St. Joseph's Healthcare Foundation Hamilton
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✔+
FINANCIAL TRANSPARENCY
Audited financial statements for current and previous years available on the charity’s website.
B
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.
65%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 65 cents are available for programs.
My anchor
OVERVIEW
About St. Joseph's Healthcare Foundation Hamilton:
St. Joseph's Healthcare Foundation Hamilton is a three-star charity with an average results reporting grade and overhead spending outside Ci's reasonable range. The charity is financially transparent and has high funding reserves.
Founded in 1970, St. Joseph’s Healthcare Foundation Hamilton (SJHFH) is a charity that raises money for St. Joseph’s Healthcare Hamilton. St. Joseph’s Healtcare Hamilton is a research and teaching hospital in Hamilton, Ontario. It is affiliated with McMaster University and Mohawk College. The foundation provides grants in four areas: Research, Capital and Equipment, Patient Care, and Education. In F2022, it spent $7.2m in grants.
In F2022, the foundation spent 51% of total grant spending on Research. SJHFH funds research in a variety of fields including addiction, lung health, robotic surgery, and kidney disease. In F2021, it reports that it modernized the Frank Charles Miller academic centre.
The charity spent 35% of grant spending on Capital and Equipment in F2022. The charity reports that it funded the opening of a satellite health facility in November 2020 for patients who wanted non-critical care during the covid-19 pandemic. It also purchased an Apex Revolution CT scanner in F2021.
SJHFH spent 13% of program spending on Patient Care programs in F2022. In F2022, the charity reports that it administered more than 1,000 doses of covid-19 vaccines. In July 2020, it helped the hospital launch a virtual emergency department so that people with less serious conditions could receive care during the pandemic. SJHFH reports that it serves over 4,000 patients each year through its emergency mental health services. The remaining 1% of grant spending was allocated to Education.
My anchor
Results and Impact
St. Joseph’s Healthcare Foundation Hamilton reports that the hospital performed Canada’s first fully surgical esophagectomy in F2022.
While Ci highlights these key results, they may not be a complete representation of St. Joseph’s Healthcare Foundation Hamilton’s results and impact.
This charity is not yet rated on impact (n/r).
My anchor
Finances
In F2022, St. Joseph’s Healthcare Foundation Hamilton received $9.7m in donations. It received $1.4m in special events revenue (9% of total revenue) and $1.0m in gaming and other revenue (7% of total revenue) during the year. The foundation earned $2.4m in investment income in F2022 (17% of total revenue) representing a 7% annual return. Its average annual investment return over the past five years is 6%.
Administrative costs are 25% of total revenue excluding investment income. Fundraising costs are 10% of donations. This results in total overhead spending of 35%. For every dollar donated to the charity, 65 cents go to the cause. This is just outside Ci’s reasonable range for overhead spending.
SJHFH has $43.8m in net funding reserves, including $10.0m in donor-endowed funds. Its net funding reserves, excluding donor-endowed funds, can cover grant spending for around five years.
This charity report is an update that has been sent to St. Joseph’s Healthcare Foundation Hamilton for review. Changes and edits may be forthcoming.
Updated August 24th, 2022 by Arjun Kapur
Financial Review
Fiscal year ending March
|
2022 | 2021 | 2020 |
---|---|---|---|
Administrative costs as % of revenues | 24.9% | 18.9% | 24.9% |
Fundraising costs as % of donations | 10.4% | 6.1% | 9.7% |
Total overhead spending | 35.3% | 25.1% | 34.6% |
Program cost coverage (%) | 503.0% | 366.9% | 289.9% |
Summary Financial StatementsAll figures in $000s |
2022 | 2021 | 2020 |
---|---|---|---|
Donations | 9,681 | 13,066 | 9,152 |
Government funding | 95 | 345 | 0 |
Special events | 1,380 | 1,021 | 1,203 |
Investment income | 2,425 | 4,910 | (1,211) |
Other income | 1,009 | 818 | 649 |
Total revenues | 14,590 | 20,160 | 9,792 |
Grants | 7,227 | 8,780 | 8,471 |
Administrative costs | 3,026 | 2,884 | 2,742 |
Fundraising costs | 1,153 | 866 | 1,001 |
Total spending | 11,405 | 12,530 | 12,213 |
Cash flow from operations | 3,186 | 7,630 | (2,421) |
Capital spending | 7 | 40 | 12 |
Funding reserves | 43,793 | 40,312 | 33,033 |
Note: Ci typically presents lottery and gaming revenue net of expenses. However, since the charity’s audited financial statements lump gaming revenue and other revenue together, Ci included gaming revenue in other revenue. Ci removed amortization on a pro-rata basis from administrative and fundraising costs.
Salary Information
$350k + |
1 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
2 |
$80k - $120k |
4 |
$40k - $80k |
3 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2021
My anchor
Comments & Contact
Comments added by the Charity:
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 905-521-6036