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Queen Elizabeth Hospital Foundation

60 Riverside Drive
Charlottetown, PE C1A 8T5
CEO: Tracey Comeau
Board Chair: Bob Sear

Charitable Reg. #: 89217 7965 RR0001
Sector: Health - Hospital Foundation
Public Foundation

Results Reporting

Grade: C

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

Financial Transparency

Audited financial statements for current and previous years available on the charity's website [Audited financial statement for most recent year]

Need for Funding

Funding Reserves Program Costs

Spending Breakdown

Cents to the Cause

2014 2015 2016
For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #5

Avg. Compensation $74,119

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 0
$120k - $160k 1
$80k - $120k 0
$40k - $80k 4
< $40k 0
Information from most recent CRA Charities Directorate filings for F2016

About Queen Elizabeth Hospital Foundation:

The Queen Elizabeth Hospital Foundation (QEHF) supports and raises funds for medical equipment at the Queen Elizabeth Hospital, the largest healthcare provider in Prince Edward Island. The hospital provides more than 80% of all specialized healthcare services received by Islanders.

As of F2017, Queen Elizabeth Hospital Foundation is operating an annual Friends for Life campaign, which focuses on raising funds to purchase priority medical equipment for the year. In F2017, the medical equipment needs at Queen Elizabeth Hospital were valued at $3.75 million, with its biggest needs being in equipment for: Diagnostic Imaging, Operating Room, Provincial Laboratory, Nursing Units, Ambulatory Care, and Urology.

In F2016, QEHF’s Friends for Life campaign supported the purchase of several pieces of life-saving medical equipment, with the biggest of which being a $950,000 nuclear SPECT/CT camera for the Queen Elizabeth Hospital Diagnostic Imaging Department. This camera is used in the diagnoses of cancer and cardiac conditions, and the foundation states that it will positively impact the lives of many Islanders well into the future.

Financial Review:

Queen Elizabeth Hospital Foundation is a medium-sized charity with donations and special events revenues of $4.8m in F2016. Its administrative costs are 5% of revenues, and its fundraising costs are 7% of donations. For every dollar donated, 88 cents go towards QEHF’s programming, falling within Ci’s reasonable range. The charity has funding reserves of $25.4m, of which $4.9m is donor-endowed, resulting in a program cost coverage ratio, excluding donor-endowed funds, of 1175%. This means that Queen Elizabeth Hospital Foundation can cover just under 12 years of its annual program costs using its existing reserves.

This charity report is an update that is being reviewed by Queen Elizabeth Hospital Foundation. Changes and edits may be forthcoming.

Updated August 11, 2017 by Kevin Silberberg.

Financial Ratios

Fiscal year ending June
Administrative costs as % of revenues 5.1%4.8%5.5%
Fundraising costs as % of donations 7.2%7.3%15.9%
Program cost coverage (%) 1,276.2%916.3%0.0%

Summary Financial Statements

All figures in $000s
Donations 3,6433,7622,534
Special events 1,128865814
Investment income 6061,1582,076
Total revenues 5,3775,7855,424
Program costs 102840
Grants 1,8892,3843,341
Administrative costs 243220183
Fundraising costs 343340530
Cash flow from operations 2,7992,7571,370
Funding reserves 25,41022,6200

Comments added by the Charity:

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