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.
71%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 71 cents are available for programs.
My anchor
OVERVIEW
About Hamilton Health Sciences Foundation:
Hamilton Health Sciences Foundation is a 2-star charity. It has a C+ results reporting grade, which is below average. For every dollar donated to the charity, 71 cents are available to go to the cause.
Founded in 1976, Hamilton Health Sciences Foundation (HHSF) raises money to fund activities at Hamilton Health Sciences to five local hospitals. Hamilton Health Sciences supports 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. According to the foundation, HHSF serves a region of 2.3 million people across south-central Ontario. Hamilton Health Sciences Foundation reported four programs on its annual report: Equipment and Patients, Research and Fellowships, Redevelopment.
Equipment and Patients: In F2022, HHSF spent $6.2m on its Equipment and Patients program. This represents 55% of total program spending. In F2022 175,000 patients visited Hamilton Health Sciences emergency departments. Hamilton Health Sciences reported 180,000 virtual patient visits in 2022. McMaster Children’s Hospital served over 188,000 youth patients in 2022. Ron Joyce Children’s Health Centre reported 88,000 patients visited the hospital in 2022. Over 4,000 patients visited St. Peter’s Hospital in 2022. The charity reported that it purchased a new portable ultrasound unit, an ECMO simulator, and a new CyberKnife Radiation Unit at Juravinski Hospital. HHSF reports that CyberKnife will treat 350 patients each year.
Research and Fellowships: In F2022, HHSF spent $3.3m on its Research and Fellowships program. This represents 29% of total program spending. Hamilton Health Sciences Foundation provides funding to Hamilton Health Sciences, which is in partnership with McMaster University, to fund research. The charity reports that Hamilton Health Sciences is currently involved in 260 clinical trials.
Redevelopment: In F2022, HHSF spent $1.4m on its Redevelopment program. This represents 12% of total program spend. Hamilton Health Sciences Foundation provides funding for structural improvements at local hospitals. The charity planted a new pollinator garden at St. Peter’s Hospital in F2022.
My anchor
Results and Impact
In F2022, a rehabilitation centre team attended a brain injury conference in Ireland. The team discovered that 15% of people diagnosed with a concussion will experience chronic symptoms.
The Hamilton Health Sciences Hospital network is the seventh best research hospital in Canada, according to researchinfosource.com.
While Charity Intelligence highlights these key results, they may not be a complete representation of Hamilton Health Sciences Foundation’s results and impact.
This charity is not yet rated on impact (n/r).
My anchor
Finances
Hamilton Health Sciences Foundation received $22.8m in donations of $22.8m in F2022. The charity received $808k in lottery income, less expenses. Administrative and fundraising costs are 29% of revenue (excluding investment income). For every dollar donated, 71 cents are available to go to the cause, which is within Ci’s reasonable range for overhead spend.
HHSF has $165.7m in reserve funds. Of this, $18.2m is externally endowed. Excluding externally endowed funds, the charity’s reserve funds can cover 1488% or 14 years and 11 months of its annual program costs. This is an increase since F2021, where the charity could cover 1255%, or 12.5 years of its annual program costs.
Charity Intelligence sent an update of this report to Hamilton Health Sciences Foundation for review. Changes and edits may be forthcoming.
Updated on June 2, 2023 by Liam Chapleau.
Financial Review
Fiscal year ending December
|
2022 | 2021 | 2020 |
|---|---|---|---|
| Fundraising & admin costs as % of revenues | 29.4% | 25.7% | 34.6% |
| Total overhead spending | 29.4% | 25.7% | 34.6% |
| Program cost coverage (%) | 987.0% | 750.1% | 607.5% |
Summary Financial StatementsAll figures in $000s |
2022 | 2021 | 2020 |
|---|---|---|---|
| Donations | 22,825 | 23,823 | 18,111 |
| Lotteries (net) | 808 | 807 | 645 |
| Investment income | (5,925) | 15,521 | 8,490 |
| Total revenues | 17,708 | 40,151 | 27,247 |
| Program costs | 0 | 0 | 0 |
| Grants | 11,394 | 13,818 | 13,554 |
| Fundraising & administrative costs | 6,709 | 6,132 | 6,272 |
| Total spending | 18,103 | 19,950 | 19,826 |
| Cash flow from operations | (395) | 20,200 | 7,420 |
| Capital spending | 20 | 44 | 7 |
| Funding reserves | 165,718 | 165,590 | 145,609 |
Note: Ci has presented lottery income as net of expenses, affecting revenue and expenses by ($1.1m) in F2022, ($1.1m) in F2021, and ($726k) in F2020. Ci does not include amortization in expenses, affecting expenses by ($125k) in F2022, ($123k) in F2021, and ($114k) in F2020. Gross funding reserves include cash and equivalents, investments, and mortgage receivable less funds held in trust – due to Hamilton Health Sciences. Ci accounts for revenue and expenses only when it has been paid or received. As such, grants due to health sciences was impacted by ($570.0k) in F2022, ($1.2m) in F2021, and $1.7m in F2022.
Salary Information
$350k + |
1 |
$300k - $350k |
0 |
$250k - $300k |
1 |
$200k - $250k |
2 |
$160k - $200k |
0 |
$120k - $160k |
3 |
$80k - $120k |
3 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2021
My anchor
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