Health Care Foundation of St. John's
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.
C
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.
76%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 76 cents are available for programs.
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OVERVIEW
About Health Care Foundation of St. John's:
Health Care Foundation of St. John’s is a 2-star charity with best practices in financial transparency. It has a C results reporting grade which is below average. For every dollar donated to the charity, 76 cents go to the cause. This is within Ci’s reasonable range for overhead spending.
Founded in 2002, Health Care Foundation of St. John’s (HCFSJ) raises funds to improve adult healthcare in Newfoundland and Labrador. It reports that one in three people in the province will be impacted by cardiac illness. The charity gives grants to nine hospitals and health centers within the Eastern Regional Health Authority. In F2023, the charity granted $3.5m to Eastern Health. HCFSJ invests in facility improvements, education and research grants, patient comfort initiatives, and advanced medical equipment. In F2023, Health Care Foundation of St. John’s celebrated its 20th anniversary.
Health Care Foundation of St. John’s spent $2.8m on funding for equipment and technology in F2023, which represents 83% of total grant spending. In F2023, the foundation funded the development of a fourth new catheterization lab, two cuddle beds for palliative care, one new EMG machine, and more. The Comfort in Care program grants Eastern Health staff funding to improve patients' hospital experience, with 82 grants totaling $100k awarded in F2023.
HCFSJ spent $400k funding for education and research in F2023, which represents 13% of total grant spending. The charity currently supports research related to thrombosis, medical technology innovation, and translational genomics. In Spring 2023, its Moving Lives Forward program gave $45k in scholarships to people in mental health and addiction programs to help further their educations. It also gave 25 grants totaling $15k to nurses for training and certification.
The foundation spent $100k on hospital renovations in F2023, which represents 4% of total grant spending. As of F2023, 12 of 17 Integrated Operating Suites have been renovated from traditional to state-of-the-art rooms.
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Results and Impact
Charity Intelligence did not find any quantified outcomes on Health Care Foundation of St. John’s website. This may not be a complete representation of HCFSJ’s results and impact.
This charity is not yet rated on impact (n/r).
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Finances
Health Care Foundation of St. John’s received $5.0m in Canadian donations and special events revenue in F2023. HCFSJ also received $1.6m net lottery revenue in F2023. The charity earned a 52% margin on its lottery in F2023. For every dollar spent on lottery tickets, 52 cents go to the charity. In F2023, the foundation did not receive any government funding, compared to $22k in both F2022 and F2021. Health Care Foundation of St. John’s spent $3.1m on grants in F2023, which is 44% of revenues.
Administrative costs are 17% of total revenue (excluding investment income) and fundraising costs are 7% of donations. This results in total overhead spending of 24%. For every dollar donated, 76 cents are available to go to the cause. This is within Ci’s reasonable range of 65 to 95 cents for overhead spending.
In F2023, Health Care Foundation of St. John’s had a surplus of $1.9m (27% of total revenue), compared to $69k in F2022 and ($694k) in F2021. HCFSJ has $16.3m in reserve funds, meaning the charity can cover around 4 years and 7 months of annual grants with its current reserves.
HCFSJ reports annual commitments for buying two building lots and making progress payments for the Hospital Home Lottery Show in the amounts of $850k in F2024, $450k in F2025, and $450k in F2026.
This charity report is an update that was sent for review to Health Care Foundation of St. John's. Changes and edits may be forthcoming.
Updated on June 21, 2024 by Alexia Tudose.
Financial Review
Fiscal year ending March
|
2023 | 2022 | 2021 |
---|---|---|---|
Administrative costs as % of revenues | 16.6% | 27.6% | 16.5% |
Fundraising costs as % of donations | 7.2% | 5.7% | 7.4% |
Total overhead spending | 23.8% | 33.3% | 23.9% |
Program cost coverage (%) | 517.8% | 481.8% | 366.9% |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
---|---|---|---|
Donations | 4,401 | 1,988 | 2,385 |
Goods in kind | 44 | 32 | 39 |
Government funding | 0 | 22 | 22 |
Lotteries (net) | 1,645 | 1,480 | 1,098 |
Special events | 628 | 326 | 366 |
Investment income | 356 | 89 | 168 |
Total revenues | 7,074 | 3,938 | 4,078 |
Grants | 3,146 | 2,664 | 3,594 |
Administrative costs | 1,258 | 1,073 | 975 |
Fundraising costs | 360 | 132 | 203 |
Total spending | 4,764 | 3,868 | 4,772 |
Cash flow from operations | 2,310 | 69 | (694) |
Capital spending | 0 | 3 | 1 |
Funding reserves | 16,290 | 12,837 | 13,189 |
Note: Ci excluded grants payable from grants to show actual amounts paid during the year. This affected total expenses by ($190k) in F2023, ($161k) in F2022 and $92k in F2021. Ci reported the value of donated goods, including prizes for fundraising events, from HCFSJ’s financial notes. This affected total revenues and expenses by $44k in F2023, $32k in F2022 and $39k in F2021. To report on a cash basis, Ci adjusted for deferred revenue in “other revenue” affecting total revenues by $858k in F2023, $41k in F2022, and $2.0m in F2021.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
1 |
$120k - $160k |
0 |
$80k - $120k |
2 |
$40k - $80k |
4 |
< $40k |
1 |
Information from most recent CRA Charities Directorate filings for F2023
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Comments & Contact
Comments added by the Charity:
Charity Contact
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