Bridgepoint Foundation

1 Bridgepoint Drive
Toronto, ON M4M 2B5
Board Chair: Paul Gallagher
Treasurer: Jane Merkley

Website: www.bridgepointhealth.ca
Charitable Reg. #: 88923 4399 RR0001
Sector: Health - Hospital Foundation
Public Foundation

Donor Accountability

Grade: D+

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

donor
endowed
Funding Reserves Program Costs

Spending Breakdown

Full-time staff #7

Avg. Compensation $89,432

Top 10 Staff Salary Range

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

About Bridgepoint Foundation:

Established in 1990, Bridgepoint Foundation raises and manages funds for Bridgepoint Active Healthcare, a complex care and rehabilitation hospital and research centre that is part of Sinai Health System in Toronto. Funds are allocated to support patient programs, facilities, research, academic pursuits, and capital.

In 2015, the foundation changed its General By-Law and main purpose. Prior to March 5, 2015, Bridgepoint Foundation fundraised for Bridgepoint Health, Bridgepoint Hospital and Bridgepoint Health Collaboratory for Research and Innovation through annual appeals, special events and capital campaigns. Since the change, its purpose has been to maintain responsible stewardship of existing bequests, donations and endowments, to accept contributions of new gifts and bequests, and to raise funds, but only as requested by Sinai Health System.

Bridgepoint Foundation reports reaching its goal for its ‘Live Better Campaign.’ This capital campaign, which began in 2014, raised funds for gardens and park settings, patient care, and research. In 2017, Bridgepoint Foundation is running several fundraising events. Such events include a dinner and 70s-themed party (Fandango Fever), a weekend overnight bike ride (The Hero Ride), and a luncheon and jewellery auction (Great Jewellery Heist).

Bridgepoint Active Healthcare and Bridgepoint Foundation have not posted an annual report since F2014. As such, no recent information is available on the foundation’s performance.

Financial Review:

Bridgepoint Foundation is a medium-sized charity with donations and special events revenues of $2.7m in F2016. Administrative costs were 10% of revenues and fundraising costs were 5% of donations. As such, for every $1 donated, 85 cents go to the cause. This falls within Charity Intelligence’s reasonable range for overhead spending.

Overhead costs have decreased significantly over the past 5 years, with the amount going to the cause raising to its current level of 85% from 32% cents in F2012. This can be attributed to the foundation’s change in purpose, which involves less overhead costs.

Bridgepoint Foundation has funding reserves of $10.6m, of which $3.9m are donor-endowed. These funds can cover annual program costs 6.0 times (4.3 times excluding donor-endowed funds).

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

Updated June 5, 2017 by Juliana Badovinac.

Financial Ratios

Fiscal year ending March
201620152014
Administrative costs as % of revenues 9.8%18.2%13.8%
Fundraising costs as % of donations 4.7%21.6%25.4%
Program cost coverage (%) 600.8%771.4%245.7%

Summary Financial Statements

All figures in $s
201620152014
Donations 1,971,6062,590,5843,888,013
Special events 706,4521,641,5091,253,929
Investment income 13,408425,349207,188
Total revenues 2,691,4664,657,4425,349,130
Grants 1,758,4231,255,1993,196,232
Administrative costs 262,822771,538708,575
Fundraising costs 125,386912,6111,305,256
Cash flow from operations 544,8351,718,094139,067
Funding reserves 10,564,1409,683,0457,851,783
Note: In F2015 and F2014, Bridgepoint Foundation reported unrealized gains (loss) on its audited financials. Ci removed these gains, decreasing revenues by $211k in F2015 and $407k in F2014. In F2016, the charity changed auditors and did not report unrealized gains on its cash flow statement or in the financial notes.

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