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Grand River Hospital Foundation

835 King Street West
Kitchener, ON N2G 1G3
President & CEO: Tracey Bailey
Board Chair: Helen D.K. Friedman

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

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

Full-time staff #8

Avg. Compensation $77,630

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 0
$120k - $160k 0
$80k - $120k 4
$40k - $80k 2
< $40k 2
Information from most recent CRA Charities Directorate filings for F2014

About Grand River Hospital Foundation:

In 1995, Freeport Hospital Foundation and Kitchener-Waterloo Hospital Foundation merged to become Grand River Hospital Foundation (GRHF). GRHF fundraises for Grand River Hospital, to be used for patient care, equipment needs, capital building projects and renovations, and local clinical and health research and education.

Grand River Hospital Foundation reports that one of its fundraising priorities is its Freeport Campus, a rehabilitative care center that offers specialized services for the community. GRHF also reports that its Freeport Campus needs a new Patient Wandering System to protect patients at risk of wandering. GRHF’s other fundraising priorities include childbirth and children’s services, cancer programs and surgical programs.

In F2016, Grand River Hospital Foundation provided $5 million in grants to Grand River Hospital.

Financial Review:

Grand River Hospital Foundation is a large charity, with donations of $8.2m in F2016. Its administrative costs are 12% of revenues and its fundraising costs are 19% of donations. For every $1 donated to the charity, 69 cents is put towards its programs, falling within Ci’s reasonable range. The charity’s funding reserves of $34.8m include $2.7m in donor-endowed funds. This results in a program cost coverage ratio, excluding donor-endowed funds, of 661%. This means that the charity can cover 6.6 years of its annual programs using its existing reserves.

This charity report is an update that is being reviewed by Grand River Hospital Foundation. Changes and edits may be forthcoming.

Updated on August 2, 2016 by Lynn Tay.

Financial Ratios

Fiscal year ending March
Administrative costs as % of revenues 12.1%11.1%13.3%
Fundraising costs as % of donations 18.8%19.5%20.5%
Program cost coverage (%) 696.7%550.2%721.7%

Summary Financial Statements

All figures in $000s
Donations 8,2215,8265,140
Goods in kind 32813
Investment income 1,6143,8112,454
Total revenues 9,8389,6657,607
Grants 4,9895,9264,334
Administrative costs 997650685
Fundraising costs 1,5491,1381,053
Cash flow from operations 2,3031,9511,534
Funding reserves 34,75832,60231,280
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 has adjusted amortization affecting expenses by ($13k) in F2016, by ($10k) in F2014, and by ($7k) in F2013.

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