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31 2012


Syndicated from: HFHC News

Habitat for Humanity Canada Foundation has been recognized among the top rated charities in the country, earning a cumulative grade of A- and an A+ in overall charity efficiency following MoneySense Magazine's review of Canada's largest 100 charities. "Habitat for Humanity Canada works hard to ensure that donated funds end up in the right place," says Stewart Hardacre, President and CEO of Habitat for Humanity Canada. "With this MoneySense rating, our donors can have greater faith in our charity while new donors can give knowing that their money is going to people in need." MoneySense, a Canadian personal finance magazine, developed the rating system to help Canadian donors pick organizations that spend funds wisely, allowing them to give with confidence. Charities are graded based on five categories with information obtained by the Canadian Revenue Agency, charity websites and the charities themselves. Complete Results for Habitat for Humanity Canada Foundation: Overall Charity Efficiency % of spending going to program Grade 82.4% A+ Funding Efficiency Cost to raise $100 Grade $13.31 B Governance and Transparency Score out of 10 (+1 bonus point) Grade 9.6 A- Reserve Fund Size Reserves on Hand Grade 2 mo. C Compensation Top Salary $160,000-$199,999 Overall Grade A- MoneySense explanation of indicators: Overall Charity Efficiency: This grade measures the percentage of charity expenditures that go toward program costs, rather than overhead and fundraising costs. The higher the percentage going to program costs, the better the grade. Maximum points are given to charities that spend 85% or more on programs. Fundraising Efficiency:This grade looks at how much the charity spends to raise money. The less the charity has to spend to raise $100, the better the grade. Maximum points are given to organizations that spend less than $10. Governance and Transparency: This grade is mainly based on responses to a governance questionnaire we sent out. Points were also given to organizations that post their complete audited financial statements on their website. Reserve Fund Size: Here we give top grades to charities that have between three months and three years worth of reserves on hand. We exuded community foundations from this category, as they hold reserves for other charities. Note that this category was given only half the weight of the other three categories. How to interpret the grades: As much as possible, we tried to grade the charities in relation to their peers. To do this, we grouped similar charities together and normalized the grades. As a result, two charities with similar raw data may receive quite different grades if they are in different categories. For instance, a charity in one category that devotes 90% of expenditures to program costs may get an A+ for Overall Charity Efficiency, while another type of organization spending the same percentage may get an A-. That's because the charities are rated in relation to the others in the same category. Click here for the results from the other 99 Canadian charities reviewed.

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