Montreal Heart Institute Foundation

5000 Belanger Street
Montreal, QC H1T 1C8
CEO: Alain Gignac
Board Chair: Daniel Lamarre

Charitable Reg. #:10183 7896 RR0001

STAR RATING

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

[Charity Rating: 3/5]

✔+

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.

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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OVERVIEW

About Montreal Heart Institute Foundation:

Founded in 1977, Montreal Heart Institute Foundation (MHIF) is the fundraising arm for Montreal Heart Institute (MHI), which treats 68,000 people from Quebec annually. MHIF’s mission is to support research, care, teaching, prevention, rehabilitation, and evaluation of new technologies at MHI. The Foundation states that heart disease is the leading cause of death in the world and the leading cause of death in women in Canada. MHIF divides its grants into five categories: research, Investing in Excellence, technological innovation, prevention, and education.

In F2021, MHIF allocated 61% of total grants to research. The Research Centre of the Montreal Heart Institute operates in more than 35 countries and has 564 employees and 92 researchers. The Foundation states that the Research Centre publishes 360 scientific papers each year.

MHIF allocated 15% of total grants to its Investing in Excellence plan in F2021. The Foundation plans to add a medical intensive care unit, a surgical intensive care unit, and a new emergency department to the hospital. In F2021, MHIF funded an extension of the MHI’s Pharmacogenomics Centre.

Investment in technological innovations made up 14% of total grants in F2021. In F2021, MHIF funded a new DNA sequencer to improve precision in genetic analysis.

In F2021, MHIF allocated 7% of total grants to improving prevention and care at MHI. According to the Foundation, MHI has the largest cardiovascular prevention centre in Canada. This centre, called EPIC Centre, prevents cardiovascular disease by promoting a healthy lifestyle.

MHIF allocated the remaining 3% of total grants to education. According to the Foundation, MHI is the largest cardiology teaching centre in Canada.

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Results and Impact

From 2018 to 2020, 223 patients at MHI’s Diabetes Prevention Clinic participated in a program to study the effects of a healthy lifestyle on people with type 2 diabetes. The study confirmed that regular exercise has a positive effect on blood sugar levels and insulin sensitivity. Of the 223 participants, 66% lost weight, 60% reduced their waist size, 58% improved their glycated hemoglobin, 55% brought their fasting sugar levels and their glycated hemoglobin within normal range, 52% improved their fasting sugar levels, 48% lowered their circulating insulin levels, and 24% increased their “good cholesterol”.

While Ci highlights these key results, they may not be a complete representation of Montreal Heart Institute Foundation’s results and impact. This charity is not yet rated on impact (n/r).

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Finances

Montreal Heart Institute Foundation is a Major 100 charity, with $24.0m in donations and special events revenue in F2021. This is a 27% increase from F2020, in which the charity received $18.8m in donations and special events revenue. Administrative costs are 12% of revenues and fundraising costs are 6% of donations. This results in total overhead spending of 18%. For every dollar donated, 82 cents go to the causes, which is within Ci’s reasonable range for overhead spending. 

MHIF has $138.6m in funding reserves, of which $8.0m is externally endowed. Excluding donor-endowed funds, MHIF could grant at the same level for roughly 7 years and 3 months with reserves.

Charity Intelligence sent an update of this report to Montreal Heart Institute Foundation for review. Changes and edits may be forthcoming.

Updated on June 25, 2021 by Sydney Olexa.

Financial Review


Financial Ratios

Fiscal year ending March
202120202019
Administrative costs as % of revenues 12.3%12.7%12.9%
Fundraising costs as % of donations 5.8%7.8%7.6%
Total overhead spending 18.2%20.5%20.5%
Program cost coverage (%) 724.0%427.8%611.0%

Summary Financial Statements

All figures in $000s
202120202019
Donations 22,93916,59415,272
Special events 1,0232,2312,283
Investment income 24,027(4,718)4,962
Total revenues 47,98914,10622,517
Grants 18,43225,26320,291
Administrative costs 2,9552,3942,262
Fundraising costs 1,3991,4731,340
Total spending 22,78729,13023,894
Cash flow from operations 25,202(15,024)(1,377)
Funding reserves 138,582114,053128,940

Salary Information

Full-time staff: 23

Avg. compensation: $85,271

Top 10 staff salary range:

$350k +
0
$300k - $350k
0
$250k - $300k
1
$200k - $250k
0
$160k - $200k
0
$120k - $160k
1
$80k - $120k
5
$40k - $80k
3
< $40k
0

Information from most recent CRA Charities Directorate filings for F2020

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Comments & Contact

Comments added by the Charity:

No comments have been added by the charity.

Charity Contact

Website: www.icm-mhi.org
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 514 376-3330

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Charitable Registration Number: 80340 7956 RR0001