Oakville 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.
59%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 59 cents are available for programs.
My anchor
OVERVIEW
About Oakville Hospital Foundation:
Founded in 1991, Oakville Hospital Foundation (OHF) raises funds for Oakville Trafalgar Memorial Hospital (OTMH), part of the Halton Healthcare system. In F2021, OHF reported grants of $7.5m, including $238k in unpaid grant amounts at year end. Its grant funding goes entirely to Halton Healthcare Services Corporation.
In F2021, Oakville Hospital Foundation allocated 52% of grants to medical equipment, 34% to emergency response programs, and 14% to special projects funded by donor advised funds. OHF launched a new covid-19 relief fund in F2021 as part of its emergency programs. In response to the covid-19 pandemic, Oakville Hospital Foundation helped to establish a new field hospital at OTMH. Since opening in December 2020, the 40-bed field hospital has cared for more than 700 patients.
OHF’s website lists a number of other projects funded in F2021. These include mental health programs, maternal and child health, home dialysis, microtomy, and tissue processing. The charity does not report how these programs are allocated between medical equipment and special projects.
My anchor
Results and Impact
Oakville Hospital Foundation states that it helped to administer more than 50,000 covid-19 vaccines in F2021. The charity does not report on other outputs or outcomes for its programs in the most recent fiscal year.
While Ci highlights these key results, they may not be a complete representation of Oakville Hospital Foundation’s results and impact. This charity is not yet rated on impact (n/r).
My anchor
Finances
Oakville Hospital Foundation received donations of $8.6m in F2021. Combined administrative and fundraising costs are 41% of revenues (less investment income). For every dollar donated to the charity, 59 cents go to the cause. This is outside of Ci’s reasonable range for overhead spending. OHF was previously within this reasonable range in F2020. However, its donations declined by 22% in F2021, resulting in a higher overhead ratio.
OHF has total funding reserves of $26.1m, of which $14.3m is donor-endowed. Excluding donor-endowed funds, OHF can cover around 2.1 years of annual grant costs.
The charity’s funding reserves contributed $3.6m in investment income in F2021, at an estimated rate of return of 19% (compared to an investment loss of $94k at a return of -0.5% in F2020). Over the last eight years, Ci estimates that OHF’s investment returns have averaged 6%.
According to its most recent CRA filing in F2020, Oakville Hospital Foundation uses external fundraisers. It paid external fundraisers $250k to raise $1.3m in F2020, at a cost of $0.19 per dollar raised.
Charity Intelligence has sent this update to Oakville Hospital Foundation for review. Changes and edits may be forthcoming.
Updated on July 27, 2021 by Eric Zhao.
Financial Review
Fiscal year ending March
|
2021 | 2020 | 2019 |
|---|---|---|---|
| Fundraising & admin costs as % of revenues | 41.1% | 32.3% | 31.5% |
| Total overhead spending | 41.1% | 32.3% | 31.5% |
| Program cost coverage (%) | 212.7% | 259.3% | 201.4% |
Summary Financial StatementsAll figures in $000s |
2021 | 2020 | 2019 |
|---|---|---|---|
| Donations | 8,628 | 11,094 | 10,356 |
| Investment income | 3,560 | (94) | 1,227 |
| Other income | 29 | 0 | 0 |
| Total revenues | 12,217 | 11,000 | 11,583 |
| Grants | 6,261 | 5,358 | 6,109 |
| Donor-designated donations | 1,044 | 1,016 | 1,024 |
| Fundraising & administrative costs | 3,556 | 3,584 | 3,257 |
| Total spending | 10,861 | 9,958 | 10,390 |
| Cash flow from operations | 1,356 | 1,042 | 1,193 |
| Capital spending | 0 | 0 | 0 |
| Funding reserves | 26,056 | 24,564 | 23,522 |
Note: Ci included investment income, affecting revenues by $3.6m in F2021, ($94k) in F2020, and $1.2m in F2019. Ci reported capital and emergency response grants as grants, and reported donor designated funds as donor advised grants. To report on a cash basis, Ci adjusted grants by changes in amounts due to Halton Healthcare Services Corporation. This affected expenses by ($238k) in F2021, ($180k) in F2020, and ($142k) in F2019.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
1 |
$120k - $160k |
2 |
$80k - $120k |
7 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2020
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: 905-338-4642