Springs Church
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✔
FINANCIAL TRANSPARENCY
Most recent Audited financial statements available on the charity’s website.
D+
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.
86%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 86 cents are available for programs.
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OVERVIEW
About Springs Church:
Springs Church (also known as Springs of Living Water Centre) is a 2-star rated charity. It has a poor results reporting grade and does not have its most recent financial statements available on its website in a timely manner. It has overhead spending within Ci's reasonable range. The charity has $2.1m in reserve funds, which can cover three months of annual program costs; however, it does not report any fundraising costs.
Founded in 1980, Springs Church (also known as Springs of Living Water Centre) aims to communicate the message of Jesus through love, acceptance, and forgiveness. Springs Church’s main location is in Winnipeg, with two other sites in Calgary and Winnipeg’s Inner City. Springs Church provides ministry services and funds global missions.
The most recent annual report Springs Church has released at the time of this profile update refers to F2021. The charity reports that it allocated 86% of program spending to in-house ministries and buildings and 14% to missions in F2021.
Springs Church offers weekly Sunday services at all its locations. During Sunday services, it runs groups for young children and youth to experience Jesus through Bible sessions, singing, and group activities. In F2021, the Church reports that is distributed over 6,000 activity bags on Sundays to kids aged up to 12. It adds that its YouTube channel, which provides online lessons for kids, had almost 500 subscribers by the end of 2021. The charity reports delivering donated furniture to over 500 families.
Springs Church runs various education programs for its members. It funds the Springs Christian Academy, a private Christian school in Winnipeg that offers classes from preschool to grade 12. The charity also runs Springs College, a nine-month full-time program with life skills and religious studies courses.
Springs Church currently funds various missions in Canada and around the world. In Canada, its Inner City mission brings religion to vulnerable families in low-income Winnipeg neighbourhoods. The Church reports helping over 500 families every week through its food bank and supporting 15 to 20 families weekly with emergency food hampers. Internationally, Springs Church funds Watoto, a Christian charity working in Uganda and Love India, the charity arm of Victory Churches of India. The Church also funds Miracle Channel, a televised “mission” that broadcasts services 24/7 in Canada.
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Results and Impact
Charity Intelligence did not find any quantified outcomes on Springs Church’s website. This may not be a complete representation of Springs Church’s results and impact.
This charity is not yet rated on impact (n/r).
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Finances
Although Springs Church posts its audited financial statements on its website, it does not do so in a timely manner. Therefore, the most recent financial statements Springs Church has released at the time of this profile update refer to F2021. The charity’s F2021 financial statements are redacted.
Springs Church had total donations of $11.4m in F2021. Administrative costs are 14% of revenues (less investment income), and the charity does not report fundraising costs. For every dollar donated, 86 cents go to the cause, which is within Ci’s reasonable range for overhead spending.
Springs Church has $2.1m in net reserve funds, once $2.2m in interest-bearing debts have been accounted for. These debts mainly represent loans and mortgages to finance its facilities. Springs Church’s net reserve funds can cover 29% or just over three months of annual program costs.
In its T3010 filings with the CRA, Springs Church reports paying external fundraisers $9k in F2019. The charity does not state how much revenue these fundraisers collected. Springs Church does not report paying external fundraisers in F2021 or F2020.
This charity report is an update that has been sent to Springs Church for review. Changes and edits may be forthcoming.
Updated on August 24, 2023 by Victoria Allder.
Financial Review
Fiscal year ending December
|
2021 | 2020 | 2019 |
---|---|---|---|
Administrative costs as % of revenues | 14.1% | 16.2% | 17.3% |
Fundraising costs as % of donations | 0.0% | 0.0% | 0.0% |
Total overhead spending | 14.1% | 16.1% | 17.3% |
Program cost coverage (%) | 28.9% | (5.0%) | (23.0%) |
Summary Financial StatementsAll figures in $000s |
2021 | 2020 | 2019 |
---|---|---|---|
Donations | 11,370 | 9,726 | 9,760 |
Government funding | 0 | 572 | 9 |
Business activities (net) | 692 | 693 | 699 |
Investment income | 17 | 12 | 21 |
Other income | 206 | 197 | 205 |
Total revenues | 12,284 | 11,200 | 10,695 |
Program costs - Canada | 6,620 | 6,802 | 6,699 |
Grants | 726 | 610 | 610 |
Administrative costs | 1,728 | 1,807 | 1,850 |
Other costs | 161 | 150 | 152 |
Total spending | 9,236 | 9,368 | 9,310 |
Cash flow from operations | 3,048 | 1,832 | 1,384 |
Capital spending | 0 | 828 | 620 |
Funding reserves | 2,125 | (373) | (1,682) |
Note: Ci adjusted for deferred donations, affecting total revenue by ($248k) in F2021, ($278k) in F2020 and ($165k) in F2019. Ci excluded loss on sale of capital assets, decreasing expenses by nil in F2021, $31k in F2020 and nil in F2019. In F2020 and F2019, Ci reported funds transferred to Springs Christian Academy as grants and backed out the amounts from program costs. The F2021 financial statements do not include a note on related party transactions. Hence, Ci reported F2021 grants to Springs Christian Academy, as well as other grants, from the charity’s T3010 filing with the CRA. The charity’s capital assets decreased from $20.6m in F2020 to $20.4m in F2021. However, the charity’s F2021 financial statements do not include a statement of cash flows so Ci was unable to report an exact amount for capital spending.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
3 |
$160k - $200k |
0 |
$120k - $160k |
1 |
$80k - $120k |
6 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2021
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Comments & Contact
Comments added by the Charity:
Charity Contact
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