Oakville Hospital Foundation
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✔+
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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OVERVIEW
About Oakville Hospital Foundation:
Oakville Hospital Foundation is a 2-star, financially transparent charity. Its results reporting score is C-, which is below average. Its overhead spending is outside Ci’s reasonable range. Its reserve funds can cover two years and eleven months of annual program costs.
Founded in 1991, Oakville Hospital Foundation (OHF) raises funds for Oakville Trafalgar Memorial Hospital, part of the Halton Healthcare system. In F2023, it reported grants of $5.4m. These grants entirely go towards funding capital.
In F2023, the charity reported supporting 37,705 surgeries, 83,322 emergency department visits, and 23,461 oncology visits at OTMH. It also reported supporting the births of 2,693 babies.
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Finances
Oakville Hospital Foundation received $13.5m in donations in F2023. Administrative costs are 5% of total revenues (minus investment income). Fundraising costs are 30% of donations. Total overhead spending is 35%. For every dollar donated, 65 cents are available to go to the cause. This is outside Ci’s reasonable range of overhead spending.
OHF has $28.8m in net funding reserves. Included in these are $15.6m in donor-endowed funds. Excluding these funds, its reserves can cover two years and eleven months of annual program costs.
Oakville Hospital Foundation reported using external fundraisers in F2023. It paid these fundraisers $199k to raise $130k. This puts the cost of raising a dollar at $1.53. Donors are advised to given directly to the Foundation rather than to these external fundraisers.
Charity Intelligence has sent this update to Oakville Hospital Foundation for review. Changes and edits may be forthcoming.
Updated on June 18, 2024 by Stellar Zhang.
Financial Review
Fiscal year ending March
|
2023 | 2022 | 2021 |
|---|---|---|---|
| Administrative costs as % of revenues | 4.8% | 5.8% | 7.6% |
| Fundraising costs as % of donations | 30.4% | 35.8% | 33.6% |
| Total overhead spending | 35.1% | 41.6% | 41.2% |
| Program cost coverage (%) | 288.0% | 674.8% | 97.9% |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
|---|---|---|---|
| Donations | 13,506 | 9,324 | 8,628 |
| Investment income | 109 | 1,560 | 3,560 |
| Other income | 73 | 196 | 31 |
| Total revenues | 13,688 | 11,080 | 12,219 |
| Grants | 5,370 | 2,591 | 12,760 |
| Donor-designated donations | 918 | 1,373 | 1,044 |
| Administrative costs | 647 | 556 | 660 |
| Fundraising costs | 4,101 | 3,335 | 2,896 |
| Total spending | 11,036 | 7,855 | 17,360 |
| Cash flow from operations | 2,652 | 3,225 | (5,141) |
| Capital spending | 0 | 0 | 0 |
| Funding reserves | 28,841 | 27,828 | 26,056 |
Note: Ci reported fundraising and administrative costs from the charity’s T3010 filing with the CRA. The charity also appears to have made an error in its T3010 filing with the CRA in its total compensation. As such, full-time compensation information could not be accurately calculated. Ci adjusted for donor-designated grants, affecting expenses by $9k in F2023, $1.3m in F2022, and $1.0m in F2021. Ci also adjusted for deferred revenue within other income, affected revenue by $73k in F2023, $18k in F2022, and $2k in F2021. Ci included investment income within revenue, affecting it by $109k in F2023, $1.6m in F2022, and $3.6m in F2021.
Salary Information
$350k + |
1 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
2 |
$120k - $160k |
2 |
$80k - $120k |
5 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2023
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Comments & Contact
Comments added by the Charity:
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 905-338-4642