Charity Intelligence provides Canadians with the answers they've asked
TORONTO, Nov. 16, 2011 /CNW/ - Charity Intelligence Canada today
launches an independent online service for donors with research reports
on Canada's Major 100 Charities. Each easy-to-read charity report
answers the most frequently-asked questions donors have about Canada's
largest "household" name charities; how a dollar donated is spent, the
charity's wealth, the charity's openness in disclosing information and
also basic information about charity staff and salaries. Canada's Major
100 Charities are selected by their sheer size, the 100 charities that
receive the largest amount of donations from Canadian donors.
Canadian donors are increasingly asking questions about their giving and
seek information to make better giving decisions. Since its beginning
in 2006, thousands of donors have called on Charity Intelligence asking
for information about the charity they support. The service is free and
accessible - anyone can use this charity search engine at Charity
Intelligence's website www.charityintelligence.ca.
"We recognize that each donor is unique, with personal passions and
interests and that they should be confident and empowered to make
giving decisions," says Kate Bahen, Managing Director of Charity
Intelligence. "Our goal is simply to help donors by providing the facts
and figures to help them make better-informed giving decisions."
When putting together this report, Ci uncovered a number of key
findings. Highlights from these include:
Lack of Transparency in 19 of Canada's Major 100 Charities. There is a startling lack of disclosure in Canada's vital charitable
sector. Of Canada's Major 100 charities, 19 do not publically disclose
audited financials, nor would they disclose this financial information
when requested, forcing an official request for information from Canada
Revenue Agency. These 19 "closed" charities received $800 million in
donations in the most recent year.
Canada's Major 100 Charities Receive 37 per cent of Total Canadian Donor
Support. According to Ci's findings, Canada's Major 100 charities received a
total of $4.5 billion in donations from Canadians in 2009. Ci
estimates that the Major 100 received 37% of total individual and
corporate tax-receipted donations. In other words, the Major 100
charities represent 0.12% of the 85,630 registered charities in Canada
and receive more than 1/3 of total annual donations by Canadians.
14 of Canada's Major 100 Charities exceed CRA fundraising guidelines. In 2010, the CRA increased its fundraising allowance from 20% to 35%,
yet 14 of the Major 100 Charities exceed the 35% level.
Canada has "rich" charities and "poor" charities. Some charities fundraise because they can, not because they can't meet
an unforeseeable need. Some charities can run their programs for years
without raising another dollar. 25 of Canada's Major 100 charities have
enough cash and investments on hand to cover three or more years of
their annual program costs. From a donor's perspective, this means that
donations will likely be invested, rather than used for charity work in
the next year. On the other hand, "poor" charities would grind to a
halt without annual donations. Donors who give annually may wish to
pick charities that need money for next year's programs.
Charity Salaries. Executive compensation is a hot-button issue. Some donors prefer to
give to professionally-run charities that may offer the promise of good
management and greater results. Other donors feel very strongly
"In some respects Charity Intelligence's online search engine is similar
to the hugely popular US-based Charity Navigator", says Greg Thomson,
Ci Director of Research. "Yet we believe this analysis is
ground-breaking. We've used the "gold-standard" of disclosure and
accountability, the charity's audited financial statements, rather than
government filings. We believe Canadian donors deserve nothing less."
This is only the beginning. Canada's Major 100 Charities are now posted
on Charity Intelligence's new website www.charityintelligence.ca . If donors do not find the charity they want information on, Ci asks
them to submit a request. The 3-year goal is to have 1,000 charity
reports posted and available for all Canadians.
About Charity Intelligence Canada
Charity Intelligence Canada (Ci) is a Canadian charity that seeks to
help Canadians be empowered donors. Ci provides evidence-based research
and standardized analysis on Canadian charities to help donors make
intelligent, more strategic giving decisions. Ci helps donors to be
social investors. Charity Intelligence's research is independent and
solely-funded by donors.
SOURCE Charity Intelligence Canada
For further information:
For more information, or to schedule an interview, please contact Martha Grant at 416-302-4957 firstname.lastname@example.org
For media in Alberta, please contact Joni Avram at email@example.com