Health Sciences Centre 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.
84%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 84 cents are available for programs.
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OVERVIEW
About Health Sciences Centre Foundation:
Founded in 1976, Health Sciences Centre Foundation (HSCF) raises money for equipment purchases, capital expansion, research, and healthcare worker training at Health Sciences Centre Hospital. Health Sciences Centre Hospital is a specialized hospital for trauma, neurosurgery, burn, transplant, and psychiatric health. It is located in Winnipeg and treats more than 850,000 patients from Manitoba, Northwestern Ontario, and Nunavut annually.
In F2021, HSCF granted the Health Sciences Centre $6.5m, $1.7m of which went to the Centre's Transplant Wellness Centre, $315k to research, and $197k to the Centre for Surgical Innovation. The remaining $2.2m was disclosed as "funding commitments". In F2020, Health Sciences Centre had 69,305 people visit its ER, and facilitated 25,588 inpatient admissions, 15,454 surgeries, and 5,552 births.
Capital Projects: HSCF's most recent Annual Report (F2020), highlights the 2020 opening of a new ambulatory care clinic for transplant patients and the Wilf Taillieu Thoracic Surgery Clinic and Endoscopy Unit, both of which are to improve patient care at the Health Sciences Centre.
Research: This program funds the medical research of promising Health Sciences Centre staff. In F2020, HSCF awarded $330k to 13 research projects on a variety of topics including epigenetics, rheumatoid arthritis and scoliosis.
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Results and Impact
In F2020, funds provided to the Health Sciences Centre by the Foundation saw the opening of the Wilf Taillieu Thoracic Surgery Clinic and Endoscopy Unit. This Unit is able to facilitate clinical assessment, diagnosis, staging, and treatment all in one location, and doubled the Centre's capacity for scoping procedures. HSCF reported that despite patient consults increasing from 1,575 (in 2017) to 1,909 (in 2019) when the Clinic opened, it was able to accommodate urgent cancer consults within one week and less urgent consults in under one month. The opening of the Clinic also enabled the Centre to start a pleuroscopy program. HSCF states that for every pleuroscopy procedure performed in the Clinic, there is a savings of at least 1–2 hours of operating room time and 2–3 days of hospitalization.
Charity Intelligence highlights these key results. They may not be a complete representation of Health Sciences Centre Foundation's results. Charity Intelligence has not assessed impact on HSCF. This shows as n/r, meaning not rated.
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Finances
Health Sciences Centre Foundation received donations of $6.5m in F2021. It also received $4.8m in lottery revenue net of expenses, representing 25% of revenues. Investment income of $7.3m represents 38% of HSCF's F2021 revenue. Administrative costs are 10% of revenues and fundraising costs are 6% of donations. For every dollar donated, 84 cents go to the cause, which is within Ci’s reasonable range for overhead spending.
Health Sciences Centre Foundation has $54.8m in funding reserves, of which $27.1m is donor-endowed. Excluding donor-endowed funds, HSCF could continue granting at the F2021 level for 5.4 years using reserves.
In F2021, HSCF's investments totalled $44.4m. Of these invested funds, $25.3m is in equities, $11.0m in short-term investments, $6.9m in fixed income securities and $1.2m is in global real estate. Average return on investment during the past year was 17%, and average return on investment over the past three years was 6%.
This charity report is an update that has been sent to Health Sciences Centre Foundation for review. Changes and edits may be forthcoming.
Updated on August 25, 2021 by Rachel Leteta.
Financial Review
Fiscal year ending March
|
2021 | 2020 | 2019 |
|---|---|---|---|
| Administrative costs as % of revenues | 9.5% | 9.8% | 5.9% |
| Fundraising costs as % of donations | 6.2% | 7.4% | 3.4% |
| Total overhead spending | 15.7% | 17.2% | 9.4% |
| Program cost coverage (%) | 535.0% | 213.6% | 1,377.0% |
Summary Financial StatementsAll figures in $000s |
2021 | 2020 | 2019 |
|---|---|---|---|
| Donations | 6,530 | 8,881 | 13,671 |
| Lotteries (net) | 4,793 | 2,761 | 2,325 |
| Business activities (net) | 381 | 278 | 298 |
| Investment income | 7,278 | (1,958) | 1,624 |
| Total revenues | 18,982 | 9,962 | 17,918 |
| Grants | 6,534 | 11,739 | 3,075 |
| Administrative costs | 1,112 | 1,171 | 969 |
| Fundraising costs | 405 | 657 | 470 |
| Total spending | 8,051 | 13,567 | 4,514 |
| Cash flow from operations | 10,931 | (3,604) | 13,404 |
| Capital spending | 219 | 700 | 93 |
| Funding reserves | 54,773 | 43,647 | 48,196 |
Note: Grants reported by Ci may be overstated by including the financial line item Major and planned gifts.
Salary Information
$350k + |
0 |
$300k - $350k |
1 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
2 |
$120k - $160k |
0 |
$80k - $120k |
4 |
$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:
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: (204) 515-5612