Healthy Minds Canada

1920 Yonge Street, Suite 300
Toronto, ON M4S 3E6
Executive Director: Katie Robinette
Board Chair: Michael Howlett

Charitable Reg. #: 11883 5420 RR0001
Sector: Health
Public Foundation

Donor Accountability

Grade: C+

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 #4

Avg. Compensation $47,917

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 0
$120k - $160k 0
$80k - $120k 0
$40k - $80k 3
< $40k 1
Information from most recent CRA Charities Directorate filings for F2014

About Healthy Minds Canada:

Healthy Minds Canada (HMC), started in 1980 as the Canadian Psychiatric Research Foundation, works to improve the well-being of all Canadians by supporting research on mental health and mental health issues.  In addition, HMC hosts workshops and symposia across the country and publishes resources and tools to translate the outcomes of mental health and addiction research and deliver this information to those who need it the most.

HMC publishes a three-volume series called When Something’s Wrong, designed to assist teachers, families, and employers in identifying and managing mental health and addictions issues in their respective environments. HMC also partners with the Boys and Girls Clubs of Canada to help children and youth cope with feelings of anxiety, fear, worry and depression by building resilience and self-esteem and teaching cognitive, behavioural and emotional skills.

Since 1980, HMC has funded 400 research projects at 42 universities and teaching hospitals across Canada. However, over the past three years, 4% of revenues have gone to research while 56% have gone to education and awareness programs.

Financial Review:

Administrative costs for HMC are 6% of revenues while fundraising costs are 44% of donations.  Funding reserves of $966k (including donor-endowed funds of $444k) cover annual program costs 1.8 times. Excluding donor-endowed funds, funding reserves cover program costs 1.0 times.

Financial Ratios

Fiscal year ending March
Administrative costs as % of revenues 6.0%4.5%5.3%
Fundraising costs as % of donations 43.6%32.1%34.6%
Program cost coverage (%) 183.4%295.9%307.0%

Summary Financial Statements

All figures in $s
Donations 283,019412,430450,377
Business activities (net) 18,64237,70229,283
Special events 263,228297,370303,463
Investment income 25,01713,43312,445
Other income 2006,3223,713
Total revenues 590,106767,257799,281
Program costs 507,518393,396330,419
Grants 18,949027,690
Administrative costs 34,08033,88441,781
Fundraising costs 237,924227,851260,839
Cash flow from operations (208,365)112,126138,552
Funding reserves 965,5711,163,8901,099,272
Note: Amortization of capital assets has been removed, reducing expenses by $1.7k in F2014m $1.4k in F2013, and $2.2k in F2012.  Grants paid have been reflected in the year of payment, increasing grants by $18.9k in F2014 and by $27.7k in F2012.

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