Calgary 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.
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.
40%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 40 cents are available for programs.
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OVERVIEW
About Calgary Health Foundation:
Calgary Health Foundation is a 1-star charity. It has a C+ results reporting grade, which is below average. For every dollar donated, 40 cents are available to go to the cause, which is outside Ci's reasonable range. Its reserve funds can cover over nine years of program costs.
Founded in 1996, Calgary Health Foundation (CHF) unites donors, hospitals, health care providers, and community partners in Calgary. CHF raises funds for equipment and capital projects, research, and education programs at hospitals and health centres in the Calgary area. It grants directly to Alberta Health Services (AHS), which distributes funding across Foothills Medical Centre, Peter Lougheed Centre, Rockyview General Hospital, South Health Campus, and 12 Carewest long-term care sites. It also funds research projects at the University of Calgary.
In F2023, Calgary Health Foundation granted $17.2m in cash and $40k in goods in kind for Capital Project and Equipment, Research, and General and Education programs. Grants to AHS cover capital projects and equipment and general programs and education program spending. In F2023, CHF granted $13.2m to AHS. Grants to the University of Calgary covers research program spending. In F2023, CHF granted $3.1m to the University of Calgary. $854k was granted to other organizations in F2023.
CHF has released its audited F2023 financial statements, but not its F2023 impact report. As such, Ci used data from F2022 for results reporting.
Capital Projects and Equipment: In F2022, Calgary Health Foundation funded 17 different equipment and capital project programs. The charity reports that its funding provides over 2,200 percutaneous coronary intervention (PCI) procedures each year. CHF also funded equipment for more than 6,400 diagnostic angiography procedures each year.
Research: The charity highlighted five research projects it funds. Calgary Health Foundation invested $1.8m to six projects to advance the care of high risk-pregnancies and complications at birth.
General Programs and Education: In F2022, CHF funded art, music, and horticultural programs at Carewest to enhance wellness and therapy for residents. CHF provided 256 referrals to community agencies representing health, housing, and substance use treatment in F2022.
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Results and Impact
Due to the funding of an additional operating room, the Peter Lougheed Centre can perform an additional 1,000 surgeries each year for the next ten years.
While Ci highlights these key results, they may not be a complete representation of Calgary Health Foundation’s results and impact. This charity is not yet rated on impact (n/r).
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Finances
Calgary Health Foundation received $10.8m in donations and special events revenue in F2023. It received $427k of donated goods and $24k in government funding from Alberta Health Services. Donated goods include rent received from the government. Administrative costs are 8% of revenues (less investment income) and fundraising costs are 52% of donations and special events revenue. This results in total overhead spending of 60%. For every dollar donated, 40 cents are available to go to the cause, which is outside Ci’s reasonable range for overhead spending.
CHF has funding reserves of $181.5m, of which $24.5m is donor endowed. Excluding donor-endowed funds, its funding reserves can cover 985%, or nine years and 10 months of annual grant costs.
In F2022, Calgary Health Foundation paid $3.3m to external fundraisers. These fundraisers collected $36.4m revenue. The cost of raising a dollar via external fundraisers was 9 cents. This rate is similar for the previous three years.
In F2023, CHF ran a lottery. The lottery brought in $35.4m in revenue and $21.1m in expenses. $14.3m (40% of revenue) was retained after expenses.
Charity Intelligence has sent this update to Calgary Health Foundation for review. Changes and edits may be forthcoming.
Updated on June 7, 2023 by Liam Chapleau.
Financial Review
Fiscal year ending March
|
2023 | 2022 | 2021 |
|---|---|---|---|
| Administrative costs as % of revenues | 8.4% | 4.7% | 6.7% |
| Fundraising costs as % of donations | 52.0% | 49.7% | 59.8% |
| Total overhead spending | 60.5% | 54.4% | 66.5% |
| Program cost coverage (%) | 985.1% | 1,557.7% | 847.4% |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
|---|---|---|---|
| Donations | 9,813 | 9,940 | 8,242 |
| Goods in kind | 427 | 424 | 410 |
| Government funding | 24 | 16 | 22 |
| Lotteries (net) | 14,321 | 16,911 | 13,829 |
| Special events | 953 | 464 | 382 |
| Investment income | 1,924 | 3,571 | 17,469 |
| Total revenues | 27,462 | 31,327 | 40,353 |
| Grants | 17,159 | 11,002 | 18,526 |
| Donated goods exp | 40 | 15 | 524 |
| Administrative costs | 2,152 | 1,297 | 1,524 |
| Fundraising costs | 5,601 | 5,174 | 5,160 |
| Total spending | 24,952 | 17,488 | 25,734 |
| Cash flow from operations | 2,510 | 13,839 | 14,620 |
| Capital spending | 0 | 0 | 0 |
| Funding reserves | 181,479 | 176,764 | 170,177 |
Note: Ci accounts for lotteries on a net basis. As such, both revenue and expenses are decreased by $21.1m in F2023, $19.4m in F2022, and $18.4 in F2021. CHT reported a $3.1m decrease in deferred revenue from lotteries and events. Since the charity did not report a breakdown of deferred funding, Ci was unable to adjust for deferred donations. Ci included unrealized gains (losses) in investment income, affecting revenues by ($4.1m) in F2023, ($3.1) in F2022, and $14.2m in F2021. Ci reported investment income net of investment management fees, affecting revenues and expenses by ($367k) in F2023, ($256k) in F2022, and ($247k) in F2021. To report on a cash basis, Ci adjusted grants by changes in both accounts payable to Alberta Health Services and disbursements payable to grant recipients. This affected expenses by $1.9m in F2023, $472k in F2022, and $5.7m in F2021.
Salary Information
$350k + |
0 |
$300k - $350k |
1 |
$250k - $300k |
0 |
$200k - $250k |
1 |
$160k - $200k |
1 |
$120k - $160k |
3 |
$80k - $120k |
4 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2022
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Comments & Contact
Comments added by the Charity:
Charity Contact
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