IWK Health Centre 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.
D+
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.
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OVERVIEW
About IWK Health Centre Foundation:
IWK Health Centre Foundation is a 1-star charity. It has a D+ in results reporting, meaning it publically reports little information on its grants and their impact. The charity has $86m in funding reserves that can cover grants for over 10 years. Before you give, read Charity Intelligence’s report.
Founded in 1997, IWK Health Centre Foundation (IWK Foundation) fundraises and provides grants to IWK Health Centre in Halifax, Nova Scotia. The main granting areas are research, healthcare programs, patient care areas, and equipment purchases. The charity does not provide a full breakdown of its spending on its programs.
IWK Foundation's research funding goes into two major areas. The Terry Fox PROFYLE is a precision oncology program for young cancer patients. It brings together a team of 50 Canadian leaders in pediatric cancer research to improve the lives of young Canadians with high-risk cancers. IWK Foundation also gives out research grants including Project Grants, Mentored Grants, Matching Grants, Personal Support Grants, and a Post Doc Fellowship.
In F2021, IWK Foundation funded three healthcare programs. IWK’s SeaStar Child and Youth Advocacy Centre provides forensic interviews to improve childhood abuse and trauma. IWK’s therapeutic clown interacts with approximately 30 IWK patients each day. The music therapy program supports patients and their families throughout their healthcare journey.
In F2021, IWK Foundation renovated or maintained three patient care areas. The Neonatal Intensive Care Unit (NICU), which recently underwent a complete transformation, has 38 rooms that offer a family-centred space. The Garron Centre for Child & Adolescent Mental Health is an acute inpatient care facility supporting children and youth. It has private rooms, a classroom, a comfortable common area, an exercise room and an open-concept nursing station. The Joyce Family Kids' Rehabilitation Centre provides an environment that supports family-centred care.
In F2021, IWK Foundation funded equipment purchases including side rails of the Powermatic tables, chest retractors, and wireless smart beds.
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Finances
IWK Health Centre Foundation received $9.8m in donations and special events fundraising revenue in F2021. Administration costs are 16% of revenues (excluding investment income), and fundraising costs are 25% of donations and special events revenues (excluding investment income). This resulted in overhead costs of 41%. For every dollar donated, 59 cents go to IWK Foundation’s programs. This is within Charity Intelligence’s reasonable range for overhead spending.
IWK has funding reserves of $86.5m, that cover charity operations at current levels for 10 years and 9 months.
This charity report is an update that was sent to IWK Health Centre Foundation for review. Changes and edits may be forthcoming.
Updated June 2, 2022 by Lin Zhu.
Financial Review
Fiscal year ending March
|
2021 | 2020 | 2019 |
---|---|---|---|
Administrative costs as % of revenues | 15.7% | 16.6% | 12.3% |
Fundraising costs as % of donations | 24.9% | 23.6% | 21.9% |
Total overhead spending | 40.6% | 40.3% | 34.2% |
Program cost coverage (%) | 1,074.4% | 922.0% | 613.2% |
Summary Financial StatementsAll figures in $000s |
2021 | 2020 | 2019 |
---|---|---|---|
Donations | 3,999 | 3,970 | 5,417 |
Goods in kind | 355 | 809 | 1,047 |
Government funding | 538 | 0 | 0 |
Special events | 5,772 | 6,990 | 7,573 |
Investment income | 15,186 | (5,030) | 1,622 |
Other income | 2,326 | 1,395 | 1,693 |
Total revenues | 28,176 | 8,134 | 17,352 |
Program costs | 8,055 | 7,822 | 12,944 |
Administrative costs | 2,041 | 2,188 | 1,930 |
Fundraising costs | 2,437 | 2,591 | 2,844 |
Total spending | 12,533 | 12,601 | 17,718 |
Cash flow from operations | 15,644 | (4,467) | (365) |
Capital spending | 0 | 0 | 0 |
Funding reserves | 86,540 | 72,120 | 79,376 |
Note: Ci included investment gains (losses) in revenues, affecting revenues by $15.2m in F2021, ($5.0m) in F2020, and $1.6m in F2019. Ci also included the change in payables to IWK Health Center ($1.5m in F2021, $2.9m in F2020, $5.9m in F2019) in the foundation's program costs.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
1 |
$160k - $200k |
1 |
$120k - $160k |
0 |
$80k - $120k |
6 |
$40k - $80k |
2 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2021
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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: 902-470-8085