St. Mary's General Hospital 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.
90%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 90 cents are available for programs.
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OVERVIEW
About St. Mary's General Hospital Foundation:
St. Mary's General Hospital Foundation is a 1-star, financially transparent charity. It has a below average results reporting score and overhead spending within Ci’s reasonable range. Its reserve funds can cover seventeen years and six months of annual program costs. Before you give, please read Ci’s report.
Founded in 1986, St. Mary’s General Hospital Foundation (SMGHF) raises money for St. Mary’s General Hospital. The Hospital is located in the Kitchener-Waterloo region, Ontario. SMGHF reports that the hospital relies entirely on donor support for funding. It gives hospital grants for three main areas: patient care, equipment purchases, and staff wellbeing.
In F2023, St. Mary’s General Hospital Foundation distributed $2.5m in grants. This is a 56% decrease from the previous year.
Patient care was 64% of grants in F2023. The charity does not report any information about results from these grants.
Equipment purchases were 24% of granting in F2023. The hospital purchased a washer to disinfect medical tools and surgical carts. It also purchased a Pascal Synthesis Laser for eye surgery.
Staff wellbeing was 12% of grants in F2023. The charity does not report any information about results from these grants.
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Results and Impact
Charity Intelligence did not find any quantified outcomes on Saint Mary’s General Hospital Foundation’s website. This may not be a complete representation of SMGHF's results and impact.
This charity is not yet rated on impact (n/r).
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Finances
In F2023, St. Mary’s General Hospital Foundation received $21.2m in donations and special events revenue. Administrative costs were 8% of revenues, less investment income. Fundraising costs were 3% of donations. Total overhead spending was 10%. For every dollar donated, 90 cents are available to go to the cause. This is within Ci’s reasonable range for overhead spending.
In F2023, St. Mary’s General Hospital Foundation distributed $2.5m in grants. These represent 11% of total revenue.
In F2023, SMGHF had $43.1m in funding reserves, a 64% increase from the previous year. These reserves can cover seventeen years and six months of annual granting at the F2023 level.
This charity report is an update that has been sent to St. Mary’s General Hospital Foundation for review. Changes and edits may be forthcoming.
Updated on August 23, 2024 by Stellar Zhang.
Financial Review
Fiscal year ending March
|
2023 | 2022 | 2021 |
|---|---|---|---|
| Administrative costs as % of revenues | 7.6% | 11.4% | 13.7% |
| Fundraising costs as % of donations | 2.9% | 4.1% | 5.6% |
| Total overhead spending | 10.5% | 15.5% | 19.3% |
| Program cost coverage (%) | 1,751.9% | 495.8% | 754.4% |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
|---|---|---|---|
| Donations | 21,170 | 11,550 | 7,693 |
| Investment income | 304 | 716 | 1,680 |
| Total revenues | 21,473 | 12,266 | 9,386 |
| Grants | 2,461 | 5,287 | 2,798 |
| Administrative costs | 1,610 | 1,316 | 1,057 |
| Fundraising costs | 608 | 473 | 432 |
| Total spending | 4,679 | 7,077 | 4,287 |
| Cash flow from operations | 16,794 | 5,189 | 5,099 |
| Capital spending | 17 | 15 | 0 |
| Funding reserves | 43,113 | 26,214 | 21,109 |
Note: Ci included grants in expenses and adjusted it by changes in amount due to the hospital, affecting it by $631k in F2023, ($611k) in F2022, and $743k in F2021. Ci adjusted for deferred revenue within donations, affecting it by $19k in F2023, 148k in F2022, and $215k in F2021.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
1 |
$200k - $250k |
0 |
$160k - $200k |
1 |
$120k - $160k |
2 |
$80k - $120k |
6 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2023
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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: (519) 749 - 6797