Saint John Regional 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.
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.
68%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 68 cents are available for programs.
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OVERVIEW
About Saint John Regional Hospital Foundation:
Saint John Regional Hospital Foundation is a one-star charity with a below-average results reporting grade and overhead spending in Ci's reasonable range. The charity is financially transparent and has high funding reserves.
Founded in 1980, Saint John Regional Hospital Foundation (SJRHF) is a charity that raises money for Saint John Regional Hospital and the wider Horizon Health Network. Horizon Health Network is the largest regional health authority in New Brunswick and the second largest health authority in Atlantic Canada. It operates 12 hospitals and over 100 medical facilities. The foundation’s main granting areas are Innovation, Patient Support, and Education and Training. It does not provide a spending breakdown of its programs on its website. In F2022, the charity granted $3.0m to Horizon Health Network.
The Innovation program involves the purchase of new equipment and technology to improve the quality of medical care at the foundation’s affiliated hospitals and health centres. In F2022, it purchased a 3d bronchoscopic navigation system to find tumors and a DNA-RNA extractor to aid in cancer treatment. The foundation also purchased an epic ultrasound system and four new myocardial protection pumps for New Brunswick Heart Centre.
The Patient Support program mainly funds items that improve the comfort of patients. In F2021, the charity purchased seven T688 patient treatment chairs with tray arms. It also purchased six 28-inch hospital grade televisions for patient rooms.
The Education and Training program provides training equipment for students and healthcare professionals. In F2022, it gave six point-of-care ultrasound units to Dalhousie Medicine New Brunswick so that students could practice scanning. It also purchased a childbirth simulator to help medical teams become efficient in responding to childbirth emergencies.
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Results and Impact
Ci did not find quantified outcomes on Saint John Regional Hospital Foundation’s website. This may not be a complete representation of its results and impact.
This charity is not yet rated on impact (n/r).
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Finances
In F2022, Saint John Regional Hospital Foundation received $5.0m in donations. It earned $2.4m in net lottery revenue (24% of total revenue) during the year. The charity received $6.5m in gross lottery revenue. For every dollar spent on lottery tickets, 37 cents go to the charity. SJRHF earned $2.3m in investment income in F2022 (24% of total revenue), representing a 9% annual return. Its average annual investment return since F2014 is around 6%. The average annual investment return of the S&P 500 from 2014 to 2021 is around 13%.
Administrative costs are 9% of total revenue excluding investment income. Fundraising costs are 23% of donations. This results in total overhead spending of 32%. For every dollar donated to the charity 68 cents go to the cause. This is within Ci’s reasonable range for overhead spending.
SJRHF has $35.7m in net funding reserves, including $13.2m in donor-endowed funds. Its net funding reserves, excluding donor-endowed funds, can cover F2022 grant spending for around nine years and eight months. Using average grant spending from the last five years, it can cover costs for around six years and five months.
This charity profile is an update that has been sent to Saint John Regional Hospital Foundation for review. Changes and edits may be forthcoming.
Updated on August 24th, 2022 by Arjun Kapur.
Financial Review
Fiscal year ending March
|
2022 | 2021 | 2020 |
---|---|---|---|
Administrative costs as % of revenues | 8.7% | 8.8% | 10.1% |
Fundraising costs as % of donations | 23.0% | 28.1% | 18.7% |
Total overhead spending | 31.6% | 36.9% | 28.7% |
Program cost coverage (%) | 966.0% | 490.9% | 457.1% |
Summary Financial StatementsAll figures in $000s |
2022 | 2021 | 2020 |
---|---|---|---|
Donations | 5,032 | 4,555 | 6,175 |
Government funding | 73 | 222 | 0 |
Lotteries (net) | 2,410 | 1,620 | 1,349 |
Investment income | 2,338 | 4,108 | (843) |
Total revenues | 9,852 | 10,505 | 6,681 |
Grants | 2,989 | 4,361 | 3,687 |
Administrative costs | 651 | 560 | 758 |
Fundraising costs | 1,156 | 1,281 | 1,153 |
Total spending | 4,795 | 6,202 | 5,598 |
Cash flow from operations | 5,057 | 4,303 | 1,084 |
Capital spending | 26 | 0 | 41 |
Funding reserves | 35,690 | 30,327 | 25,091 |
Note: Ci adjusts donations by changes in pledges receivable to report on a cash basis. This affects revenues by ($199k) in F2022, ($925k) in F2021, and ($438k) in F2020. Ci includes unrealized investment gain (loss) in investment income, affecting revenues by $1.3m in F2022, $3.4m in F2021, and ($1.7m) in F2020. Grant spending is adjusted by changes in amounts due to Horizon Health Network. This affects total expenses by $490k in F2021 and ($259k) in F2020.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
1 |
$120k - $160k |
1 |
$80k - $120k |
2 |
$40k - $80k |
6 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2021
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Comments & Contact
Comments added by the Charity:
This comment was added to a previous version of the profile and is not current.
At the end of March 31, 2019, the Foundation had $4,926,829 in outstanding commitments included in our funding reserves that we expect to be disbursed within the next 12 months. When projects are granted the funds are committed/reserved until the purchase/implementation are complete and then the funds are released to the appropriate vendor. The commitments include the following initiatives; Clinic 1 Expansion $3,855,399, Research Projects $796,355, Pediatric Equipment $210,217, Mental Health Programs $31,529 and two oncology room enhancements $31,529.
Included in the Foundation’s funding reserves is $2,303,681 of unrealized gains from our investments that is not available to us for disbursement as well as a $700,000 operating reserve retained to ensure positive cash flow for our organization.
Most of the $4.9M of designated funds in our funding reserves has been received from various donors for the purpose of supporting the Professional Development of our healthcare professionals from scientific exchange. While medical progress and the advancement of science depend on a number of factors, conferences organized by medical societies and related organizations are particularly crucial for encouraging scientific exchange. To contribute to the professional development of the healthcare professionals at the Saint John Regional Hospital, we create the opportunity for scientific exchange with this surplus by providing funding for conferences such as the annual symposium on current perspectives in Cardiovascular Disease , NB Hematology Day, NB Professional Diabetes Educators Conference and many more. These surplus funds are designated for scientific exchange and approximately $2M a year is disbursed for the educational needs of our clinicians.
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 506-648-6400