Hockey Hall of Fame
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.
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.
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 Hockey Hall of Fame:
Hockey Hall of Fame is a 2-star charity. It has a low results reporting grade and is financially transparent. The charity has $8.4m in funding reserves which, excluding donor-endowed funds, can cover annual program costs for 2.9 years.
Founded in 1943, Hockey Hall of Fame (HHF) was established to preserve the history of ice hockey and honour the achievements of teams and individuals who made major contributions to the sport. Every year it works with members of the Canadian and international hockey community to select players, builders (coaches), and officials to induct into the Hockey Hall of Fame. HHF operates a museum that collects and preserves objects and images connected with the game of hockey, as well as operating a hockey archive and providing educational resources for youth.
HHFM is rated by Fodor's travel guide as a top tourist destination in Toronto. Visitors to the museum can see the original 1892 Stanley Cup and many other interactive displays. At the time of this report, the Hockey Hall of Fame has inducted 293 players, 113 builders, and 16 on-ice officials since its inception. In F2021, five players and one builder were inducted into the Hockey Hall of Fame. While museum exhibits are dedicated to the NHL professional league, new initiatives focus on hockey internationally, the Olympics, and women's hockey.
HHFM’s archives include original jerseys, sticks and equipment carefully preserved, and are all held in an 18,000 square foot centre. It holds 32,000 photographs and prints, 5,000 milestone and championship hockey sticks, 4,000 film reels, and 1,000 glass-plate negatives.
HHFM offers three levels (junior, intermediate, and senior) of educational hockey programs for children ages 4 to 12. The programs are designed for teachers and cover a variety of subjects which include history, English, math, business, and physical education. All program materials can be downloaded for free.
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Results and Impact
Charity Intelligence did not find any reported outcomes on the charity’s website. This may not be a complete representation of Hockey Hall of Fame's results.
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Finances
The Hockey Hall of Fame received $1.3m in donations and sponsorship in F2021. The charity received $1.7m in net business activities revenue which includes profits from retail sales, facility renting, licensing, and inducting ceremonies. This made up 52% of total revenues in F2021. HHFM also received $88k in admission revenue, representing a 96% decrease from F2020.
Administrative costs are 24% of revenues and fundraising costs are 2% of total donations. This means overhead costs are 26%. For every dollar donated, 74 cents go to the cause. This is within Ci’s reasonable range for overhead spending.
HHFM has $8.4m in funding reserves, of which $2.1m are donor-endowed. Excluding donor-endowed funds, HHFM can cover 2.9 years of annual program costs with current reserves.
This charity report is an update that has been sent to the Hockey Hall of Fame for review. Comments and edits may be forthcoming.
Updated July 29, 2022 by Emma Saganowich.
Financial Review
Fiscal year ending June
|
2021 | 2019 | 2018 |
|---|---|---|---|
| Administrative costs as % of revenues | 23.6% | 17.0% | 13.1% |
| Fundraising costs as % of donations | 2.0% | 36.4% | 22.3% |
| Total overhead spending | 25.5% | 53.4% | 35.4% |
| Program cost coverage (%) | 286.2% | 83.5% | 50.3% |
Summary Financial StatementsAll figures in $000s |
2021 | 2019 | 2018 |
|---|---|---|---|
| Donations | 1,282 | 2,131 | 4,023 |
| Fees for service | 88 | 3,462 | 3,490 |
| Business activities (net) | 1,745 | 3,516 | 3,720 |
| Other income | 213 | 352 | 282 |
| Total revenues | 3,328 | 9,461 | 11,515 |
| Program costs | 2,302 | 4,587 | 5,488 |
| Administrative costs | 785 | 1,612 | 1,509 |
| Fundraising costs | 25 | 775 | 895 |
| Total spending | 3,112 | 6,974 | 7,892 |
| Cash flow from operations | 216 | 2,487 | 3,623 |
| Capital spending | 95 | 589 | 1,296 |
| Funding reserves | 8,356 | 5,957 | 4,743 |
Note: Ci has reported business activities (which include retail, facility sales, licensing, and induction celebration) net of expenses, decreasing total revenues and expenses by $335k in F2021, $4.9m in F2020, and $7.0m in F2019. Ci has reported miscellaneous revenue net of miscellaneous expenses, decreasing total revenues and expenses by $322k in F2021, $337k in F2020, and $527k in F2019.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
1 |
$120k - $160k |
3 |
$80k - $120k |
6 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2021
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Comments & Contact
Comments added by the Charity:
Comments from a previous year:
About Hockey Hall of Fame:
Founded in 1943, the institutional purpose of Hockey Hall of Fame and Museum (HHFM) is to (i) honour and memorialize individuals who have brought special distinction to the game of hockey and those who made outstanding contributions to the development and advancement of hockey anywhere in the world, and (ii) establish and maintain a museum and official archives for hockey to collect, research, preserve, exhibit and promote objects, images and other historical materials connected with the game at all levels.
HHFM owns and operates a museum and place of entertainment offering state-of-the-art exhibits, theatrical presentations and educational programming from its leased premises at Brookfield Place, Toronto, Ontario, as well as a co-dependent resource centre and archive facility (named the “D.K. (Doc) Seaman Hockey Resource Centre”) located at 400 Kipling Avenue, Toronto, Ontario.
HHFM is one of the top four major sport halls of fame in North America with its counterparts in basketball, football and baseball all based in the United States. HHFM’s location at the corner of Yonge and Front Streets, the primary gateway to downtown Toronto in close proximity to Scotiabank Arena, Rogers Centre and one of North America’s busiest commuter transportation hubs, Union Station, provides unparalleled access and visibility amongst industry peers. Now in its second of five terms on a 99-year lease at Brookfield Place (renewed through 2032), HHFM’s growth and development depends to a large degree on private sector sponsorships and contributions. Through the support of businesses and individuals, HHFM will continue to preserve the rich history of the game of hockey, as well as entertain and educate hockey fans of all ages.
Financial Review:
HHFM is a medium-sized charity with monetary donations representing a nominal portion of its operating revenues. In F2017, (i) HHFM’s T3010 reports receipted donations of $243,000 of which $155,000 is attributed to “gift-in-kind” acquisitions for its museum and archival collections (these amounts are not expressly recorded in HHFM’s audited financial statements), (ii) HHFM’s audited financial statements reflect excess of revenue over expenditures of $1,329,000 on revenue from all sources of $17,301,000, and (iii) HHFM’s internally restricted net assets increased by 33%, from $3,016,000 as at June 30, 2016 to $4,004,000 as at June 30, 2017 (this amount, which can cover 1.1 years of annual “Program costs”, is restricted to fund the cost of enhancements to or replacements of exhibits or used for the general improvement of HHFM’s museum and archive premises).
HHFM classifies (i) revenue from Sponsorships and contributions, Admission, Licensing and Induction celebration as “Program services”, and (ii) revenues from Spirit of Hockey retail and Facility sales (including hospitality services) as “Related business activities”.
HHFM's administrative costs are 13% of revenues and fundraising costs are 0% of total monetary donations. In F2017, HHFM’s T3010 reports “Total expenditures on charitable activities” (“Program costs”) of $3,647,000 or 43% of operating expenditures (excluding direct costs of “Related business activities”). On that basis, CI assumes that for every dollar donated, $0.43 goes towards HHFM’s Program costs, which falls outside CI's reasonable range for overhead spending. However, HHFM management asserts that the nominal amount of cash donations received in F2017 are fully attributable to specified purposes aligned with its “Program services”.
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Additional resources:
Fodor's Travel Guide Top Things To Do in Toronto
Kristen Butler, Sports Halls of Fame lose visitors, July 16, 2013
Brendan Kennedy, From Cooperstown to Hockey Hall of Fame - comparing sports shrines, Toronto Star, January 10, 2015
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: (416) 360-7765