Hamilton Health Sciences 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.
73%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 73 cents are available for programs.
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OVERVIEW
About Hamilton Health Sciences Foundation:
Hamilton Health Sciences Foundation is a 2-star charity. It is financially transparent and has a C Results Reporting grade which is below average. Its overhead spending is 27% which is within Ci’s reasonable range. Its reserve funds can cover program costs for just over 13 years, which is not within Ci’s reasonable range.
Founded in 1976, Hamilton Health Sciences Foundation (HHSF) funds activities for the Hamilton Health Sciences organization which owns hospitals and care centres in Hamilton. Some hospital locations include the Hamilton General Hospital, the Juravinski Hospital and Cancer Centre, the McMaster Children's Hospital, St. Peter’s Hospital, and Ron Joyce Children's Health Centre. The money HHSF raises pays for clinical care and medical research. Medical technology is very expensive, which means financing equipment can be a challenge. Burn survivors deal with scarring, pain, impaired function and itch, and mental health challenges. These survivors sometimes wait years for surgery due to long waitlists.
The charity granted $16.7m in 2023 and $16.3m in 2024. HHSF funds four main areas: Equipment and Patients, Research and Fellowships, Redevelopment, and Education and Bursaries. The charity does not provide a spending breakdown for 2024, so the following is the charity's breakdown for 2023. The Foundation's 2024 Annual Report was not available at the time of this update, so Ci has used the 2023 Annual Report.
Equipment and Patients got 65% ($10.9m) of spending in 2023. It purchases medical equipment to improve diagnosis and treatments. In 2023, it opened a new Simulation, Resuscitation and Outreach Center (SiROC). In 2023, it reported that it purchased an electrocardiogram (ECG) machine, a Sonosite LX ultrasound, a 3D printer, and seven specialty patient beds.
Research and Fellowships got 26% ($4.4m) of spending in 2023. It funds research to Hamilton Health Sciences to advance medical knowledge in Hamilton. In 2023, it conducted a research study that assessed CAR T-Cell therapy which fights cancer. In 2023, it funded a team of 15 research associates, postdoctoral fellows, research assistants and students to move to a new facility.
Redevelopment got 5% ($877k) of spending in 2023. It funds new care spaces to support patient healing and family bonding. In 2022, it planted a new pollinator garden at St. Peter’s Hospital.
Education and Bursaries got 3% ($487k) of spending in 2023. It funds education and bursaries for health care workers to deliver high-quality care. In 2023, the SiROC provided emergency response training to over 1,000 participants. In 2023, 11 staff attended the Pediatric Oncology Group of Ontario (POGO) Symposium on Childhood Cancer.
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Results and Impact
In 2023, the research team developed and patented one 3D handheld device that deposits even layers of skin tissue to cover and heal deep wounds.
Ci has not calculated HHSF’s impact. This shows as n/r and does not affect the star rating. While Ci highlights these key results, they may not be a complete representation of HHSF’s results and impact.
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Finances
Hamilton Health Sciences Foundation’s audited financial statements do not provide a breakdown between research grants and grants to hospitals, nor do they provide a breakdown between administrative and fundraising costs. Ci referred to its T3010 filings with the CRA Charities
Directorate to report grants, and administrative and fundraising costs.
HHSF received $28.7m in donations in 2024, which is 52% of total revenue. It earned $26.0m in investment income in 2024, which is 47% of total revenue. In 2024, it granted a total of $16.3m, which is 29% of revenue. Its three largest grant recipients were Hamilton Health Sciences ($12.1m), McMaster University ($1.6m), and Autism Alliance of Canada ($351k). HSSF recorded a surplus of $31.4m (57% of revenue) in 2024.
HHSF spent $5.6m on fundraising costs, which is 19% of donations. It spent $2.2m on administrative costs, which is 7% of revenue. HHSF has total overhead spending of 27%. For every dollar donated to HHSF, 73 cents are available to go to the cause. This is within Ci’s reasonable range.
HHSF has $219.9m in reserve funds (cash and investments). It has donor endowments of $21.3m. HHSF’s reserve funds can cover 1302% or just over 13 years of its annual grant costs. This is not within Ci’s reasonable range of three years or less.
In 2024, HHSF had investment returns of 14%. It is 62% invested in equities. Its investment returns have averaged 8% over the last five years.
From 2025 to 2029, HHSF is committed to a total minimum payment of $1.2m for its operating lease regarding premises and equipment.
This report is an update that has been sent to Hamilton Health Sciences Foundation for review. Changes and edits may be forthcoming. Updated on June 4, 2025, by Leah DeFrancesco.
Financial Review
Fiscal year ending December
|
2024 | 2023 | 2022 |
|---|---|---|---|
| Administrative costs as % of revenues | 7.4% | 6.7% | 8.3% |
| Fundraising costs as % of donations | 19.4% | 18.8% | 20.8% |
| Total overhead spending | 26.8% | 25.5% | 29.1% |
| Program cost coverage (%) | 1,302.1% | 1,082.9% | 1,497.9% |
Summary Financial StatementsAll figures in $000s |
2024 | 2023 | 2022 |
|---|---|---|---|
| Donations | 28,656 | 28,688 | 22,825 |
| Lotteries (net) | 769 | 810 | 808 |
| Investment income | 25,997 | 17,456 | (5,925) |
| Total revenues | 55,421 | 46,955 | 17,708 |
| Grants | 16,320 | 16,657 | 10,824 |
| Donated goods exp | 10 | 16 | 115 |
| Administrative costs | 2,172 | 1,976 | 1,967 |
| Fundraising costs | 5,563 | 5,397 | 4,743 |
| Total spending | 24,066 | 24,046 | 17,649 |
| Cash flow from operations | 31,355 | 22,909 | 59 |
| Capital spending | 35 | 20 | 20 |
| Funding reserves | 219,946 | 188,829 | 166,695 |
Note: 1. Ci has presented lottery income as net of expenses, affecting revenue and expenses by ($933k) in 2024, ($954k) in 2023, and ($1.1m) in 2022. 2. Ci accounts for revenue and expenses only when it has been paid or received. As such, grants due to Hamilton Health Sciences affected expenses by ($24k) in 2024, ($448k) in 2023, and ($570k) in 2022. 3. Amortization: Ci removed amortization of $98k in 2024, $111k in 2023, and $125k in 2022 from program, administrative and fundraising costs on a pro-rata basis. 4. Ci reported the value of donated goods used in charitable activities from the charity’s T3010 filing from the CRA, increasing expenses by $115k in 2022.
Salary Information
$350k + |
0 |
$300k - $350k |
1 |
$250k - $300k |
0 |
$200k - $250k |
2 |
$160k - $200k |
1 |
$120k - $160k |
4 |
$80k - $120k |
2 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2024
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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: 905-522-3863