Montreal Heart Institute Foundation

5000 Bélanger Street
Montreal, QC H1T 1C8
Executive Director: Alain Gignac
Board Chair: Daniel Lamarre

Charitable Reg. #:10183 7896 RR0001


Ci's Star Rating is calculated based on the following independent metrics:

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Audited financial statements for current and previous years available on the charity’s website.



Grade based on the charity's public reporting of the work it does and the results it achieves.



The demonstrated impact per dollar Ci calculates from available program information.


Charity's cash and investments (funding reserves) relative to how much it spends on programs in most recent year.



For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 73 cents are available for programs.

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About Montreal Heart Institute Foundation:

Founded in 1977, Montreal Heart Institute Foundation (MHIF) is the fundraising arm for Montreal Heart Institute, which treats 50,000 people from Quebec annually. MHIF’s mission is to support research, care, teaching, prevention, rehabilitation, and evaluation of new technologies at Montreal Heart Institute. The Foundation aims to fund innovative projects that focus on less invasive techniques and better preventative measures, and it states that the Institute is both the largest preventative medicine center in Canada and leading cardiovascular teaching hospital in Quebec. MHIF divides its grants into five categories: research, investing in excellence, technological innovation, prevention, and education.

In 2018, MHI’s Pharmacogenomics Centre was constructed and thus far they have done genotyping of over 24,000 participants across 90 clinical trials. With the addition of a da Vinci Xi surgical robot to the Institute, two new robotic surgery programs were put in place for coronary and mitral surgeries in 2018. So far, 47 robot-assisted surgeries have occurred.

MHI’s EPIC Center is the largest cardiovascular disease prevention center in Canada. In 2018, they installed two new laboratories, one for integrative human physiology and one for cognitive impairment and cardiovascular disease. Also within the year, Phase I of an expansion project finished which tripled the amount of medical services space available. Annually, the EPIC Center has over 300,000 patient visits and conducts 12,000 medical evaluations.

In 2018, Montreal Heart Institute performed 2,319 surgeries, including 1,959 major heart surgeries. There were 17,834 emergency room visits, 8,666 hospitalizations, and 62,151 visits to outpatient and specialization clinics. 927 valvular surgeries were performed, of which 169 were minimally-invasive procedures. Half of the patient population treated within the year came from the Island of Montreal.

Results and Impact: Multiple MHIF-funded researchers made research breakthroughs in 2018. Dr. Tardif and his team discovered the mechanism behind protective effects of reduced activity of the ADCY9 gene in atherosclerosis. Dr. Turcot identified eight new genes that influence diabetes development, which may be used to develop new tests for preventing and/or treating obesity. Dr. Khairy developed a new magnetic guidance technique to precisely position cardiac ablation catheters. MHIF states that funded researchers at MHI publish 180 scientific articles per year, on average.

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Montreal Heart Institute Foundation is a large charity, with total donations and special events fundraising of $18.1m in F2018. Administrative costs are 11% of revenues and fundraising costs are 15% of donations. Per $1 donated, 73 cents go to the cause, which falls within Ci’s reasonable range for overhead spending. Funding reserves of $130.0m can cover annual granting activities for 6.3 years.

MHIF has pledged to donate $31.0m to Montreal Heart Institute, including $20.2m for Phase II of the Investing in Excellence construction project.

This charity report is an update that has been sent to the charity for review. Comments and edits may be forthcoming.

Updated on December 4, 2018 by Katie Khodawandi.

Financial Review

Financial Ratios

Fiscal year ending March
Administrative costs as % of revenues 11.5%10.2%14.2%
Fundraising costs as % of donations 15.3%16.1%25.0%
Program cost coverage (%) 0.0%0.0%0.0%

Summary Financial Statements

All figures in $000s
Donations 14,30516,3158,767
Special events 3,7764,2424,595
Investment income 6,76012,782(618)
Total revenues 24,84133,34012,744
Grants 20,50527,30313,080
Administrative costs 2,0742,0881,900
Fundraising costs 2,7663,3053,345
Cash flow from operations (505)643(5,580)
Funding reserves 130,016129,756127,691

Note: Ci included realized and unrealized gains/loss on investments in total investment income. Ci did not exclude externally-restricted funds from funding reserves, including such amounts when calculating the charity’s program cost coverage.

Salary Information

Full-time staff: 20

Avg. Compensation: $88,776

Top 10 staff salary range:

$350k +
$300k - $350k
$250k - $300k
$200k - $250k
$160k - $200k
$120k - $160k
$80k - $120k
$40k - $80k
< $40k

Information from most recent CRA Charities Directorate filings for F2017

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