St. Michael’s Hospital Foundation is a 2-star charity that is financially transparent. It has a results reporting grade of C which is below average. For every dollar that is donated, 75 cents are available to go toward the cause. It has reserve funds to cover 13 years of annual grants. 

Founded in 1992, St. Michael’s Hospital Foundation (SMHF) raises funds for equipment, patient care, and research at St. Michael’s Hospital. St. Michael’s Hospital is a Catholic teaching and research hospital in downtown Toronto. In F2023, St. Michael’s Hospital Foundation granted $20.7m for research projects and capital assets. This is a 49% decrease from the amount SMHF granted in F2022.

Research and other projects were 71% of grants. SMHF does research on a variety of health issues such as HIV, mental health, cancer, heart disease, etc. It also has a big focus on innovation through AI to make the healthcare system more efficient. In F2023, St. Michael’s became the world’s first and only hospital to peer inside a brain blood vessel. In F2023, Dr. Sean B. Rourke from SMHF led a new program called Healthbox. Healthbox is a smart, interactive machine that provides low barrier access to self-testing kits for HIV and COVID-19, plus essential harm reduction and sexual health supplies. Healthbox’s short-term goals are to have over 10,000 participants registered for Our Healthbox, distribute over 20,000 HIV self-test kids, and partner with over 175 community organizations. According to St. Michael’s Hospital Foundation, 40% of people with severe respiratory distress end up dying while on life support. SMHF is currently researching and developing AI and machine-learning algorithms that will be able to reveal a patient’s second-by-second response to ventilation to personalize the mechanical ventilation and ease the patient’s pain.

Capital assets represented 29% of grants in F2023. Capital assets includes patient care, and buildings and equipment. SMHF’s current campaigns for capital assets go towards improving the buildings and patient rooms to lead to better patient care and help free up ICU beds. Some of its buildings include the Center of Excellence in Rehab and Healthy Aging, the BARLO MS Centre for holistic care, and the Schroeder BRAIN&HEART Centre.

St. Michael’s Hospital Foundation received $49.6m in donations and special events revenue in F2023. This is a 22% decrease compared to $63.3m in F2022. Administrative and fundraising costs are 25% of total revenues. For every dollar donated to the charity, 75 cents are available to go to the cause. This is within Ci’s reasonable range. In 2023, the program costs of $20.7m represented 40% of total revenue. SMHF has $270m in reserve funds. Total reserve funds can cover annual grant costs for 13 years.

St. Michael’s Hospital Foundation discloses related party transactions. In F2023, it granted $20.7m to St. Michael’s Hospital for programs, including $0.5m in funds transferred for grants of prior years. In F2023, SMHF decreased spending on capital projects by 72% and spending on research by 30% compared to F2022.

According to its most recent CRA filing in F2023, SMHF does not use external fundraisers. This is its first year since 2017 that SMHF has not used external fundraisers.   

Profile updated on June 7, 2023 by Abby Stout.