Hockey Hall of Fame

30 Yonge Street
Toronto, ON M5E 1X8
President & CEO: Jeffery Denomme
Board Chair: Lanny McDonald

Website: www.hhof.com
Charitable Reg. #: 11895 8883 RR0001
Sector: Sports & Recreation
Operating Charity

Donor Accountability

Grade: C-

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 for current and previous years available on the charity's website [ Audited financial statement for most recent year ]

Need for Funding

Funding Reserves Program Costs

Spending Breakdown

Cents to The Cause

95¢
75¢
avg
65¢
50¢
2015 2016 2017
For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #29

Avg. Compensation $109,149

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 1
$200k - $250k 0
$160k - $200k 0
$120k - $160k 3
$80k - $120k 6
$40k - $80k 0
< $40k 0
Information from most recent CRA Charities Directorate filings for F2017

About Hockey Hall of Fame:

Founded in 1943, the Hockey Hall of Fame and Museum (HHFM) was established to preserve the history of ice hockey and honour the achievements of teams and individuals who made major contributions to the sport. HHFM operates the Hockey Hall of Fame which is a museum that collects and preserves objects and images connected with the game of hockey. It works with members of the Canadian and international hockey community to ensure that the players, builders and officials who have made significant contributions and achievements in the game are honoured.

The Hockey Hall of Fame is highly-rated by Fodor's travel guide as a top tourist destination in Toronto, where visitors can see the original 1892 Stanley Cup and many other interactive displays to delight young and old alike. During the year ending June 2017, paid attendance was 256,754, a 21% increase compared to F2016. Hockey Hall of Fame gets more annual visitors than the NFL's Football Hall of Fame (225,000), but less than MLB's Baseball Hall of Fame that reports attendance below 300,000. Attendance at Hall of Fames has steadily declined over the decades. While the HHF exhibits are dedicated to the NHL professional league, new initiatives focus on hockey internationally, the Olympics, and women's hockey.

HHF's archives include original jerseys, sticks and equipment carefully preserved. It holds more than 2 million original negatives of hockey photos going back to 1875. Hockey is Canada's game, and is also Canada's gift to the world with ice hockey today played in over 75 countries. Phil Pritchard, Keeper of the Cup, is the current curator of HHF's permanent collection and archives.

HHFM also offers three levels of educational hockey programs for children ages 4 to 12. The program is designed for teachers and covers a variety of subjects which include history, English, math, business and physical education. All program materials can be downloaded for free.

Donations to Hockey Hall of Fame will support its Preserve Our Game campaign, going to the Doc Seaman Hockey Resource Centre to preserve objects, images and histories significant to the story of hockey. 

Financial Review:

The Hockey Hall of Fame and Museum is a medium-sized charity with donations and sponsorship of $2.2m in F2017, a 28% increase compared to F2015. HHF management informs Charity Intelligence that the majority of this is corporate and international sponsorship rather than tax-receipted donations. HHF's T3010 reports donations of $243k and donated goods in kind of $364k. Business activities (net profits from retail sales, facility renting, licensing and induction ceremonies) is HHF's largest source of funding. In F2017, the charity earned a profit of $3.9m from business activities, accounting for 40% of its total revenues. HHF received $3.6m in admission revenue in F2017, which has been steadily increasing since F2013. Admission tickets accounted for 37% of HFH total revenues. 

HHF's administrative costs are 15% of revenues and fundraising costs are 46% of total donations. For every dollar donated, $0.39 goes towards its programs, which falls outside Ci's reasonable range for overhead spending. The charity holds total funding reserves of $5.0m which can cover 1.1 years of annual program costs.

This charity report is an update that has been sent to the Hockey Hall of Fame and Museum for review. Comments and edits may be forthcoming.

Updated August 21, 2018 by Derek Houlberg.

Financial Ratios

Fiscal year ending June
201720162015
Administrative costs as % of revenues 15.2%16.8%17.9%
Fundraising costs as % of donations 45.7%51.4%61.8%
Program cost coverage (%) 107.7%65.2%89.5%

Summary Financial Statements

All figures in $000s
201720162015
Donations 2,1751,7031,475
Fees for service 3,6463,0012,809
Business activities (net) 3,8553,6453,660
Other income 235247247
Total revenues 9,9118,5968,191
Program costs 4,6003,8753,716
Administrative costs 1,5031,4471,467
Fundraising costs 993876911
Cash flow from operations 2,8152,3982,097
Funding reserves 4,9562,5273,326
Note: Ci has reported business activities (which include retail, facility sales, licensing and induction celebration) net of expenses, decreasing total revenues and expenses by $7.0m in F2017, $6.3m in F2016 and $6.1m in F2015. Ci has reported miscellaneous revenue net of miscellaneous expenses, decreasing total revenues and expenses by $412k in F2017, $482k in F2016 and $378k in F2015.

Comments added by the Charity:

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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

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