St. Paul's Foundation of Vancouver
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.
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.
87%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 87 cents are available for programs.
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OVERVIEW
About St. Paul's Foundation of Vancouver:
St. Paul's Foundation of Vancouver is a 2-star charity with below average results reporting and reasonable overhead costs. It is financially transparent. With current reserves the charity can cover seven years and eight months of annual program costs.
Founded in 1980, St. Paul’s Foundation of Vancouver (St. Paul’s Foundation) raises money to improve patient care and fund innovation at St. Paul’s Hospital and other healthcare centres in British Columbia. The Foundation was previously named St. Paul’s Hospital Foundation of Vancouver until merging with Tapestry Foundation in April 2017. In F2022, St. Paul’s Foundation granted $26.9m to healthcare centres in BC, of which 92% was allocated to Providence Health Care Society. Providence Health Care Society is comprised of ten hospitals and residences, including St. Paul's Hospital.
In F2022, St. Paul’s Foundation allocated 39% of total grants to research. Main research priorities in F2021 included the effects of long covid-19 and minimally invasive techniques to remove fibroids. By funding research, St. Paul’s Foundation aims to improve quality of life and access to care, discover new treatments, and ultimately eliminate chronic illnesses.
Besides research, St. Paul’s Foundation allocated 25% of grants to education, 13% to equipment purchases, 6% to capital projects, and 1% to patient care. The remaining 16% of grants were distributed for other purposes that the Foundation did not specify.
In F2021, construction began on the new St. Paul’s Hospital at the Jim Pattison Medical Centre. The $2.2 billion project is set for completion in 2027. The new hospital building will have 548 beds, an increase of 115 from the existing building. The Foundation reports that the new center will be 500,000 square feet.
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Results and Impact
In F2022, doctors at Mount St. Joseph’s fast tracked a technique called peripheral nerve block specifically on breast surgeries. It uses local anesthesia injected in the back and chest to numb the entire area. This technique prevents using general anesthesia, and therefore leads to a quicker recovery, fewer postoperative complications and shorter stay at the hospital.
While Charity Intelligence highlights these key results, they may not be a complete representation of St. Paul’s Foundation of Vancouver’s results and impact. This charity is not yet rated on impact (n/r).
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Finances
St. Paul’s Foundation of Vancouver is a Major 100 charity, one of Canada’s largest charities with $55.2m in donations. Combined administrative and fundraising costs are 13% of revenues (less investment income). For every dollar donated, 87 cents go to the cause, which is within Ci’s reasonable range for overhead spending.
St. Paul’s Foundation has $222.6m in reserve funds. These funds are the charity’s cash and investments. Of these reserve funds, $27.9m is donor endowed. Excluding donor-endowed funds, the Foundation could grant at the F2022 level seven years and eight months.
This charity profile is an update to be sent to St. Paul’s Foundation of Vancouver for review. Changes and edits may be forthcoming.
Updated on August 24, 2023 by Alessandra Castino.
Financial Review
Fiscal year ending March
|
2022 | 2021 | 2020 |
|---|---|---|---|
| Fundraising & admin costs as % of revenues | 13.5% | 13.7% | 11.7% |
| Total overhead spending | 13.5% | 13.7% | 11.7% |
| Program cost coverage (%) | 762.7% | 655.4% | 402.2% |
Summary Financial StatementsAll figures in $000s |
2022 | 2021 | 2020 |
|---|---|---|---|
| Donations | 55,179 | 50,465 | 38,155 |
| Goods in kind | 0 | 0 | 25,100 |
| Government funding | 6,404 | 5,221 | 1,587 |
| Business activities (net) | (54) | (144) | 208 |
| Investment income | 5,345 | 27,440 | (7,260) |
| Other income | 126 | 142 | 0 |
| Total revenues | 66,999 | 83,125 | 57,790 |
| Grants | 26,931 | 26,531 | 30,010 |
| Fundraising & administrative costs | 8,295 | 7,618 | 7,633 |
| Total spending | 35,225 | 34,149 | 37,643 |
| Cash flow from operations | 31,774 | 48,975 | 20,147 |
| Capital spending | 0 | 0 | (28,674) |
| Funding reserves | 222,623 | 191,746 | 141,347 |
Note: Ci removed government funding from donations and other income and presented it separately. Ci reported parkade revenues net of expenses, decreasing both revenues and expenses by $145k in F2022, $144k in F2021, and $105k in F2020. Ci has adjusted for the change in grants payable, affecting expenses by ($233k) in F2022, $73k in F2021, and ($114k) in F2020.
Salary Information
$350k + |
1 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
2 |
$160k - $200k |
5 |
$120k - $160k |
2 |
$80k - $120k |
0 |
$40k - $80k |
0 |
< $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: 604-682-8206