Mackenzie Health Foundation

303-955 Major Mackenzie Dr W
Vaughan, ON L6A 4P9
President & CEO: Ingrid Perry
Board Chair: Enzo Morini

Website: www.mackenziehealthfoundation.ca
Charitable Reg. #: 11930 6215 RR0001
Sector: Health - Hospital Foundation
Public Foundation

Donor Accountability

Grade: C

The grade is based on the charity's public reporting of the work it does and the results it achieves.

Financial Transparency

Most recent audited financial statements available on the charity's website [ Audited financial statement for most recent year ]

Need for Funding

Funding Reserves Program Costs

Spending Breakdown

Full-time staff #22

Avg. Compensation $97,052

Top 10 Staff Salary Range

$350k + 1
$300k - $350k 0
$250k - $300k 0
$200k - $250k 1
$160k - $200k 1
$120k - $160k 2
$80k - $120k 5
$40k - $80k 0
< $40k 0
Information from most recent CRA Charities Directorate filings for F2016

About Mackenzie Health Foundation:

Established in 1977, Mackenzie Health Foundation raises money for capital projects, medical equipment, technology and educational opportunities for Mackenzie Health locations in Richmond Hill and Vaughn, Ontario. Its mission is to “inspire inspirational gifts”. In F2016, Mackenzie Health Foundation granted $1.8m, of which $1.6m went towards equipment and renovations. Mackenzie Health Volunteer Association raised $500k for a new MRI machine for the hospital and have pledged to raise another $250k for the purchase of 10 fetal monitors.

Mackenzie Health Foundation is currently in a capital campaign to raise $250m to build Mackenzie Vaughn Hospital. The hospital will be designed as a smart hospital, focusing on delivering technologically advanced healthcare solutions. With 1.2 million square feet of space, 350 beds, and an estimated 75,000 visits annually, the new hospital aims to employ 1800 full-time staff and an additional 100 physicians.  

In total, 7,824 donors gave 16,572 gifts totaling $9.5m to the foundation in F2016, of which $5.8m was committed for the new Mackenzie Vaughn Hospital.

Financial Review:

Mackenzie Health Foundation is a big-cap charity with $9.5m in donations and special events revenues in F2016. Administrative costs were 12% of revenues and fundraising costs were 32% of donations. As such, for every $1 donated, 56 cents went to the cause. This does not fall within Charity Intelligence’s reasonable range for overhead spending. The foundation has funding reserves of $25.5m, which can cover annual grants 13.9 times.

This charity report is an update that is currently being reviewed by Mackenzie Health Foundation. Changes and edits may be forthcoming.

Updated on June 14, 2017 by Juliana Badovinac.

Financial Ratios

Fiscal year ending March
201620152014
Administrative costs as % of revenues 11.9%15.0%17.7%
Fundraising costs as % of donations 32.0%32.5%32.8%
Program cost coverage (%) 1,391.2%558.0%1,146.1%

Summary Financial Statements

All figures in $000s
201620152014
Donations 6,4284,9144,293
Special events 3,0662,8762,462
Investment income 4431,9521,439
Total revenues 9,9389,7428,194
Grants 1,8363,8751,688
Administrative costs 1,0761,1221,160
Fundraising costs 3,0412,5332,217
Other costs 564536
Cash flow from operations 3,9292,1673,092
Funding reserves 25,54021,62019,347
Note: Investment management and custodial fees were reallocated from net investment income to administration expenses, increasing revenues and expenses by $56k in F2016, $45k in F2015, and $36k in F2014.

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