BC Cancer Foundation
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✔+
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.
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 BC Cancer Foundation:
BC Cancer Foundation is a 3-star rated charity with an average results reporting grade. The charity is financially transparent and has funding reserves that can cover over nine years of annual program costs.
Founded in 1935, BC Cancer Foundation (BCCF) raises money for BC Cancer. BC Cancer runs six regional cancer centres in Abbotsford, Kelowna, Prince George, Surrey, Vancouver, and Victoria. These centres provide the full spectrum of cancer care to people living in BC, including prevention, diagnosis, treatment, and palliative care. BC Cancer also conducts cancer research. The Foundation’s grants fund research, major equipment purchases, and patient care. BCCF reports distributing $25.6m in grants to BC Cancer in F2022, including $133k in deferred grants to be paid in future years.
Research accounted for 85% of program spending in F2022. Funding goes to research on cancer prevention, detection, and precision medicine. The Personalized Onco-Genomics (POG) program is a precision medicine initiative that creates tailored treatment options for metastatic cancer patients using genomics. By reading a patient’s genome to find the cancer-driving genetic markers, doctors can better understand the root cause of cancer and direct the patient to an appropriate targeted therapy clinical trial, if possible. In F2022, BCCF enrolled 95 new participants in its genome-based trials. In addition, BC Cancer Foundation funded more than 120 cancer clinical trials, with over 800 participants.
Equipment represented 12% of grants in F2022. BCCF funded Prostate-Specific Membrane Antigen (PSMA)-PET imaging technology. According to the charity, PSMA-PET imaging is more accurate at detecting the spread of prostate cancer — 85% compared to 35% for conventional scans. The Foundation also funded a dental suite in BC Cancer, Abbotsford. The dental suite will provide service for cancer patients who require specialized treatment from an oral oncology expert.
The remaining 3% of grants in F2022 were for enhancements to patient care.
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Results and Impact
In F2020, BC Cancer researchers discovered new information about how Hodgkin lymphoma cells can grow undetected in the body and how they interact with other cells in the tumour micro-environment. The findings, published in Cancer Discovery, show that the body’s immune cells hide these lymphoma cells, sometimes even forming a shield around them. Lymphoma cells hijack normal immune cells, turning them into cancer-supporting, immune-suppressing cells. This discovery will help doctors develop better-personalized treatment options for patients.
In a research project funded by BC Cancer Foundation, Dr. Gillian Hanley published conclusive results proving that opportunistic salpingectomy (OS) — the removal of the fallopian tubes during a hysterectomy or instead of tubal ligation — significantly reduces ovarian cancer risk. Among a 58,000-participant group who underwent OS, researchers did not find a severe ovarian cancer diagnosis.
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Finances
BC Cancer Foundation is a Major 100 charity, meaning it is one of the country’s largest in terms of Canadian donations. It received $61.3m in donations and special events fundraising in F2022. Administrative costs are 8% of revenues (excluding investment income), and fundraising costs are 13% of donations and special events fundraising. For every dollar donated, 79 cents go to the cause. This is within Ci’s reasonable range for overhead spending.
Funding reserves of $237.6m include $70.3m in endowed funds. BCCF’s audited financial statements do not disclose how much of these funds are donor endowed. Including all endowed funds, the Foundation’s reserves can cover annual granting activities at current levels for 9.3 years or 7.2 years based on average program costs over the past three years.
BC Cancer Foundation reports using external fundraisers as part of its fundraising efforts in its most recent F2021 T3010 filing. In F2021, it paid $260k to external fundraisers that raised $2.6m. With an external fundraising ratio of 10%, BC Cancer Foundation received 90 cents of every dollar donated to external fundraisers.
This report is an update that has been sent to BC Cancer Foundation for review. Comments and edits may be forthcoming.
Updated on July 4, 2022 by Ann Lei.
Financial Review
Fiscal year ending March
|
2022 | 2021 | 2020 |
|---|---|---|---|
| Administrative costs as % of revenues | 7.5% | 10.1% | 7.4% |
| Fundraising costs as % of donations | 13.4% | 18.6% | 23.5% |
| Total overhead spending | 20.9% | 28.7% | 30.9% |
| Program cost coverage (%) | 932.6% | 680.5% | 532.3% |
Summary Financial StatementsAll figures in $000s |
2022 | 2021 | 2020 |
|---|---|---|---|
| Donations | 55,047 | 39,067 | 43,797 |
| Government funding | 4,196 | 1,445 | 10,000 |
| Special events | 6,238 | 3,225 | 11,332 |
| Investment income | 8,568 | 44,973 | (5,453) |
| Other income | 2,699 | 820 | 1,515 |
| Total revenues | 76,748 | 89,530 | 61,191 |
| Grants | 25,478 | 29,851 | 31,045 |
| Administrative costs | 5,121 | 4,520 | 4,934 |
| Fundraising costs | 8,199 | 7,854 | 12,944 |
| Total spending | 38,798 | 42,225 | 48,923 |
| Cash flow from operations | 37,950 | 47,305 | 12,268 |
| Funding reserves | 237,597 | 203,147 | 165,255 |
Note: Ci adjusted grants for changes in accounts payable to BC Cancer, affecting total expenses by ($133k) in F2022, $1.0m in F2021, and ($1.3m) in F2020. Investment income includes the value of unrealized gain (loss) affecting total revenue by ($330k) in F2022, $19.5m in F2021, and $11.4m in F2020. Ci adjusted for fair value adjustments on assets affecting revenue and expenses by $14k in F2022, $19.7m in F2021, and ($11.5m) in F2020. The F2022 T3010 data was not available at the time of this update.
Salary Information
$350k + |
1 |
$300k - $350k |
1 |
$250k - $300k |
0 |
$200k - $250k |
1 |
$160k - $200k |
5 |
$120k - $160k |
2 |
$80k - $120k |
0 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2021
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Comments & Contact
Comments added by the Charity:
Charity Contact
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