Baycrest Centre Foundation

3560 Bathurst Street, 2nd Floor
Toronto, ON M6A 2E1
President & CEO: Garry Foster
Board Chair: Laurence Goldstein

Website: www.baycrest.org
Charitable Reg. #: 11921 5242 RR0001
Sector: Health - Hospital Foundation
Public Foundation

Social Results Reporting

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 ]

Program Cost Coverage

Funding Reserves Program Costs

Spending Breakdown

Full-time staff #62

Avg. Compensation $98,186

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 1
$250k - $300k 0
$200k - $250k 1
$160k - $200k 1
$120k - $160k 4
$80k - $120k 3
$40k - $80k 0
< $40k 0
Information from most recent CRA Charities Directorate filings for F2014

About Baycrest Centre Foundation:

Thanks to the vision of a group of dedicated and committed women who volunteered their time to care for the frail elderly in the Jewish community, Baycrest opened its doors in 1918 as the Toronto Jewish Old Folks Home, a semi-detached house on Cecil Street. Now located on a 22-acre campus on Bathurst Street, Baycrest addresses the needs of more than 2,500 people each day, including frail, elderly individuals as well as active seniors. The organization, fully affiliated with the University of Toronto, is an internationally-recognized academic health sciences centre that focuses on innovations in aging and brain health.

Baycrest attributes its success to strengths in areas such as enabling the elderly to realize their maximum physical, psychosocial, and spiritual well-being, providing and facilitating services and programs to assist elderly people to live in the community and offering a supportive and caring environment if they cannot do so. It conducts activities in an innovative and fiscally-responsible manner, while attracting and retaining high-quality and dedicated staff across all disciplines.

The Canadian Centre for Aging and Brain Health Innovation (CC-ABHI) at Baycrest Health Sciences was officially launched in May 2015 with plans to have it up and running by the fall of 2015. The $123.5m centre, which will focus on the causes of cognitive decline in seniors, received $42m and $23.5m in federal and provincial funding. The funding is matched by a further $25m commitment from Baycrest Foundation and $33m from partner organizations.

Financial Review:

Baycrest raised $19.1m through donations and fundraising events for F2014. Investment income excluding the unrealized gains (losses) was $374k. The administrative costs are 32% of the revenue and fundraising costs are 7% of donations. Baycrest Foundation's reserves, which include $30.7mof externally-restricted funds, amount to $129.9m. This covers annual grantsover 6 times. The foundation does not provide a breakdown of donor-endowed funds.

This charity report is an update that is being reviewed byBCF Canada. Changes and edits may be forthcoming.

Updated on June 02, 2015 by Rohan Bhargava

Financial Ratios

Fiscal year ending March
201420132012
Administrative costs as % of revenues 32.3%23.5%15.8%
Fundraising costs as % of donations 6.6%16.0%17.2%
Program cost coverage (%) 625.8%700.0%713.3%

Summary Financial Statements

All figures in $000s
201420132012
Donations 16,12915,34512,963
Special events 2,9924,9997,603
Investment income 3746131,062
Total revenues 19,49520,95721,628
Program costs 20,75517,40117,187
Administrative costs 6,1694,7793,240
Fundraising costs 1,2623,2443,543
Other costs 2,1642,3231,399
Cash flow from operations (10,855)(6,790)(3,741)
Funding reserves 129,880121,799122,591
Note: Note: Ci has reversed unrealized investment gains (losses), decreasing revenue by $10.7m in F2014, $7.3m in F2013 and $1.3m in F2012.

Comments added by the Charity:

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