“We looked more holistically at the research to say, what happens when people have more food? What does it impact?” What they found is that having enough food to eat improves people’s health and well-being and even their income. Thomson notes that more food banks included for the Top 10 Impact Charities lists is due to additional research into food banks. And while it had plans to increase that number, it currently remains the same, as rather than spending their time expanding the amount of charities with an impact rating, in 2022 Ci chose to invest in refining its understanding of the change created by different charitable programs. In 2018, Ci started adding impact scores on some of its charity reports, and currently includes this metric in about 300 of the 800-plus Canadian charities it researches. And for the past five years (starting in 2018), it’s done a deep dive into Canadian charities to come up with an “ impact rating”-a financial measurement of the on-the-ground work each one does.Ĭi was already using publicly available information-including financial statements, annual reports, and websites-to rate charities in four areas: results reporting, financial transparency, need for funding, and “cents to the cause” (how much of each donated dollar goes to a charity’s programs after paying for administration, management and fundraising costs). Ci has released top impact lists now for six years (starting in 2017). How can you find out which charities provide the greatest impact for your donation dollar? That’s where Ci comes in. But when we do the value creation for that one child, we struggle to even get $10,000, out of that $25,000.” And that includes the cost savings to the family if they had taken on the expense of a trip or renovation themselves, he adds. “One child receives a bedroom makeover, a trip to Disney World, or some other thing that makes them feel really good for a while-and may even improve their physical health a little bit. “Wish charities are wonderful-feeling things that people love to give to, but they are really expensive,” he says. For example, charities that grant wishes to critically ill children often spend upwards of $25,000 per child, but the value provided to the child and their family is much lower, says Thomson. On the other end of the spectrum, there are charities that destroy value, perhaps producing just $40 worth of measurable change from the same $100-donation because of spending too much in relation to the benefit they create. For example, a charity that helps at-risk teens could provide a sizable financial benefit to the youth who use its programs (in the form of food, housing, wellness, etc.), as well as to the greater community through cost savings to the public health-care and shelter systems. Indeed, there are charities that can take a $100-donation and turn it into nearly $700 worth of value for the people it supports and society at large. Others have almost nothing to show for the money coming from donors,” says Greg Thomson, director of research at Charity Intelligence (Ci), a charity that helps Canadians make informed giving decisions. “Some charities create a lot of change with the donations given to them. What impact means for charities-and for your donations Get free MoneySense tips and more in your inbox! It pays to know. Interfaith Food Bank Society of Lethbridge Top 10 Impact Canadian Food Banks Charity Top 10 International Impact Charities Charity Learn more about our advertising and trusted partners. To help you find the best financial products, we compare the offerings from over 12 major institutions, including banks, credit unions and card issuers. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999.
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