McGill University Health Centre 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.
82%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 82 cents are available for programs.
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Programs
About McGill University Health Centre Foundation:
Founded in 1998, McGill University Health Centre Foundation (MUHC Foundation) raises funds for equipment, research, and patient care at McGill University Health Centre. In 2018, MUHC Foundation merged with Royal Victoria Hospital (RVH) Foundation, since RVH became part of the MUHC network several years earlier in 2015. McGill University Health Centre Foundation now supports four MUHC hospital sites and the Research Institute of the MUHC (RI-MUHC). The foundation’s main office is in Montreal.
In F2020, MUHC Foundation provided a total of $26.4m in grants. These grants support research, patient care, and new equipment purchases at MUHC.
MUHC Foundation helped to establish the McGill Interdisciplinary Initiative in Infection and Immunity (MI⁴) in April 2018 to conduct groundbreaking research on infections. Research at MI⁴ focuses on four main themes: antimicrobial resistance, emerging and re-emerging diseases, infections in vulnerable populations, and diseases of altered immunity. In F2019, MUHC Foundation granted $150k each to 12 MI⁴ projects. In total, MI⁴ brings together more than 250 researchers.
MUHC Foundation also funds various programs for patient care and education at MUHC sites. For instance, the MUHC Women’s Healthy Heart Initiative (WHHI) is Canada’s first nurse-led, women’s heart disease prevention program. The WHHI provides personalized care for women and teaches strategies to reduce risks of heart disease. In the past decade, MUHC Foundation reports that WHHI has reached more than 950 women.
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Results and Impact
MUHC Foundation funds critical research on topics ranging from diabetes to HIV testing. Research by Dr. Kaberi Dasgupta found that regular walking can lead to a 40% reduction in mortality rates for adults with type 2 diabetes. Dr. Dasgupta’s research into the efficacy of treatment methods also showed that a physician-prescribed step count and pedometer could lead to a 20% increase in daily steps among patients, contributing to lower blood sugar and insulin resistance. Dr. Nitika Pant Pai, another MUHC researcher, helped develop a new app that could detect the presence of HIV antibodies within only 20 minutes.
While Ci highlights these key results, they may not be a complete representation of McGill University Health Centre Foundation’s results and impact.
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Finances
McGill University Health Centre Foundation is a Major 100 charity, one of Canada’s largest charities, with $26.2m in donations and special events revenue in F2020. Administrative costs are 15% of revenues (less investment income) and fundraising costs are 3% of donations and special events revenue. This results in total overhead spending of 18%. For every dollar donated to the charity, 82 cents go to the cause. This falls within Ci’s reasonable range for overhead spending.
MUHC Foundation has $116.1m in liquid assets and ($34.0m) in mortgages on land and buildings. This means that its net funding reserves are $82.1m, of which $81.8m is donor-endowed. Excluding donor-endowed funds, the charity can cover under one month of program costs with its net funding reserves. The charity can cover around 1.5 years of annual program costs with its gross funding reserves.
This charity report is an update that has been sent to McGill University Health Centre Foundation for review. Changes and edits may be forthcoming.
Updated on August 19, 2020 by Eric Zhao.
Financial Review
Fiscal year ending March
|
2020 | 2019 | 2018 |
|---|---|---|---|
| Administrative costs as % of revenues | 15.4% | 15.5% | 14.8% |
| Fundraising costs as % of donations | 2.8% | 3.2% | 2.9% |
| Total overhead spending | 18.3% | 18.6% | 17.7% |
| Program cost coverage (%) | 1.1% | 14.3% | (38.5%) |
Summary Financial StatementsAll figures in $000s |
2020 | 2019 | 2018 |
|---|---|---|---|
| Donations | 23,953 | 26,353 | 22,832 |
| Special events | 2,256 | 1,392 | 996 |
| Investment income | (7,173) | 3,844 | 4,538 |
| Other income | 241 | 241 | 232 |
| Total revenues | 19,277 | 31,829 | 28,598 |
| Grants | 26,423 | 20,371 | 15,007 |
| Administrative costs | 4,083 | 4,328 | 3,557 |
| Fundraising costs | 740 | 873 | 685 |
| Total spending | 31,247 | 25,572 | 19,249 |
| Cash flow from operations | (11,969) | 6,257 | 9,350 |
| Funding reserves | 82,056 | 92,658 | 85,883 |
Note: Ci included investment income (less investment management fees), affecting total revenues by ($7.2m) in F2020, $3.8m in F2019, and $4.5m in F2018. Ci included other income, affecting total revenues by $241k in F2020, $241k in F2019, and $232k in F2018. Ci reported distributions to MUHC and other distributions as grants, affecting total expenses by $27.9m in F2020, $21.0m in F2019, and $14.8m in F2018. To report on a cash basis, Ci adjusted grants by changes in amounts payable to MUHC. This affected grants and total expenses by ($1.4m) in F2020, ($596k) in F2019, and $235k in F2018.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
1 |
$160k - $200k |
1 |
$120k - $160k |
1 |
$80k - $120k |
4 |
$40k - $80k |
3 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2019
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Comments & Contact
Comments added by the Charity:
Charity Contact
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