St. Paul's Foundation of Vancouver
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.
D+
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.
74%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 74 cents are available for programs.
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Programs
About St. Paul's Foundation of Vancouver:
Founded in 1980, St. Paul’s Foundation of Vancouver (SPFV) raises money to improve patient care and fund innovation at St. Paul’s Hospital and eight other healthcare centres in British Columbia. St. Paul’s Hospital has 500,000 patient visits each year and specializes in heart and lung health, kidney (renal) care, HIV/AIDS, and care of the elderly. The foundation was previously named St. Paul’s Hospital Foundation of Vancouver until merging with Tapestry Foundation in April 2017.
In F2018, St. Paul’s Foundation allocated 42% of grant spending to research. There were 169 new researchers who may receive funding over many years to sustain research. Of the 499 active multi-year studies, 258 involve heart or lung health, 60 mental health or addiction, 48 HIV, and 35 kidney health. The research works to improve quality of life and access to care, discover new treatments, and ultimately eliminate chronic illnesses.
St. Paul’s Foundation distributed 39% of grant funding to capital projects, 16% to education, 2% to enhancing patient care, and 1% to equipment purchases.
A new St. Paul’s Hospital site is planned for construction. The $1.9 billion project is set for completion in 2026. The new hospital building will have 548 beds, an increase of 115 from the existing building. The site will provide general care and host specialized centres for heart and lung care, renal care, eating disorders, and specialty surgeries and transplants.
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Results and Impact
St. Paul’s Foundation of Vancouver provides funding to the SALOME study (Study to Assess Longer-term Opioid Medication Effectiveness). The study found that hydromorphone, a licensed pain medication, can be used in long-term treatment of opioid-dependent patients. This finding was published in a 2016 psychiatric edition of the Journal of the American Medical Association.
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Finances
St. Paul’s Foundation of Vancouver is one of Canada’s largest charities in terms of donations, a Major 100 charity, with donations of $23.5m in F2018. Administrative costs are 3% of revenues less investment income, and fundraising costs are 24% of donations. For every dollar donated, 74 cents go to the cause, which is within Ci’s reasonable range for overhead spending.
In April 2017, SPFV received $11.5m in net assets through amalgamating with Tapestry Foundation. SPFV has $108.9m in funding reserves, of which $22.7m is donor-endowed. Excluding donor-endowed funds, the foundation could grant at the F2018 level for 3.5 years using reserves.
This charity profile is an update to be sent to St. Paul’s Foundation of Vancouver for review. Changes and edits may be forthcoming.
Updated on June 5, 2019 by Madison Kerr.
Financial Review
Fiscal year ending March
|
2018 | 2017 | 2016 |
|---|---|---|---|
| Administrative costs as % of revenues | 2.6% | 3.1% | 2.4% |
| Fundraising costs as % of donations | 23.8% | 18.5% | 12.2% |
| Program cost coverage (%) | 353.2% | 359.4% | 429.6% |
Summary Financial StatementsAll figures in $000s |
2018 | 2017 | 2016 |
|---|---|---|---|
| Donations | 23,532 | 24,904 | 30,708 |
| Government funding | 8,000 | 0 | 0 |
| Investment income | 3,114 | 9,847 | 10,585 |
| Total revenues | 34,646 | 34,751 | 41,293 |
| Grants | 25,533 | 22,020 | 17,852 |
| Administrative costs | 831 | 781 | 720 |
| Fundraising costs | 5,588 | 4,611 | 3,742 |
| Total spending | 31,953 | 27,411 | 22,314 |
| Cash flow from operations | 2,694 | 7,340 | 18,979 |
| Funding reserves | 108,904 | 94,842 | 87,481 |
Note: Government funding has been removed from donations and presented separately. Ci has adjusted for unrealized changes in investment, affecting revenues by ($1.1m) in F2018, $5.8m in F2017, and $6.0m in F2016. Administrative and fundraising costs are as reported on the foundation’s T3010 filing with the CRA. Ci has adjusted for the change in grants payable, affecting expenses by $1.6m in F2018, ($1.5m) in F2017, and $607k in F2016.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
1 |
$200k - $250k |
0 |
$160k - $200k |
3 |
$120k - $160k |
1 |
$80k - $120k |
5 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2018
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Comments & Contact
Comments added by the Charity:
Charity Contact
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