Sunnybrook Foundation
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.
B
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.
73%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 73 cents are available for programs.
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OVERVIEW
About Sunnybrook Foundation:
Sunnybrook Foundation is a 3-star charity. It has an average results reporting grade, reasonable overhead spending, and is financially transparent. However, the charity has funding reserves that can cover program spending for over 10 years.
Founded in 2000, Sunnybrook Health Sciences Centre Foundation (Sunnybrook Foundation) raises money for Sunnybrook Hospital and Sunnybrook Research Institute. These institutions use funds to work in six areas: Brain, Cancer, Focused Ultrasound, Heart, Trauma, and Women & Babies. Sunnybrook Hospital has a large trauma centre and cancer treatment program. The charity reports that one out of every four women that delivers her baby at Sunnybrook experiences a high-risk pregnancy.
Sunnybrook Foundation focuses its work in three main programs: Research & Innovation, Buildings & Equipment, and Patient Care Initiatives.
In F2023, Sunnybrook Foundation put 62% of grant spending ($21.5 by Ci calculation) towards Research and Innovation. The charity funds research in many areas, including cancer treatment, brain disorders, heart disorders, and care for traumatic injuries. In F2023, Sunnybrook Foundation started 443 research projects involving 950 research personnel. The charity also ran 401 cancer-related clinical trials during the year.
In F2023, 23% of grant spending ($8.0m) went towards Buildings and Equipment. Sunnybrook Foundation is constantly updating its infrastructure as needed. In F2023, the charity reported that it had 25 capital projects and renovations underway. One of its main projects is building the Garry Hurvitz Brain Sciences Centre which is scheduled to be done in 2024.
In F2023, Sunnybrook Foundation spent 15% of grants ($5.2m) on Patient Care Initiatives. Sunnybrook Hospital runs the Odette Cancer Program, one of the largest cancer treatment programs in North America. In F2023, the charity had 26,029 visits to its mental health services department. The charity also supported 75,576 radiation visits and 3,916 visits to its trauma clinic.
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Results and Impact
In 2016, Health Canada approved a new treatment for essential tremor (a movement disorder) based on findings from Sunnybrook researchers. This treatment uses MRI-guided focused ultrasound which is less invasive than other methods. In F2023, Sunnybrook Foundation’s funded research published over 27 journal articles related to brain function.
Sunnybrook Foundation states that its trauma centre is ranked in the top 10% of trauma centres in North America. The Foundation also has one of the two adult burn centres in Canada that is accredited by the American Burn Association.
While Ci highlights these key results, they may not be a complete representation of Sunnybrook Foundation’s results and impact.
This charity is not yet rated on impact (n/r).
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Finances
Sunnybrook Foundation is a Major 100 charity, one of Canada’s largest charities in terms of donations. In F2023, it received $65.5m in donations. The charity earned $3.9m in investment income during the year (6% of total revenue), representing a 1% annual return. Charity Intelligence calculates Sunnybrook Foundation's average annual investment return since F2013 is around 7%. The average annual investment return of the S&P 500 from 2013 to 2021 is around 15%.
Administrative costs are 7% of total revenue excluding investment income. Fundraising costs are 20% of donations. This results in total overhead spending of 27%. For every dollar donated to the charity, 73 cents go to the cause. This is within Ci’s reasonable range for overhead spending.
Sunnybrook Foundation has $353.6m in net funding reserves. The charity can cover 1019% or around 10 years and two months of granting at the F2023 level. This is more than 1.5 times higher than the program cost coverage ratio for F2022 (595%).
According to its most recent T3010 filing with the CRA for F2022, Sunnybrook Foundation uses external fundraisers. It paid external fundraisers $1.3m to raise $4.1m, at a cost of $0.33 per dollar.
Charity Intelligence has sent this update to Sunnybrook Foundation for review. Changes and edits may be forthcoming.
Updated on August 24, 2023 by Clive Stevens.
Financial Review
Fiscal year ending March
|
2023 | 2022 | 2021 |
---|---|---|---|
Administrative costs as % of revenues | 6.8% | 5.4% | 5.2% |
Fundraising costs as % of donations | 20.0% | 15.3% | 14.5% |
Total overhead spending | 26.8% | 20.7% | 19.7% |
Program cost coverage (%) | 1,018.7% | 594.8% | 872.5% |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
---|---|---|---|
Donations | 65,519 | 72,525 | 71,051 |
Government funding | 0 | 235 | 406 |
Lotteries (net) | 598 | 619 | 469 |
Business activities (net) | 639 | 580 | 482 |
Investment income | 3,899 | 6,331 | 50,278 |
Total revenues | 70,655 | 80,290 | 122,686 |
Grants | 34,715 | 56,472 | 37,556 |
Administrative costs | 4,546 | 3,993 | 3,782 |
Fundraising costs | 13,073 | 11,065 | 10,301 |
Total spending | 52,334 | 71,530 | 51,639 |
Cash flow from operations | 18,321 | 8,760 | 71,047 |
Capital spending | 339 | 240 | 85 |
Funding reserves | 353,641 | 335,872 | 327,674 |
Note: To report on a cash basis, Ci adjusted grants by changes in amounts due to Sunnybrook Hospital. This affected expenses by ($2.8m) in F2023, $769k in F2022, and $129k in F2021. In F2021, Sunnybrook Foundation began to disclose lottery revenues and expenses included within donations and fundraising costs, respectively. Ci reported lottery revenues net of expenses in lotteries (net), removing the amounts from donations and fundraising costs. This affected revenues and expenses by ($774k) in F2023, ($754k) in F2022, and ($611k) in F2021. Sunnybrook Foundation does not report its amortization expense as a line item on its income statements. Ci removed amortization on a pro-rata basis from administrative and fundraising costs.
Salary Information
$350k + |
1 |
$300k - $350k |
1 |
$250k - $300k |
2 |
$200k - $250k |
3 |
$160k - $200k |
3 |
$120k - $160k |
0 |
$80k - $120k |
0 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2022
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Comments & Contact
Comments added by the Charity:
Comments received from Sunnybrook Foundation September 22, 2022
ABOUT SUNNYBROOK FOUNDATION
Philanthropy plays a critical role in every discovery, innovation and moment where Sunnybrook provides high-quality care when it matters most.
Sunnybrook Foundation inspires lasting support for Sunnybrook. Together with our donor community, Sunnybrook Foundation raises critical funds for Sunnybrook’s world-class academic health sciences centre to achieve our shared vision to invent the future of health care. Sunnybrook Foundation is a committed to leading with our values and developing a model of shared leadership that will support our plans for ambitious growth.
Located within Sunnybrook Health Sciences Centre on Bayview Avenue in Toronto, the Foundation consists of more than 75 professionals and support staff who work in close partnership with our Hospital colleagues. Last year, thanks to the commitment of our dedicated volunteers, donors, and staff, we raised more than $80 million to support Sunnybrook’s priorities.
With ambitious goals ahead, the Foundation is committed to continuing to grow our results and impact as we help Sunnybrook to raise sights, uncover new possibilities, develop talent, and deliver exceptional care.
OUR VALUES
Build Connectedness: We strive to build purposeful relationships with our diverse community. We recognize the collective impact of our contributions and commit to helping each other thrive.
Act with Integrity: We take responsibility for our commitments and hold ourselves accountable for our actions. We demonstrate respect and cultivate an environment that supports open and honest communication.
Meaningful Collaboration: We take pride in what we deliver as a team and create opportunities to engage and work together in meaningful ways. We actively listen, embrace new ideas and value different perspectives.
Strive for Excellence: Our passion for our shared vision fuels curiosity, creativity and growth. We continuously learn from our experiences and from each other. We evolve and adapt to maximize impact.
Contact:
Website: www.sunnybrook.ca/foundation
Tel: 416-480-4483
foundation@sunnybrook.ca
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 416-480-4483