Baycrest Centre Foundation

About Baycrest Centre Foundation:

Since 1979, Baycrest Centre Foundation has been the fundraising arm for Baycrest Health Sciences. Baycrest Sciences opened its doors in 1918 as the Toronto Jewish Old Folks Home, a semi-detached house on Cecil Street. Now located on a 22-acre campus on Bathurst Street, Baycrest is an internationally-recognized academic health sciences centre that focuses on innovations in aging and brain health caring for 1,200 clients every day. The organization is fully affiliated with the University of Toronto.

The foundation funds the centre across three major programs; research, education, and care. The foundation’s grants to the centre represent 8% of the centre’s sources of revenue. Baycrest Centre Foundation publishes a quarterly newsletter called “Brain Matters” which details the latest research and care for cognitive well-being and healthy living. Major fundraising events of the foundation include the Baycrest Foundation Breakfast, the Red Carpet Baycrest Stage and Screen Series, and the Barrie 2 Baycrest bike race.

Limited information is available on the outputs and outcomes of the foundation as it shares a website with the centre. It is difficult, and sometimes impossible to identify where the grants from the foundation are allocated within the centre as some information is contradictory. While the audited financials of the foundation note grants of $13.5m to the centre, the annual report of the centre reports grants of $12.4m. The information outlined in the Baycrest Centre Foundation page of the website reports grants of $20.8m in F2014, but has no update for F2015 or F2016.

Financial Review:

Baycrest Centre Foundation is a Major 100 charity, with donations of $17.7m in F2016. Special events brought in an additional $2.7m of revenue. Administrative costs were 22% of revenues and fundraising costs were 11% of donations. As such, for every $1 donated, 68 cents go to the cause. This falls within Charity Intelligence’s reasonable range of overhead spending. 

Funding reserves were $124.3m in F2016, which include $102.5m of donor-endowed funds. Baycrest Centre Foundation can cover annual program costs 9.2 times (2.6 times excluding donor-endowed funds). 

This charity report is an update that is currently under review by Baycrest Centre Foundation. Changes and edits may be forthcoming.

Updated June 1, 2017 by Juliana Badovinac