Kensington 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.
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.
80%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 80 cents are available for programs.
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OVERVIEW
About Kensington Foundation:
Kensington Health Foundation is a 3-star rated charity. It has low overhead spending and is financially transparent. However, the charity has a below average results reporting grade and its reserve funds could cover program costs for over six years.
Founded in 1998, Kensington Health Foundation raises funds for Kensington Health Centre in downtown Toronto. Kensington Health Centre provides accessible healthcare to the community. The Centre provides 24/7 care for elderly and disabled people. It has an eye clinic and research department to address vision concerns. The charity also has the tools to diagnose certain illnesses. Kensington Health Foundation’s funding gives the Health Centre the ability to provide services beyond what the government funds.
Kensington Health Foundation’s funding goes towards five programs: Hospice, Kensington Health Centre, Community Care, Eye Care, and Diagnostics.
The Hospice program received 74% of program spending in F2022. In total, the Foundation spent $3.4m on Kensington Hospice, and $2.5m of this went towards expanding the program’s capacity. In F2022, nine suites were added to the previous 10-bed program. At this charity, it costs $460 a day for a hospice bed while at a regular hospital it costs around $1,100.
In F2022, the Kensington Health Centre program received 24% of program spending. This program provides long-term care through Kensington Gardens, a 350-bed assisted living facility. The Centre also provides palliative care as needed. The charity has set a goal to offer at least 250 community programs at Kensington Gardens by 2024.
In F2022, the remaining 2% of program spending went toward Community Care, Eye Care, and Diagnostics. Community care runs through the Second Mile Club, which provides recreational spaces for elderly and disabled people. Eye care includes the Kensington Eye Institute, Kensington Vision & Research Centre, and the Eye Bank of Canada. These organizations perform eye surgeries (including transplants) and conduct research. Finally, the diagnostics department conducts mammograms, biopsies, ultrasounds, x-rays, and endoscopies.
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Results and Impact
In F2022, Kensington Health Centre reported that its long-term care facility saw a 7% decrease in the number of residents who died in the hospital. This means that more people died at home thanks to the palliative care provided by the charity. Through its Community Care program, Kensington Health Foundation found that over 700 people saw improvements in their quality of life in F2022.
While Ci highlights these key results, they may not be a complete representation of Kensington Health Foundation’s results and impact. This charity is not yet rated on impact (n/r).
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Finances
In F2022, Kensington Health Foundation reported $2.3m in donations, over double what was reported in F2021. An additional $1.9m came from rental income on a property owned by the Foundation in F2022. Administrative costs are 8% of revenues (less investment income) and fundraising costs are 12% of donations. This results in total overhead spending of 20%. For every dollar donated, 80 cents go to the cause. This is within Ci’s reasonable range for overhead spending. In F2021, Kensington Health Foundation had overhead spending of 42% due to significantly lower donations, but in F2022 both the administrative and fundraising costs decreased.
The charity has total funding reserves of $34.1m. This can cover annual program costs for almost six years and two months at the F2022 level.
Kensington Health Foundation paid external fundraisers $530 in F2022 to raise $34k for a cost of $0.02 per dollar raised.
This charity report is an update that has been sent to Kensington Health Foundation for review. Comments and edits may be forthcoming.
Updated June 9, 2023 by Clive Stevens.
Financial Review
Fiscal year ending June
|
2022 | 2021 | 2020 |
---|---|---|---|
Administrative costs as % of revenues | 8.3% | 14.8% | 14.3% |
Fundraising costs as % of donations | 11.7% | 27.6% | 8.1% |
Total overhead spending | 20.0% | 42.4% | 22.4% |
Program cost coverage (%) | 615.2% | 1,052.3% | 951.9% |
Summary Financial StatementsAll figures in $s |
2022 | 2021 | 2020 |
---|---|---|---|
Donations | 2,314,458 | 993,239 | 1,600,909 |
Business activities (net) | 1,947,979 | 1,842,003 | 1,788,461 |
Investment income | (611,764) | 3,677,937 | (221,632) |
Other income | 1,550 | 73,609 | 0 |
Total revenues | 3,652,223 | 6,586,788 | 3,167,738 |
Program costs | 916,070 | 842,932 | 732,493 |
Grants | 4,621,779 | 2,989,567 | 3,656,896 |
Administrative costs | 355,371 | 429,311 | 485,623 |
Fundraising costs | 269,944 | 274,057 | 129,600 |
Total spending | 6,163,164 | 4,535,867 | 5,004,612 |
Cash flow from operations | (2,510,941) | 2,050,921 | (1,836,874) |
Capital spending | 50,517 | 545,875 | 387,976 |
Funding reserves | 34,068,777 | 40,329,149 | 41,784,312 |
Note: Ci adjusted for grants which were included below the expense line in the audited financial statements. This affected expenses by $4.6m in F2022, $3.0m in F2021, and $3.7m in F2020.
Salary Information
$350k + |
0 |
$300k - $350k |
1 |
$250k - $300k |
0 |
$200k - $250k |
1 |
$160k - $200k |
0 |
$120k - $160k |
0 |
$80k - $120k |
2 |
$40k - $80k |
1 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2022
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Comments & Contact
Comments added by the Charity:
Comments from 2017:
Who we are
The Kensington Health Foundation was formed in 1988 to raise funds for Kensington Health and our surrounding community. Thanks to the generosity of our donors, we fund improvements to facilities, vital research, critically needed equipment, life-enhancing programs and better quality services. As well, we build community programs and promote health and wellness in academic organizations.
What we do
At Kensington, our goal is to help people in our community to live their best life no matter where they are along the personal health journey. We raise funds to support patients, residents, and their families and caregivers to access care that meets individual needs in the comfort of their community.
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: (416) 963-9640