Sinai Health Foundation

1001-522 University Avenue
Toronto, ON M5G 1W7
Acting CEO: Kevin Goldthorp
Secretary: Les Viner

Website: www.supportsinai.com
Charitable Reg. #: 11904 8106 RR0001
Sector: Health - Hospital Foundation
Public Foundation

Charity Rating

[Charity Rating: 4/4]

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 #48

Avg. Compensation $111,279

Top 10 Staff Salary Range

$350k + 1
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 4
$120k - $160k 2
$80k - $120k 3
$40k - $80k 0
< $40k 0
Information from most recent CRA Charities Directorate filings for F2015

About Sinai Health Foundation:

On February 1, 2016, the Mount Sinai Hospital Foundation officially changed its name to Sinai Health Foundation.  This name change was due to the formation of Sinai Health System, a new organization that resulted from a voluntary amalgamation between Mount Sinai Hospital, Bridgepoint Active Healthcare, Lunenfeld-Tanenbaum Research Institute and Circle of Care, a home care health provider. Together, the collective organizations are building a "vertically integrated" health care providing research, treatment, rehab and home care. The aim is to provide patients with better care and smoother transitions.   

Sinai Health Foundation fundraises for research, patient care, and clinical education at Sinai Health System. In F2015, the foundation granted $25m to the  Mount Sinai Hospital and $10m to the Lunenfeld-Tanenbaum Research Institute.  In F2015, the  Mount Sinai Hospital had 60,930 emergency department visits, 745,319 ambulatory clinic visits, 183,697 medical imaging procedures, 6,599 births, and 16,156 surgeries.

The foundation passed the halfway mark for the $500m Renew Sinai Campaign, raising $255m as of F2015.  The donations from this campaign will be used to revitalize, rethink, and redesign every major area of care in the Sinai Health System. 

Financial Review:

In F2015, the Sinai Health Foundation's administrative costs were 8% of revenues, while fundraising costs were 11% of donations. Total overhead costs of 19% fall within Ci's reasonable range. The charity has funding reserves of $106m,  including donor-endowed funds of $94m. The total funding reserve can cover annual grants and programs for 3 years or 11 months excluding donor-endowed funds.

Analysis updated by Ruoxi Gao in 2016, currently under review by the Sinai Health Foundation.

 

Financial Ratios

Fiscal year ending March
201520142013
Administrative costs as % of revenues 8.2%5.0%7.5%
Fundraising costs as % of donations 10.9%9.1%17.7%
Program cost coverage (%) 299.0%263.4%195.4%

Summary Financial Statements

All figures in $000s
201520142013
Donations 43,06858,62030,952
Investment income 8,1815,7543,719
Total revenues 51,25064,37434,670
Program costs 74206293
Grants 35,29735,32534,099
Administrative costs 3,9043,1462,812
Fundraising costs 5,1595,7006,675
Cash flow from operations 6,81619,998(9,209)
Funding reserves 105,76893,57867,207
Note: Ci used fundraising allocations from the charity's T3010 CRA filings as the charity did not report fundraising costs separately from administration costs on its audited financial statements.

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