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.
B-
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.
67%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 67 cents are available for programs.
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OVERVIEW
About Markham Stouffville Hospital Foundation :
Markham Stouffville Hospital Foundation is a good, three-star charity with reasonable overhead spending but a below-average results reporting grade. As with most hospital foundations, the charity has large funding reserves that can cover grants to the hospital for over three years.
Founded in 1989, Markham Stouffville Hospital Foundation (MSTHF) is a charity that 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. MSTHF granted $6.5m to the hospital for equipment purchases and patient care in F2021.
The foundation provided funding for a variety of patient care programs including childbirth, emergency, and care transitions. MSTHF reports that the hospital treated 451,547 patients in F2021. During the year, the hospital had 63,702 emergency department visits. It also delivered 3,509 babies.
The charity funded the purchase of equipment for surgeries and diagnostic tests. In F2021, the hospital performed 8,028 surgeries, 183,711 diagnostic exams, and 14,813 MRIs. It also conducted 1,325,374 lab tests and 124,152 covid-19 tests during the year.
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Results and Impact
In F2021, Markham Stouffville Hospital treated 2,890 chemotherapy patients. While Charity Intelligence highlights these key results, they may not be a complete representation of MSTHF’s results and impact.
This charity is not yet rated on impact (n/r).
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Finances
Markham Stouffville Hospital Foundation received $9.4m in Canadian donations and fundraising revenue in F2021. It also earned $3.0m in investment income in F2021, which represents a 21% annual return. The average annual investment return since F2013 is 7%.
Administrative costs are 9% of revenues excluding investment income. Fundraising costs are 25% of donations. This results in total overhead spending of 33%. For every dollar donated to the charity, 67 cents go to the cause. This is within Ci’s reasonable range for overhead spending.
MSTHF has $23.7m in funding reserves which can cover annual program costs for around 3 years and 8 months. MSTHF reports that it paid external fundraisers $14k in F2019 according to its T3010 filing with the CRA. The amount of money raised was not disclosed.
This charity report is an update that has been sent to Markham Stouffville Hospital Foundation for review. Changes and edits may be forthcoming.
Updated June 2nd, 2022 by Arjun Kapur.
Financial Review
Fiscal year ending March
|
2021 | 2020 | 2019 |
---|---|---|---|
Fundraising & admin costs as % of revenues | 33.4% | 38.5% | 51.2% |
Total overhead spending | 33.4% | 38.5% | 51.2% |
Program cost coverage (%) | 366.1% | 358.5% | 403.1% |
Summary Financial StatementsAll figures in $000s |
2021 | 2020 | 2019 |
---|---|---|---|
Donations | 8,512 | 7,083 | 5,022 |
Special events | 888 | 1,677 | 2,477 |
Investment income | 2,969 | 22 | 1,211 |
Total revenues | 12,368 | 8,782 | 8,711 |
Grants | 6,476 | 5,859 | 5,355 |
Administrative costs | 842 | 0 | 0 |
Fundraising costs | 2,301 | 0 | 0 |
Fundraising & administrative costs | 0 | 3,372 | 3,843 |
Total spending | 9,619 | 9,231 | 9,198 |
Cash flow from operations | 2,749 | (449) | (487) |
Capital spending | 21 | 50 | 4 |
Funding reserves | 23,706 | 21,009 | 21,588 |
Note: Ci adjusted grants by changes in amounts due to Markham Stouffville Hospital, affecting total expenses by $7k in F2021, ($3k) in F2020, and ($13k) in F2019. Ci used the charity's T3010 filing with the CRA to break apart administrative and fundraising costs from program costs in F2021. The charity's previous T3010 filings did not disclose administrative costs or fundraising costs.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
1 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
3 |
$80k - $120k |
6 |
$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:
Charity Contact
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