St. Michael's Hospital Foundation

30 Bond Street
Toronto, ON M5B 1W8
President: Lili Litwin
Board Chair: John Barford

Charitable Reg. #:12296 3663 RR0001


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

[Charity Rating: 2/5]



Audited financial statements for current and previous years available on the charity’s website.



Grade based on the charity's public reporting of the work it does and the results it achieves.



The demonstrated impact per dollar Ci calculates from available program information.


Charity's cash and investments (funding reserves) relative to how much it spends on programs in most recent year.



For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 75 cents are available for programs.

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About St. Michael's Hospital Foundation:

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.

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Results and Impact

St. Michael’s Hospital and the foundation are part of the health network Unity Health Toronto. In fiscal 2023 (year ended March), Research Infosource Inc ranked Unity Health 11th amongst Canada’s top 40 research hospitals. For spending per researcher, or research intensity, Unity Health went from 13th in 2021 to 2nd in 2022.

While Ci highlights these results, they may not be a complete representation of St. Michael’s Hospital Foundation’s results and impact. This charity is not yet rated on impact (n/r).

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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.

Financial Review

Financial Ratios

Fiscal year ending March
Fundraising & admin costs as % of revenues 24.8%22.5%17.2%
Total overhead spending 24.8%22.5%17.2%
Program cost coverage (%) 1,304.2%613.8%489.4%

Summary Financial Statements

All figures in $000s
Donations 47,26058,74259,563
Special events 2,2924,5601,118
Investment income 2,0523,52218,653
Total revenues 51,60466,82379,334
Grants 20,69940,89047,402
Fundraising & administrative costs 12,30214,21810,428
Total spending 33,00255,10857,830
Cash flow from operations 18,60211,71521,504
Capital spending 000
Funding reserves 269,956250,995231,964

Note: INVESTMENT INCOME: Ci reported investment income net of investment fees, affecting revenues and expenses by ($586k) in F2023, ($579k) in F2022, and ($516k) in F2021. DEFERRED REVENUE: To report on a cash basis, Ci adjusted grants by changes in amounts payable to St. Michael’s Hospital. This affected expenses by $541k in F2023, ($763k) in F2022, and ($219k) in F2021.

Salary Information

Full-time staff: 64

Avg. compensation: $141,079

Top 10 staff salary range:

$350k +
$300k - $350k
$250k - $300k
$200k - $250k
$160k - $200k
$120k - $160k
$80k - $120k
$40k - $80k
< $40k

Information from most recent CRA Charities Directorate filings for F2023

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Comments & Contact

Comments added by the Charity:

No comments have been added by the charity.

Charity Contact

This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 416-864-5000


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Charitable Registration Number: 80340 7956 RR0001