Caritas Hospitals Foundation
Edmonton, AB T5K 0L4
CEO: Tracy Sopkow
Board Chair: Ron Gilbertson
Charitable Reg. #: 12422 0096 RR0001
Social Results Reporting
Grade: CThe grade is based on the charity's public reporting of the work it does and the results it achieves.
Program Cost Coverage
Full-time staff #6
Avg. Compensation $88,914
Top 10 Staff Salary Range
|$300k - $350k||0|
|$250k - $300k||0|
|$200k - $250k||0|
|$160k - $200k||0|
|$120k - $160k||1|
|$80k - $120k||0|
|$40k - $80k||5|
About Caritas Hospitals Foundation:
In 1994, Edmonton General Hospital, Grey Nuns Hospital and Misericordia Hospital merged into one health group, the Caritas Health Group. Two separate foundations that served the three hospitals also merged to form Caritas Hospitals Foundation. The Foundation funds capital equipment, programs and projects and services related to acute and continuing care. All three hospitals are part of Covenant Health, a Catholic healthcare provider in Alberta. In F2015, Caritas Hospitals Foundation made $5.2 million in grants to the three hospitals.
In April, 2016, Covenant Foundation replaced Caritas Hospital Foundation, aiming to raise funds for 15 healthcare facilities across Alberta. This change was made to increase fundraising capacity, and community health awareness and education. Covenant Foundation reports that its priority campaigns in F2015 included a Neonatal Intensive Care Unit for the Misericordia Community Hospital, and a Palliative Care Institute for the Grey Nuns Community Hospital.
Caritas Hospitals Foundation is a medium-sized charity, with donations and special events revenues of $2.3m in F2015. Its administrative costs are 35% of revenues, which is 10% higher than in F2014 due to a 23% increase in the Foundation's administrative expenses in F2015. The charity's fundraising costs are 13% of donations. For every $1 donated to the charity, 52 cents is put towards its programs, falling below Ci's reasonable range. The charity's funding reserves of $38.5m include $8.2m in donor-endowed funds. This results in a program cost coverage ratio, excluding donor-endowed funds, of 637%. This means that the charity can fund 6.4 years of its annual programs using its existing reserves.
This charity report is an update that is being reviewed by Caritas Hospitals Foundation. Changes and edits may be forthcoming.
Updated on August 2, 2016 by Lynn Tay.
Financial RatiosFiscal year ending March
|Administrative costs as % of revenues||35.4%||25.6%||25.7%|
|Fundraising costs as % of donations||13.0%||11.6%||20.4%|
|Program cost coverage (%)||745.2%||1,141.2%||1,398.4%|
Summary Financial StatementsAll figures in $000s
|Goods in kind||232||190||160|
|Cash flow from operations||(113)||2,438||1,314|