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London Health Sciences Foundation

747 Base Line Road East
London, ON N6C 2R6
President & CEO: John MacFarlane
Board Chair: Tod Warner

Charitable Reg. #: 89478 1475 RR0001
Sector: Health - Hospital Foundation
Public Foundation

Results Reporting

Grade: C+

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]

Need for Funding

Funding Reserves Program Costs

Spending Breakdown

Cents to the Cause

2014 2015 2016
For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #48

Avg. Compensation $91,123

Top 10 Staff Salary Range

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

About London Health Sciences Foundation:

Founded in 1996 through the merger of University Hospital’s and Victoria Hospital’s associated foundations, London Health Sciences Foundation (LSHF) is the fundraising arm for London Health Sciences Centre (LHSC). LHSC consists of University Hospital, Victoria Hospital, Children’s Hospital, South Street Annex, Lawson Health Research Institute and 2 family medical centres in London, ON.

LHSC identifies fundraising priorities based on its medical needs and future plans that it reports to the Foundation. LHSF then matches its donors’ goals with the identified high-priority needs of LHSC through four major funding buckets: research, education, facilities and equipment, and patient care. LHSF alternatively divides its funding based on the type of medical care that the funding goes towards, including brain health, surgical care, high-priority needs, cardiac care, cancer care, and other care areas such as mental health, orthopaedic and women’s care.

London Health Sciences Foundation’s total disbursements of $13.9m include $10.7m for research and education, $1.9m for capital projects (facilities and equipment), and $1.3m for patient care. LHSF’s research funding goes toward research projects that will advance health care in Ontario. Its education funding includes fellowships, training programs for nurses and doctors, and educational programs for patients and the London community. Facilities and equipment funding helps finance technology purchases that allow hospital staff to treat patients with up-to-date equipment. Through patient care, LHSF funds projects that directly affect a patient’s experience at LHSF-funded hospitals, including patient assistance programs.

Financial Review:

London Health Sciences Foundation is one of Canada’s top 100 largest charities in terms of donations, with total donations and special events revenue of $23.1m in F2016. Based on standard Ci analysis, administrative costs are 6% of revenues and fundraising costs are 23% of donations and special events income. $0.29 of every donated dollar goes to overhead costs, which falls within Ci’s reasonable range for overhead spending. However, LHSF’s website states that Canadian donations do not go towards general operating costs.

LHSF reports gross investment income of $1.9m in F2016, with unrealized losses of $1.1m and direct investment fees of $236k. Net investment income of $588k earned a 1% return on investment in F2016 (F2015: 9%). Of the Foundation’s $48.8m in investments, 41% are equities and 39% are bonds.

London Health Sciences Foundation holds funding reserves of $65.0m in F2016, of which $15.8m are held in its Endowment Fund. Excluding endowed funds, LHSF’s reserves can cover annual funding activities for 3.7 years according to Ci analysis. LHSF's funding activities are reported under grants in the summarized financial  statements below.

LHSF also notes that its disbursements are not made at a steady rate from year to year, making program cost coverage difficult to predict for future years.

This charity report is an update that is currently being reviewed by London Health Sciences Foundation. Changes and edits may be forthcoming.

Updated on August 25, 2016 by Katie Khodawandi.

Financial Ratios

Fiscal year ending March
Administrative costs as % of revenues 5.5%4.9%4.5%
Fundraising costs as % of donations 23.0%31.0%32.2%
Program cost coverage (%) 466.9%561.4%421.9%

Summary Financial Statements

All figures in $000s
Donations 19,81814,73913,735
Lotteries (net) 516385653
Business activities (net) 01,2692,887
Special events 3,2583,4903,521
Investment income 5884,1003,363
Total revenues 24,18023,98324,159
Grants 13,91110,94513,676
Administrative costs 1,287973941
Fundraising costs 5,3105,6465,549
Cash flow from operations 3,6726,4193,993
Funding reserves 64,95661,44057,699
Note: Ci reported revenue from parking operations net of direct expenses in business activities, lowering revenues by $4m in F2015 and $10m in F2014. The charity discloses in the financial notes that its agreement held with LHSC for parking operations was terminated on September 1, 2014. Ci reported investment income net of investment fees, lowering total revenues and expenses by $236k in F2016, $220k in F2015 and $198k in F2014.

Comments added by the Charity:

[Charity Intelligence note: This profile has recently been updated. The comments that follow apply to an earlier version and may be revised.]

London Health Sciences Foundation is not a granting body and does not grant money as depicted by this report. Our foundation meets London Health Sciences Centre’s philanthropic needs, as identified by development councils at the hospital. These councils - comprising of physicians, researchers and administrators - prioritize needs within the hospital’s programs, based on medical requirement and financial sustainability. The foundation then raises funds by encouraging donations to these hospital-prioritized needs and disburses the funds as required. Our foundation is committed to ethical and transparent fundraising; acting as a trustee by honouring our donors’ wishes and ensuring that any money we accept is properly disbursed to the initiative or project designated by our donors.


Contrary to the Charity Intelligence analysis, financial reserves cannot be assessed in a simple division of one year disbursements compared to the reserve fund, as disbursements are not made at a steady rate year over year. For instance, in 2011 we disbursed $36.26 million to the hospital compared to $7.6 million in 2010. In addition to endowments, there are many reasons for holding reserves prior to disbursement, including saving funds for capital (construction) projects or equipment purchases, and holding donor-restricted funds (e.g. A donation that was directed by a donor to fund a specific multi-year research project will be disbursed over the lifetime of the project and cannot be used for other purposes).


Our audited financials can be found at

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