2075 Bayview Avenue, KGW-01
Toronto, ON M4N 3M5
President & CEO: Kelly Cole
Board Chair: Cliff Rand

Charitable Reg. #:89920 9118 RR0001

STAR RATING

Ci's Star Rating is calculated based on the following independent metrics:

[Charity Rating: 3/5]

✔+

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


Financial Ratios

Fiscal year ending March
202320222021
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 Statements

All figures in $000s
202320222021
Donations 65,51972,52571,051
Government funding 0235406
Lotteries (net) 598619469
Business activities (net) 639580482
Investment income 3,8996,33150,278
Total revenues 70,65580,290122,686
Program costs 000
Grants 34,71556,47237,556
Administrative costs 4,5463,9933,782
Fundraising costs 13,07311,06510,301
Total spending 52,33471,53051,639
Cash flow from operations 18,3218,76071,047
Capital spending 33924085
Funding reserves 353,641335,872327,674

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

Full-time staff: 74

Avg. compensation: $117,983

Top 10 staff salary range:

$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:

Charity Contact

Website: www.sunnybrook.ca/foundation
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 416-480-4483

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