Terry Fox 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.
68%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 68 cents are available for programs.
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OVERVIEW
About Terry Fox Foundation:
Founded in 1988, Terry Fox Foundation (TFF) was formed after Terry Fox’s Marathon of Hope. Terry Fox was diagnosed with bone cancer in 1977 and ran 5,373 km across Canada to raise awareness and money for cancer research. He died in 1981 after cancer spread to his lungs. TFF’s mission is to realize Terry’s vision of a world without cancer by funding cancer research.
Terry Fox Research Institute (TFRI) is a research funding organization closely related to Terry Fox Foundation. Founded in 2007, it receives and re-distributes almost all TFF’s grant spending. TFRI funds translational research, which is research that translates lab discoveries into new treatments and technologies. TFRI also funds research on causes, treatments, and technologies related to various cancers, and supports new cancer researchers.
Terry Fox Foundation and TFRI together distributed $21.7m in cash grants for cancer research in F2020. $1.8m of this was spent by TFF on international programs and grants. The rest was distributed in research grants by TFRI.
TFRI funded 46 research projects at 98 institutions across Canada. TFRI uses an international panel of experts to allocate funds and claims to only fund the top 5% of Canadian researchers and their science. It funded 472 researchers in F2020. In F2019, 47 projects and 435 researchers received funding.
TFRI is also funding a new cancer centre network, called the Marathon of Hope Network, that will allow cancer centres across Canada to share data and resources. Its current goal is to build a 15,000-person database of cancer genomes which can then be used for data analysis and the development of personalized treatments. TFRI spent $2.0m on this project in F2020.
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Results and Impact
TFRI funds and reports on many promising cancer research projects every year.
Researchers at Dalhousie University, partially funded by TFRI, discovered that deletion of Interleukin-17 receptor (IL-17R), which regulates inflammation, may help doctors predict the aggressiveness of colorectal cancer in patients. The findings, which were published in the International Journal of Cancer in February 2019, showed that IL-17R deletion was present in over 50% of advanced colorectal cancer patients and these patients had worse survival rates than people without the deletion.
Researchers from Sunnybrook Health Centre and the University of Toronto, partially funded by TFRI, used artificial intelligence to predict whether or not patients with locally advanced breast cancer would respond to chemotherapy. The model could predict outcomes with 96% accuracy.
While Ci highlights these key results, they may not be a complete representation of Terry Fox Foundation’s results and impact.
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Finances
Ci consolidated Terry Fox Foundation with Terry Fox Research Institute in the following financial analysis.
Terry Fox Foundation is a Major 100 charity, meaning it is one of Canada’s largest charities in terms of donations. It received $24.9m in Canadian donations and $1.3m in international donations in F2020.
Administrative costs are 15% of revenues and fundraising costs are 18% of donations. This results in a total overhead cost of 32%. For every dollar donated, 68 cents go to the cause. This is within Ci’s reasonable range for overhead spending. TFF has total funding reserves of $67.6m, which can cover 2.8 years of annual program costs.
TFF’s audited financial statements report grant commitments of $38.9m over the next five years (F2021 to F2025) of which $2.7m is for international research organizations and $36.3m is for TFRI. Notably, TFRI’s audited financial statements report grant commitments of $43.2m over the same period, $42.7m of which is listed as supported by TFF.
TFF holds $65.1m in investments, of which 64% is held in bonds, 34% is in Canadian and foreign equities, and 1% is in term deposits and GICs. With total investment income of ($809k), TFF earned a -1% return in F2020 compared to a 5.7% gain in F2019.
The charity spent $75k on capital expenditures in F2020, $216k in F2019, and $273k in F2018.
This charity report is an update that has been sent to Terry Fox Foundation for review. Changes and edits may be forthcoming.
Updated on June 14, 2021 by Asha McMullin.
Financial Review
Fiscal year ending March
|
2020 | 2019 | 2018 |
|---|---|---|---|
| Administrative costs as % of revenues | 14.7% | 12.0% | 12.7% |
| Fundraising costs as % of donations | 17.8% | 19.8% | 19.3% |
| Total overhead spending | 32.5% | 31.7% | 32.0% |
| Program cost coverage (%) | 282.1% | 263.5% | 358.0% |
Summary Financial StatementsAll figures in $000s |
2020 | 2019 | 2018 |
|---|---|---|---|
| Donations | 24,863 | 23,324 | 22,925 |
| International donations | 1,306 | 1,463 | 1,143 |
| Government funding | 71 | 44 | 71 |
| Business activities (net) | 276 | 128 | 187 |
| Investment income | (809) | 3,393 | 2,096 |
| Total revenues | 25,707 | 28,352 | 26,423 |
| Program costs - International | 1,785 | 1,323 | 843 |
| Program costs - Canada | 22,196 | 26,829 | 22,091 |
| Administrative costs | 3,892 | 2,984 | 3,087 |
| Fundraising costs | 4,423 | 4,606 | 4,417 |
| Total spending | 32,296 | 35,743 | 30,438 |
| Cash flow from operations | (6,589) | (7,390) | (4,015) |
| Capital spending | 75 | 216 | 273 |
| Funding reserves | 67,650 | 74,171 | 82,111 |
Note: In the consolidated statements, transfers between TFF and TFRI were removed reducing income and expenses by $23.8m in F2020, $28.1m in F2019, and $23.1m in F2018. Sale of merchandise is reported net of costs in business activities, reducing revenues and expenses by $675k in F2020, $613k in F2019, and $660k in F2018. Investment income is reported net of investment management fees reducing revenue and expenses by $307k in F2020, $341k in F2019, and $394k in F2018. Amortization of capital assets is backed out of administrative and fundraising costs. Other research funding and other incomes are included in Canadian donations.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
3 |
$80k - $120k |
7 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2020
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Comments & Contact
Comments added by the Charity:
Charity Contact
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