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VGH and UBC Hospital Foundation

190-855 West 12th Avenue
Vancouver, BC V5Z 1M9
President & CEO: Barbara Grantham
Board Chair: David Rowntree

Charitable Reg. #: 13217 3063 RR0001
Sector: Health - Hospital Foundation
Public Foundation

Results Reporting

Grade: C

The grade is based on the charity's public reporting of the work it does and the results it achieves.

Financial Transparency

Audited financial statements for current and previous years available on the charity's website [Audited financial statement for most recent year]

Need for Funding

Funding Reserves Program Costs

Spending Breakdown

Cents to the Cause

2014 2015 2016
For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #58

Avg. Compensation $93,403

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 1
$250k - $300k 0
$200k - $250k 2
$160k - $200k 1
$120k - $160k 6
$80k - $120k 0
$40k - $80k 0
< $40k 0
Information from most recent CRA Charities Directorate filings for F2016

About VGH and UBC Hospital Foundation:

Founded in 1980, the VGH & UBC Foundation raises money on behalf of the University of British Columbia Hospital, the Vancouver General Hospital, the GF Strong Rehab Centre, the Vancouver Coastal Health Research Institute, and Vancouver Community Health Services. Funds are used to expand facilities, purchase equipment, and to support patient care, research, and education. The Foundation reports that every year more than 600,000 British Columbians access the affiliated hospitals and community health services. Since 1980, the Foundation has raised over $500m.

In recent years, the VGH & UBC Foundation has supported many equipment purchases including Western Canada’s first surgical robot. It has also established an educational bursary for nurses, supported the construction of many clinical and research centres, and has endowed chairs in multiple sclerosis research and breast reconstruction surgery.

In F2016, the VGH & UBC Foundation provided $35.1 million in funding. This funding was used to purchase $16.9 million of equipment including 19 long-term ventilators, 10 pieces of surgical equipment, 6 patient monitors, 5 dual-chamber pacemakers, and more. $17.2 million was used to fund research, education, and patient care. The remaining $1 million was granted to St Paul’s Hospital Foundation of Vancouver.

Financial Review:

The VGH & UBC Foundation is a Major 100 charity with donations of $36.4m in F2016. Its administrative costs are 15% of revenues, and its fundraising costs are 5% of donations. For every dollar donated, 79 cents go towards the Foundation’s programs, falling within Ci’s reasonable range. The Foundation has $228.8m in total funding reserves, resulting in a program cost coverage ratio of 653%. This means that the charity can cover 6.5 years of its annual program costs using its existing reserves. While the UBC & VGH Foundation does maintain an endowment fund, it does not disclose the respective allocations of donor-endowed and internally-endowed funds. As a result, Ci assumed the endowment fund was entirely internally endowed in its calculations.

This charity profile is an update currently under review by VGH & UBC Foundation, changes and edits may be forthcoming.

Updated July 5, 2017 by Kevin Silberberg.

Financial Ratios

Fiscal year ending March
Administrative costs as % of revenues 15.1%12.3%13.5%
Fundraising costs as % of donations 5.4%3.8%3.4%
Program cost coverage (%) 652.6%956.9%836.9%

Summary Financial Statements

All figures in $000s
Donations 36,37440,58833,670
Government funding 01,0005,000
Lotteries (net) 4,4563,7654,495
Business activities (net) 2,0851,8611,783
Investment income 2,03119,20516,318
Other income 4,6466,1622,524
Total revenues 49,59372,58163,789
Program costs 000
Grants 35,05223,86622,684
Administrative costs 7,1896,5756,396
Fundraising costs 1,9711,5511,142
Cash flow from operations 5,38040,58833,567
Funding reserves 228,762228,382189,839
Note: Lottery income has been reported net of expenses, affecting both revenues and expenses by ($15.3m) in F2016, ($15.4m) in F2015, and by ($15.1m) in F2014. Ci has also included unrealized investment gain (loss) in revenue, affecting revenues by ($12.2m) in F2016, $6.9m in F2015, and by $7.3m in F2014.

Comments added by the Charity:

VGH & UBC Hospital Foundation is committed to ensuring that Canadians have access to correct information to help them make informed choices.

We’ve included some additional context on some of the information presented by Charity Intelligence and would be pleased to respond directly to any inquiries on our financial information

Analysis of “Funding Reserves” as defined by Charity Intelligence.

The Charity Intelligence metrics of “Funding Reserves” and “Program Cost Coverage (%)” implicitly assume that all cash and investments are freely available for use and do not account for the needs of VGH & UBC Hospital Foundation to continue raising funds in support of health care.

The following reconciliations more appropriately demonstrate coverage ratios.

The second reconciliation shows true program coverage, again, using audited financial statements.

Charity Intelligence States that the Foundation “does not disclose total endowment funds restricted by donors”.  In fact the Foundation does disclose the amounts of Endowment, Specific Purpose and General Fund on the audited financial statements.

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