3C60 11111 Jasper Ave. NW
Edmonton, AB T5K 0L4
CEO: Tracy Sopkow
Board Chair: Ron Gilbertson

Charitable Reg. #:12586 8125 RR0001


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

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



Grade based on the charity's public reporting of the work it does and the results it achieves.



The demonstrated impact per dollar Ci calculates from available program information.


Charity's cash and investments (funding reserves) relative to how much it spends on programs in most recent year.



For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 42 cents are available for programs.

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My anchor


About Covenant Foundation:

In 1994, Edmonton General Hospital, Grey Nuns Hospital and Misericordia Hospital merged into one health group, the Caritas Health Group. At the same time, the independent hospital foundations serving each of the hospitals began operating together as the Caritas Foundation. In April 2016, the Foundation was renamed to Covenant Foundation and is now the fundraising arm for 20 healthcare facilities across Alberta. Covenant Foundation reports that 10% of all emergency visits and 20% of all births in Alberta are at a Covenant health facility. 

Covenant Foundation funds capital equipment, programs, projects, and services related to acute and continuing care.  In F2018, Covenant Foundation granted $2.9m to hospitals and received $5.2m in revenue. 

In F2018, Covenant Care, a patient care program of Covenant health centers, operated 785 continuing care beds and 65 independent living beds, amounting to 310,250 resident days, at seven facilities in five communities, across Alberta. In addition, Covenant Foundation reports that the Neonatal Intensive Care Unit at Misericordia Community Hospital helps to provide compassionate care for every one of the NICU’s 1,200 patients per year. The NICU is comprised of 23 private rooms (including two that can accommodate twins or triplets), as opposed to the previous 18 spaces in two pods. 

My anchor


Covenant Foundation is a medium-sized charity with $3.1m in donations in F2018Covenant also received $1.6m in investment income in F2018. Administrative costs were 39% of revenues and fundraising costs were 19% of donations. For every dollar donated, 42 cents go to the cause. This is outside of Charity Intelligence’s reasonable range for overhead spending. 

The Foundation has funding reserves of $37.5m, including $8.9m in donor-endowed funds. Excluding donor-endowed funds, Covenant Foundation can cover annual program costs for just over 13 years. Covenant Foundation used external fundraisers in F2018. The charity spent $51k to raise $788k from the external fundraiser for a cost of 7 cents per dollar raised. 

This charity report is an update that has been sent to Covenant Foundation for review. Changes and edits may be forthcoming.

Updated on June 28, 2019 by Parker Thomlinson.

Financial Review

Financial Ratios

Fiscal year ending March
Administrative costs as % of revenues 39.3%37.2%50.5%
Fundraising costs as % of donations 19.1%11.8%12.9%
Program cost coverage (%) 1,183.2%439.0%(1,108.3%)

Summary Financial Statements

All figures in $000s
Donations 3,1473,2292,272
Goods in kind 231275245
Lotteries (net) 225371(287)
Special events 00229
Investment income 1,5563,028(90)
Other income 38500
Total revenues 5,1976,9532,369
Grants 2,8656,770(2,292)
Administrative costs 1,4321,4581,242
Fundraising costs 599382322
Cash flow from operations 301(1,657)3,097
Funding reserves 37,54736,64538,045

Note: The Foundation’s audited financial statements are presented as Caritas Hospitals Foundation. Caritas Hospitals Foundation’s statements include the audited financial statements of The General Hospital (Grey Nuns) of Edmonton Hospital Foundation and the Misericordia Hospital Foundation. Expenses were adjusted for lottery expenses (reported as revenues net of expenses), loss on write-off of capital assets, and home and split lotteries expenses affecting expenses by ($4.9m) in F2018, ($5.1m) in F2017, and ($5.2m) in F2016. An adjustment was made to grants reflecting the change to grants payable year over year, affecting spending by ($3.4m) in F2018, $2m in F2017, and ($4.7m) in F2016. 

Salary Information

Full-time staff: 11

Avg. Compensation: $75,304

Top 10 staff salary range:

$350k +
$300k - $350k
$250k - $300k
$200k - $250k
$160k - $200k
$120k - $160k
$80k - $120k
$40k - $80k
< $40k

Information from most recent CRA Charities Directorate filings for F2018

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Charity Contact

Website: www.covenantfoundation.ca
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