1001-522 University Avenue
Toronto, ON M5G 1W7
CEO: Louis de Melo
Board Co-Chair: Maxine Granovsky Gluskin

Charitable Reg. #:11904 8106 RR0001


Ci's Star Rating is calculated based on the following independent metrics:

[Charity Rating: 3/5]



Audited financial statements for current and previous years available on the charity’s website.



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



The demonstrated impact per dollar Ci calculates from available program information.


Charity's cash and investments (funding reserves) relative to how much it spends on programs in most recent year.



For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 81 cents are available for programs.

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About Sinai Health Foundation:

Founded in 1975 as Mount Sinai Hospital Foundation, Sinai Health Foundation (SHF) rebranded in 2016 after the amalgamation of Mount Sinai Hospital, Bridgepoint Active Healthcare, Lunenfeld-Tanenbaum Research Institute (LTRI), and Circle of Care. SHF raises money to improve patient care and hospital equipment across the Sinai Health System in Toronto. Mount Sinai Hospital was ranked the third-best Canadian hospital in Newsweek's World's Best Hospitals 2020, and ranked 29th in the world.

In F2021, SHF granted $19.5m for clinical care and capital projects, as well as $11.0m in unpaid grants from prior years.

Clinical care represented 62% of grants. According to its count in F2021, Mount Sinai Hospital receives an average of 25,619 admissions and 42,886 emergency visits each year. The hospital specializes in acute care, maternal and infant health, chronic disease management, cancer care, and emergency medicine. Bridgepoint Active Healthcare is a rehabilitation and complex care hospital, receiving an average of 7,049 outpatients each year. Housed in Mount Sinai Hospital, the Lunenfeld-Tanenbaum Research Institute conducts research on human health and diseases. Working with the University Health Network, its testing lab helped to administer more than 1.5 million covid-19 tests in F2021. As a senior home care provider, Circle of Care provided 1.2 million hours of support to 10,180 clients in F2021. It offers seniors a variety of home services, such as meal delivery, exercise classes, fall prevention, counselling, and hospice care.

Capital projects were 38% of grants in F2021. Sinai Health Foundation is currently undertaking the Renew Sinai project, the largest redevelopment project in Mount Sinai Hospital’s history. The multi-year project aims to renovate the hospital’s facilities to improve patient experience and care. Through the project, SHF has expanded the hospital’s Post-Anesthesia Care Unit, adding 48 bays with new equipment. It also funded a new Family Lounge and a new Robotics Suite with a daVinci Xi surgical robot for minimally invasive surgeries. SHF is in the process of repainting the hospital with calming colours and adding scenic backdrops to improve patient experience.

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Results and Impact

In F2021, Dr. Jeff Wrana and Dr. Laurence Pelletier of the LTRI helped to develop a new covid-19 testing method. SHF reports that its new testing method allowed for 50 to 100 times the number of tests to be run at once, compared to existing methods. Throughout F2021, the testing lab performed around 10,000 covid-19 tests each day.

While Ci highlights these key results, they may not be a complete representation of Sinai Health Foundation’s results and impact. This charity is not yet rated on impact (n/r).

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Sinai Health Foundation is a Major 100 charity, one of Canada’s largest charities in terms of donations. It received $66.1m in donations and special events revenue in F2021. It also received $594k in government wage subsidies during the year. Combined administrative and fundraising costs are 19% of revenues (less investment income). For every dollar donated to the charity, 81 cents go to the cause. This is within Ci’s reasonable range for overhead spending.

SHF has $211.3m in net funding reserves, of which $129.9m is donor-endowed. Excluding donor-endowed funds, the charity can cover around 3.4 years of annual grant costs with its existing reserves. Its funding reserves contributed $17.5m in investment income in F2021, at an estimated rate of return of 12% (compared to an investment loss of $601k at a return of -0.4% in F2020). Over the last eight years, Ci estimates that SHF’s investment returns have averaged 7%.

Sinai Health Foundation discloses related party transactions. In F2021, it distributed $19.5m in grants and $11.0m in unpaid grant balances from prior years. It also paid $492k to reimburse the Sinai Health System’s administrative costs during the year. In F2021, SHF received donations of $993k from Mount Sinai Services Inc., which Ci reclassified as other income. The charity also received funding from two other related parties for service reimbursements ($244k from Arthritis Research Foundation and $200k from Bridgepoint Foundation), but its financial statements do not disclose where this funding is allocated in revenues.  

According to its most recent CRA filing in F2020, Sinai Health Foundation uses external fundraisers. It paid external fundraisers $131k in F2020, but does not report how much they raised. This is a mandatory filing.

Charity Intelligence has sent this update to Sinai Health Foundation for review. Changes and edits may be forthcoming.

Updated on August 3, 2021 by Eric Zhao.

Financial Review

Financial Ratios

Fiscal year ending March
Fundraising & admin costs as % of revenues 19.5%28.3%28.5%
Total overhead spending 19.5%28.3%28.5%
Program cost coverage (%) 338.8%340.6%234.3%

Summary Financial Statements

All figures in $000s
Donations 64,18446,71537,702
Government funding 59400
Special events 1,8995,5473,991
Investment income 17,512(601)7,180
Other income 1,3059471,873
Total revenues 85,49552,60850,745
Grants 30,54323,55623,619
Fundraising & administrative costs 13,23915,04512,396
Total spending 43,78238,60136,015
Cash flow from operations 41,71314,00714,730
Capital spending 11142828
Funding reserves 211,339170,013156,347

Note: Ci included investment income from endowment funds and the Sinai Trust 2017, affecting revenues by $16.7m in F2021, ($2.0m) in F2020, and $6.1m in F2019. According to its financial notes, Sinai Health Foundation reported salaries and benefits net of government wage subsidies in F2021. Ci reclassified wage subsidies as government funding and added back the amounts to overhead costs, affecting revenues and expenses by $594k in F2021. Ci reclassified funding from Mount Sinai Services Inc. as other income and removed the amounts included in donations. To report on a cash basis, Ci adjusted grants by changes in amounts due to Sinai Health System. This affected revenues and expenses by $11.0m in F2021, ($10.1m) in F2020, and ($2.1m) in F2019. Ci removed amortization from combined overhead costs.

Salary Information

Full-time staff: 62

Avg. compensation: $137,847

Top 10 staff salary range:

$350k +
$300k - $350k
$250k - $300k
$200k - $250k
$160k - $200k
$120k - $160k
$80k - $120k
$40k - $80k
< $40k

Information from most recent CRA Charities Directorate filings for F2020

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Comments & Contact

Comments added by the Charity:

No comments have been added by the charity.

Charity Contact

Website: www.supportsinai.ca
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 416-586-8203


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Charitable Registration Number: 80340 7956 RR0001