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Mount Sinai Hospital Foundation Montreal

5690 Boul Cavendish
Montreal, QC H4W 1S7
CEO: Wendy Corn
President: Eric Maldoff

Charitable Reg. #: 11892 4331 RR0001
Sector: Health - Hospital Foundation
Private Foundation

Results Reporting

Grade: D+

The grade is based on the charity's public reporting of the work it does and the results it achieves.

Financial Transparency

Audited financial statements available only through official request for information from Canada Revenue Agency [Audited financial statement for most recent year]

Need for Funding

Funding Reserves Program Costs

Spending Breakdown

Cents to the Cause

2013 2014 2015
For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #4

Avg. Compensation $59,812

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 0
$120k - $160k 1
$80k - $120k 0
$40k - $80k 1
< $40k 2
Information from most recent CRA Charities Directorate filings for F2015

About Mount Sinai Hospital Foundation Montreal:

Founded in 1973, Mount Sinai Hospital Foundation Montreal (MSHFM) fundraises for Montreal’s Mount Sinai Hospital with the goal of supporting excellence in pulmonary and palliative care. The hospital has 107 beds and specializes in respiratory care, long-term care and palliative care. It is a clinical research leader in chronic obstructive pulmonary disease and sleep apnea. The hospital’s sleep apnea clinic is technologically advanced, helping patients who experience chronic diseases sleep better and, ultimately, live better. Treating sleep apnea reduces long-term risks of heart attacks and strokes. The hospital is currently participating in 24 research projects on pulmonary rehabilitation, sleep apnea and palliative care.

MSHFM has 2 major donor events, Car Rally and Six and the City. These events brought in $297k in F2015, $451k in F2014, and $541k in F2013.

Financial Review:

Mount Sinai Hospital Foundation Montreal is a small-cap charity hospital foundation with total donations and special events fundraising of $771k in F2015. Administrative costs were 31% of revenues. Fundraising costs were 17% of donations. For every $1 donated to the charity, 51 cents go towards MSHFM’s grants to the hospital, falling outside of Ci’s reasonable range. MSHFM had funding reserves in F2015 of $3.8m, of which $1.7m are donor-endowed. This results in a program cost coverage ratio, excluding donor-endowed funds, of 552%, meaning that the charity can cover over 5.5 years of program costs with its current reserves. MSHFM has committed to grant $403k in F2016.

This charity report is an update that is being reviewed by Mount Sinai Hospital Foundation Montreal. Changes and edits may be forthcoming.

Updated on May 29, 2017 by Kevin Silberberg.

Financial Ratios

Fiscal year ending December
Administrative costs as % of revenues 31.3%46.4%42.4%
Fundraising costs as % of donations 17.2%24.3%28.0%
Program cost coverage (%) 811.7%477.9%361.6%

Summary Financial Statements

All figures in $s
Donations 473,881508,924461,073
Goods in kind 879,000179,000337,000
Special events 297,348451,413541,384
Investment income 114,723174,405232,486
Total revenues 1,764,9521,313,7421,571,943
Grants 463,654660,656909,760
Administrative costs 516,165528,443567,753
Fundraising costs 132,548233,480280,543
Cash flow from operations 652,585(108,837)(186,113)
Funding reserves 3,763,5793,157,5303,289,813
Note: Ci has adjusted expenses by including grants to the Mount Sinai Hospital Montreal, increasing expenses by $464k in F2015, $661k in F2014, and $910k in F2013.

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