Princess Margaret Cancer Foundation
Toronto, ON M5G 2M9
President & CEO: Paul Alofs
Board Chair: Glenn Ives
Charitable Reg. #: 88900 7597 RR0001
Grade: A-The 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 #75
Avg. Compensation $127,063
Top 10 Staff Salary Range
|$300k - $350k||2|
|$250k - $300k||3|
|$200k - $250k||0|
|$160k - $200k||3|
|$120k - $160k||0|
|$80k - $120k||0|
|$40k - $80k||0|
About Princess Margaret Cancer Foundation:
Founded in 1982, Princess Margaret Cancer Foundation, formerly known as Princess Margaret Hospital Foundation, is the fundraising arm of Princess Margaret Cancer Centre. Its focus is to conquer cancer in our lifetime. Princess Margaret claims it is a top 5 cancer research center in terms of the percentage of papers published in high-impact oncology journals and the percentage of highly cited papers.
In 2012, Princess Margaret Cancer Foundation launched the Billion Dollar Challenge, the largest fundraising campaign in the history of Canadian healthcare. The campaign targeted four areas of Personalized Cancer Medicine: detecting cancers earlier, diagnosing cancers more precisely, targeting treatment more specifically, and providing comprehensive physical and emotional support. In January 2017, Princess Margaret Cancer Foundation exceeded its goal and reported $1.05B in funds raised; $532m of which were raised via philanthropy and $520m as research grants.
In F2016, Princess Margaret Cancer Foundation granted $96.5m to Princess Margaret Cancer Centre ($2.3m of which were grants payable, resulting in a cash transfer of $94.1m). Of the $96.5m granted, 88% was allocated to research, education and patient care. The foundation allocated the remaining grants to equipment (8%) and building (3%). In 2015, Princess Margaret Cancer Centre published 1,185 research papers, gave 34,851 chemotherapy treatments, and cared for 18,033 new cancer patients.
Princess Margaret Cancer Centre is the only research and comprehensive treatment centre devoted exclusively to cancer in Canada. It is also the only major cancer research centre not participating in the Canadian Cancer Research Alliance (CCRA). The CCRA operates under the belief that through effective collaboration, Canadian cancer research funding organizations can maximize their collective impact on cancer control and accelerate discovery for the ultimate benefit of Canadians affected by cancer.
Princess Margaret Cancer Foundation is a Major 100 charity, receiving $68.7m in donations in F2016. Lotteries and special events brought in another $24.8m and $27.1m, respectively. Administrative costs were 2% of revenues and fundraising costs were 26% of donations. As such, for every $1 donated, 72 cents go the cause. This falls within Charity Intelligence’s reasonable range of overhead spending.
The foundation had funding reserves of $559m in F2016, including $124m of donor-endowed funds. Total funding reserves can cover annual grants for 5.9 years (4.9 years excluding donor-endowed funds). Of the foundation's $487m in investments, 52% are invested in equities and alternative investments.
This charity report is an update that is currently being reviewed by Princess Margaret Cancer Foundation. Changes and edits may be forthcoming.
Updated on June 5, 2017 by Juliana Badovinac
Financial RatiosFiscal year ending March
|Administrative costs as % of revenues||2.3%||2.2%||1.8%|
|Fundraising costs as % of donations||25.8%||25.2%||23.0%|
|Program cost coverage (%)||594.4%||659.8%||838.7%|
Summary Financial StatementsAll figures in $000s
|Cash flow from operations||3,329||32,070||45,342|