Saanich Peninsula Hospital 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.
76%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 76 cents are available for programs.
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OVERVIEW
About Saanich Peninsula Hospital Foundation:
Saanich Peninsula Hospital foundation is a three-star charity with reasonable overhead costs. It is financially transparent and has a below average results reporting grade. Its funding reserves can cover 6 years of average grants over the past three years.
Founded in 1985, Saanich Peninsula Hospital Foundation (SPHF) raises funds to support the health of the Saanich Peninsula and Southern Gulf Island communities in British Columbia. SPHF grants to Saanich Peninsula Hospital (SPH) and Shoreline Medical Society.
In F2022, SPHF allocated 47% of total grants to equipment purchases at SPH. This included $348k for general equipment, $323k specifically for acute care, $73k for imaging and $16k for operating rooms. In F2022 the Foundation reports that it has purchased a Siemens X-ray machine, a chemistry analyzer, and an automated slider for the Lab, along with other pieces of equipment.
SPHF allocated 15% of total grants to Shoreline Medical Society in F2022. In F2020, Shoreline Medical opened its second primary care centre in Brentwood, BC. The centres have a combined team of 25 family physicians which bring in almost 17,000 patients.
The remaining grants went to programs at SPH including Long-Term Care Activation (20%), the garden fund (10%), palliative care (4%), education (4%) and the chapel (1%). In F2022, SPHF purchased 60 beds for the Long-Term Care unit. The Foundation also provided 36 continuing education bursaries for hospital staff members.
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Results and Impact
In F2016, Saanich Peninsula Hospital Foundation conducted a survey of local residents. Of the 166 respondents, 156 (94%) reported they believe SPHF positively impacts the lives of Saanich Peninsula residents.
While Charity Intelligence highlights these key results, they may not be a complete representation of Saanich Peninsula Hospital Foundation’s results and impact. This charity is not yet rated for impact (n/r).
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Finances
The Saanich Peninsula Hospital Foundation received $3.8m in donations and special events revenue in F2022. Administrative costs are 12% of revenues (less investment income) and fundraising costs are 12% of donations. This results in total overhead spending of 24%. For every dollar donated, 76 cents go to the cause, which is within Ci’s reasonable range for overhead spending. Saanich Peninsula Hospital Foundation had one of the lowest overhead costs of any Canadian hospital foundation in F2021.
SPHF has $18.8m in reserve funds. These funds are SPHF’s cash and investments. In these reserve funds, $3.2m are endowed by donors. Excluding donor-endowed funds, the Foundation can cover ten years of F2022 program costs or 6.2 years of average program costs over the past three years with its current reserves. The program cost coverage more than doubled in F2022 primarily a 52% reduction decrease grants dispersed.
Saanich Peninsula Hospital Foundation’s funding reserves earned investment income of $334k in F2022. This represents an annual return on investment of 3% for F2022. The foundation holds its investments in stocks (55%) and bonds (45%).
Charity Intelligence sent an update of this report to Saanich Peninsula Hospital Foundation for review. Changes and edits may be forthcoming.
Updated on June 14, 2023 by Alessandra Castino
Financial Review
Fiscal year ending March
|
2022 | 2021 | 2020 |
|---|---|---|---|
| Administrative costs as % of revenues | 11.8% | 8.3% | 15.4% |
| Fundraising costs as % of donations | 11.8% | 9.6% | 21.4% |
| Total overhead spending | 23.7% | 17.9% | 36.8% |
| Program cost coverage (%) | 1,014.6% | 463.6% | 382.0% |
Summary Financial StatementsAll figures in $s |
2022 | 2021 | 2020 |
|---|---|---|---|
| Donations | 3,743,912 | 4,470,887 | 2,598,706 |
| Goods in kind | 2,640 | 5,840 | 4,500 |
| Special events | 92,527 | 114,076 | 150,543 |
| Investment income | 333,522 | 1,914,842 | (309,733) |
| Other income | 0 | 0 | 23,970 |
| Total revenues | 4,172,601 | 6,505,645 | 2,467,986 |
| Program costs | 84,545 | 63,524 | 72,566 |
| Grants | 1,614,033 | 3,349,812 | 3,515,638 |
| Administrative costs | 454,049 | 379,837 | 428,371 |
| Fundraising costs | 454,005 | 440,764 | 587,389 |
| Total spending | 2,606,632 | 4,233,937 | 4,603,964 |
| Cash flow from operations | 1,565,969 | 2,271,708 | (2,135,978) |
| Capital spending | 2,650 | 18,067 | 4,492 |
| Funding reserves | 18,788,350 | 18,247,942 | 15,853,077 |
Note: Ci consistently reports donations and special fundraising events revenue before fundraising costs. This adjusts Saanich Foundation's numbers: donations, fundraising events, and fundraising costs go up by $146k in F2022, $164k in F2021, and $253k in F2020. SPFH allocates all its amortization costs to its admin costs, as reported in Schedule of Expenses in its audited financial statement. Ci has not changed this allocation SPFH's other revenues include $2k increase in cash surrender values and $22k in rental income in F2020. In F2022 SPHF did not report salary range values on its T3010 filings with the CRA.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
0 |
$80k - $120k |
0 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2022
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Comments & Contact
Comments added by the Charity:
Charity Contact
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