SickKids Foundation

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

Charitable Reg. #: 10808 4419 RR0001
Sector: Fundraising Organization
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

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 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 F2016, the Hospital received 301,997 ambulatory visits, admitted 15,988 patients, and performed 12,415 surgeries. SickKids’ Liver Transplant Program is the largest paediatric program in Canada.

The SickKids Research Institute had 1,730 research staff and 2,502 research trainees who worked on research projects in F2016. Research teams conducted the largest-ever suicide-risk study and found that most deaths occur well after the first suicide attempt. For F2017, SickKids hopes to improve suicide prevention through programs that monitor and support high-risk patients in the long-term. In F2016, SickKids Foundation and Cystic Fibrosis Canada have partnered to create the Program for Individualized Cystic Fibrosis Therapy. SickKids hopes to create a national resource that will accelerate the development and improvement of treatments for patients.

Financial Review:

SickKids Foundation is one of Canada’s 100 largest charities based on donations. In F2016, SickKids Foundation received $117.2m in donations and $16.1m in special events revenue. Individual giving contributed the most to the foundation's total revenue at $60.5m (44% of total revenue). Administrative costs are 5% of revenues and fundraising costs are 25% of donations. As such, for every $1 donated, 70 cents go towards the cause. This falls within Charity Intelligence’s reasonable range.

The Foundation has funding reserves of $1.1b (including $684m of donor-endowed funds), which cover annual program costs 12.3 times (or 7.2 times excluding donor-endowed funds).

Updated on July 31, 2017 by Juliana Badovinac.

Financial Ratios

Fiscal year ending March
Administrative costs as % of revenues 4.6%4.2%4.1%
Fundraising costs as % of donations 24.8%23.4%25.0%
Program cost coverage (%) 1,226.1%1,008.4%731.7%

Summary Financial Statements

All figures in $000s
Donations 117,202114,582105,461
Lotteries (net) 2,3373,2962,198
Business activities (net) 1,6341,3881,747
Special events 16,12616,71116,574
Investment income (17,375)138,19881,748
Other income 1944491,804
Total revenues 120,118274,624209,532
Grants 86,546108,359129,336
Administrative costs 6,2715,7815,249
Fundraising costs 33,12430,77330,503
Other costs 3,3003,9003,400
Cash flow from operations (9,123)125,81141,044
Funding reserves 1,061,0971,092,651946,381
Note: SickKids Foundation reports fundraising net of costs. Ci reallocated these costs into fundraising expenses. This increased revenues and expenses by $33.1m in F2016, $30.1m in F2015 and $30.5m in F2014. Investments were initially reported net of fund management expenses. Ci recorded this as an expense and is found in ‘Other costs.’ This increased revenues and expenses by $3.9m in F2016, $3.4m in F2016, and $3.1m in F2014. These changes had no effect on net income/loss.  

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 $140.5m at March 31, 2016, resulting in true “program cost coverage” of 112%.

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