Southlake Regional Health Centre Foundation

102-581 Davis Drive
Newmarket, ON L3Y 2P6
President & CEO: Susan Mullin
Board Chair: Dave Wattling

Charitable Reg. #:13179 7540 RR0001

STAR RATING

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

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✔+

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.

65%

CENTS TO THE CAUSE

For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 65 cents are available for programs.

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Programs

About Southlake Regional Health Centre Foundation:

Southlake Regional Health Centre Foundation is the fundraising arm of Southlake Regional Health Centre, a full-service hospital located in Newmarket, Ontario. The charity fundraises to support Southlake Regional Health Centre and the community it serves.  In F2017, the charity granted $10.8m to Southlake Regional Health Centre and $15k to the community on behalf of the hospital.  

Southlake Regional Health Centre Foundation raises money for equipment, technology, and renovation projects across cardiac, cancer, surgical, mental health, maternal child & paediatrics, emergency, medicine, and paramedical programs. In F2017, the foundation replaced 9 anesthesia machines, and aims to continue replacing the whole fleet of 24 machines. The hospital annually performs over 1,100 cardiac surgeries, 13,000 operating room procedures, and 2,600 birth deliveries. In its paramedic program, the hospital performed 323,096 diagnostic exams, 18,923 MRI scans, and 27,496 CT scans in a year. The foundation’s F2017 annual report said constructions were underway for a 10-bed residential hospice that will provide end-of-life care to over 250 patients and their families annually.

Results and Impact: Southlake Regional Health Centre Foundation reports that the hospital has 99% patient satisfaction in its cancer ward and that the hospital has the top Regional Cancer program in Ontario based on 16 provincial performance indicators. The foundation also states that at an average of 40 minutes, the hospital has had the shortest emergency wait time in Ontario for three consecutive years.

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Finances

Southlake Regional Health Centre Foundation is a Large charity with $10.8m in donations in F2017. Administrative costs are 13% of revenues, down from 17% in F2015. Fundraising costs are 22% of donations. For every dollar donated, 65 cents go to the cause, falling just outside of Ci's reasonable range. The foundation has funding reserves of $30.1m, including $11.1m of donor-endowed funds. Excluding donor-endowed funds, funding reserves can cover annual grants for 1.9 years.

This charity report is an update that has been sent to Southlake Regional Health Centre Foundation for review. Changes and edits may be forthcoming.

Updated on July 18, 2018 by Joeyanne Cheung.

Financial Review


Financial Ratios

Fiscal year ending March
201720162015
Administrative costs as % of revenues 13.3%14.9%17.0%
Fundraising costs as % of donations 22.1%24.2%25.2%
Program cost coverage (%) 279.3%1,037.3%240.5%

Summary Financial Statements

All figures in $000s
201720162015
Donations 10,82710,0707,943
Investment income 2,836(603)1,956
Total revenues 13,6629,4679,899
Program costs 000
Grants 10,7872,95111,760
Administrative costs 1,4411,4971,346
Fundraising costs 2,3972,4342,002
Cash flow from operations (963)2,584(5,209)
Funding reserves 30,12930,61428,279

Note: Ci used administrative and fundraising cost allocations from the charity's T3010 CRA filing as the charity did not report fundraising costs separately from administration costs on its audited financial statements. In F2015, the foundation reported an undisclosed negative expense that Ci has taken out of Administrative costs.

Salary Information

Full-time staff: 20

Avg. Compensation $105,652

Top 10 staff salary range

$350k +
0
$300k - $350k
0
$250k - $300k
1
$200k - $250k
0
$160k - $200k
1
$120k - $160k
1
$80k - $120k
5
$40k - $80k
2
< $40k
0

Information from most recent CRA Charities Directorate filings for F2017

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Comments & Contact

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Charity Contact

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

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