Bridgepoint Foundation
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✔+
FINANCIAL TRANSPARENCY
Audited financial statements for current and previous years available on the charity’s website.
F
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.
48%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 48 cents are available for programs.
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OVERVIEW
About Bridgepoint Foundation:
Founded in 1990, Bridgepoint Foundation raises and grants money to fund Bridgepoint Active Healthcare, a part of Sinai Health System. In 2015, Mount Sinai combined with Bridgepoint Active Healthcare and formed Sinai Health System, which also includes Circle of Care and Lunenfeld-Tanenbaum Research Institute. Sinai Health System combines acute, complex, rehabilitative, primary, and home care as well as other community-based services. Money granted by the Foundation is used to fund Bridgepoint Active Healthcare’s patient programs, facilities, research, academic pursuits, and equipment. In F2020, the Foundation granted $2.2m.
Bridgepoint Active Healthcare is a 446-bed rehabilitation and complex care hospital affiliated with the University of Toronto. The hospital states that it is the largest organization in Canada to focus exclusively on research, care, and teaching for people with complex health conditions. The hospital’s clinical areas of focus include inpatient and outpatient rehabilitation, palliative care, dialysis, and specialized complex care. In F2021, Bridgepoint Active Healthcare had 7,049 outpatient visits and 4,000 virtual patient visits.
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Results and Impact
In F2021, Bridgepoint Active Healthcare pivoted its operations in light of the covid-19 pandemic. The Foundation established a covid-19 emergency response fund to support patient care and equipment needs at the hospital. The hospital began accepting patient transfers from acute care hospitals in covid-19 hotspot areas with no room for patients. Bridgepoint Active Healthcare accepted over 120 patient transfers in four months.
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Finances
In F2020, Bridgepoint Foundation had total donations and special events revenues of $574k. Administrative costs were 43% of revenues and fundraising costs were 9% of donations. This results in total overhead spending of 52%, compared to 43% in F2019 and 34% in F2018. This increase in overhead spending was mainly due to the large decrease in donations and special event revenues from F2018 to F2020. For every dollar donated to the Foundation, 48 cents go to the cause, which is outside Ci’s reasonable range for overhead spending.
Bridgepoint Foundation has $7.4m in funding reserves, which could cover almost three years and five months of annual grants at the F2020 level.
Bridgepoint Foundation has not reported employee compensation on its CRA T3010 filings since F2015.
This charity report is an update that has been sent to Bridgepoint Foundation. Changes and edits may be forthcoming.
Updated on August 11, 2021 by Sydney Olexa.
Financial Review
Fiscal year ending March
|
2020 | 2019 | 2018 |
|---|---|---|---|
| Administrative costs as % of revenues | 42.6% | 20.1% | 14.5% |
| Fundraising costs as % of donations | 9.1% | 23.2% | 19.8% |
| Total overhead spending | 51.7% | 43.3% | 34.3% |
| Program cost coverage (%) | 340.2% | 474.6% | 958.9% |
Summary Financial StatementsAll figures in $s |
2020 | 2019 | 2018 |
|---|---|---|---|
| Donations | 528,425 | 785,368 | 1,635,024 |
| Special events | 45,169 | 768,842 | 1,004,486 |
| Investment income | (10,834) | 462,388 | 162,411 |
| Total revenues | 562,760 | 2,016,598 | 2,801,921 |
| Grants | 2,177,243 | 1,964,399 | 1,028,550 |
| Administrative costs | 244,374 | 311,631 | 383,699 |
| Fundraising costs | 52,393 | 360,787 | 521,684 |
| Total spending | 2,474,010 | 2,636,817 | 1,933,933 |
| Cash flow from operations | (1,911,250) | (620,219) | 867,988 |
| Funding reserves | 7,407,253 | 9,323,536 | 9,863,152 |
Note: Ci adjusted for changes in grants payable, affecting expenses by $24k in F2020, ($10k) in F2019, and $10k in F2018. The Foundation did not separate externally-endowed funds and internally-endowed funds on its audited financial statements. As such, Ci was not able to exclude externally-endowed funds from the program cost coverage ratio.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
0 |
$80k - $120k |
0 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2020
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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: 416-586-8203