525 University Ave, Suite 835
Toronto, ON M5G 2L3
CEO: Ted Garrard
Board Chair: Kathleen Taylor

Charitable Reg. #:10808 4419 RR0001

STAR RATING

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

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✔+

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.

69%

CENTS TO THE CAUSE

For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 69 cents are available for programs.



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Programs

About SickKids Foundation:

 

Founded in 1972, SickKids Foundation is the fundraising charity for the Hospital for Sick Children (SickKids) in Toronto. The hospital reports that it is Canada’s most research-intensive hospital and Canada’s largest centre focused on children’s health. In F2019, the Hospital received 317,178 ambulatory visits, admitted 16,265 patients, and performed 12,167 surgeries.

In F2019, the foundation raised and earned $169.4m and granted $123.4m (73% of total revenues and investment income). Of total grants, 71% was allocated to research, 14% to patient care, 6% to education, and 9% to other programs across Canada and internationally. 

The SickKids Research Institute had 1,642 research staff and 2,960 research trainees who worked on research projects in F2019. In F2018, the foundation awarded six research grants to researchers across Canada studying childhood disease and conditions and provided six $5k grants toward conferences that are organized by and/or for families with sick children.

Recent News: In October 2017, SickKids Foundation launched a $1.3b campaign to spend $600m toward a new hospital (to build two new towers in downtown Toronto), $600m toward research, and $100m toward establishing healthcare partnerships to improve patient care. In June 2019, SickKids Foundation received a donation of $100 million from the Peter Gilgan Foundation. As of June 2019, SickKids has raised $914m, 70% of its goal.

May 2019, Hospital for Sick Children announces Dr. Ronald Cohn as new President and CEO. Dr. Cohn has been with SickKids Hospital since 2012, most recently as Paediatrician-in-Chief. Dr. Cohn is recognized for excellence in clinical care and genetics research. Dr. Cohn replaces Dr. Mike Apkon (2014-2018) who lead SickKids' safety and operational improvements to reduce preventable deaths, among other initiatives. 

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Results and Impact

A 2017 survey, done by guardians on their satisfaction around the level of communication on patient safety, graded SickKids at 64.50, exceeding the hospital’s target of 62.00.

In terms of research, the foundation reports that one of SickKids’ labs using CRISPR – a gene-editing technology – was the first to remove a duplicated gene in a lab setting, effectively correcting the disease caused by the duplicated gene.

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Finances

SickKids Foundation is a Major 100 charity, with $158.6m in donations and special events revenues in F2019. Administrative costs were 4% of revenues (ecluding investment income) and fundraising costs were 27% of donations. For every dollar donated, 69 cents go to the cause, which is within Ci’s reasonable range for overhead spending.

In F2017, SickKids Foundation used external fundraisers as part of its fundraising activities. The foundation paid $6.4m to external fundraisers that collected $17.3m in donations. As such, fundraising costs for external fundraisers were 37%. F2018 information was not available at the time the profile was updated.

SickKids Foundation has funding reserves of $1.2 billion dollars, of which $621.5m are donor endowed. Excluding donor-endowed funds, the foundation can cover just over 6 years of annual grants (excluding donor-endowed funds). For additional information, please read SickKids Foundation's comment below.

The foundation reports grant commitments of $69.9m for F2019, $25.1m for F2020, and $25.1m for F2021.

This charity report is an update that has been sent to SickKids Foundation. Changes and edits may be forthcoming.

Updated on August 21, 2019 by Parker Thomlinson.

Financial Review


Financial Ratios

Fiscal year ending March
201920182017
Administrative costs as % of revenues 4.4%4.6%4.8%
Fundraising costs as % of donations 26.8%27.6%26.6%
Total overhead spending 31.2%32.1%31.4%
Program cost coverage (%) 960.8%849.8%1,113.2%

Summary Financial Statements

All figures in $000s
201920182017
Donations 136,595125,620118,361
Lotteries (net) 2,11402,092
Business activities (net) 1,2401,3691,502
Special events 21,96120,82618,384
Investment income 7,26860,154113,592
Other income 199144735
Total revenues 169,377208,113254,666
Grants 123,447141,432105,032
Administrative costs 7,1056,7916,794
Fundraising costs 42,47340,35036,330
Total spending 173,025188,573148,156
Cash flow from operations (3,648)19,540106,510
Capital spending 8521,9571,839
Funding reserves 1,186,1221,201,8871,169,220

Note: SickKids Foundation reports fundraising net of costs. Ci reallocated these costs into fundraising expenses. This increased revenues and expenses by $43.6m in F2019, $41.5m in F2018, and $37.6m in F2017. Ci removed amortization from administrative and fundraising costs on a prorated basis.

Salary Information

Full-time staff: 181

Avg. Compensation $109,040

Top 10 staff salary range

$350k +
2
$300k - $350k
2
$250k - $300k
5
$200k - $250k
1
$160k - $200k
0
$120k - $160k
0
$80k - $120k
0
$40k - $80k
0
< $40k
0

Information from most recent CRA Charities Directorate filings for F2017

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Comments & Contact

Comments added by the Charity:

Charity Contact

Website: www.sickkidsfoundation.com
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 1-800-661-1083

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