St. Boniface 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.
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.
74%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 74 cents are available for programs.
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OVERVIEW
About St. Boniface Hospital Foundation:
St. Boniface Hospital Foundation is a 2-star charity with reasonable overhead spending. The charity has a below-average results reporting grade and large funding reserves that can cover its grants for almost 7 years. Before you give, read Charity Intelligence's report.
Founded in 1971, St. Boniface Hospital Foundation (SBHF) raises money to fund research and to improve the quality of healthcare provided at St. Boniface Hospital in Winnipeg, Manitoba. The hospital has 513 beds and had more than 28,000 admissions in F2020. In F2021, SBHF granted $8.0m (including grants payable from the prior year) to St. Boniface Hospital, supporting areas including patient care, research, and cardiac services. The remaining $800k in grants were allocated to other major gifts.
In F2021, SBHF funded the purchase of two Huntleigh hand-held Doppler ultrasound machines. The new ultrasound machines have a visual output and are easier, faster, and more reliable than older ones. St. Boniface Hospital launched a video diaries app, vCreate Diaries, for the neonatal intensive care unit in F2021. St. Boniface Hospital cares for over 600 sick or premature babies each year. This app allows families to stay connected to their child when they can’t be in the hospital. St. Boniface Hospital is the first hospital in Western Canada to use the technology.
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Results and Impact
At St. Boniface Hospital, Dr. Sanjiv Dhingra and his team of researchers in the Cardiac Regeneration and Tissue Engineering Program synthesized an electrode (TTO MXene) that could be used to power devices like pacemakers for up to 20 years. Currently, the lifespan of a pacemaker battery is as short as three to seven years. The team also discovered that MXene nano-materials could prevent those with heart transplants from having to take anti-rejection drugs. The team filed three US patents for this research in F2021 that are now approved.
While Ci Highlights these key results, they may not be a complete representation of St. Boniface Hospital Foundation’s results and impact.
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Finances
St. Boniface Hospital Foundation received donations of $5.3m in F2021. The charity received $4.7m in net income from lotteries, representing 23% of total revenues. Administrative costs are 7% of revenues and fundraising costs are 20% of donations. For every dollar donated, 74 cents go to the cause, which is within Ci’s reasonable range for overhead spending. SBHF has $96.1m in funding reserves of which $54.1m is donor-endowed. Excluding donor-endowed funds, the foundation could grant at the F2021 level for almost 7 years using reserves.
This charity profile is an update which has been sent to St. Boniface Hospital Foundation for review. Changes and edits may be forthcoming.
Updated on June 15, 2022 by Emily Downing.
Financial Review
Fiscal year ending December
|
2021 | 2020 | 2019 |
|---|---|---|---|
| Administrative costs as % of revenues | 6.6% | 6.5% | 9.5% |
| Fundraising costs as % of donations | 19.6% | 13.6% | 19.3% |
| Total overhead spending | 26.2% | 20.1% | 28.8% |
| Program cost coverage (%) | 688.7% | 825.2% | 1,164.5% |
Summary Financial StatementsAll figures in $000s |
2021 | 2020 | 2019 |
|---|---|---|---|
| Donations | 5,261 | 6,261 | 5,167 |
| Government funding | 173 | 248 | 0 |
| Lotteries (net) | 4,740 | 3,573 | 2,699 |
| Investment income | 10,399 | 3,927 | 8,204 |
| Total revenues | 20,573 | 14,009 | 16,070 |
| Grants | 8,808 | 6,748 | 4,936 |
| Administrative costs | 675 | 656 | 745 |
| Fundraising costs | 1,030 | 850 | 999 |
| Total spending | 10,513 | 8,255 | 6,680 |
| Cash flow from operations | 10,060 | 5,754 | 9,389 |
| Capital spending | 78 | 23 | 20 |
| Funding reserves | 96,142 | 83,931 | 76,700 |
Note: Income from lotteries is presented net of expenses. Ci removed amortization from administrative and fundraising costs pro-rata. Ci adjusted for changes in grants payable, affecting expenses by $962k in F2021, $873k in F2020, and ($739k) in F2019.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
2 |
$120k - $160k |
3 |
$80k - $120k |
2 |
$40k - $80k |
3 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2020
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Comments & Contact
Comments added by the Charity:
Charity Contact
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Tel: 204-237-2067