Montreal Heart Institute Foundation

5000 Bélanger Street
Montreal, QC H1T 1C8
Executive Director: Mélanie La Couture
Board Chair: Henri-Paul Rousseau

Website: www.icm-mhi.org
Charitable Reg. #: 10183 7896 RR0001
Sector: Health - Hospital Foundation
Operating Charity

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 available only upon request [ Audited financial statement for most recent year ]

Program Cost Coverage

Funding Reserves Program Costs

Spending Breakdown

Full-time staff #18

Avg. Compensation $83,275

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 0
$120k - $160k 1
$80k - $120k 3
$40k - $80k 6
< $40k 0
Information from most recent CRA Charities Directorate filings for F2015

About Montreal Heart Institute Foundation:

Founded in 1977, Montreal Heart Institute Foundation raises and distributes funds to support research, care, teaching, prevention, rehabilitation and to evaluate new technologies at the Montreal Heart Institute (MHI). The Foundation aims to fund innovative projects with tangible results, with a focus on less invasive techniques and better preventive measures. In F2015, 59% of the Foundation's funding was allocated to research at MHI, 30% was allocated to technological innovation, 5% was allocated to prevention, 3% was allocated to teaching, and 3% allocated to other priority projects.

In F2015, MHI acquired a Rotem® thromboelastometry system, which is used to analyze patients' blood to determine the faulty component and to provide the right replacement blood product quickly. This allowed MHI to reduce the amount of blood products needed in operating rooms by 30%, saving more than $930,000 a year.

Montreal HeartInstitute's EPIC Centre is a centre for preventative medicine and physical activity. In F2015, 7,500 visitors made 300,000 visits to the centre, spending 250,000 hours working out in MHI's 138 courses.

In F2015, a team at MHI discovered that a gene mutation could predict coronary patients' response to dalcetrapib, a new drug that increases HDL (good cholesterol) levels. Under its teaching arm, MHI delivered over 25 lectures in 20 hospitals over two years, with a 30% increase in the number of participants.

Financial Review:

Montreal Heart Institute Foundation is a large charity, with donations of $8.6m in F2015. 46%of its revenues is generated from its investment income, at $11.5m in F2015. The Foundation's administrative costs are 14% of revenues and its fundraising costs are 25% of donations. For every $1 donated to the charity, 61 cents is put towards its programs, falling just within Ci's reasonable range. The Foundation's funding reserves of $133m include donor-endowed funds of $7.7m. This results in an extremely high program cost coverage ratio, excluding donor-endowed funds, of 1,808%. This means that it can cover over 18 years of its annual programs using its existing reserves.

This charity report is an update that is being reviewed by Montreal Heart Institute Foundation. Changes and edits may be forthcoming.

Updated on June 14, 2016 by Lynn Tay.

Financial Ratios

Fiscal year ending March
201520142013
Administrative costs as % of revenues 13.8%12.9%10.5%
Fundraising costs as % of donations 24.8%21.7%21.0%
Program cost coverage (%) 1,818.3%1,338.1%1,244.8%

Summary Financial Statements

All figures in $000s
201520142013
Donations 8,5529,2569,075
Special events 4,8094,2073,943
Investment income 11,54814,0118,463
Total revenues 24,90927,47421,481
Grants 7,3309,0728,657
Administrative costs 1,8461,7351,364
Fundraising costs 3,3152,9272,729
Cash flow from operations 12,41713,7408,730
Funding reserves 133,288121,388107,763

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