Health Sciences Centre Foundation

PW 112 - 700 William Avenue
Winnipeg, MB R3A 1R9
President & CEO: Jonathon Lyon
Board Chair: Tina Jones

Website: www.hscfoundation.mb.ca
Charitable Reg. #: 11895 5012 RR0001
Sector: Health - Hospital Foundation
Public Foundation

Social Results Reporting

Grade: B-

The grade is based on the charity's public reporting of the work it does and the results it achieves.

Financial Transparency

Audited financial statements available only upon request [ Audited financial statement for most recent year ]

Program Cost Coverage

donor
endowed
Funding Reserves Program Costs

Spending Breakdown

Full-time staff #13

Avg. Compensation $80,047

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 0
$120k - $160k 2
$80k - $120k 2
$40k - $80k 6
< $40k 0
Information from most recent CRA Charities Directorate filings for F2015

About Health Sciences Centre Foundation:

Founded in 1976, Health Sciences Centre Foundation (HSCF) raises funds for hospitals in Manitoba. HSCF allocates money towards research, education, technology and infrastructure. Health Sciences Centre hospital is the main beneficiary of HSCF's grants. The centre is Manitoba's main hospital, serving over 400,000 patients every year.

In F2015, Health Sciences Centre Foundation gave out $2m (34% of total revenues) to hospitals in Manitoba with approximately $1m for the integration of operating rooms. In addition, the foundation made grants of $70k to brain research, $68k to gall stones and pancreatic cancer research and $67k to Multiple Sclerosis study. Since 1981, HSCF has granted more than $100m in patient care and provided 55,000 square feet of research space to 370 researchers.

Health Sciences Centre Foundation is in a fundraising campaign to improve the Centre for Surgical Innovation at Health Sciences Centre hospital. Since its launch in 2013, the centre has performed 2,200 surgeries and 15,500 imaging procedures. HSCF also funds the Surgical Hearing Implant Program at Health Sciences Centre hospital. Doctors at the centre have performed 110 successful implants on 17 children.

Financial Review:

Health Sciences Centre Foundation is a Mid-Cap charity with donations and special event revenue of $4.2m in F2015. Administrative costs are 14% of total revenues and fundraising costs are 17% of total donations. Total overhead costs come to 31%, falling within Ci's reasonable range. HSCF's return on investments are 9% in F2015 and 10% in F2014. HSCF has funding reserves of $21.4m that can cover program costs for 10.5 years. Excluding donor-endowed funds of $11.6m, funding reserves can cover program costs for 6.7 years.

This charity report is an update that is being reviewed by the charity. Changes and edits may be forthcoming.

Updated on June 27th, 2016 by Mirza Ali Shakir.

Financial Ratios

Fiscal year ending March
201520142013
Administrative costs as % of revenues 14.2%9.6%7.3%
Fundraising costs as % of donations 17.0%17.6%9.8%
Program cost coverage (%) 1,046.7%782.9%331.5%

Summary Financial Statements

All figures in $000s
201520142013
Donations 3,4895,3016,603
Business activities (net) 435665
Special events 6986291,560
Investment income 1,7731,574829
Total revenues 6,0047,5599,057
Program costs 000
Grants 2,0452,4274,552
Administrative costs 600572597
Fundraising costs 7101,041798
Cash flow from operations 2,6493,5193,111
Funding reserves 21,40018,99915,088
Note: Ci recognizes deferred revenue in the year received, affecting revenues by ($1.3m) in F2015, ($974k) in F2014 and $1.9m in F2013. Ci also includes decreases in pledges receivables in its revenue calculations, affecting revenues by ($788k) in F2015, $872k in F2014 and $555k in F2013. Ci removed uncollectible pledges from the income statement.  

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