Queen Elizabeth II Health Sciences Centre Foundation

1276 South Park St., Rm 1-040, Centennial Bldg.
Halifax, NS B3H 2Y9
President & CEO: Bill Bean
Board Chair: Nancy MacCready-Williams

Website: www.qe2foundation.ca
Charitable Reg. #: 88646 3496 RR0001
Sector: Health - Hospital Foundation
Public Foundation

Charity Rating

Not yet rated

Donor Accountability

Grade: NR

Charity not yet rated on the 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 #36

Avg. Compensation $79,268

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 1
$200k - $250k 0
$160k - $200k 1
$120k - $160k 1
$80k - $120k 7
$40k - $80k 0
< $40k 0
Information from most recent CRA Charities Directorate filings for F2014

About Queen Elizabeth II Health Sciences Centre Foundation:

The Queen Elizabeth II Health Sciences Centre Foundation raises funds for the QEII Health Sciences Centre in Halifax, Nova Scotia. The Foundation helps fund new technologies, research, innovation and education at the Centre with the goal of improving the lives of Atlantic Canadians.

As the largest adult health sciences centre in Atlantic Canada, the QEII serves as the local community hospital for immediate care and emergency services, as well as the specialized care centre for Atlantic Canada in areas such as heart health, cancer care, neurosurgery and organ transplantation. The QEII is also a leading medical research and teaching centre.

While the Foundation funds many areas of health care, the current focus areas include: revitalizing rehab, neuroscience, simulation-based learning, research, and palliative care.  Of the $20.2m in total revenues for the Foundation in F2014, $6.6m (33%) was granted to the Centre and $4.9m was spent on administrative and fundraising costs. The remaining $8.7m (43%) went into funding reserves.

The Foundation operates 3 lotteries, the Home Lottery, the Lifestyles Lottery, and the Grand-a-Week, with total revenues of $14.3m and 33% going to the charity after expenses.

Financial Review:

Administrative costs for F2014 were 13% of total revenues (excluding investment income) and fundraising costs were 19% of donations and special events revenues.  Funding reserves of $60.3m are enough to cover 9.1 years of program costs.  The charity has $27.4m in endowed funds; however, it does not disclose how much of this fund is donor-endowed vs. internally endowed by the board.

Financial Ratios

Fiscal year ending March
Administrative costs as % of revenues 13.3%17.3%15.9%
Fundraising costs as % of donations 19.2%31.1%26.7%
Program cost coverage (%) 913.1%715.3%424.0%

Summary Financial Statements

All figures in $000s
Donations 11,2626,6597,157
Goods in kind 313453450
Lotteries (net) 5,1624,7034,353
Special events 1,6461,5681,309
Investment income 1,7841,365(1,162)
Other income 4545100
Total revenues 20,21314,79212,207
Grants 6,6066,86710,599
Administrative costs 2,4562,3202,126
Fundraising costs 2,4832,5622,262
Cash flow from operations 8,6683,043(2,780)
Funding reserves 60,31549,11944,934

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