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.
B-
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.
67%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 67 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 Center for Geriatric Care. Baycrest opened its doors in 1918 as the Toronto Jewish Old Folks Home. Now located on a 22-acre campus in Toronto, 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: Capital, Research, Care, and Education.
The charity's Capital program accounted for 38% of program spending in F2021. Baycrest Foundation reports it is currently renovating Terraces, a retirement residence, to create designated floors for assisted living and memory care support. The charity does not report specific activities completed within this program in F2021.
Baycrest Foundation’s Research program accounted for 31% of program spending in F2021. The charity funds studies focusing on indicators and treatments for neurodegenerative diseases such as dementia. Baycrest Foundation reports 245 research studies are ongoing, led by 90 researchers, with 15,000 study participants.
Baycrest Foundation’s Care program accounted for 30% of program spending in F2021. The charity reports 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 volunteer services such as pet therapy and eating assistance. Baycrest’s long-term and assisted living houses 1,100 seniors. The charity also helps to purchase hospital equipment and support mental health programs. In F2021, Baycrest Hospital helped 1,115 patients and its ambulatory clinics served 11,868 clients.
Education accounted for the final 2% of program spending. The charity works to train students and future healthcare providers on brain health and elderly care. Baycrest Foundation states it trains more than 1,100 students each year. Baycrest’s health information portal reached 7,236 users in F2021.
The charity also reports funding Baycrest’s Centre for Aging and Brain Health Innovation (CABHI) and other innovative-focused programs. CABHI reports it is currently working on 30 innovation projects with 20 projects expected to be implemented into a Baycrest facility or program in the near future. Innovations include projects such as developing an inexpensive toolkit to help physicians, physiotherapists and other healthcare professionals more accurately assess balance and mobility.
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Results and Impact
Research studies funded by Baycrest Foundation have made advancements such as the discovery of connections between the memory centre and the system responsible for our eye movements in the brain. The research is helping to explain why forgetfulness increases as people age.
Baycrest’s Virtual Behavioural Medicine Program, a short-term consultation service, has eliminated the one-year waitlist for Baycrest’s Behavioural Neurology Inpatient Unit. The program is also anticipated to reduce the need to admit patients to this unit by 65% to 90%.
While Ci highlights these key results, they may not be a complete representation of Baycrest Centre Foundation’s results and impact. This charity is not yet rated on impact (n/r).
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Finances
Baycrest Foundation has donations and special events revenues of $19.7m in F2021. Administrative costs are 16% of revenues (less investment income) and fundraising costs are 17% of donations. This results in total overhead spending of 33%. For every dollar donated, 67 cents go to the cause. This is within Ci’s reasonable range for overhead spending.
Baycrest Foundation granted $10.4m to Baycrest Center for Geriatric Care in F2021, a 32% decrease from $15.2m in F2020.
Baycrest Foundation has $181.9m in funding reserves, of which $135.6m is donor endowed. Excluding donor-endowed funds, the charity could continue granting activity at current levels for almost 13 years with current reserves.
Baycrest Foundation's funding reserves earned investment income of $26.3m in F2021. This represents an annual return on investment of 17% compared with investment returns of -2% in F2020. As of F2021, the foundation holds its investments in stocks (67%), bonds (20%), cash (9%), and other (4%).
This charity report is an update that has been sent to Baycrest Foundation for review. Changes and edits may be forthcoming.
Updated on September 23, 2021 by Brenleigh Jebb.
Financial Review
Fiscal year ending March
|
2021 | 2020 | 2019 |
|---|---|---|---|
| Administrative costs as % of revenues | 15.5% | 17.7% | 15.7% |
| Fundraising costs as % of donations | 17.4% | 27.5% | 36.7% |
| Total overhead spending | 32.9% | 45.1% | 52.3% |
| Program cost coverage (%) | 1,281.3% | 436.3% | 425.6% |
Summary Financial StatementsAll figures in $000s |
2021 | 2020 | 2019 |
|---|---|---|---|
| Donations | 18,512 | 15,903 | 12,027 |
| Special events | 1,173 | 2,774 | 7,216 |
| Investment income | 26,297 | (2,932) | 8,861 |
| Total revenues | 45,982 | 15,745 | 28,104 |
| Grants | 10,394 | 15,225 | 15,981 |
| Administrative costs | 3,054 | 3,306 | 3,016 |
| Fundraising costs | 3,429 | 5,126 | 7,054 |
| Total spending | 16,877 | 23,657 | 26,051 |
| Cash flow from operations | 29,105 | (7,912) | 2,053 |
| Capital spending | 0 | 33 | 111 |
| Funding reserves | 181,897 | 156,305 | 164,240 |
Note: Ci reported administrative and fundraising costs from the charity’s T3010 filings with the CRA. The T3010 expenses did not reconcile with the audited financial statements. The difference in amounts were backed out of fundraising costs. Ci removed amortization from administrative and fundraising costs on a pro-rata basis.
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 F2020
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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