Scarborough Health Network 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.
60%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 60 cents are available for programs.
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OVERVIEW
About Scarborough Health Network Foundation:
Scarborough Health Network Foundation is a one-star charity with an average results reporting grade and overhead spending outside Ci's reasonable range. As with most hospital foundations, the charity is financially transparent and has high funding reserves.
Founded in 1977, Scarborough Health Network Foundation (SHNF) is a charity that raises money for Scarborough Health Network. Scarborough Health Network (SHN) includes three hospitals (Scarborough General, Birchmount, and Centenary) and eight satellite sites. SHN has the largest nephrology program in North America. The hospital partners with University of Toronto and other universities to train aspiring health care workers. The foundation wants to help SHN become the leading community teaching health network in Canada by funding the purchase of new medical technology and infrastructure. In F2022, SHNF granted $313k to the hospital and other organizations.
In F2021, the foundation bought a fluorescence imaging machine for treating patients with lymphedema. It also launched a joint research project with the University Health Network to improve care for nephrology patients. As part of its covid-19 relief program, SHNF donated over 401,000 pieces of personal protective equipment to medical workers during the year, including 27,541 N95 masks and 35,694 pairs of gloves.
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Results and Impact
Charity Intelligence did not find any quantified outcomes on Scarborough Health Network Foundation’s website. This may not be a complete representation of SHNF's results and impact.
This charity is not yet rated on impact (n/r).
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Finances
Scarborough Health Network Foundation received $14.7m in Canadian donations and fundraising revenue in F2022. This represents a 30% increase from F2021. It also earned $372k in investment income in F2022, representing a 4% annual return. Its average annual investment return since F2014 is 5%. The average annual investment return of the S&P 500 from 2014 to 2021 is around 13%. The foundation's funds are invested in a conservative fashion with the portfolio being 51% composed of fixed-income investments.
Combined administrative and fundraising costs are 40% of total revenue excluding investment income. For every dollar donated to the charity, 60 cents go to the cause. This is outside Ci's reasonable range for overhead spending.
SHNF has $25.1m in gross funding reserves, which includes $1.1m of donor-endowed funds. The foundation’s gross funding reserves, excluding donor-endowed funds, can cover average grant spending from F2018 to F2022 for around six years and one month.
This report is an update that has been sent to Scarborough Health Network Foundation for review. Comments and edits may be forthcoming.
Updated on August 25th, 2022 by Arjun Kapur.
Financial Review
Fiscal year ending March
|
2022 | 2021 | 2020 |
|---|---|---|---|
| Administrative costs as % of revenues | 0.0% | 7.0% | 10.8% |
| Fundraising costs as % of donations | 0.0% | 24.1% | 33.7% |
| Fundraising & admin costs as % of revenues | 40.5% | 0.0% | 0.0% |
| Total overhead spending | 40.5% | 31.2% | 44.5% |
| Program cost coverage (%) | 9,380.0% | 327.9% | 304.2% |
Summary Financial StatementsAll figures in $000s |
2022 | 2021 | 2020 |
|---|---|---|---|
| Donations | 14,671 | 11,911 | 9,184 |
| Government funding | 0 | 25 | 0 |
| Investment income | 372 | 1,476 | (536) |
| Total revenues | 15,043 | 13,412 | 8,648 |
| Grants | 313 | 4,575 | 3,307 |
| Administrative costs | 0 | 840 | 989 |
| Fundraising costs | 0 | 2,873 | 3,096 |
| Fundraising & administrative costs | 5,936 | 0 | 0 |
| Total spending | 6,248 | 8,288 | 7,392 |
| Cash flow from operations | 8,795 | 5,124 | 1,255 |
| Capital spending | 0 | 35 | 78 |
| Funding reserves | 25,152 | 15,919 | 10,993 |
Note: Ci used the charity’s T3010 filings to report administrative and fundraising costs in F2021 and F2020. The filing for F2022 was not available at the time of this report. Amortization of capital assets has been removed from combined administrative and fundraising costs in F2022. In F2021 and F2020 it was just removed from administrative costs. Grants have been adjusted to account for changes in amounts due to Scarborough Health Network, affecting expenses by ($5k) in F2022, ($7k) in F2021, and $660k in F2020.
Salary Information
$350k + |
1 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
2 |
$160k - $200k |
0 |
$120k - $160k |
3 |
$80k - $120k |
4 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2021
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Comments & Contact
Comments added by the Charity:
The comments below were provided by the charity with respect to a previous version of this profile. Updated comments may be forthcoming.
Scarborough and Rouge Hospital (SRH) Foundation was formed through a merger of the legacy The Scarborough Hospital Foundation and Rouge Valley Health System Foundation in December 2016. We appreciate Charity Intelligence’s review and will consider the findings thoroughly. Our organization is currently undertaking a major community and stakeholder consultation to inform an organizational rebrand that will chart a course to transform health care in Scarborough. SRH Foundation is committed to operating with accountability and transparency. We look forward to sharing more with our donors following the launch of our new website and annual report in the latter half of 2018.
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 416-431-8130