Loran Scholars Foundation is a 3-star charity with Fair demonstrated impact. It is financially transparent and has an A- results reporting grade which is above average. Its overhead spending is 14% which is within Ci’s reasonable range. Its reserve funds can cover program costs for over five years, which is not within Ci’s reasonable range.

Founded in 1988, Loran Scholars Foundation (LSF) identifies and supports high-potential Canadian students to help them become future leaders. LSF partners with universities, donors, and volunteers to grant student awards and carry out leadership programs for recipients. The charity reports discrimination based on race, sex and other personal characteristics have created systemic barriers. These barriers make it difficult for students to realize their full potential.

The charity spent $4.1m on its programs and grants in the fiscal year ending April 2024 (F2024). LSF has two programs: The Enrichment Program and the Selections Program. LSF spent $1.5m on its Enrichment Program and $802k on its Selections Program. In F2024, LSF granted $1.9m in stipends, which helps cover university living and tuition costs for students in the Enrichment Program. 

Its Enrichment Program got 65% ($1.5m) of program costs in F2024. It is a four-year leadership program that focuses on preparing student leaders through mentorship, summer programs and community events. Each selected student (scholar) is awarded $11,000 and a grant to cover their first-year residence in university. In F2024, 36 scholars were chosen and worked at 79 organizations in the summer.

Its Selections Program got 35% ($802k) of program costs in F2024. It aims to select students with good character, commitment to service and quality leadership. These students are awarded with $6,000 (Loran Finalist Award) and $2,000 (Provincial and Territorial Award) each. In F2024, 411 volunteers spent 7,876 hours reviewing applications. This led to 70 Provincial and Territorial Award recipients and 54 Loran Finalist Award recipients.

Loran Scholars Foundation’s audited financial statements follow activity-based costing, a financial reporting best practice. This means the charity provided a breakdown of program and administrative expenses. However, its financials do not provide a breakdown between administrative and fundraising costs. Ci referred to its T3010 filings with the CRA Charities Directorate to make this breakdown. 

LSF received $5.2m in donations in F2024, which is 71% of total revenue. This is a 21% increase from the $4.3m donations in F2023. In F2024, it received $2.0m in investment income, which is 27% of total revenue. It spent $4.1 on its program and grants in F2024, which is 56% of revenue. In F2024, it granted $1.9m in stipends (research and scholarship grants), which is 26% of revenue. In F2024, it granted $256k to qualified donees. Its three largest grant recipients were the BC Society of Transition Houses ($14k), LEAP Pecaut Centre for Social Impact ($14k), and Imagine Canada ($14k). LSF does not provide information on these grants. In F2024, it recorded a surplus of $2.4m.

LSF spent $338k on fundraising costs, which is 7% of donations. It spent $417k on administrative costs, which is 8% of revenue. LSF has overhead spending of 14%. For every dollar donated to LSF, 86 cents are available to go to the cause. This is within Ci’s reasonable range.

LSF has $26.3m in reserve funds (cash and investments). Its reserve funds can cover 525% or five years and three months of its annual program costs. This is not within Ci’s reasonable range of under three years.

In F2024, LSF had investment returns of 8%. It is 69% invested in equities. Its investment returns have averaged 5% over the last five years.

LSF is committed to grant $2.2m in 2025; $1.8m for its Loran Scholar Awards and $444k for its Finalist and Provincial and Territorial Awards. 

This report is an update that has been sent to Loran Scholars Foundation for review. Changes and edits may be forthcoming. Updated on June 3, 2025, by Leah DeFrancesco.