QEII 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.
60%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 60 cents are available for programs.
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OVERVIEW
About QEII Health Sciences Centre Foundation:
QEII Health Sciences Centre Foundation is a 1-star charity. It has a C Results Reporting grade, which is below average. The charity's reserve funds can cover its annual grant costs for over seven years. For every dollar donate to the charity, 60 cents are available to go to the cause, which is outside Ci's reasonable range. Read Ci's report before donating.
Founded in 1997, QEII Health Sciences Centre Foundation (QEII Foundation) raises money to fund equipment purchases, research, and improve patient care at QEII Health Sciences Centre (QEII). QEII is the largest adult health sciences centre in Atlantic Canada, with two sites in Halifax, Nova Scotia. The health centre specializes in heart health, cancer care, neurosurgery, and organ transplants. QEII reports it has the most surgical robots of any hospital in Canada. In F2023, the Foundation granted $13.5m to QEII. The charity does not provide a detailed breakdown of its grants. QEII Foundation’s grants fund equipment, patient care, research, and education.
Equipment: In January 2022, QEII Foundation launched a $100.0m campaign called “We Are”. QEII’s goal is to reduce wait times, increase access to care, and introduce new technology. So far, QEII Foundation has funded 21 initiatives (equipment, technology, funding for positions). QEII Foundation spent $8.5m to fund Personalized Radiotherapy, a new way to treat cancer with radiation. The charity also spent $8.1m on a da Vinci X surgical robot to help with prostate, kidney, and gynecological surgeries. QEII Foundation spent $4.0m on a new operating room, with a cardiac catheterization lab and an imaging suite.
Patient Care: In F2024 QEII received 1,069,441 visits. 1,050,594 patients were from Nova Scotia, 15,790 were from Atlantic Canada (New Brunswick, PEI, and Newfoundland and Labrador), and 3,044 visits were from outside Atlantic Canada.
Education: The Foundation’s Education program provides educational bursaries to healthcare professionals at Dalhousie University. In F2024, QEII Foundation spent $882k on 529 current and emerging healthcare workers.
While most of the money granted in F2023 was allocated to Nova Scotia Health Authority ($11.4m), funds were also received by Dalhousie University ($1.1m), Leukemia & Lymphoma Society of Canada (150k), and Hospice Halifax ($300), as reported in QEII Foundation’s T3010 filing with the CRA.
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Results and Impact
Charity Intelligence found QEII Health Sciences Centre Foundation reported many stories but little data / few results on its work. This may not be a complete representation of QEII Foundation’s results and impact.
This charity is not yet rated on impact (n/r).
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Finances
QEII Health Sciences Centre Foundation received $11.9m in donations and special events revenue in F2023. QEII Foundation spent $13.5m on its grants, which is 64% of revenue. The charity recorded a surplus of $2.0m, which is 10% of revenue.
Administrative costs are 11% of revenue (excluding investment income). Fundraising costs are 30% of donations. For every dollar donated to the charity, 60 cents are available to go to the cause, which is outside Ci’s reasonable range.
QEII Foundation has $99.5m in reserve funds, which can cover 737%, or seven years and four months of its annual grant costs.
QEII Foundation’s $65.9m in investments returned $499k, for a return of 1%. Over the past 11 years, the charity’s investments returned an average of 4%.
Charity Intelligence sent an update of this report to QEII Health Sciences Centre Foundation for review. Changes and edits may be forthcoming.
Updated on June 28, 2024 by Liam Chapleau
Financial Review
Fiscal year ending March
|
2023 | 2022 | 2021 |
|---|---|---|---|
| Administrative costs as % of revenues | 10.5% | 9.0% | 9.2% |
| Fundraising costs as % of donations | 29.9% | 32.8% | 25.6% |
| Total overhead spending | 40.4% | 41.7% | 34.8% |
| Program cost coverage (%) | 736.9% | 815.0% | 1,062.4% |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
|---|---|---|---|
| Donations | 9,479 | 8,379 | 11,866 |
| Goods in kind | 74 | 187 | 105 |
| Government funding | 0 | 408 | 1,286 |
| Lotteries (net) | 8,820 | 10,444 | 7,427 |
| Special events | 2,391 | 2,577 | 1,537 |
| Investment income | 499 | 657 | 7,995 |
| Total revenues | 21,264 | 22,652 | 30,215 |
| Grants | 13,506 | 11,735 | 9,053 |
| Administrative costs | 2,183 | 1,969 | 2,036 |
| Fundraising costs | 3,544 | 3,591 | 3,435 |
| Total spending | 19,233 | 17,295 | 14,524 |
| Cash flow from operations | 2,031 | 5,357 | 15,692 |
| Capital spending | 107 | 0 | 0 |
| Funding reserves | 99,530 | 95,641 | 96,182 |
Note: 1: USE OF T3010: Ci used the charity’s T3010 to report administrative and fundraising costs. This did not affect total expenses. Ci removed amortization from administrative and fundraising costs on a pro-rata basis.
Salary Information
$350k + |
0 |
$300k - $350k |
1 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
2 |
$120k - $160k |
1 |
$80k - $120k |
6 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2023
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Comments & Contact
Comments added by the Charity:
Charity Contact
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