British Columbia Children's Hospital Foundation is a three-star charity. It has a B- results reporting grade, which is below average. The charity has reserve funds that can cover its program costs for over nine years. For every dollar donated to the charity, 69 cents go to the cause, which is within Ci's reasonable range.

Founded in 1982, BC Children’s Hospital Foundation (BCCHF) raises funds for BC Children's Hospital (The Hospital), BC Children’s Hospital Research Institute, and Sunny Hill Health Centre for Children. It aims to improve children’s health by funding new equipment purchases, research on pediatric diseases, and patient care programs. BC Children’s Hospital is the province’s only hospital that works exclusively with children. BCCHF reports that The Hospital served 138,000 children in F2023. In June 2020, Sunny Hill Foundation for Children amalgamated with BCCHF.

BCCHF’s F2023 annual report was not available at the time of this report. The F2022 was used instead.

In F2023, BC Children’s Hospital Foundation reports that it provided $89.4 million to the hospital. There's a wrinkle in these numbers. According to the audited financial statements, BC Children's Hospital Foundation transferred $46.5m in grants to the Hospital. The other $43.1m is money it will give in the future to the hospital. Like an irrevocable IOU. At F2023 year end, the foundation holds $282.8m in these IOU's, to be paid to the hospital in the future. This IOU balance has increased each year since F2018 by $163.1. One benefit of this is the hospital's money is invested by the foundation.

BCCHF grants to four main program areas at BC Children's Hospital: Care, Research, Equipment, and Education.

Care represented 49% of grants in F2022. BCCHF raises funds to provide care for children with a variety of needs. 138,000 children received care from BC Children’s Hospital in F2022. The charity’s social work department provided financial support to 200 families that financially struggle. The Hospital opened a sibling centre in 2021, focused on caring for siblings ranging from 3-16 years old. The charity reports since its opening, it received over 200 visits. 

Research represented 38% of grants in F2022. The charity supports research into pediatric diseases, such as childhood cancer, diabetes, and cardiac diseases. The charity reports it funded more than 80 studies on covid-19 in F2022. The Hospital launched 16 early phase clinical trials for therapy options for children with leukemia. BCCHF reports it supports over 1,200 researchers at the BC Children’s Hospital.

Equipment: represented 7% of grants in F2022. BCCHF raises funds to buy new hospital equipment to provide care for its patients. The charity bought over 1,000 pieces of new equipment in F2022.

The remaining 6% of grants represented Education. Ci could not find any information on its Education program.

BC Children’s Hospital Foundation is a Major 100 charity, one of Canada’s largest charities in terms of donations. It received $66.5m in donations in F2023. Administrative costs are 13% of revenue (excluding investment income), and fundraising costs are 18% of donations. This results in total overhead spending of 31%. For every dollar donated to the charity, 69 cents are available to go to the cause, which is within Ci’s reasonable range.

BCCHF has $540.1m in reserve funds, of which $162.9m is donor-endowed and $282m is owed to the hospital. Excluding donor-endowed funds and the hospital's balance, the charity’s has reserve funds of $96.4 million. Its reserve funds cost 2.1 years of grants. BCCHF also has future funding commitments. These future funding commitments are not disclosed in its F2023 audited financials.

The charity’s reserve funds earned $20.7m in investment income in F2023, at an estimated rate of return of 4%. Over the past five years, Ci estimates the BCCHF’s investment returns have averaged 7%. At F2023 year end, alternative investments, that include private debt and infrastructure, account for 21% ($111.4 million) of BCCHF's investment portfolio ($102.1 million in F2022 - 21%).

The charity ran a lottery in F2023 that raised $14.1m net of expenses ($28.4m  in gross lottery ticket sales). For each dollar in lottery ticket sales, 50 cents goes to the foundation. BCCHF owns six residential houses, of which three are under construction, as prizes for its lotteries. The cost of these six houses is $6.6 million with a further $3.5 million in construction costs. 

According to its most recent CRA filing in F2022, BCCHF uses external fundraisers. It paid external fundraisers $1.4m to raise $7.7m in F2022, at a cost of $0.18 per dollar raised.

Charity Intelligence has sent this update to BC Children’s Hospital Foundation for review. Changes and edits may be forthcoming.

Updated on July 27, 2023 by Liam Chapleau. Updated December 20, 2023