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Richmond Hospital Foundation

7000 Westminster Highway
Richmond, BC V6X 1A2
President & CEO: Natalie D. Meixner
Board Chair: Kyle Shury

Charitable Reg. #: 11911 8883 RR0001
Sector: Health - Hospital Foundation
Public Foundation

Results Reporting

Grade: C

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 #10

Avg. Compensation $90,502

Top 10 Staff Salary Range

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

About Richmond Hospital Foundation:

Founded in 1987, the Richmond Hospital Foundation is based in Richmond, British Columbia. Due to the rising costs of modern medical technology and rapid population growth, the BC government can only fund the basic operating and administrative costs of the hospital. As a result, the Richmond Hospital Foundation’s objective is to raise money for the Richmond Hospital to be able to finance what the government cannot fund such as new equipment, tools, training, and renovations.

In F2016, Richmond Hospital Foundation granted $1.6 million to the hospital, which allowed the hospital to purchase new equipment, provide over 4000 patients with new cytoscopes, and provide acute care training to 15 doctors. Its new goal is to raise $952k by F2017 to purchase equipment for the hospital’s current greatest needs: cardiac emergencies, orthopedics, colon cancer screening, medical imaging, and births.

Financial Review:

Richmond Hospital Foundation is a big-cap charity with donations of $5.1m in F2016. Its administrative costs are 19% of revenues, and its fundraising costs are 18% of donations. For every dollar donated, 64 cents go towards Richmond Hospital Foundation’s programs, falling just outside Ci’s reasonable range. The charity has $9.7m in total funding reserves of which $537k is donor-endowed. This results in a program cost coverage ratio excluding donor-endowed funds of 473%, meaning that Richmond Hospital Foundation can cover almost 5 years of its annual program costs using its existing reserves.

This charity profile is an update currently under review by Richmond Hospital Foundation.

Updated June 15, 2017 by Kevin Silberberg.

Financial Ratios

Fiscal year ending June
Administrative costs as % of revenues 18.9%18.0%16.2%
Fundraising costs as % of donations 17.5%17.2%12.1%
Program cost coverage (%) 493.5%241.9%160.9%

Summary Financial Statements

All figures in $000s
Donations 5,0635,2765,760
Goods in kind 720505407
Investment income 195186265
Total revenues 5,9785,9676,432
Grants 1,9723,7005,315
Administrative costs 1,0931,042997
Fundraising costs 887905699
Cash flow from operations 2,025319(580)
Funding reserves 9,7338,9488,553

Comments added by the Charity:

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