CHUS 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.
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 CHUS Foundation:
Founded in 1977, Fondation du Centre Hospitalier Universitaire de Sherbrooke (CHUS) raises funds to support Integrated University Health and Social Services Centres (CIUSSS) in Quebec. Foundation CHUS specifically supports CUISSS de l’Estrie - CHUS, which provides care and social services to the eastern province of Quebec. A large part of this service is the Centre Hospitalier Universitaire de Sherbrooke (CHUS), a public healthcare network in Sherbrooke Quebec which includes Hôpital Fleurimont and Hôtel-Dieu de Sherbrooke facilities.
CHUS Foundation aims to improve the quality and care of services provided by CUISSS. CHUS Foundation focuses on cancer, medical imaging, and surgery. CHUS Foundation also grants to research and underprivileged families receiving care at Hôpital Fleurimont.
In F2020, the foundation granted $2.6m to CUISSS de l’Estrie - CHUS. With the funding, CHUS bought two new direct sensor mammographs along with other technology and equipment. CHUS also renovated radiology rooms, with hopes of treating 2,500 people every year.
CHUS Foundation is in the middle of a campaign to fund four key areas within CHUS: youth, elderly, mental health, and equipment. Among other projects, the charity has purchased an electroencephalogram (EEG) in pediatrics, reportedly allowing for the creation of a pediatric epilepsy unit.
The charity granted another $77k to other healthcare-focused organizations within Eastern Quebec. Information on grantees was found using the charity's T3010 filing with the CRA as grantees are not disclosed on the charity’s website.
In the coming years, the charity hopes to build a new mother-child center and redevelop the Émile-Noël Pavilion, a mental health building.
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Finances
CHUS Foundation has donations and special event revenues of $8.8m, including $0.5m in donated goods in kind, in F2020. Administrative costs are 9% of revenues (less investment income) and fundraising costs are 33% of donations and special events. This results in total overhead spending of 42%. For every dollar donated, 58 cents go to the cause. This is outside of Ci’s reasonable range for overhead spending. This is an improvement over F2019 overhead spending of 50%.
CHUS Foundation has $46.8m in funding reserves, of which $3.2m is donor endowed. Excluding donor-endowed funds, the charity could cover 1559% or around 15 and a half years of annual program costs with current reserves. CHUS Foundation's funding reserves suffered an investment loss of $731k with investment returns of -2% in F2020. This loss compares with an investment gain of $2.4m with investment returns of 5% in F2019. CHUS Foundation's investments are 90% stocks and mutual funds and 10% bonds.
This charity report is an update that has been sent to CHUS Foundation for review. Changes and edits may be forthcoming.
Updated on June 9, 2021 by Brenleigh Jebb.
Financial Review
Fiscal year ending March
|
2020 | 2019 | 2018 |
|---|---|---|---|
| Administrative costs as % of revenues | 9.0% | 14.8% | 16.5% |
| Fundraising costs as % of donations | 32.6% | 34.7% | 29.3% |
| Total overhead spending | 41.6% | 49.5% | 45.9% |
| Program cost coverage (%) | 1,558.3% | 1,203.4% | 1,530.4% |
Summary Financial StatementsAll figures in $000s |
2020 | 2019 | 2018 |
|---|---|---|---|
| Donations | 3,953 | 3,185 | 3,411 |
| Goods in kind | 489 | 450 | 0 |
| Business activities (net) | 167 | 170 | 217 |
| Special events | 4,319 | 4,101 | 3,539 |
| Investment income | (731) | 2,405 | 1,809 |
| Total revenues | 8,196 | 10,312 | 8,977 |
| Program costs | 194 | 226 | 146 |
| Grants | 2,762 | 3,458 | 2,663 |
| Administrative costs | 804 | 1,173 | 1,185 |
| Fundraising costs | 2,699 | 2,525 | 2,039 |
| Other costs | 703 | 417 | (348) |
| Total spending | 7,162 | 7,798 | 5,686 |
| Cash flow from operations | 1,034 | 2,514 | 3,290 |
| Capital spending | 0 | 116 | 140 |
| Funding reserves | 46,773 | 45,599 | 43,747 |
Note: Ci reported business revenue net of related expense, reducing both revenue and expenses by $353k in F2020, $363k in F2019 and $341k in F2018. Ci reported administrative and program costs from the charity’s T3010 filings with the CRA. Ci removed interest from administrative costs to report them as other expenses. Fundraising costs were reported using the charity's audited financial statements. The fundraising costs not reported on the charity's T3010 were removed from administrative costs. Ci removed amortization from program, administrative, and fundraising costs on a pro-rata basis.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
1 |
$80k - $120k |
2 |
$40k - $80k |
7 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2020
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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: 819 820-6450