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.
D
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.
76%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 76 cents are available for programs.
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OVERVIEW
About Grand River Hospital Foundation:
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 primarily for Grand River Hospital, but also for other local hospitals in Ontario. Funds raised by GRHF generally support new equipment purchases, research, and training programs, in order to provide the best care for patients. In F2021, GRHF granted Grand River Hospital $7.9m (94% of total granting in F2021), St. Mary's Hospital Foundation $244k (3%), Cambridge Memorial Hospital Foundation $244k (3%), and other registered charities $15k (<1%).
Grand River Hospital provides healthcare to people living in the Waterloo-Wellington (Ontario) area. In F2020, the Hospital reported facilitating 237,400 ambulatory visits, 67,000 emergency visits, 25,500 general admissions, 12,500 day surgery cases, and 4,200 births.
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Results and Impact
Ci did not find any quantified outcomes for Grand River Hospital Foundation.
Charity Intelligence has not assessed impact on GRHF. This shows as n/r, meaning not rated.
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Finances
Grand River Hospital Foundation received $13.0m in donations in F2021. It also reported $3.6m in investment income. Administrative costs are 10% of revenues (excluding investment income) and fundraising costs are 14% of donations. For every dollar donated, 76 cents go to the cause. This is within Ci’s reasonable range for overhead spending.
GRHF has funding reserves of $27.7m, of which $3.1m are donor-endowed. Excluding donor-endowed funds, the charity's funding reserves can support the charity's activities for just under 3 years.
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 August 25, 2021 by Rachel Leteta.
Financial Review
Fiscal year ending March
|
2021 | 2020 | 2019 |
|---|---|---|---|
| Administrative costs as % of revenues | 10.1% | 10.7% | 24.7% |
| Fundraising costs as % of donations | 13.6% | 19.2% | 41.2% |
| Total overhead spending | 23.7% | 29.9% | 65.9% |
| Program cost coverage (%) | 297.1% | 456.2% | 156.8% |
Summary Financial StatementsAll figures in $000s |
2021 | 2020 | 2019 |
|---|---|---|---|
| Donations | 13,004 | 8,526 | 5,392 |
| Goods in kind | 26 | 4 | 9 |
| Business activities (net) | (79) | 3 | 0 |
| Investment income | 3,594 | (1) | 1,313 |
| Other income | 15 | 1 | 0 |
| Total revenues | 16,560 | 8,532 | 6,713 |
| Grants | 8,442 | 4,503 | 11,735 |
| Donated goods exp | 26 | 4 | 9 |
| Administrative costs | 1,315 | 911 | 1,332 |
| Fundraising costs | 1,768 | 1,637 | 2,222 |
| Total spending | 11,552 | 7,055 | 15,297 |
| Cash flow from operations | 5,008 | 1,478 | (8,583) |
| Capital spending | 10 | 30 | 0 |
| Funding reserves | 27,708 | 22,644 | 21,305 |
Note: Ci reported GrandVenture business activities as net, reducing revenues and expenses by $218k in F2021 and $13k in F2020. Other revenue and expenses includes receipted life insurance premiums. Ci adjusted for changes in amounts payable to the Hospital, affecting total expenses by $2.8m in F2021, ($639k) in F2020, and $4.1m in F2019.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
1 |
$120k - $160k |
2 |
$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
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 519-749-4205