St. Paul's Foundation

About St. Paul's Foundation:

Established in 1980, St. Paul’s Foundation raises funds for St. Paul’s Hospital and the nine other Providence Health Care hospitals and residences in British Columbia. The foundation focuses its efforts on: Targeted Disease Elimination, Kidney, Mental Health and Addiction, Elder Care, Breast Cancer, and Residential Care. St. Paul's Hospital specializes in heart and lung disease, HIV/AIDS, mental illness, and renal disease.

In 2015, St. Paul’s Foundation announced its plan to build a new hospital and integrated academic health campus to replace its 120-year-old building at an estimated cost of $1.2 billion. Upon completion, this will be the first research and teaching hospital in British Columbia.

In F2016, the foundation raised $30.7m and granted $15.2m to Providence Health Care to fund 45 hospital programs: 49% of the grant was spent on research, 22% on education, 15% on capital projects, 13% on equipment, and 1% on enhancing patient care.  The foundation also granted $2m to University of British Columbia and Simon Fraser University.

In April 2016, St. Paul’s Hospital Foundation Vancouver merged with Tapestry Foundation to become St. Paul’s Foundation.

Financial Review:

St. Paul’s Foundation is a Major 100 charity with F2016 donations of $30.7m. Its administrative costs are 2% of revenues and its fundraising costs are 12% of donations. For every dollar donated, 85 cents go towards St. Paul’s Foundation’s programs, falling within Ci’s reasonable range. The charity has funding reserves of $87.5m, of which $13.7m is donor-endowed. This results in a program cost coverage ratio, excluding donor-endowed funds, of 445%. This means that the charity can fund about 4.5 years of its annual program costs using its existing reserves.

This charity report is an update that is being reviewed by St. Paul’s Foundation. Changes and edits may be forthcoming.

Updated June 28, 2017 by Kevin Silberberg.