Halifax, NS B3H 4S2
President & CEO: Jennifer Gillivan
Board Chair: Steven Moore
Charitable Reg. #: 86755 8090 RR0001
Grade: CThe grade is based on the charity's public reporting of the work it does and the results it achieves.
Need for Funding
Cents to the Cause
Full-time staff #30
Avg. Compensation $65,141
Top 10 Staff Salary Range
|$300k - $350k||0|
|$250k - $300k||0|
|$200k - $250k||0|
|$160k - $200k||0|
|$120k - $160k||1|
|$80k - $120k||3|
|$40k - $80k||6|
About IWK Foundation:
Founded in 1997, IWK Health Centre Foundation is the fundraising arm of IWK Health Centre in Halifax, Nova Scotia. Donations directly support priority equipment and fund programs, research and new facilities at IWK Health. IWK Foundation’s mission is to champion excellence in health care for women and children in the Maritimes.
In F2016, IWK Health Centre Foundation granted $13.7m to IWK Centre. Of this grant, most funded the opening of IWK Kids Rehab Centre for children and youth with physical disabilities, acquired brain injuries, and spinal cord injuries. In F2016, this rehab
In May 2014, IWK Foundation supported the opening of the Garron Centre for Child & Adolescent Mental Health, a $10m state-of-the-art facility with 16 beds for youth with severe mental health. This new space provides warm and cozy care, a music room, an exercise room and open space, with hospital rooms able to accommodate parents. This new facility has lowered rates of aggression.
In February 2017, IWK Foundation concluded its ‘Breakthroughs in Care’ campaign, which raised $51.2m to redesign and create new space at IWK Health Centre for mental health, critical care, rehabilitation, women’s health, and research. The foundation reports that new Intensive Care Units, a redeveloped Early Labour and Assessment Unit and an integrated Operating Room for Women’s Health will be opened in the coming years.
IWK Health Centre Foundation is a big-cap charity with $16.8m in donations and special events revenue in F2016. Administration costs are 18.4% of total revenues and fundraising costs are 9.6% of donations. As such, for every $1 donated, 72 cents went to the cause. This falls within Charity Intelligence’s reasonable range of overhead spending.
IWK has built up funding reserves of $71.6m, that cover grants at current levels for 5 years. Donors should note that these funding reserves reflect the recent campaign and will be drawn down to fund special projects in the short-term. Investment returns on these funds declined 3% reflecting stock market declines in F2016 with unrealized losses of $5.5m, offset by investment income of $3.6m.
This charity report is an update that is currently being reviewed by IWK Health Centre Foundation. Charity Intelligence has spoken with IWK Foundation management and has made edits raising the donor accountability grade and changing the recognizing of grants to IWK Health (see financial notes below).
Updated June 5,
Financial RatiosFiscal year ending March
|Administrative costs as % of revenues||18.4%||17.0%||16.4%|
|Fundraising costs as % of donations||9.6%||8.3%||9.9%|
|Program cost coverage (%)||522.2%||627.4%||448.8%|
Summary Financial StatementsAll figures in $000s
|Cash flow from operations||(2,243)||6,706||8,236|