Women's College Hospital Foundation

76 Grenville St
Toronto, ON M5S 1B2
Acting CEO: Chaim Cutler
Board Chair: Ron McEachern

Charitable Reg. #:11930 2628 RR0001

STAR RATING

Ci's Star Rating is calculated based on the following independent metrics:

[Charity Rating: 3/5]

✔+

FINANCIAL TRANSPARENCY

Audited financial statements for current and previous years available on the charity’s website.

B-

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.

64%

CENTS TO THE CAUSE

For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 64 cents are available for programs.



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OVERVIEW

About Women's College Hospital Foundation:

Women’s College Hospital Foundation is a 3-star charity. It has a below average results reporting grade and overhead spending outside of Ci’s reasonable range. It is financially transparent and with current reserves it can over 7.2 years of annual grants. 

Founded in 1984, Women’s College Hospital Foundation (WCHF) is the fundraising arm for Women’s College Hospital (WCH). The hospital was founded in 1883 by Dr. Emily Stowe (Canada’s first female doctor) and aims to improve the quality of healthcare provided to women and marginalized groups. 

WCHF granted $8.3m to Women’s College Hospital in F2023 ($7.4m in F2022). The grants went to Research, Education and Research Chairs (37%), Clinical Program Support (35%), Capital and Equipment (13%), and the Gilgan Centre for Women’s Cancers (13%). The remaining 3% went to WCH’s Institute for Health System Solutions & Virtual Care. 

Women’s College Hospital is an ambulatory hospital, meaning it only provides outpatient care and has no in-patient beds. By focusing on outpatient care, WCH aims to avoid hospital admissions as well as reduce emergency room visits, minimize patient risk of infection by spending less time in the hospital, and reduce costs to the healthcare system. In F2023, the hospital reported 317,520 total ambulatory visits, 54,605 internal medicine visits, 33,251 mental health visits, 29,428 surgery visits, and 13,013 sexual and reproductive health visits.  

Women’s College Hospital Foundation provides research funding for WCH’s Research Institute. The Institute focuses its research on improving care and health outcomes for groups that have been historically underrepresented in research (i.e., women and marginalized groups). In F2023, WCH reports having 1,224 faculty of medicine trainees, and 348 research ethics board studies. WCHF reports that WCH currently has over 60 clinical support programs.  

WCHF supported the launch of Women’s Virtual in November 2019, which is Canada’s first virtual hospital. Women’s Virtual offers multiple programs including an online support group for new moms, web-based education programs for patients managing chronic pain, an app that connects patients with their medical team after surgery, and an online consulting service that connects patients and primary care doctors with specialists for medical advice. In F2023, the hospital reported 138,832 virtual care visits. 

WCHF supports the Peter Gilgan Centre for Women's Cancers. It is a virtual program that supports women affected by cancer. The centre offers access to screening and prevention services. It also offers resources and educational materials for patients. 

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Results and Impact

In F2023, Women’s College Hospital Foundation reports having funded the purchase of four new mammography machines and four ultrasound machines. WCHF reports that, with the new machines, the hospital should be able to run over 6,500 screenings per year, compared to 5,400 prior to the purchase.  

WCH reports that its researchers published 380 peer-reviewed publications in F2023.  

While Ci highlights these key results, they may not be a complete representation of Women's College Hospital Foundation’s results and impact.  This charity is not yet rated for impact (n/r). 

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Finances

Women’s College Hospital Foundation received $16.5m in donations and special events fundraising in F2022. Administrative costs are 26% of total revenue (excluding investment income) and fundraising costs are 10% of donations and special events fundraising. This results in total overhead spending of 36%. Overhead spending increased from 22% in F2022. For every dollar donated to WCHF, 64 cents go to the cause. This is just outside Ci’s reasonable range for overhead spending.  

WCHF had $83.2m in reserve funds in F2023. Reserve funds are the charity’s cash and investments. Of the reserve funds, $36.6m is donor endowed. Excluding donor-endowed funds, the Foundation has enough reserves to cover annual grant spending at the current level for 7.2 years. 

WCHF funding reserves earned investment income of $1.3m in F2023. This represents an annual return on investment of 2%. The average return on investment for the past nine years is 7%. As of F2023, the foundation holds its investments in stocks (32%) and bonds (36%). 

This report is an update that has been sent to Women’s College Hospital Foundation for review. Comments and edits may be forthcoming. 

Updated on August 14, 2023 by Alessandra Castino. 

Financial Review


Financial Ratios

Fiscal year ending March
202320222021
Administrative costs as % of revenues 26.1%17.1%20.3%
Fundraising costs as % of donations 10.0%4.9%5.8%
Total overhead spending 36.1%22.0%26.0%
Program cost coverage (%) 721.6%773.7%1,024.3%

Summary Financial Statements

All figures in $000s
202320222021
Donations 15,32421,29115,594
Special events 1,225869985
Investment income 1,2893,2049,955
Total revenues 17,83725,36426,533
Grants 8,2947,3746,302
Administrative costs 4,3113,7933,362
Fundraising costs 1,6561,088952
Total spending 14,26112,25410,616
Cash flow from operations 3,57613,10915,916
Capital spending 000
Funding reserves 83,24179,05366,069

Note: Ci included grants in the calculation of total expenses, affecting expenses by $8.8m in F2023, $7.8m in F2022, and $6.8m in F2021. Ci adjusted for grants payable, affecting total expenses by ($513k) in F2023, ($381k) in F2022, and ($471k) in F2021. 

Salary Information

Full-time staff: 29

Avg. compensation: $118,976

Top 10 staff salary range:

$350k +
1
$300k - $350k
0
$250k - $300k
1
$200k - $250k
2
$160k - $200k
0
$120k - $160k
5
$80k - $120k
1
$40k - $80k
0
< $40k
0

Information from most recent CRA Charities Directorate filings for F2022

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Comments & Contact

Comments added by the Charity:

The following comments were provided by the charity with respect to a previous profile version. Updated comments may be forthcoming.

WCH Foundation has a powerful mission to support Women's College Hospital as it revolutionizes health for women and for all. Working together with patients, family members, staff, physicians, volunteers, community members and corporations, we raise, manage and invest funds to support the Hospital's current and future priority needs. Most recently we raised over $77 million to help build the new hospital and $12 million to establish the Peter Gilgan Centre for Women's Cancers in partnership with the Canadian Cancer Society.

The majority of the funding reserves (approx. 80%) held by the Foundation are endowed by donors which means the capital must be held in perpetuity and only the income earned on these funds may be granted. The remaining 20% or $10 million available for grants results in a funding reserve calculation of 1.5 years using Charity Intelligence's methodology. It should be noted that within the $10 million are significant funds committed to multi-year support of research and clinical programs which will be granted over the next one to five years in accordance with hospital and donor agreements. When these funds are considered, the funding reserve is $6.8 million or one year.

WCH Foundation is very proud of grant support it provided of over $6 million for the 2017 fiscal year. This funding helped to support the capital redevelopment project, fund seven university affiliated research chairs, and provided needed program and research funding.

Women’s College Hospital Foundation is proudly accredited under Imagine Canada’s Standards Program.  This rigorous peer-reviewed Canada-wide process requires a charity to demonstrate excellence in governance, financial accountability and transparency, fundraising, staff management, and volunteer management. 

Charity Contact

Website: www.womenscollegehospitalfoundation.com
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 416-323-6323

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Charitable Registration Number: 80340 7956 RR0001