IWK Health Centre Foundation

B220-5855 Spring Garden Road
Halifax, NS B3H 4S2
President & CEO: Jennifer Gillivan
Board Chair: David Glenn Fountain

Charitable Reg. #:86755 8090 RR0001

STAR RATING

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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.

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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Programs

About IWK Health Centre Foundation:

Founded in 1997, IWK Health Centre Foundation (IWK Foundation) is the fundraising arm of IWK Health Centre in Halifax, Nova Scotia. Donations support priority equipment and fund programs, research and new facilities at IWK Health Centre. IWK Foundation’s mission is to champion excellence in health care for women and children in the Maritimes. 

In F2018, IWK Foundation granted $17.7m to IWK Health Centre. Main granting areas were research, equipment purchases, healthcare programs, and new facilities. A research highlight in F2018 was the Terry Fox PROFYLE (short for PRecision Oncology For Young peopLE) program, which treats young cancer patients that require unconventional treatment options. In F2018, the program brought together more than 30 of Canada’s leaders in pediatric cancer research and care. 

In F2018, IWK Foundation funded the purchase of priority equipment, including new stretchers that can be lowered to the floor for accessibility, and a trauma cart for easy access to resuscitation supplies. The foundation also funded an Interventional Radiology Suite/Cardiac Catheterization Suite that visualizes a contrast agent injected into the body, thus providing a minimally-invasive way to conduct diagnostics, such as biopsies and cardiac angiographies.  

IWK Foundation funds special programs such as the Breast Health program. In F2018, the foundation supported the expansion of the women’s health program, including the opening of the Garron Early Labour Assessment Unit (ELAU)The ELAU includes seven examination rooms where expectant mothers are assessed before being admitted to the Birth Unit.  

In F2018, IWK Foundation funded the construction of new neonatal and pediatric intensive care units. In April 2018, NICU North opened, allowing families to stay overnight with neonatal babies. The foundation reports that NICU South aims to be completed by spring 2019, bringing the total number of single rooms for NICU families from 19 to 38. In 2020, the foundation aims to open the new PICU which will have 10 single rooms for pediatric patients and their families.  

IWK Health Centre Foundation reports that the remainder of grants went towards funding for “specified or restricted purposes.” 

Note: Since the 2019 annual report was not available at the time of this profile update, Charity Intelligence reports information from the 2018 annual report.  

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Finances

IWK Health Centre Foundation is a Large charity, receiving $14.0m in donations and special events fundraising revenue in F2019. Administration costs are 12% of revenues (excluding investment income), and fundraising costs are 20% of revenues (excluding investment income). For every dollar donated, 68 cents go to IWK Foundation’s programs. This is within Charity Intelligence’s reasonable range for overhead spending. 

IWK has funding reserves of $79.4m, that cover grants at current levels for 6 years. These funding reserves are likely due to the recent campaign (the construction of NICU South and the new PICU) and will likely be drawn down to fund special projects in the short term. 

This charity report is an update that was sent to IWK Health Centre Foundation for reviewChanges and edits may be forthcoming. 

Updated July 18, 2019 by Caroline McKenna. 

Financial Review


Financial Ratios

Fiscal year ending March
201920182017
Administrative costs as % of revenues 12.3%12.1%23.6%
Fundraising costs as % of donations 20.3%23.7%9.2%
Total overhead spending 32.5%35.7%32.8%
Program cost coverage (%) 613.3%449.1%1,206.9%

Summary Financial Statements

All figures in $000s
201920182017
Donations 6,4645,7886,594
Special events 7,5736,6506,716
Investment income 1,6223,9478,067
Other income 1,6932,8611,515
Total revenues 17,35219,24522,891
Grants 12,94417,7206,870
Administrative costs 1,9301,8443,500
Fundraising costs 2,8442,9471,218
Total spending 17,71822,51111,588
Cash flow from operations (365)(3,266)11,304
Funding reserves 79,37679,57882,919

Note: Since the 2019 annual report was not available at the time of this profile update, Charity Intelligence reports information from the 2018 annual report, and 2019 audited financial statements.   Charity Intelligence "follows the money" for donors and consistently reports grants on a cash basis, unwinding the accrued accounting provided in audited financial statements. IWK Foundation reports grants to IWK Health that include commitments and payments to make in future periods. This includes short-term timing with IWK Foundation waiting to receive receipts from IWK Health. These commitments/accrueds were ($5.9m) in F2019, ($9.2m) in F2018, and $5.3m in F2017.    

Salary Information

Full-time staff: 30

Avg. Compensation $65,141

Top 10 staff salary range

$350k +
0
$300k - $350k
0
$250k - $300k
0
$200k - $250k
0
$160k - $200k
0
$120k - $160k
1
$80k - $120k
3
$40k - $80k
6
< $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.iwkfoundation.org
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 1-800-595-2266 

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