BC Children's Hospital Foundation

938 West 28th Avenue
Vancouver, BC V5Z 4H4
President & CEO: Malcolm Berry
Board Chair: Darrell Jones

Charitable Reg. #:11885 2433 RR0001

STAR RATING

Ci's Star Rating is calculated based on the following independent metrics:

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✔+

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.

72%

CENTS TO THE CAUSE

For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 72 cents are available for programs.



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OVERVIEW

About BC Children's Hospital Foundation:

Founded in 1982, BC Children’s Hospital Foundation (BCCHF) raises funds for BC Children's 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 serves around 96,000 children each year. In June 2020, Sunny Hill Foundation for Children amalgamated with BCCHF.

In F2021, BC Children’s Hospital Foundation granted $64.4m and had an additional $42.6m in unpaid grant amounts at year end. Its grant funding goes toward three main program areas: Care, Research, and Education.

Care represented 48% of grants. BCCHF raises funds to buy new hospital equipment and support renovations. In F2021, it helped to buy more than 1,500 pieces of telehealth equipment. In August 2020, BCCHF also opened a new facility for Sunny Hill Health Centre, a children’s rehabilitation hospital previously based in East Vancouver. Now housed inside BC Children's Hospital, the new centre helps patients and families access hospital and rehabilitative care services in one location. BCCHF also funds a variety of patient care programs, such as music therapy and meal programs. It provided 2,500 music therapy sessions and 9,000 free meals for patients in F2021.

Research was 48% of grants in F2021. The charity supports research into pediatric diseases, such as childhood cancer and diabetes. In response to the covid-19 pandemic, BCCHF helped to fund 67 new research studies on covid-19 in F2021. BC Children’s Hospital has more than 1,000 researchers on campus, and it recruited 124 new research trainees during the year.

Education made up the remaining 4% of grants. BCCHF offers online resources and funds education programs to support patients and their family members. In F2021, BC Children’s Hospital’s Diabetes Transformation Project (DTP) launched two peer support groups in F2021. One peer group brings together children with diabetes while the other provides support and resources for caregivers. During the year, BCCHF also reported more than 80,500 online event attendees and 450,000 visits to its online mental health resource centre.

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Results and Impact

BC Children's Hospital researchers are currently testing CAR T-cell therapy, a new treatment approach for children with treatment-resistant cancer. Developed by a team led by Dr. Amanda Li, the method aims to genetically engineer a child’s immune cells to recognize and fight cancer cells on their own. As of F2021, BCCHF reports that its researchers have treated five childhood cancer patients using CAR T-cell therapy.

In F2021, BCCHF also helped to buy a new infectious disease diagnostic system. It reports that the new system has reduced the average turnaround time for infectious disease testing from 14 hours to three hours.

While Ci highlights these key results, they may not be a complete representation of BC Children’s Hospital Foundation’s results and impact. This charity is not yet rated on impact (n/r).

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Finances

During F2021, BCCHF amalgamated with Sunny Hill Foundation for Children and restated its F2020 figures to exclude inter-party transfers. Figures for F2021 and F2020 are presented for the amalgamated charity, while F2019 figures are for BCCHF only.

BC Children’s Hospital Foundation is a Major 100 charity, one of Canada’s largest charities in terms of donations. It received $61.3m in donations in F2021, as well as $2.5m in government wage subsidies. Administrative costs are 11% of revenues (less investment income) and fundraising costs are 17% of donations. This results in total overhead spending of 28%. For every dollar donated to the charity, 72 cents go to the cause. This is within Ci’s reasonable range for overhead spending.

BCCHF has $445.0m in funding reserves, of which $133.4m is donor-endowed. Excluding donor-endowed funds, it can cover around 5.4 years of annual grant costs. The charity’s funding reserves contributed $71.1m in investment income in F2021, at an estimated rate of return of 20% (compared to an investment loss of $7.8m at a return of -2% in F2020). Over the last nine years, Ci estimates that BCCHF’s investment returns have averaged 6%.

BCCHF’s capital spending is negative since it received $1.2m from the sale of lottery prize homes, exceeding $95k in capital purchases.

BC Children’s Hospital Foundation discloses related party transactions. In F2021, it reported grants of $107.0m to BC Children’s Hospital, of which $42.6m was unpaid at year end. This results in total grant spending of $64.4m during the year. BCCHF also receives rent-free office space from the hospital. Its auditors state that the fair value of rent is $795k each year, which is not reflected in the charity’s operations.

According to its most recent CRA filing in F2020, BCCHF uses external fundraisers. It paid external fundraisers $1.9m to raise $3.7m in F2020, at a cost of $0.50 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 August 3, 2021 by Eric Zhao.

Financial Review


Financial Ratios

Fiscal year ending March
202120202019
Administrative costs as % of revenues 10.9%10.6%9.4%
Fundraising costs as % of donations 17.1%19.5%18.7%
Total overhead spending 27.9%30.1%28.1%
Program cost coverage (%) 539.5%614.3%773.9%

Summary Financial Statements

All figures in $000s
202120202019
Donations 61,31265,62468,660
Government funding 2,51600
Lotteries (net) 12,1128,7748,472
Investment income 71,068(7,848)12,659
Other income 1200
Total revenues 147,02066,55089,791
Grants 64,44148,99137,999
Administrative costs 8,2387,8847,227
Fundraising costs 10,46112,77312,828
Total spending 83,14069,64858,054
Cash flow from operations 63,880(3,098)31,737
Capital spending (1,085)(1,061)2,428
Funding reserves 445,032379,564366,156

Note: BCCHF reports its fundraising revenue net of expenses. Ci reallocated these expenses to fundraising costs, affecting revenues and expenses by $10.5m in F2021, $12.8m in F2020, and $12.8m in F2019. Ci excluded non-cash gains (losses) and changes in surrender values of assets, affecting revenues by ($53k) in F2021, $260k in F2020, and ($30k) in F2019. Ci reported government wage subsidies as government funding, removing the amounts included in other income. To report on a cash basis, Ci adjusted grants by changes in amounts due to BC Children’s Hospital. This affected expenses by ($42.6m) in F2021, ($7.2m) in F2020, and ($28.6m) in F2019. Ci removed amortization on a pro-rata basis from administrative and fundraising costs.

Salary Information

Full-time staff: 104

Avg. compensation: $105,306

Top 10 staff salary range:

$350k +
1
$300k - $350k
0
$250k - $300k
0
$200k - $250k
4
$160k - $200k
4
$120k - $160k
1
$80k - $120k
0
$40k - $80k
0
< $40k
0

Information from most recent CRA Charities Directorate filings for F2019

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Comments & Contact

Comments added by the Charity:

The following comment was added in 2018. New comments may be forthcoming.

BC Children’s Hospital Foundation is currently developing a new website which is expected to go live by the end of the year.

The new site will provide clearer information which can be more easily accessed and understood.  This will include information about our specific fundraising objectives, activities and donor impact.

The Foundation is committed to ongoing open communications with all of our stakeholders.

Program Cost Coverage Ratio:

The foundation believes that program cost coverage should not include assets held in endowments since these funds are to be held in perpetuity for a specific purpose as designated by the original donor. The foundation also believes the amount included in program cost coverage should be further reduced by the amount of current liabilities. This would provide a more accurate reflection of funds available to cover program costs.

 

Charity Contact

Website: www.bcchf.ca
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 778-655-9858

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