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.
56%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 56 cents are available for programs.
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Programs
About QEII Health Sciences Centre Foundation:
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 in Halifax, Nova Scotia. In F2018, QEII Health Sciences Centre had 1.1 million patient visits. The health centre specializes in heart health, cancer care, neurosurgery, and organ transplants.
In F2018, QEII Foundation granted $5.4 million to Nova Scotia Health Authority which operates hospitals including QEII Health Sciences Centre. The largest grant was $2.0 million, representing part of the $4.5 million that QEII Foundation has committed to use in purchasing new equipment for a QEII cardiac lab. It is estimated that over its 16-year lifespan, the lab will diagnose and treat up to 25,000 patients with heart problems. One of the largest grants from F2017 funded improvement of the therapeutic pool in QEII’s Rehabilitation and Arthritis Centre. QEII Foundation reports that more than 20,000 patients have used the pool for aquatic therapy to improve mobility, strengthen muscles, and manage chronic pain.
In F2018, more than $1.9 million was used to fund medical research to improve patient health, decrease wait times, and increase access to healthcare. The research funded includes a study of atrial fibrillation, a dangerous, irregular heart rate. A clinical trial run by Dr. Jafna Cox aims to reduce unplanned visits to hospital due to atrial fibrillation.
While most of the money granted in F2018 was allocated to Nova Scotia Health Authority, funds were also received by Dalhousie University, IWK Children's Hospital Foundation in Halifax, Leukemia & Lymphoma Society of Canada, Canadian Cancer Society, and Hospice Society of Greater Halifax as reported in QEII Foundation’s T3010 filing with the CRA.
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Results and Impact
QEII Foundation funded the purchase of a StealthStation machine which creates a 3D representation of a patient’s brain using CT and other imaging methods. Having the model helps doctors avoid vulnerable brain tissue and can identify parts of the brain causing seizures in epileptic patients. StealthStation increased efficiency in the OR, allowing for brain surgery on two epileptic patients per day instead of one, previously.
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Finances
QEII Health Sciences Centre Foundation is a large Canadian charity, with donations and special events revenue of $9.5m in F2018. Lotteries revenue is presented net of expenses, representing $5.9m or 34% of total revenues. Administrative costs are 21% of revenues less investment income, and fundraising costs are 23% of donations. For every dollar donated, 56 cents go to the cause. This is outside of Ci’s reasonable range for overhead spending.
QEII Foundation has $64.3m in funding reserves which could cover granting at the F2018 level for 6.6 years. While the QEII Foundation does maintain an endowment fund, Ci has been unable to identify the respective allocations of donor-endowed and funds internally endowed by the board. As a result, all endowed funds have been included in calculating the program cost coverage ratio.
This report is an update that has been sent to QEII Health Sciences Centre Foundation for review. Changes and edits may be forthcoming.
Updated on May 24, 2019 by Madison Kerr.
Financial Review
Fiscal year ending March
|
2018 | 2017 | 2016 |
|---|---|---|---|
| Administrative costs as % of revenues | 21.1% | 15.9% | 18.9% |
| Fundraising costs as % of donations | 22.7% | 21.1% | 32.7% |
| Program cost coverage (%) | 656.2% | 547.7% | 570.1% |
Summary Financial StatementsAll figures in $000s |
2018 | 2017 | 2016 |
|---|---|---|---|
| Donations | 8,140 | 9,089 | 5,712 |
| Goods in kind | 57 | 228 | 197 |
| Lotteries (net) | 5,923 | 6,439 | 6,578 |
| Special events | 1,307 | 1,216 | 1,360 |
| Investment income | 2,090 | 3,681 | (118) |
| Other income | 0 | 0 | 40 |
| Total revenues | 17,517 | 20,654 | 13,769 |
| Grants | 9,797 | 11,224 | 9,941 |
| Administrative costs | 3,251 | 2,692 | 2,628 |
| Fundraising costs | 2,145 | 2,174 | 2,313 |
| Total spending | 15,192 | 16,090 | 14,883 |
| Cash flow from operations | 2,325 | 4,564 | (1,114) |
| Capital spending | 36 | 375 | 0 |
| Funding reserves | 64,290 | 61,471 | 56,673 |
Note: Ci has included investment income, affecting revenues by $2.1m in F2018, $3.7m in F2017, and ($118k) in F2016. Grants have been adjusted by the change in grants payable to reflect grants paid during the year, affecting expenses by $1.2m in F2018, ($1.4m) in F2017, and ($12k) in F2016.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
1 |
$200k - $250k |
0 |
$160k - $200k |
1 |
$120k - $160k |
1 |
$80k - $120k |
7 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2018
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Comments & Contact
Comments added by the Charity:
Charity Contact
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