Stollery Children's Hospital 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.
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.
60%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 60 cents are available for programs.
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OVERVIEW
About Stollery Children's Hospital Foundation:
Stollery Children's Hospital Foundation is a 2-star charity with below average results reporting and overhead spending outside of Ci's reasonable range. It is financially transparent and with current reserves it can cover four years and three months of annual grants.
Founded officially in 2001, Stollery Children’s Hospital Foundation (SCHF) strives to improve healthcare for children across Alberta. It traces its history back to 1978, when Northern Alberta Children’s Hospital Foundation began to advocate for a new children’s hospital in Edmonton. The new Stollery Children’s Hospital opened in October 2001, funded largely by a donation from Bob and Shirley Stollery. In honour of their donation, the charity changed its name to Stollery Children’s Hospital Foundation. SCHF raises funds to support the hospital, which now receives more than 300,000 visits each year. It also raises funds for child health programs and research at other hospitals and institutions such as the University of Alberta.
In F2023, Stollery Children’s Hospital Foundation granted $18.8m for Equipment and Facilities, Research, Programs, and Training, as well as $1.3m for Advocacy. While the charity's F2023 financial statements were released at the time of this profile update, the charity had not yet released its F2023 annual report, thus the program information below comes from the F2022 annual report.
Programs received 42% of program spending and grants in F2022. SCHF helps to fund programs for patients and families visiting Stollery Children’s Hospital. SCHF supported the Child Life department at Stollery Children's Hospital. The department helps children to adjust to hospitalization through programs like music therapy, pet therapy, and art therapy. SCHF reports that the hospital receives nearly 55,000 emergency room visits and more than 12,000 surgeries every year.
Research received 30% of program spending and grants in F2022. The charity funds pediatric research projects at the University of Alberta (U of A) and the Women and Children’s Health Research Institute.
provincial Equipment and Facilities was 18% of program spending and grants in F2022. SCHF raises funds to buy new equipment and renovate facilities at Stollery Children’s Hospital as well as Royal Alexandra Hospital and Sturgeon Community Hospital. In April 2021 the renovated David Schaff neonatal intensive care unit (NICU) opened at Stollery Children’s Hospital. It now has 18 beds. SCHF partnered with Grande Prairie Regional Hospital Foundation to raise $1.5 million over two years for a new hospital. The Grande Prairie Regional Hospital opened in December 2021.
Training received the remaining 8% of program spending and grants in F2022. Stollery Children’s Hospital Foundation helps to train future pediatric specialists.
The remaining 2% of program spending and grants was for Advocacy. The advocacy program aims to bring the voice of patients and families to the government and health-care institutions. SCHF is currently advocating to the Alberta provincial government for a new children's hospital.
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Results and Impact
SCHF helped fund the purchase of Criticool Mini-body Cooling Equipment to reduce the body temperature of critically ill patients during transport. In 2021, SCHF reports that the Stollery NICU transport team safely transported 30 infants using this equipment.
While Ci highlights these key results, they may not be a complete representation of Stollery Children’s Hospital Foundation’s results and impact. This charity is not yet rated on impact (n/r).
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Finances
Stollery Children’s Hospital Foundation received donations of $24.9m in F2023, increasing 55% since F2021. It also received $3.9m in lottery revenue net of expenses, which is 13% of total revenues. Administrative costs are 7% of revenues (less investment income) and fundraising costs are 33% of donations. This results in total overhead spending of 40%. For every dollar donated to the charity, 60 cents go to the cause. This is not within Ci’s reasonable range for overhead spending. The overhead spending increased from 28% in F2022 primarily due to an increase in fundraising costs.
SCHF had $85.6m in reserve funds in F2023. Reserve funds are the charity’s cash and investments. Reserve funds increased by 21% since F2021. The charity can cover around 4.3 years of annual grant costs with its existing reserves. Its funding reserves contributed $817k in investment income in F2023, at an estimated rate of return of 1% (compared to an investment income of $5.7m at a return of 9% in F2022). Over the last ten years, Ci estimates that SCHF’s investment returns have averaged 5%.
In F2023, Stollery Children’s Hospital Foundation distributed a total of $18.8m in grants. Of these, $8.5m went to Alberta Health Services, as well as an additional $707k in unpaid amounts from prior years. The remaining grants and grant advances went to research and child health programs run by unrelated parties, such as University of Alberta ($7.9m), Mental Health Foundation ($1.0m), and Grand Prairie Regional Hospital Foundation ($489k). SCHF has approved future grant commitments of $44.8m, including $32.6m for Stollery Children’s Hospital, Alberta Health Services and the University of Alberta. It also committed $8.9m to Women and Children’s Health Research Institute to be distributed in 2024 and 2025.
According to its annual filings with the CRA, SCHF uses external fundraisers. It paid external fundraisers $769k to raise $17.8m in F2023, at a cost of $0.04 per dollar raised.
Charity Intelligence has sent this update to Stollery Children’s Hospital Foundation for review. Changes and edits may be forthcoming.
Updated on August 2, 2023 by Alessandra Castino.
Financial Review
Fiscal year ending March
|
2023 | 2022 | 2021 |
---|---|---|---|
Administrative costs as % of revenues | 7.1% | 5.7% | 8.9% |
Fundraising costs as % of donations | 33.1% | 22.7% | 29.6% |
Total overhead spending | 40.3% | 28.4% | 38.4% |
Program cost coverage (%) | 426.3% | 708.3% | 504.1% |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
---|---|---|---|
Donations | 24,877 | 27,702 | 16,045 |
Government funding | 0 | 57 | 694 |
Lotteries (net) | 3,860 | 4,529 | 3,130 |
Business activities (net) | 33 | 31 | (19) |
Investment income | 817 | 5,653 | 8,670 |
Total revenues | 29,588 | 37,973 | 28,520 |
Program costs | 1,266 | 406 | 326 |
Grants | 18,815 | 11,965 | 13,719 |
Administrative costs | 2,053 | 1,838 | 1,761 |
Fundraising costs | 8,246 | 6,300 | 4,743 |
Total spending | 30,380 | 20,509 | 20,549 |
Cash flow from operations | (792) | 17,464 | 7,971 |
Capital spending | 201 | 203 | 132 |
Funding reserves | 85,610 | 87,624 | 70,798 |
Note: Ci reported lottery revenues net of expenses, affecting revenues and expenses by ($14.0m) in F2023, ($10.1m) in F2022, and($7.4m) in F2021. Ci reported merchandising revenues net of expenses in business activities, affecting revenues and expenses by ($499k) in F2023, ($415k) in F2022, and ($333k) in F2021. To report on a cash basis, Ci adjusted grants by changes in both grant advances to qualified donees and accounts payable to Alberta Health Services. This affected expenses by $933k in F2023, ($3.4m) in F2022, and $1.4m in F2021. Ci excluded amortization included in administrative costs.
Salary Information
$350k + |
0 |
$300k - $350k |
1 |
$250k - $300k |
0 |
$200k - $250k |
2 |
$160k - $200k |
2 |
$120k - $160k |
3 |
$80k - $120k |
2 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2023
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Comments & Contact
Comments added by the Charity:
Charity Contact
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