Sinai Health Foundation

1001-522 University Avenue
Toronto, ON M5G 1W7
Acting CEO: Kevin Goldthorp
Secretary: Les Viner

Charitable Reg. #: 11904 8106 RR0001
Sector: Health - Hospital Foundation
Public Foundation

Charity Rating

[Charity Rating: 4/4]

Social Results Reporting

Grade: B+

The grade is based on the charity's public reporting of the work it does and the results it achieves.

Financial Transparency

Audited financial statements for current and previous years available on the charity's website [ Audited financial statement for most recent year ]

Program Cost Coverage

Funding Reserves Program Costs

Spending Breakdown

Full-time staff #48

Avg. Compensation $111,279

Top 10 Staff Salary Range

$350k + 1
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 4
$120k - $160k 2
$80k - $120k 3
$40k - $80k 0
< $40k 0
Information from most recent CRA Charities Directorate filings for F2015

About Sinai Health Foundation:

On February 1st 2016, the Mount Sinai Hospital Foundation officially changed its name to the Sinai Health Foundation. This name change was due to the formation of the Sinai Health System, a new organization that resulted from a voluntary amalgamation between Mount Sinai Hospital, Bridgepoint Active Healthcare, the Lunenfeld-Tanenbaum Research Institute and home care provider Circle of Care. Together, the collective organizations are building an integrated health system that provides better care and smoother transitions for patients. The Sinai Health Foundation raises funds for the research, patient care, and clinical education of the Sinai Health System.

In F2015, the foundation granted $25m to the Mount Sinai Hospital and $10m to the Lunenfeld-Tanenbaum Research Institute. In F2015, the Mount Sinai Hospital had 60,930 emergency department visits, 745,319 ambulatory clinic visits, 183,697 medical imaging procedures, 6,599 births, 16,156 surgeries, and 183,697 medical imaging procedures. The foundation passed the halfway mark for the $500m Renew Sinai Campaign, raising $255m as of F2015. The donations from this campaign will be used to revitalize, rethink, and redesign every major area of care in the Sinai Health System.

Financial Review:

In F2015, the Sinai Health Foundation's administrative costs were 8% of revenues, while fundraising costs were 11% of donations. Total overhead costs of 19% fall within Ci's reasonable range. The charity has funding reserves of $106m, including donor-endowed funds of $94m. The total funding reserve can cover annual grants and programs for 3 years or 11 months excluding donor-endowed funds.

Analysis updated by Ruoxi Gao in 2016, currently under review by the Sinai Health Foundation.

Financial Ratios

Fiscal year ending March
Administrative costs as % of revenues 8.2%5.0%7.5%
Fundraising costs as % of donations 10.9%9.1%17.7%
Program cost coverage (%) 299.0%263.4%195.4%

Summary Financial Statements

All figures in $000s
Donations 43,06858,62030,952
Investment income 8,1815,7543,719
Total revenues 51,25064,37434,670
Program costs 74206293
Grants 35,29735,32534,099
Administrative costs 3,9043,1462,812
Fundraising costs 5,1595,7006,675
Cash flow from operations 6,81619,998(9,209)
Funding reserves 105,76893,57867,207
Note: Ci used fundraising allocations from the charity's T3010 CRA filings as the charity did not report fundraising costs separately from administration costs on its audited financial statements.

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