Grand River Hospital Foundation

835 King Street West
Kitchener, ON N2G 1G3
Acting CEO: Stephen Swatridge
Board Chair: Diane Wolfenden

Website: www.grhf.org
Charitable Reg. #: 88918 0394 RR0001
Sector: Health - Hospital Foundation
Public 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

Most recent audited financial statements available on the charity's website [Audited financial statement for most recent year]

Need for Funding

Funding Reserves Program Costs

Spending Breakdown

Cents to the Cause

95¢
75¢
avg
65¢
50¢
2016 2017 2018
For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #19

Avg. Compensation $84,526

Top 10 Staff Salary Range

$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

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 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 2016-2017, 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.

Financial Review:

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 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 charities 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 Ratios

Fiscal year ending March
201820172016
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 (%) 349.6%388.3%696.7%

Summary Financial Statements

All figures in $000s
201820172016
Donations 5,1995,9188,221
Goods in kind 9383
Investment income 2,4702,3011,614
Total revenues 7,6788,2579,838
Grants 8,4848,6094,989
Administrative costs 891981997
Fundraising costs 1,9971,9531,549
Cash flow from operations (3,694)(3,285)2,303
Funding reserves 29,65633,42734,758
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 $(6,517,423), $(1749894), and $93265, in 2018, 2017, and 2016, respectively.

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