had $207k in funding reserves; however, it has interest bearing debts and loans totaling $3.0m, resulting in a negative program cost coverage of (308%).
This charity report is an update that has been sent to Central Okanagan Food Bank for review. Changes and edits may be forthcoming.
Updated on August 13, 2019 by Parker Thomlinson.
Financial Review
Fiscal year ending June
|
2017 | 2016 | 2015 |
|---|---|---|---|
| Administrative costs as % of revenues | 1.3% | 2.5% | 2.0% |
| Fundraising costs as % of donations | 6.8% | 7.3% | 3.9% |
| Total overhead spending | 8.1% | 9.7% | 5.8% |
| Program cost coverage (%) | (308.2%) | 93.6% | 119.4% |
Summary Financial StatementsAll figures in $000s |
2017 | 2016 | 2015 |
|---|---|---|---|
| Donations | 376 | 365 | 1,452 |
| Goods in kind | 3,521 | 2,926 | 2,980 |
| Special events | 1,001 | 882 | 761 |
| Investment income | 13 | 13 | 13 |
| Other income | 140 | 64 | 94 |
| Total revenues | 5,050 | 4,250 | 5,300 |
| Program costs | 898 | 830 | 776 |
| Donated goods exp | 3,966 | 3,528 | 3,381 |
| Administrative costs | 67 | 104 | 103 |
| Fundraising costs | 93 | 91 | 86 |
| Other costs | 30 | 21 | 17 |
| Total spending | 5,054 | 4,574 | 4,363 |
| Cash flow from operations | (4) | (324) | 937 |
| Capital spending | 3,647 | 7 | 75 |
| Funding reserves | (2,769) | 777 | 926 |
Note: The charity does not allocate costs to fundraising and administration, thus its fundraising and administration cost ratios may be understated. Ci included other income interest in revenues affecting revenue by $13k in F2017, $13k in F2016, $13k in F2015.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
0 |
$80k - $120k |
2 |
$40k - $80k |
4 |
< $40k |
4 |
Information from most recent CRA Charities Directorate filings for F2017
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Comments & Contact
Comments added by the Charity:
Charity Contact
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