For the third straight year, Chalice, a Catholic charity based in Nova Scotia, has been awarded an overall “A” rating by MoneySense magazine in its “Charity 100” list.
The Canadian business magazine annually publishes its ratings of the biggest 100 charities in Canada based on four categories — charity efficiency, fundraising efficiency, governance and transparency and reserve fund size. And each year, Chalice, primarily a sponsorship program between Canadians and children in developing nations that also runs mission trips and raises money for disaster relief, has received top marks.
For Chalice marketing manager Sehne Connell, the rating means the world.
“We look forward to this magazine and we really hope that we continue with our A rating,” Connell said. “It’s really, really important to us because it confirms to our existing sponsors and donors that they are part of an organization that can be trusted with their donations.”
It’s also an extra marketing boost that makes a difference to this small charity, which relies primarily on word of mouth.
“It allows others to get to know who we are,” Connell said. “We don’t spend a lot of money on … advertising. We rely on people to spread the word and let others know about Chalice.”
Connell said the main reason Chalice is so tight with its advertising budget is because of the “golden ratio” — that is, sending 92-93 per cent of all donations overseas, to the children.
“Every decision we make and expense we have to incur, we make sure upfront that we are going to be able to send (that percentage of) money to the children,” he said.
It’s also why, according to Connell, the charity only received a B rating in the “reserve fund size” category.
“We just don’t believe that we should keep money back and have a big reserve,” Connell explained. “The money we do have — four months reserve — is where we want to keep it.”
But the B rating in the “governance and transparency” section is something Connell says Chalice will be working on.
“We need to look at improvement. We’re not showing enough (financial information) on our web site,” he said. “We just need to get up there. That’s not something we would ever hide. It’s open to anybody.”
In the other two categories, “charity efficiency” and “fundraising efficiency,” Chalice received two A+ grades. In the section of International Aid and Development charities, in which Chalice fit, the only other organizations to receive an overall A rating were Free the Children and Compassion Canada, another sponsorship program.
For Connell, it’s not just about awareness, but also acknowledgment of hard work.
“We love the work that we do and we get to see the results in the field and the difference that it makes,” he said.
“It’s rewarding to see that you get recognition.”