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SickKids Foundation

525 University Ave, 14th Floor
Toronto, ON M5G 2L3
CEO: Ted Garrard
Board Chair: Kathleen Taylor

Charitable Reg. #: 10808 4419 RR0001
Sector: Health - Hospital Foundation
Public Foundation

Donor Accountability

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 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

2015 2016 2017
For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #166

Avg. Compensation $105,946

Top 10 Staff Salary Range

$350k + 2
$300k - $350k 1
$250k - $300k 5
$200k - $250k 2
$160k - $200k 0
$120k - $160k 0
$80k - $120k 0
$40k - $80k 0
< $40k 0
Information from most recent CRA Charities Directorate filings for F2016

About SickKids Foundation:

Founded in 1972, SickKids Foundation is the fundraising organization for The Hospital for Sick Children (SickKids) in Toronto. The hospital reports that it is one of the world's top paediatric healthcare institutions and Canada's leading centre dedicated to advancing children's health through the integration of patient care, research and education. In F2017, the Hospital received 312,345 ambulatory visits, admitted 16,224 patients, and performed 12,574 surgeries. SickKids’ Liver Transplant Program is the largest paediatric program in Canada.

The Foundation granted a total of $105.0m in F2017, including $98.4m to SickKids. Of total grants, 71% was allocated to research, 13% to patient care, 7% to other national programs, 5% to education, and 3% to programs outside of Canada.

In F2017, SickKids Foundation funded a new MRI machine for the Cardiac Diagnostic and Interventional Unit of the hospital as part of its clinical care programs. Child and family-centered care grants supported the development of mindfulness videos to help children with rheumatoid arthritis better deal with chronic pain. It also allows spaces like the SickKids Rooftop Patio to continue operating.

The SickKids Research Institute had 1,702 research staff and 2,738 research trainees who worked on research projects in F2017. Currently, the Foundation is funding research studying the effectiveness of brain surgery for 10,000 children with drug-resistant seizures in Canada.

SickKids reported its 2016 performance relative to targets in its Quality Improvement Plan. The hospital performed better than targets regarding sepsis screenings (99.6% versus goal of 80%), hand hygiene compliance (90.7% versus goal of 89%), and central line blood stream infections (1.3 per 1,000 versus goal of 1.8). The hospital underperformed, relative to targets, for hospital and emergency length of stay, which was 14.44 hours for emergency and 6.47 days for average length of stay for ministry of health and long-term care, versus targets of 13.80 and 6.34, respectively.

Financial Review:

SickKids Foundation is a Major 100 charity, with $136.7m in donations and special events fundraising in F2017. The Foundation also received $116.6m in investment income. Administrative costs were 5% of revenues and fundraising costs were 28% of donations. For every $1 donated, 68 cents went to the cause, falling within Charity Intelligence’s reasonable range for overhead spending.

In F2016, SickKids Foundation used external fundraisers as part of its fundraising activities. The Foundation paid $6.0m and collected $15.6m in donations. As such, fundraising costs for external fundraisers were 38%.

SickKids Foundation has funding reserves of $1.2 billion dollars, of which $731.4m are donor endowed. Excluding donor-endowed funds, SickKids can cover annual grants to the hospital 6.4 times.

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

Updated on August 23, 2017 by Juliana Badovinac.  

Financial Ratios

Fiscal year ending March
Administrative costs as % of revenues 5.0%4.6%4.2%
Fundraising costs as % of donations 27.5%24.8%23.4%
Program cost coverage (%) 1,113.2%1,226.1%1,008.4%

Summary Financial Statements

All figures in $000s
Donations 118,361117,202114,582
Lotteries (net) 2,0922,3373,296
Business activities (net) 1,5021,6341,388
Special events 18,38416,12616,711
Investment income 116,592(17,375)138,198
Other income 735194449
Total revenues 257,666120,118274,624
Grants 105,03286,546108,359
Administrative costs 7,0286,2715,781
Fundraising costs 37,58233,12430,773
Other costs 3,0003,3003,900
Cash flow from operations 105,024(9,123)125,811
Funding reserves 1,169,2201,061,0971,092,651
Note: SickKids Foundation reports fundraising net of costs. Ci reallocated these costs into fundraising expenses. This increased revenues and expenses by $37.6m in F2017, $33.1m in F2016, and $30.1m in F2015. Investments were initially reported net of fund management expenses. Ci recorded this as an expense in Other costs. This increased revenues and expenses by $3.0m in F2017, $3.9m in F2016, and  $3.4m in F2015.

Comments added by the Charity:

SickKids Foundation is committed to optimizing available donor dollars intended for investment in The Hospital for Sick Children (SickKids). The majority of reserve funds held by the Foundation are endowed by donors, and the Foundation is not permitted to encroach on the capital. In addition, certain funds have been endowed by the Foundation’s Board of Directors, to meet long-term commitments to the Hospital. This leaves unrestricted reserve funds of $164.3m at March 31, 2017, resulting in true “program cost coverage” of 110%.

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