QEII Health Sciences Centre Foundation

About QEII Health Sciences Centre Foundation:

The Queen Elizabeth II Health Sciences Centre Foundation (QEII Foundation) raises funds for the QEII Health Sciences Centre (QEII) in Halifax, Nova Scotia. The Foundation helps fund new technologies, research, innovation and education at the Centre with the goal of improving the lives of Atlantic Canadians.

As the largest adult health sciences centre in Atlantic Canada, the QEII serves as the local community hospital for immediate care and emergency services, as well as the specialized care centre for Atlantic Canada in areas such as heart health, cancer care, neurosurgery and organ transplantation. The QEII is also a leading medical research and teaching centre.

While the Queen Elizabeth II Health Sciences Centre Foundation funds many areas of health care, the current focus areas include: anesthesia, ultrasounds, heart health, simulation-based learning, and research. 

In F2016, The Queen Elizabeth II Health Sciences Centre Foundation made many purchases for the centre including an apheresis machine and 2 more beds for the epilepsy unit.

The Foundation operates 3 lotteries, the Home Lottery, the Lifestyles Lottery, and the Working to Win, with total revenues of $18.1m in F2016, and 36% going to the charity after expenses.

Financial Review:

Queen Elizabeth II Health Sciences Centre Foundation is a big-cap charity with donations and special events revenues of $7.1m in F2016. Its administrative costs were 19% of revenues, and its fundraising costs were 33% of donations. For every dollar donated, 48 cents go towards QEII Foundation’s programs, falling outside of Ci’s reasonable range. QEII Foundation has funding reserves of $59.2m, resulting in a program cost coverage ratio of 595%, meaning that the charity can cover just under 6 years of its annual program costs using its existing reserves.

While the QEII Foundation does maintain an endowment fund, it does not disclose the respective allocations of donor-endowed and funds internally endowed by the board. As a result, Ci included all endowed funds when calculating the program cost coverage ratio.