Hamilton Health Sciences Foundation

1 King St. W, Suite 702
Hamilton, ON L8P 1A4
President & CEO: Pearl Veenema
Board Chair: Kathy Thomas

Charitable Reg. #:13115 9543 RR0001

STAR RATING

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

[Charity Rating: 2/5]

✔+

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.

71%

CENTS TO THE CAUSE

For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 71 cents are available for programs.



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OVERVIEW

About Hamilton Health Sciences Foundation:

Hamilton Health Sciences Foundation is a 2-star charity. It has a C+ results reporting grade, which is below average. For every dollar donated to the charity, 71 cents are available to go to the cause. 

Founded in 1976, Hamilton Health Sciences Foundation (HHSF) raises money to fund activities at Hamilton Health Sciences to five local hospitals. Hamilton Health Sciences supports the Hamilton General Hospital, the Juravinski Hospital and Cancer Centre, the McMaster Children's Hospital, St. Peter’s Hospital, and Ron Joyce Children's Health Centre. According to the foundation, HHSF serves a region of 2.3 million people across south-central Ontario. Hamilton Health Sciences Foundation reported four programs on its annual report: Equipment and Patients, Research and Fellowships, Redevelopment.

Equipment and Patients: In F2022, HHSF spent $6.2m on its Equipment and Patients program. This represents 55% of total program spending. In F2022 175,000 patients visited Hamilton Health Sciences emergency departments. Hamilton Health Sciences reported 180,000 virtual patient visits in 2022. McMaster Children’s Hospital served over 188,000 youth patients in 2022. Ron Joyce Children’s Health Centre reported 88,000 patients visited the hospital in 2022. Over 4,000 patients visited St. Peter’s Hospital in 2022. The charity reported that it purchased a new portable ultrasound unit, an ECMO simulator, and a new CyberKnife Radiation Unit at Juravinski Hospital. HHSF reports that CyberKnife will treat 350 patients each year.

Research and Fellowships: In F2022, HHSF spent $3.3m on its Research and Fellowships program. This represents 29% of total program spending. Hamilton Health Sciences Foundation provides funding to Hamilton Health Sciences, which is in partnership with McMaster University, to fund research. The charity reports that Hamilton Health Sciences is currently involved in 260 clinical trials.

Redevelopment: In F2022, HHSF spent $1.4m on its Redevelopment program. This represents 12% of total program spend. Hamilton Health Sciences Foundation provides funding for structural improvements at local hospitals. The charity planted a new pollinator garden at St. Peter’s Hospital in F2022.

 

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Results and Impact

In F2022, a rehabilitation centre team attended a brain injury conference in Ireland. The team discovered that 15% of people diagnosed with a concussion will experience chronic symptoms.

The Hamilton Health Sciences Hospital network is the seventh best research hospital in Canada, according to researchinfosource.com. 

While Charity Intelligence highlights these key results, they may not be a complete representation of Hamilton Health Sciences Foundation’s results and impact.

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

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Finances

Hamilton Health Sciences Foundation received $22.8m in donations of $22.8m in F2022. The charity received $808k in lottery income, less expenses. Administrative and fundraising costs are 29% of revenue (excluding investment income). For every dollar donated, 71 cents are available to go to the cause, which is within Ci’s reasonable range for overhead spend.

HHSF has $165.7m in reserve funds. Of this, $18.2m is externally endowed. Excluding externally endowed funds, the charity’s reserve funds can cover 1488% or 14 years and 11 months of its annual program costs. This is an increase since F2021, where the charity could cover 1255%, or 12.5 years of its annual program costs.

Charity Intelligence sent an update of this report to Hamilton Health Sciences Foundation for review. Changes and edits may be forthcoming.

Updated on June 2, 2023 by Liam Chapleau.

Financial Review


Financial Ratios

Fiscal year ending December
202220212020
Fundraising & admin costs as % of revenues 29.4%25.7%34.6%
Total overhead spending 29.4%25.7%34.6%
Program cost coverage (%) 987.0%750.1%607.5%

Summary Financial Statements

All figures in $000s
202220212020
Donations 22,82523,82318,111
Lotteries (net) 808807645
Investment income (5,925)15,5218,490
Total revenues 17,70840,15127,247
Program costs 000
Grants 11,39413,81813,554
Fundraising & administrative costs 6,7096,1326,272
Total spending 18,10319,95019,826
Cash flow from operations (395)20,2007,420
Capital spending 20447
Funding reserves 165,718165,590145,609

Note: Ci has presented lottery income as net of expenses, affecting revenue and expenses by ($1.1m) in F2022, ($1.1m) in F2021, and ($726k) in F2020. Ci does not include amortization in expenses, affecting expenses by ($125k) in F2022, ($123k) in F2021, and ($114k) in F2020.  Gross funding reserves include cash and equivalents, investments, and mortgage receivable less funds held in trust – due to Hamilton Health Sciences. Ci accounts for revenue and expenses only when it has been paid or received. As such, grants due to health sciences was impacted by ($570.0k) in F2022, ($1.2m) in F2021, and $1.7m in F2022. 

Salary Information

Full-time staff: 31

Avg. compensation: $119,022

Top 10 staff salary range:

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

Information from most recent CRA Charities Directorate filings for F2021

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Comments & Contact

Comments added by the Charity:

No comments have been added by the charity.

Charity Contact

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

Tel - (905) 522-3863



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Charitable Registration Number: 80340 7956 RR0001