Southlake Regional Health Centre Foundation
Newmarket, ON L3Y 2P6
President & CEO: Neila Poscente
Board Chair: Dave Wattling
Website: www.southlakefoundation.ca
Charitable Reg. #: 13179 7540 RR0001
Charity Rating
Donor Accountability
Grade: C+
The grade is based on the charity's public reporting of the work it does and the results it achieves.Financial Transparency
Need for Funding
endowed
Spending Breakdown
Cents to The Cause
| ♦ | ♦ | ♦ | |
| 95¢ | |||
| 75¢ | |||
| avg | |||
| 65¢ | |||
| 50¢ | |||
| 2013 | 2014 | 2015 |
Full-time staff #27
Avg. Compensation $78,643
Top 10 Staff Salary Range
| $350k + | 0 |
| $300k - $350k | 0 |
| $250k - $300k | 0 |
| $200k - $250k | 1 |
| $160k - $200k | 0 |
| $120k - $160k | 2 |
| $80k - $120k | 7 |
| $40k - $80k | 0 |
| < $40k | 0 |
About Southlake Regional Health Centre Foundation:
The Southlake Regional Health Centre Foundation is the fundraising arm of the Southlake Regional Health Centre, a full-service hospital located in Newmarket, Ontario. The charity fundraises to support the Southlake Regional Health Centre and the community it serves. In F2015, the charity granted $11.7m to the Southlake Regional Health Centre and $52k to the community on behalf of the hospital. The charity reports that 29% of donations are spent on cardiac care and 21% on cancer care.
In F2014, the Southlake Regional Health Centre completed 739 pacemaker procedures, 345 defibrillator procedures, and 310 complex ablations. On average, the hospital treats 22 patients in palliative care at any given time, and 170 patients and families use the hospice facilities each year. In F2015, the foundation completed the $16m Images for Life Campaign to upgrade diagnostic imaging across the hospital. With the campaign funding, the hospital opened a new Interventional Radiology Suites in 2012 and the hospital expects to accept patients to its second MRI machine in 2016.
Financial Review:
In F2015, the Southlake Regional Health Centre Foundation spent 18% of revenues on administrative costs and 25% of donations on fundraising costs. Total overhead costs of 43% fall outside of Ci's reasonable range. The foundation has funding reserves $28.3m, including $10.6m of donor-endowed funds. The total funding reserve can cover annual grants for 2.4 years or 1.6 years excluding donor-endowed funds.
Analysis updated by Ruoxi Gao in 2016, currently under review by the Southlake Regional Health Centre Foundation.
Financial RatiosFiscal year ending March |
2015 | 2014 | 2013 |
|---|---|---|---|
| Administrative costs as % of revenues | 18.2% | 8.2% | 14.5% |
| Fundraising costs as % of donations | 25.2% | 17.8% | 19.4% |
| Program cost coverage (%) | 240.9% | 720.7% | 344.2% |
Summary Financial StatementsAll figures in $000s |
2015 | 2014 | 2013 |
|---|---|---|---|
| Donations | 7,943 | 12,608 | 8,562 |
| Investment income | 1,956 | 3,277 | 1,732 |
| Other income | 0 | 230 | 195 |
| Total revenues | 9,899 | 16,116 | 10,490 |
| Grants | 11,760 | 4,706 | 7,230 |
| Administrative costs | 1,445 | 1,047 | 1,272 |
| Fundraising costs | 2,002 | 2,248 | 1,663 |
| Cash flow from operations | (5,308) | 8,115 | 325 |
| Funding reserves | 28,329 | 33,912 | 24,887 |
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The information in this report was prepared by Charity Intelligence Canada and its independent analysts from publically-available information. Charity Intelligence Canada and its analysts have made endeavours to ensure that the data in this report is accurate and complete but accept no liability. No attempt has been made to examine the effectiveness of the charities' programs.
Comments added by the Charity:
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