Montreal Children's Hospital Foundation

1420-3400, de Maisonneuvre Blvd. West
Montreal, QC H3Z 3B8
President: Marie-Josée Gariépy
Board Chair: Jonathan Amiel

Website: www.childrenfoundation.com
Charitable Reg. #: 11892 1543 RR0001
Sector: Health - Hospital Foundation
Public Foundation

Donor Accountability

Grade: B-

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

Financial Transparency

Audited financial statements for current and previous years available on the charity's website [ Audited financial statement for most recent year ]

Need for Funding

donor
endowed
Funding Reserves Program Costs

Spending Breakdown

Full-time staff #37

Avg. Compensation $78,319

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 1
$160k - $200k 0
$120k - $160k 5
$80k - $120k 4
$40k - $80k 0
< $40k 0
Information from most recent CRA Charities Directorate filings for F2016

About Montreal Children's Hospital Foundation:

Established in 1973, Montreal Children’s Hospital Foundation works to support excellence in care at the Montreal Children's Hospital of the McGill University Health Centre. The foundation raises funds to support research, acquire cutting-edge equipment, and develop innovative clinical programs.

In May, 2015, the hospital moved into a new location with 154 single-patient rooms, 6 operating rooms and 6 intervention rooms. The foundation’s F2016 annual report states that the hospital has 1,758 physicians, surgeons, nurses, and other healthcare professionals. Of 99,515 patients that visited the hospital, 5,641 were admitted and 6,787 surgeries were performed.

In F2016, the foundation granted $16.9m which was distributed across equipment, research, and special projects. Of this, $4.1m (24% of total grants) went towards research equipment and services including teaching. Current research and clinical trials by Montreal Children’s Hospital aim to teach the immune system to overcome allergies. The program currently has 6 participants involved per month with dairy allergies and has had a 70% success rate. Researchers are confident that with increased funding, the study can reach more people and overcome a more diverse range of allergies.

Hospital equipment and services accounted for $2.4m (14%) of total grants and went towards equipment for the surgery, neurosurgery, and cardiology departments, and the hospital’s Pediatric Intensive Care Unit. Restricted contributions made up $2.5m (16%) of the total grants, while $7.8m (46%) went towards renovations, rent and other priorities, including $4.2m as a first installment of the Best Care for Children campaign. This campaign raised $105m for the construction of the new hospital, which opened in May, 2015.

Financial Review:

Montreal Children’s Hospital Foundation is a Major 100 charity with $20.7m in donations in F2016. The foundation reports that 78% of donations come from foundations, community groups, and individuals, while 22% come from corporate support.

Administrative costs were 20% of revenues and fundraising costs were 7% of donations. As such, for every $1 donated, 73 cents went to the cause. This falls within Charity Intelligence’s reasonable range for overhead spending. Montreal Children’s Hospital Foundation has $82.3m in investments. In F2016, the overall return on these investments was -3%.

Total funding reserves are $108.2m, of which $99.9m are donor-endowed. In total, Montreal Children’s Hospital Foundation has enough funds to cover annual grants 6.4 times. Excluding donor-endowed funds, reserves can cover 8 months of grants.

This charity report is an update that is currently being reviewed by Montreal Children’s Hospital Foundation. Changes and edits may be forthcoming.

Updated on June 9, 2017 by Juliana Badovinac.

Financial Ratios

Fiscal year ending March
201620152014
Administrative costs as % of revenues 19.7%19.0%18.3%
Fundraising costs as % of donations 7.1%7.4%6.5%
Program cost coverage (%) 639.0%894.4%852.0%

Summary Financial Statements

All figures in $000s
201620152014
Donations 20,72920,93321,093
Investment income (2,123)7,1529,219
Total revenues 18,60628,08530,313
Grants 16,93012,48112,083
Administrative costs 3,8093,6923,635
Fundraising costs 1,4791,5391,371
Other costs 275278227
Cash flow from operations (3,887)10,09512,997
Funding reserves 108,188111,623102,949
Note: Investment income was initially reported net of investment management and custodian fees. Ci reallocated these fees as expenses, increasing revenue and expenses by $275k in F2016, $278k in F2015, $227k in F2014.

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