Surrey Hospitals 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.
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.
85%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 85 cents are available for programs.
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OVERVIEW
About Surrey Hospitals Foundation:
Surrey Hospitals Foundation is a 2-star charity. The charity has a below average results reporting grade and large funding reserves that could cover over eight years of program costs. Before you give, read Charity Intelligence’s report.
Surrey Hospitals Foundation (SHF) works to improve the quality of healthcare in British Columbia’s Fraser Valley area. It grants money to three health centres in the community. First, it grants to Surrey Memorial Hospital which includes one of the busiest maternity units in the country. Second, it grants to Jim Pattison Outpatient Care & Surgery Centre with 100 exam rooms and six operating rooms. Finally, SHF grants to Czorny Alzheimer Centre which supports 72 dementia patients.
With its grants, Surrey Hospitals Foundation funds capital equipment & projects, research & education, and patient comfort items.
In F2022, the foundation allocated 69% of funding to capital equipment and projects. Overall, SHF funded 376 pieces of equipment. In addition, it funded a microsurgical lymphatic reconstruction program to teach doctors new techniques for work related to lymph nodes. This program helped doctors perform two new microsurgeries in F2022.
In F2022, research and education made up 18% of total program spending. This helps advance research projects in the health field and train doctors new techniques. In F2022, SHF worked with BMO Financial Groups to give out the BMO Education Grant worth $250,000. This grant went to improve training for 25 pediatric nurses.
In F2022, patient comfort items made up 13% of total program spending. Surrey Hospitals Foundation funded a portable vein finder which made it easier to draw blood and insert IVs for patients. In F2022, the Foundation also funded many mobility aids including walkers and transport chairs.
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Results and Impact
Charity Intelligence found Surrey Hospitals Foundation reported many stories but few results on its work.
While Ci highlights these key results, they may not be a complete representation of Surrey Hospitals Foundation's results and impact. This charity is not yet rated on impact (n/r). This lack of impact rating does not affect the star rating on Surrey Hospitals Foundation.
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Finances
Surrey Hospitals Foundation received total donations of $15.3m in F2022. It reported salaries, wages, and benefits which covered staff for both administrative and fundraising purposes. As such, administrative and fundraising costs were reported together and made up 15% of revenues. For every dollar donated, 85 cents go to the cause. This is within Ci’s reasonable range for overhead spending.
The charity has total funding reserves of $39.1m. Donor endowed funds of $3.5 million are excluded. Surrey Hospitals Foundation's funding reserves (excluding its donor endowments) can cover program costs for about eight years and six months.
Charity Intelligence has sent this update to Surreys Hospital Foundation for review. Changes and edits may be forthcoming.
Updated on June 23, 2023, by Clive Stevens.
Financial Review
Fiscal year ending March
|
2022 | 2021 | 2020 |
---|---|---|---|
Fundraising & admin costs as % of revenues | 15.0% | 22.5% | 28.8% |
Total overhead spending | 15.0% | 22.5% | 28.8% |
Program cost coverage (%) | 803.2% | 721.2% | 426.6% |
Summary Financial StatementsAll figures in $000s |
2022 | 2021 | 2020 |
---|---|---|---|
Donations | 15,258 | 8,008 | 6,891 |
Investment income | 812 | 702 | 475 |
Total revenues | 16,070 | 8,710 | 7,365 |
Program costs | 0 | 0 | 0 |
Grants | 4,608 | 3,718 | 5,028 |
Fundraising & administrative costs | 2,289 | 1,800 | 1,987 |
Total spending | 6,896 | 5,518 | 7,015 |
Cash flow from operations | 9,174 | 3,192 | 350 |
Capital spending | 0 | 0 | 0 |
Funding reserves | 39,121 | 28,815 | 23,275 |
Note: Ci excluded endowment funds in the calculation of the foundation’s funding reserves. This includes the Arthur and Irene Bourassa Endowment Fund and the Leonard and Joan Leece Endowment Fund. This affected funding reserves by $3.5m in F2022, $3.1m in F2021, and $2.3m in F2020.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
1 |
$160k - $200k |
2 |
$120k - $160k |
0 |
$80k - $120k |
3 |
$40k - $80k |
4 |
< $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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