Princess Margaret Cancer Foundation is a 3-star charity. It has a B- Results Reporting grade, which is below average. It holds reserves that can cover annual grant costs for over three years, outside of Ci's reasonable range. For every dollar donated, 63 cents are available to go to the cause, which is outside of Ci's reasonable range. 

Founded in 1982, Princess Margaret Cancer Foundation (PMCF) funds research, education and patient care at Princess Margaret Cancer Centre (PMCC). This Centre is a part of the University Health Network (UHN) in Toronto. It treats over 200 types of cancer and treats more than 18,000 new patients from around the world each year. Currently, cancer is the number one cause of death in Canada, with two in five Canadians developing cancer in their lifetime. PMCC launched its new Strategic Plan for 2023 and beyond, “Always Moving Forward”, that is based on three strategic pillars: elevate, explore and inspire.

In F2025, PMCF spent $203.9m on grants. Of which, $198.6m went to the Princess Margaret Cancer Centre and $5.3m went to other qualified donnees.

Research, Education and Patient Care represented 84% of grants in F2025. The charity does not provide a spending breakdown between these different areas. Almost one in five patients (23%) at the Princess Margaret’s Cancer Clinical Research Unit are enrolled in clinical trials, exceeding provincial and national levels. The charity reports that each year, PMCC begins over 170 new clinical trials and at any one time it has over 500 clinical trials underway. In F2025, 10,924 patients participated in clinical trials. The hospital treated 19,883 patients across 200 different types of cancers. PMCC completed a record 200 allogenic bone marrow transplants in F2025. The charity reports it funded 2,146 researchers in F2025.

Building represented 9% of grants in F2025. PMCF grants money to PMCC to purchase buildings to improve the quality and capacity of research and care. In F2025, PMCC acquired 522 University Avenue, a 15-storey building with over 210,000 square feet.

Equipment and Other Grants represented the remaining 7% of grants in F2025. In F2025, PMCF funded the purchase and installation of new radiation equipment.  

Princess Margaret Cancer Foundation’s audited financial statements use activity-based costing, which is a best practice.

Princess Margaret Cancer Foundation received $122.0m in donations and special events revenue in F2025. The charity spent $203.9m on its grants, which is 88% of revenue. In F2025, PMCF recorded a deficit of $20.0m.

PMCF spent $36.5m on fundraising, which is 30% of donations, and $11.2m on administration, which is 7% of revenue (excluding investment income). Total overhead spending is 37%. For every dollar donated, 63 cents are available to go to the cause, which is outside of Ci’s reasonable range. 

PMCF has $869.3m in reserve funds (cash and investments), of which, $230.7m is donor endowed. Excluding donor-endowed funds, the charity’s reserves can cover almost 3 years and 4 months of its annual grant costs, which is outside of Ci’s reasonable range.

PMCF’s $869.3m in reserves returned $77.2m in investment income, at a 9% rate of return. Over the past five years, the charity’s reserves average an 8% return.

In F2025, PMCF ran a lottery that raised $138.8m and returned $21.7m, net of expenses. For every dollar the charity earned through its lottery, 16 cents were available to go to the cause.

Princess Margaret Cancer Foundation has $62.2m in commitments. The charity has committed $4.4m in 2026, 2027, 2028, 2029, and 2030. It has also committed $40.0m thereafter.

This charity report is an update that has been sent to Princess Margaret Cancer Foundation for review.

Updated on July 15, 2025 by Liam Chapleau.