IWK Health Centre Foundation

B220 - 5855 Spring Garden Road
Halifax, NS B3H 4S2
President & CEO: Jennifer Gillivan
Board Chair: Ivan Toner

Website: www.iwkfoundation.org
Charitable Reg. #: 86755 8090 RR0001
Sector: Health
Public Foundation

Social Results Reporting

Grade: B-

The grade is based on the charity's public reporting of the work it does and the results it achieves.

Financial Transparency

Audited financial statements for current and previous years available on the charity's website [ Audited financial statement for most recent year ]

Program Cost Coverage

Funding Reserves Program Costs

Spending Breakdown

Full-time staff #34

Avg. Compensation $69,638

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 1
$160k - $200k 0
$120k - $160k 0
$80k - $120k 6
$40k - $80k 3
< $40k 0
Information from most recent CRA Charities Directorate filings for F2014

About IWK Health Centre Foundation:

The IWK Health Centre Foundation (IWKF) is the fundraising arm of the IWK Health Centre in Halifax. It works in partnership with the IWK Health Centre to support their vision of providing quality care to women, children, youth and families in the Maritime Provinces and beyond.

In F2014, IWKF granted nearly $15m to the IWK Health Centre. Of this grant, $11.7m was allocated to a specified and restricted fund, supporting areas of greatest need at the IWK Health Centre. These areas include neonatal and pediatric intensive care, women's health, and mental health services for youth. The remaining $3.3m supported program initiatives, priority equipment purchases, and research at the IWK Health Centre. In the spring of 2014, the Garron Centre for Child & Adolescent Mental Health was opened at IWK Health Centre. The $10m state-of-the-art facility serves critically ill young people from Nova Scotia, P.E.I. and New Brunswick.

Financial Review:

In F2014, the IWKF's fundraising and administrative costs were 26% of revenues less investment income. IWKF had funding reserves of $67.1m, which cover annual grants 4.5 times. Of this funding reserve, 77% is held in an endowment fund, though it is unspecified whether this fund is donor or board restricted.

This charity report is an update that is being reviewed by the foundation. Changes and edits may be forthcoming.

Updated on August 13, 2015 by Rohan Bhargava

Financial Ratios

Fiscal year ending March
201420132012
Fundraising & admin costs as % of revenues 25.6%26.8%24.7%
Program cost coverage (%) 448.5%418.1%300.4%

Summary Financial Statements

All figures in $000s
201420132012
Donations 11,76310,25711,162
Special events 6,8206,5396,484
Investment income 3,0531,4181,614
Other income 1,4401,4521,408
Total revenues 23,07719,66720,668
Grants 14,96214,08616,311
Fundraising & administrative costs 5,1174,8864,700
Cash flow from operations 2,997695(344)
Funding reserves 67,10158,88749,006
Note: Ci removed unrealized gain (loss) on investment of $5.2m in F2014, $2.8m in F2013 and ($982k) in F2012 from revenue. The foundation does not provide a break-up of the fundraising and administrative costs.

Comments added by the Charity:

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