University Health Network Foundation is a two-star charity. It has a C- results reporting grade, which is below average. For every dollar donated to the charity, 88 cents are available to go to the cause, which is within Ci's reasonable range. It has funding reserves that can cover over six years of its annual grants.

Founded in 1977, the University Health Network Foundation (UHNF) raises funds for research, building projects, patient care, and education at Toronto General Hospital, Toronto Western Hospital, Toronto Rehab, and the Michener Institute of Education at University Health Network (UHN). UHNF was created in 2021 after the amalgamation of Toronto General and Western Hospital Foundation and Toronto Rehab Foundation.

Toronto General Hospital was the highest-ranked Canadian hospital in Newsweek's World's Best Hospitals 2025, coming 3rd in the world.

In F2024, UHNF granted $134.1m in total—$132.9 million to UHN and $1.2 million to other donees—up from $119.5m in F2023.

Research represented 41% of grants in F2024 ($55.0m). UHNF funds research on treatments and cures for various neurological and cardiovascular disorders. The charity states that its visionary research program has completed more than 60 clinical trials and has over 30 clinical trials still in progress.

Building projects represented 36% of grants in F2024 ($48.3m). The charity states that the fast population growth of the city of Toronto demands increased hospital capacity. It currently has two building projects underway: a new tower being built for surgical care at Toronto Western, which will increase operating room capacity by 20% and is expected to be completed in 2028, and an expansion of the Emergency department at Toronto General Hospital, which will increase capacity by 9,000 square feet.

Patient care represented 18% of grants in F2024 ($24.1m). UHNF raises funds to buy new equipment and improve patient services across UHN hospitals. The charity states the Schroeder Arthritis Institute performs more than 1,200 joint replacement surgeries each year. It adds that the Department of surgery performs more than 35,000 surgeries each year, including over 375 robotic procedures. UHNF states that the Toronto Centre for Liver Disease at UHN cares for more than 25,000 patients with every liver condition annually.

Education represented the remaining 5% of grants in F2024 ($6.7m). This program supports teaching and learning at UHN for medical students and professionals.

UHNF is a Major 100 charity, one of Canada’s largest charities in terms of donations. It received $165.2m in donations and special events revenue in F2024. The charity reports administrative and fundraising costs combined. Administrative and fundraising costs are 12% of revenue (excluding investment income and net lotteries). This results in total overhead spending of 12%. For every dollar donated to the charity, 88 cents are available to go to the cause, which is within Ci’s reasonable range.

UHNF has $1,146.5m in reserve funds, of which $342.8m are donor endowed. Excluding donor-endowed funds, its reserve funds can cover 687%, or six years and ten months of its annual grant costs.

The charity’s funding reserves contributed $73.5m in investment gains in F2024, at an estimated rate of return of 9.6%. Over the last 14 years, Ci estimates that UHNF’s investment returns have averaged 5.9%.

UHNF’s financial statements note related party transactions with UHN and American Friends of UHN. In F2024, the Foundation received $71.1m in funding from UHN, even as it provided $132.9m in grants and $20.9m in overhead reimbursements back to UHN. The resulting net transfer from UHNF to UHN totaled $82.7m , accounting for 32% of UHNF’s total revenue (excluding funds from UHN). The remaining $1.2m in grants went to other unrelated parties (less than 1% of revenue excluding funds from UHN). Total grants represent 81% of spending in F2024.

Charity Intelligence has sent this update to University Health Network Foundation for review. Changes and edits may be forthcoming.

Updated on November 3, 2025 by Victoria Allder