Grand River Hospital Foundation
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✔
FINANCIAL TRANSPARENCY
Most recent Audited financial statements available on the charity’s website.
D+
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.
44%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 44 cents are available for programs.
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Programs
About Grand River Hospital Foundation:
In 1995, Freeport Hospital Foundation and Kitchener-Waterloo Hospital Foundation merged to become Grand River Hospital Foundation (GRHF), located in Kitchener, Ontario. GRHF raises and provides funds for Grand River Hospital, emphasizing that the hospital needs new equipment, research, and training programs to provide the best care for patients. In F2018, $8.5m was granted to Grand River Hospital. In addition, more than 600 students in a variety of fields come to Grand River Hospital annually for their medical training.
The most recent annual report provided by Grand River Hospital Foundation is 2017. GRHF reported that Grand River Hospital is one of the first hospitals to use the Assessment Urgency Algorithm (AUA), which screens adults over 70, saving time and resources for the hospital. GRHF reports that, in F2017, 68,514 patients accessed care at Grand River Hospital. This is a 15% increase from 2012. Since 2010, GRHF has granted more than $6.6 million for medical imaging equipment and projects. Other fundraising priorities of GRHF are cancer programs, mental health programs and general patient care.
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Finances
Grand River Hospital Foundation is a large charity receiving $5.2m in donations in F2018. It also reported $2.5m in investment income. GRHF reported $15m in grants in F2018. In Ci’s analysis, grants were adjusted to reflect changes in grants payable – total grants paid out in F2018 were $8.5m. In F2018, administrative costs were 17% of revenues (excluding investment income) and fundraising costs were 38% of donations. For every dollar donated, 45 cents go to the cause. This is below Ci’s reasonable range for overhead spending.
GRHF has funding reserves of $29.7m, of which $2.9m are donor-endowed. Excluding endowed funds, the charity's funding reserves can support the charity's activities for 3 years.
This charity report is an update that has been sent to Grand River Hospital Foundation for review. Changes and edits may be forthcoming.
Updated on May 16, 2019 by Parker Thomlinson.
Financial Review
Fiscal year ending March
|
2018 | 2017 | 2016 |
|---|---|---|---|
| Administrative costs as % of revenues | 17.1% | 16.5% | 12.1% |
| Fundraising costs as % of donations | 38.4% | 33.0% | 18.8% |
| Program cost coverage (%) | 320.8% | 362.4% | 660.7% |
Summary Financial StatementsAll figures in $000s |
2018 | 2017 | 2016 |
|---|---|---|---|
| Donations | 5,199 | 5,918 | 8,221 |
| Goods in kind | 9 | 38 | 3 |
| Investment income | 2,470 | 2,301 | 1,614 |
| Total revenues | 7,678 | 8,257 | 9,838 |
| Grants | 8,484 | 8,609 | 4,989 |
| Administrative costs | 891 | 981 | 997 |
| Fundraising costs | 1,997 | 1,953 | 1,549 |
| Cash flow from operations | (3,694) | (1,535) | 2,210 |
| Funding reserves | 29,656 | 33,427 | 34,758 |
Note: The Foundation changed its fiscal year end from December 31 to March 31. The fiscal period ending March 31, 2016 represents 15 months of operations. Ci adjusted for changes in amounts payable to the hospital, affecting total expenses by ($6.5m), ($1.7m), and $93k, in 2018, 2017, and 2016, respectively.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
1 |
$120k - $160k |
1 |
$80k - $120k |
0 |
$40k - $80k |
8 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2018
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Comments & Contact
Comments added by the Charity:
Charity Contact
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