Thunder Bay Regional Health Sciences Foundation
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✖
FINANCIAL TRANSPARENCY
Audited financial statements available only through official request for information from Charities Directorate.
C-
RESULTS REPORTING
Grade based on the charity's public reporting of the work it does and the results it achieves.
n/r
DEMONSTRATED IMPACT
The demonstrated impact per dollar Ci calculates from available program information.
NEED FOR FUNDING
Charity's cash and investments (funding reserves) relative to how much it spends on programs in most recent year.
56%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 56 cents are available for programs.
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OVERVIEW
About Thunder Bay Regional Health Sciences Foundation:
Thunder Bay Regional Health Sciences Foundation is a 1-star charity that is not financially transparent. Its results reporting score is C-, which is below average. Its overhead spending is outside Ci’s reasonable range and its reserve funds can cover eight years and two months of annual program costs. Before you give, please read Ci’s report.
Founded in 1985, Thunder Bay Regional Health Sciences Foundation (TBRHS) raises money for the Thunder Bay Regional Health Sciences Centre (the Centre). The Centre is an acute care facility serving Thunder Bay and surrounding regions in Ontario. In F2023, 99% ($3.6m) of TBRHS's grants went to the Centre, with the remaining 1% going to other regional hospitals. The Foundation funds three main areas of development: Equipment, Family CARE, and Other Projects. TBRHS did not provide a breakdown of granting by program.
Equipment grants provide new medical technology and patient care equipment. In F2023, the largest purchases were replacing its cardiac monitor system ($500k), which monitors heart rate and vital signs, and diagnostic imaging equipment ($250k), which are machines that help doctors scan for cancer.
Family CARE grants allow hospital staff to submit ideas to improve patient experience. Approved ideas receive grant money to be implemented. In F2023, the largest purchases were occupational therapy wheelchairs ($13k) and stuffed animals with the hospital’s logo ($5k).
Other Projects involve initiatives that prioritize developing privacy in the emergency room, The Thunder Bay Breast Cancer Support Group, chemotherapy kits, and modernizing the Pathology Lab.
TBRHS also allocated $2.8m to renovating its emergency department and $1.0m to its Cardiac Catheterization Lab. It does not provide additional information about this spending, despite it being the bulk of its grants.
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Results and Impact
Ci was unable to find any quantified outcomes from the charity’s public reports. This may not be a complete representation of TBRHS's results and impact. This charity is not yet rated on impact (n/r).
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Finances
In F2023, Thunder Bay Regional Health Sciences Foundation received $4.1m in donations and special events revenue. Administrative costs were 2% of revenues, less investment income. Fundraising costs were 42% of donations. Total overhead spending was 44%. For every dollar donated, 56 cents are available to go to the cause. This is outside Ci’s reasonable range for overhead spending. The charity granted $3.7m in F2023, which is 33% of total revenue.
In F2023, TBRHS had $31.6m in funding reserves. Included in these is $3.2m in donor-endowed funds. Excluding these funds, its reserves can cover eight years and two months of annual program costs.
Ci was unable to include government funding in the charity’s revenues in F2023 as it appears to have made a mistake on its T3010 filing with the CRA. Similar mistakes in its compensation data lead to Ci being unable to report salary information for F2023.
This charity report is an update that has been sent to Thunder Bay Regional Health Sciences Foundation for review. Changes and edits may be forthcoming.
Updated on August 8, 2024 by Stellar Zhang.
Financial Review
Fiscal year ending March
|
2023 | 2022 | 2021 |
|---|---|---|---|
| Administrative costs as % of revenues | 1.7% | 4.8% | 6.8% |
| Fundraising costs as % of donations | 42.0% | 24.7% | 16.5% |
| Total overhead spending | 43.7% | 29.5% | 23.3% |
| Program cost coverage (%) | 814.0% | 712.5% | 573.3% |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
|---|---|---|---|
| Donations | 3,560 | 3,741 | 5,077 |
| Goods in kind | 0 | 168 | 174 |
| Government funding | 0 | 249 | 515 |
| Lotteries (net) | 6,956 | 7,016 | 1,534 |
| Business activities (net) | 157 | 137 | 91 |
| Special events | 540 | 95 | 28 |
| Investment income | (33) | 1,293 | 1,227 |
| Other income | 0 | 0 | 20 |
| Total revenues | 11,180 | 12,699 | 8,665 |
| Program costs | 0 | 0 | 0 |
| Grants | 3,650 | 3,345 | 3,040 |
| Administrative costs | 194 | 547 | 504 |
| Fundraising costs | 1,720 | 949 | 843 |
| Total spending | 5,565 | 4,840 | 4,387 |
| Cash flow from operations | 5,615 | 7,859 | 4,279 |
| Capital spending | 7 | 9 | 20 |
| Funding reserves | 31,598 | 26,096 | 19,787 |
Note: Ci reports special events gross of expenses, affecting revenues and expenses by $171k in F2023, $35k in F2022, and $6k in F2021. Donated goods in kind reported in the charity's T3010 filing with the CRA were removed from donations for F2022 and F2021, but not for F2023 because it was not reported. This reduced Canadian donations by $nil in F2023, $168k in F2022, $174k in F2021. Ci adjusted for deferred revenue within lotteries, as the charity’s auditors note is its source. In F2022 and F2021, Ci included government revenue information from the charity’s T3010 and removed it from donations. This was not applicable in F2023 for reasons stated above. Unrealized gains on investment were included in investment income, increasing investment revenue by $342k in F2023, $603k in F2022, and $629k in F2021. Ci adjusted for investment fees, reducing investment income and admin costs by $84k in F2023, $68k in F2022, and $38k in F2021. Parking revenue and expenses reported by the Foundation were included (net) in revenues.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
1 |
$120k - $160k |
0 |
$80k - $120k |
3 |
$40k - $80k |
6 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2022
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Comments & Contact
Comments added by the Charity:
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: (807) 345-4673