St. Joseph's Healthcare Foundation Hamilton

224 James St. S.
Hamilton, ON L8P 3A9
President & CEO: Sera Filice-Armenio
Board Chair: William Walker

Charitable Reg. #:11918 3549 RR0001

STAR RATING

Ci's Star Rating is calculated based on the following independent metrics:

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✔+

FINANCIAL TRANSPARENCY

Audited financial statements for current and previous years available on the charity’s website.

C+

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.

66%

CENTS TO THE CAUSE

For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 66 cents are available for programs.



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Programs

About St. Joseph's Healthcare Foundation Hamilton:

Founded in 1970, St. Joseph’s Healthcare Foundation Hamilton (St. Joseph's Foundation) raises funds to support patient care and research at St. Joseph’s Healthcare Hamilton. St. Joseph's Healthcare Hamilton is a 777-bed research and teaching hospital in Hamilton, Ontario.

St. Joseph's Foundation provides grants in four main areas. These include capital and equipment (61% of grants in F2020), research (31%), programs (6%), and education (2%).

In F2020, St. Joseph’s Healthcare Foundation Hamilton purchased a new portable x-ray and two Optiflow breathing support machines to support COVID-19 patients. It also purchased 50 baby monitors, among other essential equipment. St. Joseph's Foundation prides itself on combining healthcare with innovative technology. The foundation estimates that it helps to fund around 350 robot-assisted surgeries each year. Since 2012, its surgical robots have reportedly treated more than 2,000 patients.

St. Joseph's Foundation funds research in various medical fields, ranging from cancer treatment to addiction. According to the foundation, its researchers have participated in 14 clinical trials on urologic cancer as of F2019. In addition, the Peter Boris Centre for Addictions Research had 24 active addiction research projects in F2019.

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Results and Impact

St. Joseph's Foundation states that its doctors and researchers are national leaders in robotic healthcare technology. It reports that Dr. Waël Hanna accounts for 70% of all thoracic or lung-related robotic surgeries performed in Canada. The foundation states that Dr. Bobby Shayegan also completes the highest volume of robot-assisted prostate surgeries in the country.

While Ci highlights these key results, they may not be a complete representation of St. Joseph’s Healthcare Foundation Hamilton’s results and impact.

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Finances

St. Joseph’s Healthcare Foundation Hamilton is a Large charity with $11.0m in donations and special events revenues in F2020. Administrative costs are 25% of revenues (less investment income) and fundraising costs are 9% of donations and special events revenue. This results in total overhead spending of 34%. For every dollar donated to the charity, 66 cents go to the cause. This falls just within Ci’s reasonable range for overhead spending.

The foundation has $32.2m in funding reserves, which results in a program cost coverage ratio of 383%. This means that the foundation can cover around 3.8 years of its annual program costs using existing reserves.

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 7, 2020 by Eric Zhao.

Financial Review


Financial Ratios

Fiscal year ending March
202020192018
Administrative costs as % of revenues 24.9%27.9%22.0%
Fundraising costs as % of donations 9.1%9.9%8.7%
Total overhead spending 34.0%37.8%30.7%
Program cost coverage (%) 382.5%470.9%352.1%

Summary Financial Statements

All figures in $000s
202020192018
Donations 9,1527,94910,121
Special events 1,8512,2332,291
Investment income (1,211)2,2011,308
Total revenues 9,79212,38413,720
Grants 8,4077,2219,070
Administrative costs 2,7422,8412,726
Fundraising costs 1,0011,0091,081
Total spending 12,14911,07212,877
Cash flow from operations (2,357)1,312843
Capital spending 123025
Funding reserves 32,16034,00231,938

Note: Ci adjusted grants by changes in payables to St. Joseph Healthcare Hamilton. This affected grants and total expenses by ($64k) in F2020, $128k in F2019, and ($112k) in F2018. Ci typically presents lottery and gaming revenue net of expenses. However, since the charity’s financial statements do not identify gaming-specific expenses, Ci included gaming revenue in special events fundraising. Ci removed amortization on a pro-rata basis from administrative and fundraising costs.

Salary Information

Full-time staff: 22

Avg. Compensation: $100,205

Top 10 staff salary range:

$350k +
1
$300k - $350k
0
$250k - $300k
0
$200k - $250k
0
$160k - $200k
1
$120k - $160k
4
$80k - $120k
2
$40k - $80k
2
< $40k
0

Information from most recent CRA Charities Directorate filings for F2019

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Comments & Contact

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Charity Contact

Website: www.stjoesfoundation.ca
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 905-521-6036

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