Montréal Sacré-Coeur Hospital 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.
59%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 59 cents are available for programs.
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OVERVIEW
About Montréal Sacré-Coeur Hospital Foundation:
Montréal Sacré-Coeur Hospital Foundation is a 2-star rated charity with best practice in financial transparency and below average accountability to donors as seen in the C+ results reporting grade. For every dollar donated to this charity, 59 cents go to the cause. This is outside Ci's reasonable range for overhead spending.
Founded in 1976, Montréal Sacré-Coeur Hospital Foundation (MSCHF) raises money for Sacré-Cœur Hospital and Albert-Prévost's Mental Health Hospital in Quebec. The foundation grants money to purchase equipment, improve patient care, support research, and continue the training of healthcare professionals. Funds are specifically used to develop the areas of trauma care, cardiovascular health, respiratory health, mental health, orthopaedics, and bariatric surgery.
Since its founding, the foundation has granted almost $85m to the hospitals. In F2021, this money was used to purchase a PET CT machine, a tomosynthesis machine and a new generation surgical robot. It has also contributed to the development of a covid-19 biobank and the purchase of a simulation software for medical education.
MSCHF’s 2018-2022 campaign aims to raise $40m. Campaign funds will be used to expand outpatient services, update the facilities at Albert-Prévost's Mental Health Hospital, create a renal centre for kidney care, build a cancer care centre, and support ongoing training and research.
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Results and Impact
In F2021, MSCHF reported the development of a hood that is ten times more effective than the N95 mask at protecting healthcare personnel against covid-19.
While Ci highlights these key results, they may not be a complete representation of MSCHF's results and impact.
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Finances
Montréal Sacré-Coeur Hospital Foundation reported donations and special events revenue of $5.1m in F2021. The foundation received $9.0m in investment income, representing 63% of total revenues. Administrative costs are 24% of revenues less investment income, and fundraising costs are 17% of donations. For every dollar donated, 59 cents go to the cause, which is outside of Ci’s reasonable range for overhead spending.
MSCHF has $61.4m in funding reserves of which $5.1m is donor-endowed. Excluding donor-endowed funds, the foundation could grant at the F2021 level for 19.1 years using reserves.
This charity report is an update that has been sent to Montréal Sacré-Coeur Hospital Foundation for review. Changes and edits may be forthcoming.
Updated on July 20, 2022 by Angelina Curwin.
Financial Review
Fiscal year ending December
|
2021 | 2020 | 2019 |
|---|---|---|---|
| Administrative costs as % of revenues | 24.4% | 23.1% | 14.9% |
| Fundraising costs as % of donations | 16.6% | 20.2% | 29.1% |
| Total overhead spending | 41.0% | 43.3% | 43.9% |
| Program cost coverage (%) | 1,912.9% | 3,664.3% | 1,074.0% |
Summary Financial StatementsAll figures in $000s |
2021 | 2020 | 2019 |
|---|---|---|---|
| Donations | 4,395 | 4,068 | 5,214 |
| Government funding | 205 | 280 | 0 |
| Business activities (net) | 23 | (15) | 1,040 |
| Special events | 680 | 829 | 1,970 |
| Investment income | 9,036 | 13 | 4,543 |
| Total revenues | 14,339 | 5,176 | 12,767 |
| Grants | 3,200 | 1,570 | 4,624 |
| Administrative costs | 1,294 | 1,192 | 1,222 |
| Fundraising costs | 842 | 989 | 2,089 |
| Total spending | 5,337 | 3,750 | 7,934 |
| Cash flow from operations | 9,003 | 1,426 | 4,833 |
| Capital spending | 18 | 4 | 1 |
| Funding reserves | 61,441 | 53,302 | 52,014 |
Note: Ci reports business revenue and investment income net of related expenses, affecting revenues and expenses by ($189k) in F2021, ($1.3m) in F2020, and ($3.8m) in F2019.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
1 |
$120k - $160k |
0 |
$80k - $120k |
1 |
$40k - $80k |
8 |
< $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
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