Victoria Hospitals Foundation

1952 Bay Street
Victoria, BC V8R 1J8
Executive Director: Melanie Mahlman
Board Chair: Steve McKerrell

Charitable Reg. #:10793 5637 RR0001

STAR RATING

Ci's Star Rating is calculated based on the following independent metrics:

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FINANCIAL TRANSPARENCY

Most recent Audited financial statements 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.

79%

CENTS TO THE CAUSE

For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 79 cents are available for programs.

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Programs

About Victoria Hospitals Foundation:

Victoria Hospitals Foundation (VHF) raises money to fund equipment purchases, training, research, and other special projects at hospitals in Victoria, British Columbia. The foundation grants money to Royal Jubilee, Victoria General, and Gorge Road hospitals which collectively treat approximately 200,000 Vancouver Island residents each year. In F2018, VHF granted $5.3m to the hospitals. The largest grant amounts were allocated to cardiac care (45%), diagnostic services (15%), and maternity & pediatric care (9%).

VHF reports that it funds 40% of equipment purchases for the hospitals. In F2018, foundation grants purchased 114 new pieces of equipment. Of this equipment, 23 pieces will be used in diagnosing and treating stroke survivors and patients with neurological conditions. VHF raised $3.2m to purchase 34 pieces of equipment for cardiac care. At the time of this report, the foundation’s current campaign was to raise $1.8m to purchase 40 monitors for pediatric and neonatal care.

In F2018, Victoria Hospitals Foundation distributed $25,300 to fund continued training for 46 staff and $45,100 in nursing scholarships to 50 people. Donations were also used to construct a new intensive care patient room and renovate areas designated for mental health with a new nursing station, secure room, and exam room.

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Finances

Victoria Hospitals Foundation is a large charity with donations of $10.9m in F2018, of which $396k was in-kind donations. Donations to the foundation increased by 107% from F2017 to F2018. Administrative and fundraising costs are 21% of revenues less investment income. For every dollar donated, 79 cents go to the cause, which is within Ci’s reasonable range for overhead spending. VHF has $14.6m in funding reserves which could cover 2.8 years of granting at the F2018 level.

This charity report is an update that has been sent to Victoria Hospitals Foundation for review. Changes and edits may be forthcoming.

Updated on July 30, 2019 by Madison Kerr.

Financial Review


Financial Ratios

Fiscal year ending March
201820172016
Fundraising & admin costs as % of revenues 20.9%38.1%30.5%
Total overhead spending 20.9%38.1%30.5%
Program cost coverage (%) 277.7%202.8%251.2%

Summary Financial Statements

All figures in $000s
201820172016
Donations 10,5244,9605,724
Goods in kind 396315273
Lotteries (net) 485406268
Investment income 450864(100)
Other income 295253212
Total revenues 12,1506,7996,377
Grants 5,2685,1044,318
Fundraising & administrative costs 2,4462,2631,974
Total spending 7,7147,3666,292
Cash flow from operations 4,435(567)85
Funding reserves 14,62910,35210,845

Note: Investment income includes realized gains, unrealized gains, and other investment income net of management fees, affecting revenues by ($11k) in F2018, $544k in F2017, and ($692k) in F2016. Ci has adjusted for change in grants payable, affecting expenses by ($906k) in F2018, $167k in F2017, and $223k in F2016. Lotteries revenue is reported net of expenses and due to a change in reporting structure, revenues and expenses have been adjusted by ($242k) in F2016.

Salary Information

Full-time staff: 17

Avg. Compensation $83,780

Top 10 staff salary range

$350k +
0
$300k - $350k
0
$250k - $300k
0
$200k - $250k
0
$160k - $200k
1
$120k - $160k
0
$80k - $120k
2
$40k - $80k
7
< $40k
0

Information from most recent CRA Charities Directorate filings for F2018

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Comments & Contact

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Charity Contact

Website: www.victoriahf.ca
This email address is being protected from spambots. You need JavaScript enabled to view it.

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