Lakeridge Health Foundation
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.
B-
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.
58%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 58 cents are available for programs.
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OVERVIEW
About Lakeridge Health Foundation:
Lakeridge Health Foundation is a 2-star charity. It has a B- in results reporting, meaning it has a below-average results reporting grade. The charity has $55m in funding reserves that can cover grants for over 15.8 years. Before you give, read Charity Intelligence’s report.
Lakeridge Health Foundation fundraises and provides grants to Lakeridge Health in Durham Region. The main granting areas are research and laboratory and healthcare programs. The charity does not provide a full breakdown of its spending on its programs.
The charity's research and laboratory program supports approximately 90 clinical trials in cancer and another 120 ongoing studies throughout the Hospital. The charity is expected to establish its second Endowed Research Chair in the upcoming years. The charity's 130-staff lab provides blood tests to 200 cancer patients every day, and diagnoses 38,000 tissue samples each year.
In F2020, the charity supported three healthcare programs of Lakeridge Health. Lakeridge Health's diagnostic imaging department helps to diagnose and monitor cancer through ultrasound, X-ray and mammogram to MRI and CT scan. The surgical oncology department conducts 1,800 surgeries every year using minimally-invasive techniques. In 2018, Lakeridge Health opened the Gynecology Oncology Centre (GOC) to provide specialized radiation, chemotherapy and surgical treatments for women. Lakeridge Health provides 40,000+ radiation treatments per year, with a daily average of 80-90 patient visits to the systemic therapy suite.
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Results and Impact
In F2020, the charity acquired 50 new smart IV pumps and 44 new dialysis machines. It also constructed a new in-patient pharmacy and a new infectious disease clinic. Together with the Durham Mental Health Services (DMHS), Lakeridge Health Foundation supported approximately 17,600 systemic cancer treatments and 40,600 radiation treatments. In addition, Lakeridge Health had 204,551 annual emergency room visits, with a daily average of 1,600 hospital visitors.
While Ci highlights these key results, they may not be a complete representation of Lakeridge Health Foundation's results and impact.
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Finances
Lakeridge Health Foundation received total donations and special events revenues of $4.3m in F2021. Administrative costs are 23% of revenues (excluding investment income). Fundraising costs are 19% of donations. This results in overhead costs of 42%. For every dollar donated, 58 cents go to the cause. This is not within Ci’s reasonable range for overhead spending.
The charity has total funding reserves of $55.2m. Lakeridge Health Foundation’s funding reserves can cover program costs for 15.8 years.
Charity Intelligence has sent this update to Lakeridge Health Foundation for review. Changes and edits may be forthcoming.
Updated on June 20, 2022, by Lin Zhu.
Financial Review
Fiscal year ending March
|
2021 | 2020 | 2019 |
|---|---|---|---|
| Administrative costs as % of revenues | 23.1% | 30.3% | 18.3% |
| Fundraising costs as % of donations | 18.7% | 25.0% | 22.9% |
| Total overhead spending | 41.7% | 55.2% | 41.2% |
| Program cost coverage (%) | 1,577.6% | 5,871.5% | 3,649.9% |
Summary Financial StatementsAll figures in $000s |
2021 | 2020 | 2019 |
|---|---|---|---|
| Donations | 4,281 | 4,093 | 4,606 |
| Goods in kind | 909 | 55 | 36 |
| Business activities (net) | 256 | 256 | 256 |
| Investment income | 8,624 | (3,090) | 1,118 |
| Other income | 244 | 0 | 0 |
| Total revenues | 14,314 | 1,314 | 6,016 |
| Program costs | 231 | 179 | 172 |
| Grants | 3,262 | 613 | 1,156 |
| Administrative costs | 1,313 | 1,332 | 897 |
| Fundraising costs | 799 | 1,022 | 1,054 |
| Total spending | 5,605 | 3,146 | 3,279 |
| Cash flow from operations | 8,709 | (1,832) | 2,737 |
| Capital spending | 18 | 59 | 184 |
| Funding reserves | 55,190 | 46,516 | 48,469 |
Note: Ci included grants to Lakeridge Health in expenses, affecting the charity's expenses by $3.3m in F2021, $613k in F2020, and $1.2m in F2019.
Salary Information
$350k + |
0 |
$300k - $350k |
1 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
4 |
$80k - $120k |
3 |
$40k - $80k |
2 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2021
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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