Baycrest 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.
55%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 55 cents are available for programs.
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OVERVIEW
About Baycrest Centre Foundation:
Founded in 1979, Baycrest Centre Foundation (also known as Baycrest Foundation) raises funds for Baycrest Health Sciences. Baycrest Health Sciences opened its doors in 1918 as the Toronto Jewish Old Folks Home. 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. Baycrest is funded by and affiliated with the University of Toronto.
Baycrest Centre Foundation provides grants in four main areas: care, research, innovation, and education.
Baycrest Foundation reports that it serves more than 1,500 clients daily. It offers various care programs for elderly patients and their families. These include support groups for family members of dementia patients, arts or recreational activities for clients, and mental health programs. Baycrest Foundation reports that its Cafe Europa program, a social and recreational space for Holocaust survivors, serves more than 200 regular clients.
Baycrest Foundation also funds new research into neurodegenerative diseases and develops innovative technology. It reports that it currently has more than 440 ongoing research studies, led by 28 full-time scientists and 89 trainees. Baycrest Foundation’s education program works to train students and future healthcare providers on brain health and elderly care. The foundation states that it trains more than 1,100 students each year.
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Results and Impact
Baycrest Centre Foundation funds the Centre for Aging and Brain Health Innovation (CABHI) to create new initiatives or technologies addressing the challenges of aging. It states that CABHI has now supported the development and validation of more than 145 innovations to improve brain health or quality of life for older adults. These include digital resources for rural and Indigenous communities, phone applications for dementia caregivers, and safer hospital bed models.
While Ci highlights these key results, they may not be a complete representation of Baycrest Centre Foundation’s results and impact.
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Finances
Baycrest Centre Foundation is a Major 100 charity, one of Canada’s largest charities, with $19.2m in donations and special events revenue in F2019. Donations and special events revenue fell by 31% from $27.8m in F2018. Administrative costs are 26% of revenues (less investment income) and fundraising costs are 19% of donations and special events. This results in total overhead spending of 45%. For every dollar donated to the charity, 55 cents go to the cause. This falls outside of Ci’s reasonable range for overhead spending.
Baycrest Foundation’s overhead spending fell within Ci's reasonable range in F2018 and F2017. However, its F2019 fundraising costs were over two times greater than in the year before, resulting in higher overhead ratios. Its administrative ratio also increased in F2019, mainly due to decreases in total revenues.
Baycrest Foundation has $164.2m in funding reserves, of which $122.2m is donor-endowed. Excluding donor endowed funds, Baycrest Foundation can cover nearly 4.3 years of annual program costs.
This charity report is an update that has been sent to Baycrest Centre Foundation for review. Changes and edits may be forthcoming.
Updated August 27, 2020 by Eric Zhao.
Financial Review
Fiscal year ending March
|
2019 | 2018 | 2017 |
|---|---|---|---|
| Administrative costs as % of revenues | 25.7% | 17.2% | 16.3% |
| Fundraising costs as % of donations | 19.1% | 6.3% | 7.6% |
| Total overhead spending | 44.8% | 23.6% | 23.9% |
| Program cost coverage (%) | 425.6% | 513.6% | 323.5% |
Summary Financial StatementsAll figures in $000s |
2019 | 2018 | 2017 |
|---|---|---|---|
| Donations | 12,027 | 23,880 | 21,343 |
| Special events | 7,216 | 3,961 | 3,664 |
| Investment income | 8,861 | 7,605 | 13,957 |
| Total revenues | 28,104 | 35,446 | 38,964 |
| Grants | 15,981 | 14,391 | 15,912 |
| Administrative costs | 4,940 | 4,800 | 4,074 |
| Fundraising costs | 3,677 | 1,765 | 1,904 |
| Other costs | 1,453 | 1,602 | 1,344 |
| Total spending | 26,051 | 22,558 | 23,234 |
| Cash flow from operations | 2,053 | 12,888 | 15,730 |
| Capital spending | 111 | 65 | 0 |
| Funding reserves | 164,240 | 161,799 | 148,633 |
Salary Information
$350k + |
1 |
$300k - $350k |
0 |
$250k - $300k |
1 |
$200k - $250k |
2 |
$160k - $200k |
1 |
$120k - $160k |
5 |
$80k - $120k |
0 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2019
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Comments & Contact
Comments added by the Charity:
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 416-785-2875