Prince County Hospital Foundation
Summerside, PE C1N 2A9
Managing Director: Heather Matheson
Board President: Gord Coffin
Charitable Reg. #: 89352 6731 RR0001
Grade: CThe grade is based on the charity's public reporting of the work it does and the results it achieves.
Need for Funding
Full-time staff #4
Avg. Compensation $50,665
Top 10 Staff Salary Range
|$300k - $350k||0|
|$250k - $300k||0|
|$200k - $250k||0|
|$160k - $200k||0|
|$120k - $160k||0|
|$80k - $120k||0|
|$40k - $80k||4|
About Prince County Hospital Foundation:
Founded in 1993, the Prince County Hospital Foundation (PCHF) raises and manages funds directed to purchasing priority medical equipment for the Prince County Hospital in Summerside, Prince Edward Island. The hospital is the second largest in the province.
In Prince Edward Island, there is no government funding for hospital equipment costing over $1,000. Prince County Hospital Foundation aims to fill this gap by fundraising for all essential equipment for the hospital, including ceiling lifts, ultrasound machines, defibrillators, and epidural pumps. The PCHF also fundraises for certain essential non-medical needs like wheelchairs, medical refrigerators and a safety watch system for wandering patients.
In F2016, PCHF exceeded its goal of raising $887,800, and was able to purchase all its equipment needs for the year, including a Hemodialysis Machine, a Portable Fluoroscopy Unit for Diagnostic Imaging, and a Vital Signs Machine. In F2017, PCHF is aiming to raise $2,524,363 to purchase all its equipment needs.
In addition to equipment purchases, the PCHF also aims to promote awareness and generate positive messages for the hospital.
Prince County Hospital Foundation is a medium-sized charity with $3.6m in donations in F2016. Its administrative costs were 7% of revenues, and its fundraising costs were 5% of donations. For every dollar donated, 88 cents go towards PCHF’s programs. PCHF has funding reserves of $24m, resulting in a program cost coverage ratio of 3865%. This means that the PCHF can fund just under 39 years of its annual program costs using its existing reserves, indicating an underutilization of existing funds.
PCHF maintains an endowment fund but does not disclose the breakdown of donor-endowed and board-endowed funds. As a result, Ci assumed the fund was entirely board-endowed for its calculations. It should also be noted that in F2016, PCHF’s program spending dropped from $2.1m in F2015 to $601k, resulting in an inflated program cost coverage ratio. If PCHF were to spend the $2.5m they project to spend in F2017 on program costs, its reserves would be able to fund 9.5 years of program costs.
This report is an update and is currently under review by Prince County Hospital Foundation. Changes and edits may be forthcoming.
Updated June 22, 2017 by Kevin Silberberg.
Financial RatiosFiscal year ending December
|Administrative costs as % of revenues||6.9%||13.2%||18.6%|
|Fundraising costs as % of donations||4.9%||7.3%||7.6%|
|Program cost coverage (%)||3,864.6%||965.0%||2,071.0%|
Summary Financial StatementsAll figures in $s
|Fees for service||1,806||1,513||2,011|
|Cash flow from operations||3,450,731||623,520||1,798,279|