IWK Health Centre Foundation

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

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

Donor Accountability

Grade: C-

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 ]

Need for Funding

donor
endowed
Funding Reserves Program Costs

Spending Breakdown

Cents to The Cause

95¢
75¢
avg
65¢
50¢
2014 2015 2016
For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #34

Avg. Compensation $81,751

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 1
$160k - $200k 0
$120k - $160k 1
$80k - $120k 7
$40k - $80k 1
< $40k 0
Information from most recent CRA Charities Directorate filings for F2016

About IWK Health Centre Foundation:

Established in 1997, IWK Health Centre Foundation is the fundraising arm of IWK Health Centre in Halifax, Nova Scotia. It works in partnership with IWK Health Centre to support its vision of providing quality care to women, children, youth and families in the Maritime Provinces and beyond. 

In F2016, IWK Health Centre Foundation granted $14m to IWK Centre. Of this grant, $11.4m was allocated to a specified and restricted fund, supporting areas of greatest need at IWK Health Centre. These areas include neonatal and paediatric intensive care, women's health, and mental health services for youth. Research and fellowships received $1.8m of the grant, while the remaining $911k was allocated to priority equipment. 

In February 2017, IWK Health Centre 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. During the campaign, IWK Health Centre built the Garron Centre for Child & Adolescent Mental Health and the IWK Kids’ Rehabilitation Centre. 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.

Financial Review:

IWK Health Centre Foundation is a big-cap charity with $16.8m in donations and special events revenue in F2016. Administration and fundraising costs were 27% of revenues. As such, for every $1 donated, 73 cents went to the cause. This falls within Charity Intelligence’s reasonable range of overhead spending. The foundation has funding reserves of $71.6m, including $40.1m of donor-endowed funds. Excluding these funds, annual program costs can be covered by the charity 2.6 times.

This charity report is an update that is currently being reviewed by IWK Health Centre Foundation. Changes and edits may be forthcoming.

Updated June 5, 2017 by Juliana Badovinac.

Financial Ratios

Fiscal year ending March
201620152014
Fundraising & admin costs as % of revenues 27.2%24.7%25.6%
Program cost coverage (%) 512.3%563.7%448.5%

Summary Financial Statements

All figures in $000s
201620152014
Donations 9,92611,33511,763
Special events 6,9237,0466,820
Investment income (1,940)3,6458,280
Other income 1,5521,3041,440
Total revenues 16,46023,33028,304
Program costs 000
Grants 13,97113,09814,962
Fundraising & administrative costs 4,9984,8555,117
Cash flow from operations (2,508)5,3778,224
Funding reserves 71,57273,83767,101
Note: The foundation does not provide a break-down of the fundraising and administrative costs.

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