Lakeridge Health
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✔+
FINANCIAL TRANSPARENCY
Audited financial statements for current and previous years available on the charity’s website.
C+
RESULTS REPORTING
Grade based on the charity's public reporting of the work it does and the results it achieves.
n/r
DEMONSTRATED IMPACT
The demonstrated impact per dollar Ci calculates from available program information.
NEED FOR FUNDING
Charity's cash and investments (funding reserves) relative to how much it spends on programs in most recent year.
59%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 59 cents are available for programs.
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OVERVIEW
About Lakeridge Health:
Lakeridge Health Foundation is a 2-star charity. It has a below average results reporting grade of C+. For every dollar donated, 59 cents are available to go towards the cause. Its reserve funds can cover grants for 16.6 years. Before you give, read Charity Intelligence’s report.
Founded in 1975, Lakeridge Health Foundation (LHF) fundraises and provides grants to Lakeridge Health in Durham Region. Its main focus areas are patient care and treatment, equipment, research and innovation, and education. In fiscal 2024 (year ended March), LHF spent $3.9m on its programs and grants. Lakeridge Health Foundation did not provide a breakdown for this spending.
Patient Care and Treatment: A portion of the granted money goes towards improving patient care at Lakeridge Health Hospital (LHH). In F2024, LHH reported 440,772 clinic visits, 52,335 surgeries, 204,551 emergency visits, and 4,261 births. Lakeridge Health Foundation has a large focus on cancer care. In F2024, LHH reported 40,600 radiation treatments, 100,000 families accessing Cancer Care services, and 7,000 new cancer patients.
Equipment: Lakeridge Health Foundation raises money for new equipment at LHH. In F2024 LHF funded the purchase of 44 new dialysis machines, 50 new smart IV pumps, one new infectious disease clinic, and a new Da Vinci Surgical Robot.
Research and Innovation: LHF funds research and innovation to find new treatments and cures, and improve patient outcomes and the quality of healthcare. Currently LHF has 158 active research studies.
Education: In F2024, Lakeridge Health Foundation gave out ten Nursing bursaries to further health education for LHH’s nursing staff.
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Results and Impact
Ci found that Lakeridge Health Foundation posted many stories but no quantified data on its results. This may not be a complete representation of Lakeridge Health Foundation’s results and impact.
This charity is not yet rated on impact (n/r).
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Finances
In F2024, LHF received $7.8m in donations, up 50% from $5.2m in F2023. The charity also received $142k in donated goods. In F2024, investment income was $7.3m representing 47% of total revenues.
Administrative costs are 23% of total revenues (less investment income) and fundraising costs are 19% of donations. For every dollar donated, 59 cents are available to go towards the cause. This is outside of Ci’s reasonable range for overhead spending. In F2024, LHF spent $3.9m on its programs and grants which represents 25% of total revenues.
In F2024, LHF has reserve funds of $64.6m. These reserve funds can cover 16.6 years of annual program costs and grants.
Profile updated on July 26, 2024 by Abby Stout.
Financial Review
Fiscal year ending March
|
2024 | 2023 | 2022 |
|---|---|---|---|
| Administrative costs as % of revenues | 22.5% | 29.7% | 19.0% |
| Fundraising costs as % of donations | 18.9% | 22.9% | 17.3% |
| Total overhead spending | 41.4% | 52.6% | 36.3% |
| Program cost coverage (%) | 1,659.9% | 1,468.7% | 1,195.2% |
Summary Financial StatementsAll figures in $000s |
2024 | 2023 | 2022 |
|---|---|---|---|
| Donations | 7,764 | 5,177 | 6,169 |
| Goods in kind | 142 | 48 | 1,060 |
| Business activities (net) | 256 | 256 | 256 |
| Investment income | 7,306 | 22 | 3,060 |
| Other income | 0 | 0 | 71 |
| Total revenues | 15,468 | 5,503 | 10,616 |
| Program costs | 271 | 265 | 239 |
| Grants | 3,618 | 3,571 | 4,574 |
| Administrative costs | 1,835 | 1,629 | 1,436 |
| Fundraising costs | 1,468 | 1,185 | 1,068 |
| Total spending | 7,192 | 6,650 | 7,317 |
| Cash flow from operations | 8,276 | (1,147) | 3,299 |
| Capital spending | 11 | 7 | 1,005 |
| Funding reserves | 64,552 | 56,341 | 57,525 |
Note: DEFERRED CONTRIBUTIONS: To report on a cash basis, Ci adjusted for deferred capital contributions. This affected total revenues by $34k in F2024, $10k in F2023, and ($37k) in F2022. GRANTS: Ci included the grants to Lakeridge Health as a grant expense. This increased total expenses by $3.6m in F2024, $3.6m in F2023, and $4.6m in F2022.
Salary Information
$350k + |
0 |
$300k - $350k |
1 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
4 |
$80k - $120k |
5 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2023
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Comments & Contact
Comments added by the Charity:
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 905-433-4339