Royal Victoria Regional Health Centre Foundation
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✔
FINANCIAL TRANSPARENCY
Most recent Audited financial statements available on the charity’s website.
C
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.
79%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 79 cents are available for programs.
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OVERVIEW
About Royal Victoria Regional Health Centre Foundation:
Royal Victoria Regional Health Centre Foundation is a 2-star charity with a below average results reporting grade of C. For every dollar donated, 79 cents are available to go towards the cause. Its reserve funds can cover four years and ten months of annual program costs.
Established in 1982, Royal Victoria Regional Health Centre Foundation (RVHF) is the fundraising arm for Royal Victoria Regional Health Centre (RVH) in Barrie, Ontario. The foundation provides funding to improve patient care through the purchase of medical equipment. In 2022, RVHF granted $11.3m, up 305% from the $2.8m granted in 2021.
The money RVHF grants to RVH is mainly spent on medical equipment. In 2022, RVHF funded the purchases of one MRI/Ultrasound Fusion, four new mammography units, and one new PET-CT Scanner. RVHF expects that the new scanner will likely perform more than 200,000 scans in its lifetime.
In October 2022, Royal Victoria Regional Health Centre Foundation launched a new capital fundraising campaign: Keep Life Wild. The goal is to raise $100 million in support of RVH’s expansion plans.
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Results and Impact
Charity Intelligence found that RVHF reported many stories but no quantified data on its results. This may not be a complete representation of Royal Victoria Regional Health Centre Foundation’s results and impact. This charity has not yet been rated on impact (n/r).
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Finances
In 2022, RVHF received $15.1m in donations, up 284% from $3.9m in 2021. In 2022, RVHF also received $59k in donated goods and $759k in special events revenue. Combined administrative and fundraising costs are 21% of total revenues. For every dollar donated, 79 cents are available to go towards the cause. This is within Ci’s reasonable range for overhead spending. In 2023, RVHF granted $11.3m which represents 69% of total revenue.
In 2022, RVHF had reserve funds of $54.5m. These reserved funds are enough to cover four years and ten months of annual program costs.
Profile updated on July 18, 2024 by Abby Stout.
Financial Review
Fiscal year ending December
|
2022 | 2021 | 2020 |
|---|---|---|---|
| Fundraising & admin costs as % of revenues | 20.6% | 48.1% | 35.8% |
| Program cost coverage (%) | 483.1% | 1,906.4% | 4,667.2% |
Summary Financial StatementsAll figures in $000s |
2022 | 2021 | 2020 |
|---|---|---|---|
| Donations | 15,086 | 3,933 | 4,405 |
| Goods in kind | 59 | 12 | 79 |
| Special events | 759 | 803 | 680 |
| Investment income | 393 | 1,843 | 790 |
| Total revenues | 16,297 | 6,592 | 5,953 |
| Grants | 11,285 | 2,785 | 1,116 |
| Fundraising & administrative costs | 3,277 | 2,284 | 1,848 |
| Other costs | 179 | 190 | 175 |
| Cash flow from operations | 1,557 | 1,333 | 2,814 |
| Funding reserves | 54,514 | 53,103 | 52,097 |
Note: INVESTMENT FEES: Ci added the investment fees to investment income. This increased total revenues and expenses by $179k in 2022, $190k in 2021, and $175k in 2020. DONATED GOODS: Ci included donated goods in kind affecting total revenues by $59k in 2022, $12k in 2021, and $79k in 2020. GRANTS: Ci included distributions to RVH as a program expense. This increased total expenses by $11.7m in 2022, $2.7m in 2021, and $1.1m in 2020. RELATED PARTY TRANSACTIONS: Ci adjusted for the changes in related party transactions. This affected total expenses by ($394k) in 2022, $132k in 2021, and $13k in 2020.
Salary Information
$350k + |
1 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
1 |
$120k - $160k |
1 |
$80k - $120k |
6 |
$40k - $80k |
1 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2022
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Comments & Contact
Comments added by the Charity:
Charity Contact
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