2023

Annual Results Report

2023

Annual Results Report

2023

Annual Results Report

Driven by our mission. Inspired by our partners.

We’re grateful for the ongoing generosity of donors like you, and the critical support of government and gift-in-kind partners. It’s the trust you place in World Vision Canada that inspires us to be financially accountable to you and to the many children, families and communities we serve.

World Vision adheres to the highest standards of financial accountability, following best practices for transparency by providing access to our annual report, financial statements and donation breakdowns. For external reviews of World Vision, visit Imagine Canada, Charity Intelligence Canada and the Canadian Centre for Christian Charities.

Together we are making the world a better place for children.

In this fiscal year, World Vision Canada anticipates raising $405.5 million in total revenue for its community development, emergency relief and advocacy work, of which approximately 13.2% will be used for necessary fundraising. In cases where donations exceed what is needed or where local conditions prevent program implementation, World Vision Canada will redirect funds to similar activities to help people in need. World Vision Canada is federally incorporated and located in Mississauga, Ontario. For more information, or for a copy of our latest audited financial statements, please visit our website at www.worldvision.ca. You may also send an email to info@worldvision.ca or contact the Director, Operational Excellence at 1.800.268.4888.


Adapting programs to meet shifting priorities 

World Vision is committed to remaining nimble in our approach and responsive in our partnership with the children, families and communities we serve. Your gifts are distributed to achieve maximum effectiveness for the most vulnerable.

Here’s how your gifts are put to work:

 

55%

Livelihoods (Food Security, Economic Empowerment, Disaster Risk Reduction) 

 

14%

Health (Nutrition, RMNCAH, Infectious Diseases)

 

8%

Education (Early Education, Basic Education, Technical and Vocational Education

 

14%

Child Protection and Participation

 

9%

Water, Sanitation and Hygiene

 

2023 Annual Results Report

Our total revenues of $503 million, an increase of 14.7% over the previous year, provided the resources needed to fund our essential programs and maintain necessary operations. Our Five-Year-Support costs (Fundraising and Administration) decreased marginally to 16%. Cash reserves provide sustainable funding for programs and operating cash flows.

2023 Annual Results Report brochure (.pdf)
2023 Audited Financial Statements (.pdf)

Financial reports for previous years available below: *

*Accessible versions of our PDF documents can be provided upon request. Please contact us at info@worldvision.ca or by phone at 1.866.595.5550 and let us know which document you require.

Our Approach to Executive Compensation

All our staff, including our senior leaders, serve with World Vision because they are committed to our mission and values. Their alignment with our values means they do not expect to be paid the same as at other businesses or industries. Being part of a charitable organization like World Vision that seeks to make a difference in the world brings its own special benefits.

However, we do want to recruit top-quality staff members so we can do the most effective work on behalf of children worldwide. Appropriate compensation is one part of attracting those people. When we set staff salaries, especially for our managers and leaders, we try hard to balance the need to attract and retain quality staff with our commitment to careful stewardship of donations and expectations for the use of those funds

Our donors expect us to keep our administrative costs as low as possible, and World Vision is committed to doing that. We are pleased to report that over the past five years, an average of 84% of all revenue went to programs that fight poverty and help children and communities in need.

We regularly review the compensation levels of our senior staff to ensure they are within reasonable rates for the level of skill, knowledge and experience required for their roles. We have a comprehensive policy in place to help us determine appropriate and fair compensation levels for a not-for-profit environment. The compensation policy is overseen by our volunteer Board of Directors, none of whom are members of management.

Our management and executive-level position roles are paid well below industry standards for roles that require the same skills, experience and education level. This is a result of our desire to be good stewards with the funds entrusted to us by donors and to ensure as much money as possible goes to programs to help children and families suffering from poverty and injustice. We feel this achieves our goal of providing fair pay to staff while at the same time reflecting our commitment to serve people facing poverty and injustice.

World Vision Canada’s overall policy is to match salaries for non-management positions to the average in our local market. For senior staff, we increasingly discount salaries below this market average. In recent years, salaries for director-level roles have been discounted by at least 10% when compared to market average for similar roles, while vice-president positions have been discounted by at least 15%. Our CEO earns at least 25% below the market average.

In our annual report to the Canada Revenue Agency, we publicly disclose information about executive compensation including taxable and non-taxable benefits.

We invite you to review our annual report, including our audited financial statements, for more information on how we express our commitment to careful use of our funds to support our ministry for children around the world.


A little more about us.