BC Cancer Foundation
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.
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.
68%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 68 cents are available for programs.
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OVERVIEW
About BC Cancer Foundation:
BC Cancer Foundation is a 2-star rated charity with a below-average results reporting grade. The charity is financially transparent and has reserve funds that can cover eleven years of its annual program costs.
Founded in 1935, BC Cancer Foundation (BCCF) raises money for BC Cancer. The charity states that based on current estimations one in two people will be diagnosed with cancer in their lifetime. It also states that cancer continues to take more lives than any other disease. BC Cancer runs six regional cancer centres in Abbotsford, Kelowna, Prince George, Surrey, Vancouver, and Victoria. These centres provide comprehensive cancer care to those in BC. BC Cancer also researches various types of cancer.
BCCF granted $44.0m in grants to BC Cancer in F2024. When considering deferred grants to be paid in future years, BCCF gave $40.2m in F2024. These grants fund research, patient care and equipment purchases.
The Research and Education program received 83% of program spending. Stereotactic ablative radiotherapy (SABR) delivers higher doses of radiation directly to the tumor site, resulting in fewer side effects. A clinical trial fueled by BC Cancer is testing the use of a single dose of SABR on people whose cancer has spread. This trial will be available at all six BC Cancer centres. BC Cancer established Canada’s first province-wide screening program. BCCF states that the screening program has discovered more than 140 confirmed cancers in people who do not have symptoms.
The Enhancements to Patient Care program received 16% of program spending. BCCF states that Indigenous patients have historically poorer cancer outcomes. The Indigenous Patient Relief Fund helps cover essentials and treatment-related expenses. These funds are available at all six BC Cancer centres. It also announced that four new BC Cancer centres are in development. These centres will be in Surrey, Kamloops, Burnaby, and Nanaimo.
The remaining 1% of program spending consists of major equipment purchases.
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Results and Impact
BCCF reports research led by BC Cancer has improved the standard of care for curative prostate cancer. The previous standard of care was five to eight weeks of daily radiation treatments. The standard of care now is five weekly doses of SABR.
BCCF reports that in January 2024, BC was the first province in Canada to establish a new self-test option. This increases access to life-saving cervical cancer screening. The charity states this can increase coverage in people who have never been screened or are under screened by up to 20%.
While Ci highlights these key results, they may not be a complete representation of BC Cancer Foundation’s results and impact.
The charity is not yet rated on impact (n/r).
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Finances
In F2024 BC Cancer Foundation received $62.0m in donations and special events fundraising. Administrative costs are 12% of revenues (excluding investment income). Fundraising costs are 20% of donations. This results in total overhead spending of 32%. For every dollar donated, 68 cents are available to go to the cause. This falls within Ci’s reasonable range for overhead spending.
In F2024 BCCF spent $40.2m on its grants, which is 36% of its revenue. In F2024 it had a surplus of $38.2m.
BC Cancer Foundation has $444.4m in reserve funds. This can cover 1107%, or eleven years and one month of its annual program spending. BCCF has total investments of $322.0m. 51% is in equities, 29% in other investments, 15% in short-term investments, and 5% in cash and cash equivalents. In F2024, the annual return on investment for BCCF was 23%. Its five-year annual return on investment is 10%.
In F2024, BCCF paid external fundraisers $990k who collected $2.8m in donations. This means it cost BCCF 36 cents to raise $1 using external fundraisers.
This charity report is an update that has been sent for review to BC Cancer Foundation. Changes and edits may be forthcoming.
Updated on July 29, 2024, by Grady Simpson.
Financial Review
Fiscal year ending March
|
2024 | 2023 | 2022 |
|---|---|---|---|
| Administrative costs as % of revenues | 11.7% | 2.9% | 7.5% |
| Fundraising costs as % of donations | 20.0% | 15.7% | 13.4% |
| Total overhead spending | 31.7% | 18.7% | 20.9% |
| Program cost coverage (%) | 1,107.0% | 974.0% | 948.3% |
Summary Financial StatementsAll figures in $000s |
2024 | 2023 | 2022 |
|---|---|---|---|
| Donations | 53,720 | 56,198 | 55,047 |
| Government funding | 0 | 150,000 | 4,196 |
| Special events | 8,259 | 7,296 | 6,238 |
| Investment income | 35,035 | 7,761 | 8,554 |
| Other income | 1,077 | 1,030 | 2,699 |
| Total revenues | 98,091 | 222,285 | 76,734 |
| Grants | 40,150 | 41,814 | 25,478 |
| Administrative costs | 7,359 | 6,315 | 5,121 |
| Fundraising costs | 12,394 | 9,975 | 8,199 |
| Total spending | 59,903 | 58,104 | 38,798 |
| Cash flow from operations | 38,188 | 164,181 | 37,936 |
| Capital spending | 0 | 0 | 0 |
| Funding reserves | 444,443 | 407,267 | 241,597 |
Note: CHANGE IN ACCOUNTS PAYABLE: Ci adjusted grants for changes in accounts payable to BC Cancer. This affected total expenses by ($3.8m) in F2024, ($2.5m) in F2023, and ($133k) in F2022. UNREALIZED GAIN (LOSS): Ci included unrealized gain (loss) under investment income. This affected total revenues by $13.1m in F2024, ($4.0m) in F2023, and ($330k) in F2022. T3010: The most recent T3010 available at the time of this update was from F2023.
Salary Information
$350k + |
1 |
$300k - $350k |
1 |
$250k - $300k |
2 |
$200k - $250k |
1 |
$160k - $200k |
3 |
$120k - $160k |
2 |
$80k - $120k |
0 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2023
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Comments & Contact
Comments added by the Charity:
Charity Contact
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