Credit Valley 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.
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.
46%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 46 cents are available for programs.
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Programs
About Credit Valley Hospital Foundation:
From 1982-2013, the Credit Valley Hospital Foundation was dedicated to raising the critical funds needed to address the highest priority needs of Trillium Health Partners, of which Credit Valley Hospital is a member.
As of F2014, Credit Valley Hospital Foundation and Trillium Health Centre Foundation have merged to become Trillium Health Partners Foundation. To view an updated profile on the amalgamated foundation, please click here.
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Finances
In its last year of operation, F2013, Credit Valley Hospital Foundation was a big-cap charity with donations and special events revenue of $6m. Fundraising costs were 51% of donations, and administrative costs were 3% of revenues. For every $1 donated to the charity, 46 cents went to the cause. This falls outside of Charity Intelligence’s reasonable range of overhead spending. The Foundation had funding reserves of $11.4m (including $1.5m of donor-endowed funds), which cover annual program costs 15.9 times (15.4 times excluding donor-endowed funds).
Financial Review
Fiscal year ending March
|
2013 | 2012 | 2011 |
|---|---|---|---|
| Administrative costs as % of revenues | 3.0% | 2.9% | 3.0% |
| Fundraising costs as % of donations | 50.9% | 37.9% | 36.5% |
| Program cost coverage (%) | 1,539.2% | 161.8% | 69.8% |
Summary Financial StatementsAll figures in $000s |
2013 | 2012 | 2011 |
|---|---|---|---|
| Donations | 3,909 | 4,777 | 4,782 |
| Business activities (net) | 879 | 615 | 328 |
| Special events | 2,138 | 1,986 | 1,037 |
| Investment income | 320 | 214 | 586 |
| Total revenues | 7,246 | 7,592 | 6,733 |
| Grants | 718 | 4,272 | 9,440 |
| Administrative costs | 207 | 217 | 181 |
| Fundraising costs | 3,075 | 2,562 | 2,124 |
| Cash flow from operations | 3,246 | 541 | (5,012) |
| Funding reserves | 11,408 | 8,228 | 7,941 |
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
1 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
2 |
$80k - $120k |
3 |
$40k - $80k |
4 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2012
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Comments & Contact
Comments added by the Charity:
Ci does not include investment income in the calculation of Fundraising and administrative costs as a percentage of revenue, while the Foundation calculates it as a percentage of total revenues - 36.6% in 2013, 34.2% in 2012, and 46.1% in 2011. Annual program cost coverage may vary significantly year-over-year as grants are distributed in lump sums pre-determined by the Hospital's cash flow requirements for major capital redevelopment. Average compensation shown represents total salary and benefits costs divided by number of employees, and does not represent average salary.
Charity Contact
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