Royal Columbian Hospital Foundation
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
D+
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.
78%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 78 cents are available for programs.
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OVERVIEW
About Royal Columbian Hospital Foundation:
Royal Columbian Hospital Foundation is a two-star charity with reasonable overhead spending and a low results reporting grade. It has funding reserves that can cover less than three years of 2021 program costs. The charity is not financially transparent.
Founded in 1978, Royal Columbian Hospital Foundation (RCHF) is a charity that raises money for Royal Columbian Hospital and the Fraser Health Authority. Royal Columbian Hospital is in New Westminster, British Columbia. The hospital is one of more than 13 hospitals and health centres that operate under the Fraser Health Authority. The foundation reports that more than one third of British Columbians rely on the Royal Columbian Hospital for critical care. The foundation funds equipment purchases, renovations, research, and patient care at the hospital. In F2021, it granted $10.1m to the Fraser Health Authority. RCHF did not provide a spending breakdown of its programs on its website.
In F2021, RCHF funded the purchase of a specimen radiography unit to help surgeons remove breast cancer tissue more precisely. It funded the purchase of a minimal exposure tubular retractor which reduces the riskiness of spinal surgery for a herniated disk. The foundation also funded the purchase of four new infant warmers, two bili-therapy pads, and a high-resolution portable ultrasound machine. Bili-therapy pads are used to treat jaundice in newborns.
In 2020, the hospital opened a new mental health and substance use wellness centre. RCHF gave the hospital $9.1m in funding for the centre. The hospital is currently undergoing a $1.5 billion renovation. By 2025, it aims to have a new acute tower that has 229 hospital beds for intensive care, all in single-patient rooms. The hospital also wants to replace its Sherbrooke centre, power plant, main entrance, and maintenance buildings.
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Results and Impact
Royal Columbian Hospital Foundation reports that the hospital has created 32.9k jobs over the past decade. It reports that the hospital delivered 3,000 babies, performed 5,500 heart catheterizations, and completed 1,000 open-heart surgeries. The charity did not disclose when these procedures took place.
While Ci highlights these key results, they may not be a complete representation of Royal Columbian Hospital Foundation's results and impact.
This charity is not yet rated on impact (n/r).
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Finances
In F2021, Royal Columbian Hospital Foundation received $10.4m in Canadian donations. It also received $493k in government funding (3% of total revenue) and $330k in business activity income (2% of total revenue) during the year. RCHF earned $4.6m in investment income in F2021 (28% of total revenue), representing a 25% annual return. RCHF’s average annual investment return since F2016 is 7%. The average annual investment return of the S&P 500 from 2016 to 2021 is around 16%.
Fundraising and administrative costs are 22% of total revenue excluding investment income. This results in total overhead spending of 22%. For every dollar donated to the charity, 78 cents go to the cause. This is within Ci’s reasonable range for overhead spending. RCHF has $29.6m in net funding reserves including $1.6m in donor-endowed funds. Excluding donor-endowed funds, the charity’s net funding reserves can cover 2021 program costs for around two years and nine months. The charity’s program cost coverage decreased significantly from F2020 due to a 77% increase in grant spending. Excluding donor-endowed funds, the charity’s net funding reserves can cover its average annual program costs from F2016 to F2021 for around five years and one month.
In its T3010 filing with the CRA, RCHF reports that it paid external fundraisers $0 to raise $12k in F2021. In F2020, it reports that it paid external fundraisers $19k to raise $1k. It cost $13.31 to raise one dollar using external fundraisers in F2020.
This charity report is an update that has been sent to Royal Columbian Hospital Foundation for review. Changes and edits may be forthcoming.
Updated on July 8th, 2022 by Arjun Kapur.
Financial Review
Fiscal year ending March
|
2021 | 2020 | 2019 |
---|---|---|---|
Fundraising & admin costs as % of revenues | 21.7% | 23.8% | 20.5% |
Total overhead spending | 21.7% | 23.8% | 20.5% |
Program cost coverage (%) | 279.8% | 434.9% | 656.9% |
Summary Financial StatementsAll figures in $000s |
2021 | 2020 | 2019 |
---|---|---|---|
Donations | 10,410 | 7,391 | 10,518 |
International donations | 63 | 2,791 | 286 |
Government funding | 493 | 0 | 0 |
Lotteries (net) | 106 | 89 | 73 |
Business activities (net) | 330 | 708 | 700 |
Investment income | 4,562 | (1,223) | 684 |
Other income | 180 | 33 | 76 |
Total revenues | 16,143 | 9,789 | 12,338 |
Grants | 10,110 | 5,718 | 3,645 |
Fundraising & administrative costs | 2,515 | 2,623 | 2,391 |
Total spending | 12,625 | 8,341 | 6,036 |
Cash flow from operations | 3,518 | 1,448 | 6,302 |
Capital spending | 0 | 470 | 0 |
Funding reserves | 29,627 | 26,041 | 24,959 |
Note: Lottery and business revenue are presented gross where the foundation's financial statements do not specify related expenses. Ci has adjusted for change in grants payable to Fraser Health Authority, affecting expenses by ($75k) in F2021, $365k in F2020, and ($321k) in F2019. Ci used the charity's T3010 filing with the CRA to report international donations separately from Canadian donations.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
1 |
$160k - $200k |
0 |
$120k - $160k |
2 |
$80k - $120k |
5 |
$40k - $80k |
2 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2021
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Comments & Contact
Comments added by the Charity:
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 604-520-4438