Markham Stouffville 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.
87%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 87 cents are available for programs.
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OVERVIEW
About Markham Stouffville Hospital Foundation :
Markham Stouffville Hospital Foundation is a 2-star charity. It has a C- Results Reporting grade, which is below average. The charity's reserves can cover its cash and investments for over 11 years. For every dollar donated to the charity, 87 cents are available to go to the cause, which is within Ci's reasonable range.
Founded in 1989, Markham Stouffville Hospital Foundation (MSHF) raises money for Markham Stouffville Hospital. The foundation wants to provide the highest quality of care to patients by funding the hospital’s priority needs. The hospital mainly serves people in Markham and Whitchurch-Stouffville, Ontario. In F2023, the charity granted $4.4m to the hospital for equipment purchases and patient care.
Markham Stouffville Hospital Foundation is running a $150.0m capital campaign. The charity states that by 2030 it will treat up to 115,000 patients in its Emergency Department and deliver 6,000 babies a year. MSHF also states that the needs for its cancer care, surgeries, and mental health care will double by 2030. MSHF does not state how many patients and babies it currently treats. Of the $150.0m, $65.0 will go toward a new Ambulatory Centre, which will increase the number of beds from 354 to 491; $65.0m will purchase equipment to enhance patient care; and $20.0m will build a research centre.
Since founding, MSHF has treated 434,000 patients. In F2023, the charity purchased a new GreenLight Laser for prostate surgeries. MSHF also opened a new Breast Health Centre in F2023.
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Results and Impact
Charity Intelligence found MSHF reported many stories but little data / few results on its work. This may not be a complete representation of Markham Stouffville Hospital Foundation’s results and impact.
This charity is not yet rated on impact (n/r).
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Finances
Markham Stouffville Hospital Foundation received $34.8m in donations and special events revenue in F2023, a 209% increase compared to $11.3m in F2022. MSHF spent $4.4m on its grants, which is 12% of revenue. The charity recorded a surplus of $26.3m, which is 75% of revenue.
Administrative costs are 5% of revenue (excluding investment income). Fundraising costs are 8% of donations. For every dollar donated to the charity, 87 cents are available to go to the cause, which is within Ci’s reasonable range.
Markham Stouffville Hospital Foundation has $51.0m in reserve funds (cash and investments), which is a 109% increase compared to F2022. The charity’s reserves can cover 1,158%, or 11 years and 7 months of its annual grant costs.
MSHF’s $45.4m in investments returned $442k, at a return of 1%. Over the past ten years, MSHF’s investments averaged a 6% return.
MSHF’s T3010 filing states it paid $16k to external fundraisers, but does not report any money collected by external fundraisers.
This charity report is an update that has been sent to Markham Stouffville Hospital Foundation for review. Changes and edits may be forthcoming.
Updated on June 24, 2024 by Liam Chapleau.
Financial Review
Fiscal year ending March
|
2023 | 2022 | 2021 |
|---|---|---|---|
| Administrative costs as % of revenues | 5.0% | 11.7% | 10.2% |
| Fundraising costs as % of donations | 8.1% | 20.7% | 24.8% |
| Total overhead spending | 13.0% | 32.4% | 35.0% |
| Program cost coverage (%) | 1,157.7% | 338.9% | 366.1% |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
|---|---|---|---|
| Donations | 32,624 | 10,367 | 8,396 |
| Special events | 2,223 | 906 | 888 |
| Investment income | 442 | 239 | 2,969 |
| Total revenues | 35,289 | 11,513 | 12,253 |
| Grants | 4,408 | 7,218 | 6,476 |
| Administrative costs | 1,727 | 1,319 | 947 |
| Fundraising costs | 2,814 | 2,337 | 2,302 |
| Total spending | 8,948 | 10,874 | 9,724 |
| Cash flow from operations | 26,340 | 638 | 2,529 |
| Capital spending | 16 | 246 | 21 |
| Funding reserves | 51,032 | 24,465 | 23,706 |
Note: 1: USE OF T3010: Ci used the charity’s T3010 filing with the CRA to allocate administrative and fundraising costs. This increased expenses by $199k in F2023, $233k in F2022, and $105k in F2021. Ci removed amortization from administrative and fundraising costs on a pro-rata basis. 2: DEFERRED REVENUE: Ci accounted for deferred revenue, affecting donations by ($103k) in F2023, $101k in F2022, and ($115k) in F2021. 3: CHANGE IN AMOUNT DUE TO HOSPITAL: Ci adjusted grants by the change in amount due to the hospital, affecting grants by ($2k) in F2023, $535 in F2022, and $7k in F2021.
Salary Information
$350k + |
0 |
$300k - $350k |
1 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
2 |
$80k - $120k |
6 |
$40k - $80k |
1 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2023
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Comments & Contact
Comments added by the Charity:
The following comments were added to a previous profile update. New comments may be forthcoming.
Markham Stouffville Hospital Foundation recently completed a $50M Expansion Campaign, raising $56M to enable our hospital’s first capital redevelopment. Thanks to tremendous community support, we are celebrating the opening of our new building and the complete renewal of our original building. Our new website, mshf.on.ca, reflects our commitment to donor accountability and includes audited financial statements for the past five years. Also available are a series of annual donor reports and publications including the current edition of our Healthy.Together.Markham.Stouffville TM magazine which contains a special Report to Donors highlighting the impact of donor support throughout the redevelopment project. As our expansion journey ends, a new one begins – one that will outfit our hospital with the most advanced technology and medical equipment. Our Strategic Plan, available online, outlines the fundraising focus required to support continued excellence in patient care at Markham Stouffville Hospital. To learn more please visit mshf.on.ca or call 905.472.7059.
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 905-472-7059