Dalhousie Medical Research Foundation
Halifax, NS B3H 4R2
CEO: Brian Thompson
Board Chair: Allan Shaw
Charitable Reg. #: 11922 9318 RR0001
Grade: B-The grade is based on the charity's public reporting of the work it does and the results it achieves.
Need for Funding
Cents to the Cause
Full-time staff #5
Avg. Compensation $105,617
Top 10 Staff Salary Range
|$300k - $350k||0|
|$250k - $300k||0|
|$200k - $250k||0|
|$160k - $200k||0|
|$120k - $160k||1|
|$80k - $120k||2|
|$40k - $80k||2|
About Dalhousie Medical Research Foundation:
Founded in 1979, Dalhousie Medical Research Foundation (DMRF) funds medical research at the Dalhousie University Medical School and its related research facilities across the Maritimes. DMRF funds research in four key areas: cancer, cardiology, neuroscience and mental health, and inflammation, inflection and immunity. The foundation’s office is in Halifax, Nova Scotia.
DMRF spent $1.5m on research grants (54% of total grants) in F2017. In addition, the foundation granted $837k (30% of total grants) to the Beatrice Hunter Cancer Research Institute (BHCRI) which is also based in Halifax. DMRF states that it directs all funding for cancer research to the BHCRI. On the BHCRI’s website, it states that “the institute provides a meeting place for researchers to share ideas and forge new collaborations at universities, hospitals and research institutes across Atlantic Canada and beyond.” Additionally, in 2018 Dalhousie researchers were awarded a total of 11 grants, representing a combined value of $7.7 million from the Canadian Institutes of Health Research.
DMRF provides grants to graduate students and postdoctoral fellows to encourage medical students to pursue research-oriented careers. In F2017, DMRF granted $220k (8% of total grants) to students in the Research in Medicine (RIM) Program at Dalhousie University. Each undergraduate student is provided with $5,000 to complete independent research projects. DMRF also granted $40k to graduate students (1% of total grants) and $54k in other prizes and awards (2%) in F2017.
DMRF also distributes equipment grants to Dalhousie medical researchers to set up and equip their laboratories. In F2017, DMRF provided $128k (5% of total grants) in equipment grants. The foundation has not provided a breakdown of its studentship, fellowship or equipment grant recipients since F2015.
Dalhousie Medical Research Foundation is a medium-sized charity with donations of $3.9m in F2018. Investment income earned on the foundation’s endowment fund was an additional $3.2m in F2018.
Dalhousie Medical Research Foundation's administration costs are 17% of donations (and also government funding of $2k), and fundraising costs are 24% of donations. Consistently using a global ratio, Charity Intelligence calculates that DMRF spent 41% on overhead. This is outside Ci’s reasonable range. However, in 2013, DMRF "adopted a policy of funding operating expenditures through investment income", as noted in Financial Note 2, see audited financial statements link above. DMRF's money earned from investments is available to offset overhead costs on donations, see charity's comment below.
Donors most asked question is "how much of my donation goes to the cause?" For charities with big endowments, this is a tricky question. The financial statements do not tell how much of donations go towards research grants, "the cause", relative to the endowment's investment income. Nor does one know how much of DMRF's $1.9m annual surplus (26% of revenues) in F2018 is donations or investment income. Furthermore, DMRF says that 100% of donations to some appeals go to research. Different fundraising events and different appeals will have different costs. The CRA Charities Directorate requires charities to report using a global calculation.
Dalhousie Medical Research Foundation has total funding reserves of $86.5m, which include $78.6m (91%) of endowed funds. DMRF's audited financial statements do not disclose donor-endowed and board-endowed funds. As such, Charity Intelligence can not breakout donor-endowed funds from total funding reserves. Assuming a 5% annual return on DMRF’s endowment fund, annual granting activities can be covered indefinitely.
DMRF's funding reserves earned investment income of $3.2m in F2018. This represents an annual return on investment of 4% compared with investment returns of 14% in F2017. As of F2018, the foundation holds its investments in stocks (78%) and bonds (18%), similar to weightings in F2017.
This charity report is an update that has been sent to Dalhousie Medical Research Foundation for review. Charity Intelligence and DMRF management have discussed this report. Additional changes and edits may be forthcoming.
Updated on August 3, 2018 by Derek Houlberg. Edited on May 24, 2019 by Kate Bahen.
Financial RatiosFiscal year ending March
|Administrative costs as % of revenues||16.5%||14.8%||11.4%|
|Fundraising costs as % of donations||24.3%||24.0%||16.5%|
|Program cost coverage (%)||2,361.3%||3,073.0%||2,440.6%|
Summary Financial StatementsAll figures in $000s
|Cash flow from operations||1,859||9,711||(1,932)|