Grand River Hospital 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.
81%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 81 cents are available for programs.
My anchor
OVERVIEW
About Grand River Hospital Foundation:
Grand River Hospital Foundation is a 3-star, financially transparent charity. Its results reporting score is B, which is average. Its overhead spending is within Ci’s reasonable range. Its reserve funds can cover sixteen years and two months of annual program costs.
In 1995, Freeport Hospital Foundation and Kitchener-Waterloo Hospital Foundation merged to become Grand River Hospital Foundation (GRHF), located in Kitchener, Ontario. GRHF raises and provides funds for the Grand River Hospital. Funds raised by GRHF generally support new equipment purchases, research, and training programs.
In F2023, GRHF granted Grand River Hospital $2.1m. It also granted St. Mary's Hospital Foundation $10k. Grand River Hospital provides healthcare to people living in the Waterloo-Wellington (Ontario) area. In F2023, the Hospital facilitated 16,799 surgeries, 26,795 patient stays, and 75,275 emergency visits. It also supported the births of 4,136 babies.
NEWS: Grand River Hospital is merging with St. Mary's General Hospital. This merger is expected to be final by April 1, 2025. Also, on July 22, 2024, a new hospital site was announced where it will be at the University of Waterloo.
My anchor
Results and Impact
Charity Intelligence could not find any quantifiable outcomes reported in publicly available information.
This charity has not yet been assessed on impact (n/r).
My anchor
Finances
In F2023, Grand River Hospital Foundation received $22.4m in donations. Administrative costs were 7% of revenues. Fundraising costs were 12% of donations. Total overhead spending was 19%. For every dollar donated, 81 cents are available to go to the cause. This is within Ci’s reasonable range for spending. In F2023, the charity spent $2.1m in grants.
Grand River Hospital Foundation had $35.7m in funding reserves in F2023. Included in these are $3.7m of donor-endowed funds. Excluding these funds, its reserves can cover sixteen years and two months of annual program costs.
This charity report is an update that has been sent to Grand River Hospital Foundation for review. Changes and edits may be forthcoming.
Updated on June 13, 2024 by Stellar Zhang.
Financial Review
Fiscal year ending March
|
2023 | 2022 | 2021 |
|---|---|---|---|
| Administrative costs as % of revenues | 6.4% | 15.4% | 10.2% |
| Fundraising costs as % of donations | 12.5% | 18.4% | 13.6% |
| Total overhead spending | 18.9% | 33.7% | 23.8% |
| Program cost coverage (%) | 1,680.9% | 188.6% | 297.1% |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
|---|---|---|---|
| Donations | 22,396 | 10,648 | 13,004 |
| Goods in kind | 29 | 427 | 26 |
| Business activities (net) | 2,672 | 310 | (79) |
| Investment income | 482 | 736 | 3,594 |
| Other income | 530 | 480 | (12) |
| Total revenues | 26,110 | 12,600 | 16,534 |
| Program costs | 0 | 0 | 0 |
| Grants | 2,089 | 10,341 | 8,442 |
| Donated goods exp | 167 | 461 | 26 |
| Administrative costs | 1,647 | 1,822 | 1,315 |
| Fundraising costs | 2,799 | 1,956 | 1,768 |
| Total spending | 6,702 | 14,580 | 11,552 |
| Cash flow from operations | 19,408 | (1,980) | 4,982 |
| Capital spending | 1,586 | 10,450 | 10 |
| Funding reserves | 35,710 | 23,187 | 27,708 |
Note: Ci adjusted for deferred revenue, affecting revenues by $53k in F2023, $52k in F2022, and ($27k) in F2021. Ci reported GrandVenture expenses net as a business activity, affecting revenues by $2.6m in F2023, ($257k) in F2022, and ($218k) in F2021. Ci adjusted for amount due to Hospital, affecting grants by $3.8m in F2023, $1.5m in F2022, and $2.8m in F2021. Ci listed integrated volunteer program costs and integrated marketing and communications program under fundraising costs, affecting it by $136k in F2023 and $nil in F2022.
Salary Information
$350k + |
0 |
$300k - $350k |
1 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
1 |
$120k - $160k |
4 |
$80k - $120k |
4 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2023
My anchor
Comments & Contact
Comments added by the Charity:
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 519-749-4205