Terry Fox Foundation

150-8960 University High Street
Burnaby, BC V5A 4Y6
Executive Director: Michael Mazza
Board Chair: Michael Rossi

Charitable Reg. #:10809 9979 RR0001


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

[Charity Rating: 4/5]



Audited financial statements for current and previous years available on the charity’s website.



Grade based on the charity's public reporting of the work it does and the results it achieves.



The demonstrated impact per dollar Ci calculates from available program information.


Charity's cash and investments (funding reserves) relative to how much it spends on programs in most recent year.



For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 68 cents are available for programs.

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About Terry Fox Foundation:

Terry Fox Foundation is a 4-star charity. The charity has an above-average results reporting grade, reasonable overhead spending, and is financially transparent.  

Founded in 1988, Terry Fox Foundation (TFF) raises funds and awareness for cancer research. The charity was created to honour the legacy of Terry Fox and his Marathon of Hope. Fox was diagnosed with bone cancer in 1977. He planned to run across Canada to raise awareness and money for cancer research. Fox made it 5,373 kilometres but had to stop because cancer had spread to his lungs. He died in 1981. TFF’s mission is to achieve Fox’s vision of a cancer-free world.   

Terry Fox Research Institute (TFRI) is a research funding organization closely related to Terry Fox Foundation. Founded in 2007, it receives and redistributes most of TFF’s grant spending. The financial analysis below has consolidated the statements of TFF and TFRI. The institute also receives funding from other organizations and the Canadian government. TFRI funds research on causes, treatments, and technologies related to various cancers. 

In F2022, Terry Fox Foundation distributed $16.2m in funds to the Terry Fox Research Institute. TFF also distributed $399k in funds to international cancer research organizations during F2022. 

Using funding from TFF and additional sources, Terry Fox Research Institute gave out $30.4m to cancer research programs. Of this $30.4m, $27.4m (90%) was granted to research. An additional $787k was granted to research by TFF through changes in accounts payable. The other $2.9m (10%) from TFRI went towards program costs (staff training, network operations, etc.). In F2022, Terry Fox Research Institute funded 35 research projects involving 309 researchers. TFRI uses an international panel of experts to allocate funds and claims to only fund the top 5% of Canadian researchers.  

TFRI also funds the Marathon of Hope Cancer Centres Network and the Digital Health & Discovery Platform. These projects are in collaboration with the Government of Canada. In F2022, TFRI gave $14.1m to the Marathon of Hope Cancer Centres Network. This Network unites cancer hospitals and research centres to allow for more collaboration. In F2022, TFRI gave $1.9m to the Digital Health & Discovery Platform. This platform works to develop technologies and policies that make it easier to analyze health data. These projects explore the possibility of developing precision medicine to tailor cancer treatments to each patient.

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Results and Impact

TFF and TFRI fund and report on many promising cancer research projects every year.  

In its F2022 annual report, Terry Fox Foundation reported that Dr. Gregory Czanota and his team had found a new radiation technique that is 60 times more effective than the traditional method. Dr. Czanota is a radiation oncologist at Sunnybrook Health Sciences Centre who received funding from TFRI. 

While Ci highlights these key results, they may not be a complete representation of Terry Fox Foundation’s results and impact. This charity is not yet rated for impact (n/r).

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In the following financial analysis, Ci consolidated Terry Fox Foundation with Terry Fox Research Institute. 

Terry Fox Foundation received $25.4m in Canadian donations and $488k in international donations in F2022. Administrative costs are 15% of revenues, and fundraising costs are 17% 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 $82.0m, which can cover around two years and seven months of annual program costs at the F2022 level. These funding reserves cover TFF’s multi-year research grant commitments. TFF reports grant commitments of $35.3m over the next five years (F2023 to F2027), of which $1.4m is for international research organizations and $33.9m is for TFRI. Notably, TFRI’s audited financial statements report grant commitments of $33.9m over the same period. TFRI does not specify how much of this funding is coming from TFF. 

TFF holds $63.7m in investments, of which 61% is held in bonds, 38% is in Canadian and foreign equities, and 1% is in term deposits and GICs. With a total investment income of $1.4m, TFF earned a 2% return in F2022 compared to a 14% return in F2021. 

In addition to reported salary information, TFF spent $676k and TFRI spent $609k on professional and consulting fees. Total compensation of $3.5m does not include these consulting fees.  

This charity report is an update that has been sent to Terry Fox Foundation for review. Changes and edits may be forthcoming. 

Updated on August 19, 2023 by Clive Stevens.

Financial Review

Financial Ratios

Fiscal year ending March
Administrative costs as % of revenues 14.6%9.3%14.5%
Fundraising costs as % of donations 17.4%18.7%18.0%
Total overhead spending 32.0%28.0%32.5%
Program cost coverage (%) 260.1%616.1%282.1%

Summary Financial Statements

All figures in $000s
Donations 25,44318,46424,846
International donations 4886771,306
Government funding 6,92814,83271
Business activities (net) 16377276
Investment income 1,1068,569(809)
Other income 1503817
Total revenues 34,13142,95725,707
Program costs - International 3992,1671,785
Program costs - Canada 2,9351,104469
Grants 28,20611,29621,727
Administrative costs 4,8283,2103,833
Fundraising costs 4,4333,4474,483
Total spending 40,80121,22532,296
Cash flow from operations (6,670)21,732(6,589)
Capital spending 369575
Funding reserves 82,04989,75567,650

Note: Ci consolidated the audited financials of Terry Fox Foundation (TFF) and Terry Fox Research Institute (TFRI). As such, all related party transfers have been backed out. Transfers between TFF and TFRI of $15.7m in F2022, $13.6m in F2021, and $23.8m in F2020 were excluded from revenue. Transfers of $16.2m in F2022, $13.6m in F2021, and $23.6m in F2020 were excluded from expenses.  To report on a cash basis, Ci removed deferred donations from non-government sources. This affected revenues by $500k in F2022, $100k in F2021, and $nil in F2020. Ci also removed deferred donations from government sources, which affected revenues by ($9.4m) in F2022, $13.0m in F2021, and $nil in F2020. Sale of merchandise is reported net of costs in business activities, reducing revenues and expenses by $821k in F2022, $511k in F2021, and $675k in F2020. Investment income is reported net of investment management fees reducing revenue and expenses by $340k in F2022, $320k in F2021, and $307k in F2020. Ci adjusted for changes in accounts payable, affecting expenses by $787k in F2022, ($787k) in F2021, and $nil in F2020. Amortization of capital assets is backed out of administrative and fundraising costs on a pro-rata basis.

Salary Information

Full-time staff: 31

Avg. compensation: $89,113

Top 10 staff salary range:

$350k +
$300k - $350k
$250k - $300k
$200k - $250k
$160k - $200k
$120k - $160k
$80k - $120k
$40k - $80k
< $40k

Information from most recent CRA Charities Directorate filings for F2022

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Comments & Contact

Comments added by the Charity:

Comments added July 11, 2023

Together with the Terry Fox Research Institute (TFRI), the Terry Fox Foundation (TFF) is excited to embark on our most decisive step yet to end cancer as a life-threatening disease. It’s an ambitious goal, but as we know from Terry Fox, the extraordinary is possible when we unite in pursuit of a shared vision. We now have the vision and critical partnerships, through an unprecedented collaboration of nearly 40 universities, hospitals and research institutions from coast to coast, to realize the promise of precision medicine for all Canadians with cancer. Although most of the revenue raised for this critically important project is accounted for through our partner charitable organizations, we are very proud to lead this important initiative and ensure that over $300M will be invested in cancer research by March 2026.

We are grateful for the support of our many donors and volunteers that helped us manage and quickly recover from the pandemic. Moving forward, we have developed a three year plan to continue to increase our revenue and reduce our cost ratio to optimize operational efficiency and increase the funds raised for cancer research.

Our investment portfolio represents the approximate figure we have committed to TFRI to fund critical scientific projects over the next five to seven years. The fund balance is crucial for multiple-year research commitments, as TFF is the primary funder of TFRI through philanthropy and peer-to-peer fundraising programs. To ensure sustainability of our leading research projects, we must maintain a fund balance to support these initiatives over their multi-year timeframes.

We are incredibly grateful to our donors, supporters, and volunteers for their generosity and partnership in realizing Terry’s dream of a world without cancer. We urge our supporters to review our annual report and audited financial statements, which are available at terryfox.org. For more information on our mission, programs, and impact, please visit us online or contact a member of our team at 1-888-836-9786.


Charity Contact

Website: www.terryfox.org
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 1-604-200-0541


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Charitable Registration Number: 80340 7956 RR0001