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SickKids Foundation

525 University Ave, Suite 835
Toronto, ON M5G 2L3
CEO: Ted Garrard
Board Chair: Kathleen Taylor

Website: www.sickkidsfoundation.com
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

donor
endowed
Funding Reserves Program Costs

Spending Breakdown

Cents to The Cause

95¢
75¢
avg
65¢
50¢
2016 2017 2018
For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #181

Avg. Compensation $109,040

Top 10 Staff Salary Range

$350k + 2
$300k - $350k 2
$250k - $300k 5
$200k - $250k 1
$160k - $200k 0
$120k - $160k 0
$80k - $120k 0
$40k - $80k 0
< $40k 0
Information from most recent CRA Charities Directorate filings for F2017

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 Canada’s most research-intensive hospital and Canada’s largest centre focused on children’s health. In F2018, the Hospital received 316,021 ambulatory visits, admitted 16,832 patients, and performed 12,529 surgeries.

The foundation granted a total of $141.4m in F2018, including $135.4m to SickKids. Of total grants, 55% was allocated to research, 32% to patient care, 5% to education, 5% to other national programs, and 3% to programs outside of Canada.

In its F2018 annual report, SickKids Foundation states that it funded the renovations of SickKids’ orthopaedic operating suite with new equipment and technology in 2017. The foundation also purchased a Positron emission tomography and computerized tomography (PET/CT) scanner, which emits less radiation than older models.

The SickKids Research Institute had 1,819 research staff and 2,695 research trainees who worked on research projects in F2018. In F2018, the foundation awarded seven research grants to researchers across Canada studying childhood disease and conditions and provided six $5,000 grants toward conferences that are organized by and/or for families with sick children.

In October 2017, SickKids Foundation launched a $1.3b campaign to spend $600m toward a new hospital, $600m toward research, and $100m toward establishing healthcare partnerships to improve patient care.

Results and Impact: A 2017 survey, done by guardians on their satisfaction around the level of communication on patient safety, graded SickKids at 64.50, exceeding the hospital’s target of 62.00. In terms of research, the foundation reports that one of SickKids’ labs using CRISPR – a gene-editing technology – was the first to remove a duplicated gene in a lab setting, effectively correcting the cause of the disease.

Financial Review:

SickKids Foundation is a Major 100 charity, with $146.4m in donations and special events revenues in F2018. Administrative costs were 5% of revenues and fundraising costs were 28% of donations. For every dollar donated, 68 cents went to the cause, falling within Ci’s reasonable range for overhead spending.

In F2017, SickKids Foundation used external fundraisers as part of its fundraising activities. The foundation paid $6.4m and collected $17.3m in donations. As such, fundraising costs for external fundraisers were 37%. F2018 information was not available at the time the profile was updated.

SickKids Foundation has funding reserves of $1.2 billion dollars, of which $641.3m are donor endowed. Excluding donor-endowed funds, the foundation can cover 5.1 years of annual grants. The foundation reports grant commitments of $69.9m for F2019, $25.1m for F2020, and $25.1m for F2021.

This charity report is an update that has been sent to SickKids Foundation. Changes and edits may be forthcoming.

Updated on August 15, 2018 by Joeyanne Cheung.

Financial Ratios

Fiscal year ending March
201820172016
Administrative costs as % of revenues 4.6%4.8%4.4%
Fundraising costs as % of donations 27.6%26.6%24.0%
Program cost coverage (%) 849.8%1,113.2%1,226.1%

Summary Financial Statements

All figures in $000s
201820172016
Donations 125,620118,361117,202
Lotteries (net) 02,0922,337
Business activities (net) 1,3691,5021,634
Special events 20,82618,38416,126
Investment income 60,154113,592(20,675)
Other income 144735194
Total revenues 208,113254,666116,818
Grants 141,432105,03286,546
Administrative costs 6,7916,7946,058
Fundraising costs 40,35036,33031,998
Cash flow from operations 19,540106,510(7,784)
Funding reserves 1,201,8871,169,2201,061,097
Note: SickKids Foundation reports fundraising net of costs. Ci reallocated these costs into fundraising expenses. This increased revenues and expenses by $41.5m in F2018, $37.6m in F2017, and $33.1m in F2016. Ci removed amortization from administrative and fundraising costs on a prorated basis.

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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