Health Sciences Centre 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.
83%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 83 cents are available for programs.
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OVERVIEW
About Health Sciences Centre Foundation:
Health Sciences Centre Foundation is a 2-star, financially transparent charity. Its results reporting score is C-, which is below average. Its overhead spending is within Ci’s reasonable range. Its reserve funds can cover five years and nine months of annual program costs.
Founded in 1976, Health Sciences Centre Foundation (HSCF) raises money for the Health Sciences Centre Hospital. These funds support equipment, capital expansion, research, and healthcare worker training. The hospital is in Manitoba, but also treats patients from Northwestern Ontario and Nunavut. It specializes in trauma, neurosurgery, burn, transplant, and psychiatric treatment.
In F2023, HSCF granted the hospital $8.8m. It also distributed $559k to the Children’s Hospital Foundation of Manitoba. It distributed grants towards new hospital units and equipment, healthcare worker training, and technology. The charity does not provide a spending breakdown.
In F2023, HSCF reported these units supporting 84 kidney transplants. It also supported 6,516 radiological exams and 5,086 visits for post-kidney transplant treatment. Patients (excluding newborns) spent a collective 278,236 days in care. The hospital performed 300 endoscopic bronchial ultrasounds.
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Results and Impact
Charity Intelligence could not find appropriately quantified outcomes from the charity’s reports.
HSCF has not yet been rated on impact (n/r).
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Finances
Health Science Centre Foundation received $20.1m in donations in F2023. Administrative costs are 7% of revenues (less investment income). Fundraising costs are 9% of donations. Total overhead spending is 17%. For every dollar donated, 83 cents are available to go to the cause. This is within Ci’s range for reasonable overhead spending.
Health Science Centre Foundation has $75.7m in funding reserves. Of these, $31.0m are donor-endowed funds. Excluding these funds, the charity could cover five years and nine months of annual program costs.
This charity report is an update that has been sent to Health Sciences Centre Foundation for review. Changes and edits may be forthcoming.
Updated on June 18, 2024 by Stellar Zhang.
Financial Review
Fiscal year ending March
|
2023 | 2022 | 2021 |
|---|---|---|---|
| Administrative costs as % of revenues | 7.5% | 12.7% | 12.1% |
| Fundraising costs as % of donations | 9.5% | 14.4% | 17.1% |
| Total overhead spending | 16.9% | 27.1% | 29.2% |
| Program cost coverage (%) | 566.2% | 913.7% | 720.4% |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
|---|---|---|---|
| Donations | 20,100 | 8,122 | 6,111 |
| Lotteries (net) | 3,751 | 5,058 | 4,793 |
| Special events | 1,191 | 779 | 648 |
| Investment income | 1,086 | 2,210 | 7,603 |
| Other income | 96 | 206 | 75 |
| Total revenues | 26,224 | 16,375 | 19,230 |
| Grants | 9,454 | 5,238 | 5,436 |
| Administrative costs | 1,879 | 1,794 | 1,410 |
| Fundraising costs | 2,015 | 1,286 | 1,156 |
| Total spending | 13,348 | 8,317 | 8,003 |
| Cash flow from operations | 12,877 | 8,057 | 11,228 |
| Capital spending | 42 | 23 | 219 |
| Funding reserves | 75,734 | 62,911 | 54,773 |
Note: Ci reported lotteries net in revenue and removed those expenses from total expenditure, affecting it by $4.7m in F2023, $4.3m in F2022, and $4.5m in F2021. In F2022, HSCF’s auditors changed its presentation of the financial statements. The summary statements for F2021 have been restated to conform to its current presentation. Ci adjusted for grants payable, affecting grants by $138k in F2023, $7k in F2022, and $296k in F2021.
Salary Information
$350k + |
1 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
2 |
$160k - $200k |
0 |
$120k - $160k |
2 |
$80k - $120k |
5 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2023
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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: (204) 515-5612