VGH and UBC Hospital 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.
B-
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.
82%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 82 cents are available for programs.
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OVERVIEW
About VGH and UBC Hospital Foundation:
VGH and UBC Hospital Foundation is a three-star charity. It has a B- results reporting grade, which is below average. Its reserve funds can cover over five years of annual program costs. For every dollar donated to the charity, 82 cents are available to go to the cause, which is within Ci's reasonable range.
Founded in 1980, VGH and UBC Hospital Foundation is the fundraising arm of Vancouver Coastal Health. It raises funds for Vancouver General Hospital (VGH), UBC Hospital, GF Strong Rehab Centre, Vancouver Coastal Health Research Institute, and Vancouver Community Health Services. VGH is the largest hospital and one of two Level 1 Trauma Centres in BC. Half of its patients come from outside Metro Vancouver for advanced treatment available only at VGH. UBC Hospital specializes in non-life-threatening emergencies and services. In F2023, VGH and UBC Hospital Foundation granted $51.9m to Vancouver Coastal Health and $148k to Surrey Hospital Foundation and BC Cancer Foundation. It provides grants in four main areas: equipment and capital projects, research, patient care and other, and education. The charity’s website reports it funds seven pillars: brain, urology, surgery, cancer, heart and lung, innovation, and community.
Equipment and capital projects represented 47% of grants in F2023. VGH and UBC Hospital Foundation raises funds to buy new medical equipment and for expansions to the hospital. In 2016, it launched its $60m Future of Surgery campaign to upgrade VGH’s surgical facilities and reduce wait times. Since the start of the campaign, VGH and UBC Hospital Foundation reports that it has opened 16 new operating rooms and a 40-bed care unit for surgical patients. As part of the campaign’s next phase, the charity plans to renovate 14 existing operating rooms.
Patient Care and Other was 26% of grants in F2023. The charity reports that VGH is the only hospital in BC that offers lung, liver, and pancreas transplants. In F2023, VGH received 26,000 inpatients, 79,000 emergency department visits, and 294,000 clinic visits; while UBC Hospital received 4,400 inpatients and 18,500 urgent care visits. VGH performed 20,000 surgeries and UBC Hospital performed 7,800 surgeries during the year.
Research was 25% of grants in F2023. The charity reports various research breakthroughs it funded throughout the year but does not disclose a total amount of research projects it funds. Its research focuses on urology, surgery, cancer, brain, heart and lung, and innovation.
The remaining 2% of grants went toward Education.
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Results and Impact
VGH and UBC Hospital Foundation reported breakthroughs and published articles its funded research achieved. In urology, a research team developed a silver-based coating that can be applied to devices such as catheters and stents. This coating decreases the probability of infections from catheters and stents.
The charity’s research at the Vancouver Prostate Centre developed a new blood test that provides increased insight into a patient’s cancer make-up. This research was published in Nature. It also discovered that removing a person’s fallopian tubes at the time of other gynecologic surgeries is a safe, effective way to reduce ovarian cancer risk. This research was published in JAMA Network Open.
The New England Journal of Medicine also published research regarding innovations in cardiac care that received 25 references in F2023.
While Ci highlights these key results, they may not be a complete representation of the charity’s results and impact.
This charity is not yet rated for impact (n/r).
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Finances
VGH and UBC Hospital Foundation is a Major 100 charity, one of Canada’s largest charities in terms of donations. It received $61.8m in donations in F2023. Administrative costs are 15% of revenue (excluding net lottery revenue, net business activities, and investment income), and fundraising costs are 3% of donations excluding related party transfers. This results in total overhead spending of 18%. For every dollar donated to the charity, 82 cents are available to go to the cause, which is within Ci’s reasonable range.
VGH and UBC Hospital Foundation has $305.2m in reserve funds, which can cover 588%, or five years and 11 months of its annual program costs.
The charity’s funding reserves contributed $11.1m in investment income in F2023, at an estimated rate of return of 4%. Over the last 11 years, Ci estimates that VGH and UBC Hospital Foundation's investment returns have averaged 6%.
VGH and UBC Hospital Foundation discloses related party transactions. In F2023, it received $265k in donations from directors and officers and $106k from Friends of VGH and UBC Hospital Foundation, which Ci classified as other income.
The charity ran a lottery that raised $30.0m in revenue and incurred $16.3m in expenses. For every dollar given to the charity through its lottery, 54 cents are available to go to the cause.
Charity Intelligence has sent this update to VGH and UBC Hospital Foundation for review. Changes and edits may be forthcoming.
Updated on August 29, 2023 by Liam Chapleau.
Financial Review
Fiscal year ending March
|
2023 | 2022 | 2021 |
---|---|---|---|
Administrative costs as % of revenues | 14.6% | 14.8% | 16.6% |
Fundraising costs as % of donations | 3.2% | 3.0% | 2.2% |
Total overhead spending | 17.8% | 17.8% | 18.9% |
Program cost coverage (%) | 588.2% | 507.5% | 891.8% |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
---|---|---|---|
Donations | 61,758 | 52,101 | 49,221 |
Goods in kind | 97 | 388 | 177 |
Government funding | 0 | 472 | 1,136 |
Lotteries (net) | 13,794 | 15,018 | 10,926 |
Business activities (net) | 2,777 | 0 | 0 |
Investment income | 11,115 | 20,849 | 33,644 |
Other income | 3,631 | 6,830 | 2,363 |
Total revenues | 93,171 | 95,657 | 97,467 |
Grants | 51,892 | 54,810 | 39,433 |
Donor-designated donations | 148 | 446 | 138 |
Administrative costs | 11,985 | 11,051 | 10,618 |
Fundraising costs | 1,960 | 1,563 | 1,098 |
Total spending | 65,984 | 67,870 | 51,287 |
Cash flow from operations | 27,187 | 27,787 | 46,181 |
Capital spending | (644) | 100,465 | 141 |
Funding reserves | 305,231 | 278,163 | 351,679 |
Note: Ci reported lotteries net of expenses, affecting revenue and expenses by ($16.3m) in F2023, ($15.0m) in F2022, and ($14.5m) in F2021. Ci included changes in fair value of investments in investment income, affecting revenue by ($3.9m) in F2023, ($2.1m) in F2022, and $22.1m in F2021. In F2022 and F2021, the charity received government funding through the Canada Emergency Wage Subsidy, which it reported as a reduction of expenses. Ci reported government funding in revenues, affecting revenues and expenses by $472k in F2022 and $1.1m in F2021. Ci reported donated assets as goods in kind and removed the amounts from donations. Ci reclassified donations from related parties, including the charity’s directors and Friends of VGH and UBC Hospital Foundation, as other income and removed the amounts from donations. Ci reclassified net rental income on properties as business activities and removed the amounts from other income, impacting revenue and expenses by ($2.9m) in F2023. To report on a cash basis, Ci adjusted grants by changes in amounts due to Vancouver Coastal Health. This affected expenses by ($1.4m) in F2023, ($896k) in F2022, and ($1.9m) in F2021. Ci included deferred contributions within other income, impacting revenue by $396k in only F2023. Ci removed amortization from administrative costs.
Salary Information
$350k + |
0 |
$300k - $350k |
1 |
$250k - $300k |
1 |
$200k - $250k |
1 |
$160k - $200k |
4 |
$120k - $160k |
3 |
$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:
VGH & UBC Hospital Foundation has made the decision to not publish a traditional annual report, choosing to focus on more specific and bespoke reporting than is possible in one annual publication.
Financial information and distributions can be found here: https://vghfoundation.ca/about/audited-financials/
The Foundation has focused their efforts on providing donors with accountability reports specific to their area of interest and support. Three of these reports can be accessed on the Foundation website:
Brain Breakthroughs: https://vghfoundation.ca/brain-health-campaign-update/
Future of Surgery: https://vghfoundation.ca/welcome-to-the-future-of-surgery/
COVID-19 Response and Research: https://vghfoundation.ca/app/uploads/2021/03/COVID-19-accountability-report-Mar-2021.pdf
In addition to these campaign-specific accountability reports, the Foundation also publishes a bi-annual magazine, which highlights recent initiatives, stories of impact, and donor profiles: https://vghfoundation.ca/vital-magazine/
The Foundation would be pleased to respond directly to any inquiries on our financial information. Please email info@vghfoundation.ca using the Subject Line: Financial Information Request.
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 604-875-4676