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St. Joseph's Health Care Foundation of London

550 Wellington Road
London, ON N6C 0A7
President & CEO: Michelle M. Campbell
Board Chair: Ian Dantzer

Charitable Reg. #: 11918 3390 RR0001
Sector: Health - Hospital Foundation
Public Foundation

Results Reporting

Grade: B

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 for current and previous years 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

2014 2015 2016
For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #27

Avg. Compensation $86,878

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 1
$160k - $200k 0
$120k - $160k 3
$80k - $120k 6
$40k - $80k 0
< $40k 0
Information from most recent CRA Charities Directorate filings for F2016

About St. Joseph's Health Care Foundation of London:

Founded in 2004, St. Joseph’s Health Care Foundation of London (SJHCF) provides a link between care, research, philanthropy and the community of St. Joseph’s Health Care Centre in London, Ontario. Its mission is to invest in healthcare innovation and discovery at St. Joseph’s that would otherwise not be possible.

St. Joseph’s Health Care Foundation of London notes funding priorities as imaging and surgery, discovery and innovation, recovery and rehabilitation, prevention and management, and care and comfort. In F2016, SJHCF disbursed $4.2m in grants. Research initiatives received $3.7m (90% of total grants), while patient care received $270k (6%) and education initiatives received $152k (4%).

In F2016, SJHCF reported outcomes in research regarding eye conditions in children and depression. Of the 1,200 children screened using SJHCF’s new technology, 70 had early signs of vision impairment. Medical research in depression discovered that Transcranial Magnetic Stimulation (TMS), which is a non-invasive method that directs short electromagnetic pulses to targeted areas of the brain, aided in the full recovery of almost half of clinical research participants.

Financial Review:

St. Joseph’s Health Care Foundation of London is a big-cap charity with $6.8m in donations and special events fundraising in F2016. In F2015, SJHCF received a grant of $5m from the City of London to be held in a separate account which can only be accessed by SJHCF upon approval of expenditures from the city. In F2016, $1m of the grant was transferred to the London Medical Commercialization and Innovation Network. SJHCF had an investment loss of $674k. The charity reports investment returns of -1.44% and notes that 85% of the assets are endowment funds held in perpetuity.

In F2016, administrative costs were 12% of revenues and fundraising costs were 37% of donations. For every $1 donated, 51 cents go to the cause. This falls outside of Charity Intelligence’s reasonable range of overhead spending. 

St. Joseph’s Health Care Foundation of London has $72.7m in funding reserves, including $54.8m of donor-endowed funds. As such, SJHCF can cover annual program costs 17.5 times (12.6 times excluding donor-endowed funds). 

The charity report is an update that is currently being reviewed by St. Joseph’s Health Care Foundation of London. Changes and edits may be forthcoming.

Updated June 1, 2017 by Juliana Badovinac

Financial Ratios

Fiscal year ending March
Administrative costs as % of revenues 12.2%19.8%14.7%
Fundraising costs as % of donations 37.2%36.8%39.5%
Program cost coverage (%) 1,746.5%1,487.9%2,342.8%

Summary Financial Statements

All figures in $000s
Donations 5,8954,8734,302
Government funding 1,00000
Lotteries (net) 5165560
Special events 9181,3202,201
Investment income (674)8,4825,487
Total revenues 7,65615,23111,990
Grants 4,1634,9552,652
Administrative costs 1,0171,333957
Fundraising costs 2,5372,2782,567
Cash flow from operations (62)6,6655,813
Funding reserves 72,70973,71962,136
Note: Ci reports lotteries net of expenses. As such, lottery and raffle revenues and expenses were backed out of special events and are reported net, decreasing special events revenues by $516k in F2016 and $556k in F2015.

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