London Health Sciences Foundation
London, ON N6C 2R6
President & CEO: John MacFarlane
Board Chair: Tod Warner
Charitable Reg. #: 89478 1475 RR0001
Grade: B-The grade is based on the charity's public reporting of the work it does and the results it achieves.
Need for Funding
Full-time staff #48
Avg. Compensation $91,123
Top 10 Staff Salary Range
|$300k - $350k||0|
|$250k - $300k||0|
|$200k - $250k||2|
|$160k - $200k||2|
|$120k - $160k||1|
|$80k - $120k||4|
|$40k - $80k||0|
About London Health Sciences Foundation:
Founded in 1996 through the merger of University Hospital’s and Victoria Hospital’s associated foundations, London Health Sciences Foundation (LSHF) is the fundraising arm for London Health Sciences Centre (LHSC). LHSC consists of University Hospital, Victoria Hospital, Children’s Hospital, South Street Annex, Lawson Health Research Institute and 2 family medical centres in London, ON.
LHSC identifies fundraising priorities based on its medical needs and future plans that it reports to the Foundation. LHSF then matches its donors’ goals with the identified high-priority needs of LHSC through four major funding buckets: research, education, facilities and equipment, and patient care. LHSF alternatively divides its funding based on the type of medical care that the funding goes towards, including brain health, surgical care, high-priority needs, cardiac care, cancer care, and other care areas such as mental health, orthopaedic and women’s care.
London Health Sciences Foundation’s total disbursements of $13.9m include $10.7m for research and education, $1.9m for capital projects (facilities and equipment), and $1.3m for patient care. LHSF’s research funding goes toward research projects that will advance health care in Ontario. Its education funding includes fellowships, training programs for nurses and doctors, and educational programs for patients and the London community. Facilities and equipment funding helps finance technology purchases that allow hospital staff to treat patients with up-to-date equipment. Through patient care, LHSF funds projects that directly affect a patient’s experience at LHSF-funded hospitals, including patient assistance programs.
London Health Sciences Foundation is one of Canada’s top 100 largest charities in terms of donations, with total donations and special events revenue of $23.1m in F2016. Based on standard Ci analysis, administrative costs are 6% of revenues and fundraising costs are 23% of donations and special events income. $0.29 of every donated dollar goes to overhead costs, which falls within Ci’s reasonable range for overhead spending. However, LHSF’s website states that Canadian donations do not go towards general operating costs.
LHSF reports gross investment income of $1.9m in F2016, with unrealized losses of $1.1m and direct investment fees of $236k. Net investment income of $588k earned a 1% return on investment in F2016 (F2015: 9%). Of the Foundation’s $48.8m in investments, 41% are equities and 39% are bonds.
London Health Sciences Foundation holds funding reserves of $65.0m in F2016, of which $15.8m are held in its Endowment Fund. Excluding endowed funds, LHSF’s reserves can cover annual funding activities for 3.7 years according to Ci analysis. LHSF's funding activities are reported under grants in the summarized financial statements below.
LHSF also notes that its disbursements are not made at a steady rate from year to year, making program cost coverage difficult to predict for future years.
This charity report is an update that is currently being reviewed by London Health Sciences Foundation. Changes and edits may be forthcoming.
Updated on August 25, 2016 by Katie Khodawandi.
Financial RatiosFiscal year ending March
|Administrative costs as % of revenues||5.5%||4.9%||4.5%|
|Fundraising costs as % of donations||23.0%||31.0%||32.2%|
|Program cost coverage (%)||466.9%||561.4%||421.9%|
Summary Financial StatementsAll figures in $000s
|Business activities (net)||0||1,269||2,887|
|Cash flow from operations||3,672||6,419||3,993|