Victoria Hospitals Foundation

1952 Bay Street
Victoria, BC V8R 1J8
CEO: Avery Brohman
Board Chair: Donnie Wing

Charitable Reg. #:10793 5637 RR0001

STAR RATING

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

[Charity Rating: 4/5]

✔+

FINANCIAL TRANSPARENCY

Audited financial statements for current and previous years available on the charity’s website.

B

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.

84%

CENTS TO THE CAUSE

For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 84 cents are available for programs.



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OVERVIEW

About Victoria Hospitals Foundation:

Victoria Hospitals Foundation is a 4-star charity. It is financially transparent and has reasonable overhead costs. Its results reporting grade is below average.

Victoria Hospitals Foundation (VHF) raises funds for hospital equipment, special projects, training, and research at Royal Jubilee (RJH), Victoria General (VGH), and Gorge Road hospitals. In F2022, VHF granted $10.9m to Island Health, the network overseeing the three hospitals. Out of this, $447k (4%) is grant disbursements that Victoria Hospitals Foundation owes to Island Health from previous years. The adjusted grants of $10.5m went to Special Projects (48%), Equipment (43%), Research (8%), and Education (1%).

In F2022, 92% of the Special Projects grants went to building permanent High Acuity Units at RJH and VGH. High Acuity Units provide more intensive care than normal hospital wards, but not as intensive as Intensive Care Units. They provide intensive care. Another Special Project included increasing bed capacity at the Mental Health Substance Abuse Sub-Acute Unit at RJH (6%).

VHF reports that 40% of the equipment at RJH and VGH is donor-funded. In F2022, the highest equipment disbursements went to the departments of Diagnostics and Pharmacy (29%), Critical Care (22%), Cardiac Care (13%) and Surgical Services (8%). In F2021, VHF funded the purchase of 127 pieces of equipment. These included Breast Imaging CAD software and a Phacoemulsification system.

VHF also funded scholarships and bursaries for 127 Island Health employees to help them continue their education and training. It also supported six research projects and 13 researchers.

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Results and Impact

VHF reports that each year 40,000 Canadians suffer from recurrent Clostridium difficile (C. diff.). Antibiotics are the usual treatment; but they don’t always work. In F2021, Dr. Christine Lee and her team at the Island Health network conducted research on a new treatment for C. diff called fecal microbiota transplant (FMT). VHF reports that FMT is 85% effective in curing recurrent C. diff.

While Charity Intelligence highlights these results, this may not be a complete representation of Victoria Hospitals Foundation’s results and impact.

This charity is not yet rated on impact (n/r).

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Finances

Victoria Hospitals Foundation received $16.5m in donations in F2022. Fundraising and administrative costs were 16% of revenues (less investment income). For each dollar donated, 84 cents go to the cause. This is within Ci’s reasonable range for overhead spending.

VHF has $26.5m in reserve funds. These reserve funds are VHF’s cash and investments. The charity can cover annual program costs for around 2 and a half years.

As of F2022, VHF has outstanding commitments of $9.4m to Island Health. Funding will be disbursed to Island Health when VHF is billed.

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

Updated on June 1, 2023 by Alessandra Castino

 

Financial Review


Financial Ratios

Fiscal year ending March
202220212020
Fundraising & admin costs as % of revenues 16.0%16.9%34.2%
Total overhead spending 16.0%16.9%34.2%
Program cost coverage (%) 243.0%263.3%199.5%

Summary Financial Statements

All figures in $000s
202220212020
Donations 16,50013,1947,264
Lotteries (net) 1,4171,216824
Investment income 1,0492,544(255)
Other income 233514297
Total revenues 19,20017,4688,131
Grants 10,9208,2877,524
Fundraising & administrative costs 2,9052,5202,870
Total spending 13,82610,80710,395
Cash flow from operations 5,3756,662(2,264)
Capital spending 000
Funding reserves 26,53921,82115,010

Note: Investment income includes gains and unrealized gains net of management fees. This affected total revenues by ($118k) in F2022, by $2.0m in F2021, and ($875k) in F2020. Ci adjusted for grant disbursements Victoria Hospitals Foundation owes Island Health. This affected reported grants by $447k in F2022 (4% of grants), by $55k in F2021 (1% of grants), and $716k in F2020 (10% of grants).  

Salary Information

Full-time staff: 26

Avg. compensation: $84,041

Top 10 staff salary range:

$350k +
0
$300k - $350k
0
$250k - $300k
0
$200k - $250k
0
$160k - $200k
1
$120k - $160k
2
$80k - $120k
4
$40k - $80k
3
< $40k
0

Information from most recent CRA Charities Directorate filings for F2022

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Comments & Contact

Comments added by the Charity:

No comments have been added by the charity.

Charity Contact

Website: www.victoriahf.ca
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: (250) 519 1750

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Charitable Registration Number: 80340 7956 RR0001