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.
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.
69%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 69 cents are available for programs.
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Programs
About BC Cancer Foundation:
Founded in 1967, BC Cancer Foundation (BCCF) raises money for BC Cancer Agency. The foundation funds research, patient care, and major equipment purchases. BC Cancer Foundation reports distributing $33.3 million in grants in F2019, which includes $4.8 million in deferred grants paid from the prior year. 70% of grants went towards research and education, 25% towards equipment, and 5% towards patient care. The money funded six BC Cancer Centres in Kelowna, Abbotsford, Vancouver, Victoria, Surrey, and Prince George.
BC Cancer Foundation funded over 342 researchers in F2019. Researchers at BC Cancer – Victoria are working on a new oncogene-targeted T cell therapy to improve health outcomes for lymphoid cancer patients at risk of relapse. Launched in 2018, Enhanced Pancreatic Cancer Profiling for Individualized Care is a Canada-wide research initiative on pancreatic cancer biology that sequences pancreatic tumors to develop new treatment options. BC Cancer’s flagship study in precision medicine, called Personalized Onco-Genomics (POG), looks at genomes of metastatic cancer patients to find cancer-driving genetic markers and identify individualized treatment options. As of September 2017, over 900 people are enrolled in POG, 50 types of cancer have been studied, and of cases completed to-date, 79% have produced useful information for planning tailored treatment plans.
BCCF’s major equipment purchases in 2019 were two new PET/CT scanners for BC Cancer – Kelowna and BC Cancer – Victoria. PET/CT scanners save patients from unnecessary radiation, surgery, imaging tests and biopsies. Prior to these purchases, there were only two PET/CT scanners operating in BC (both at BC Cancer – Vancouver). The charity is currently fundraising to replace one of the existing scanners in Vancouver.
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Results and Impact
BC Cancer Foundation-funded researchers contributed to 524 research publications in F2019. In its F2019 impact report, The Foundation announced approval of one new cancer drug that targets 22 types of cancer. The drug’s development stems from the 1998 discovery of a gene mutation (ETV6-NTRK3) that drives connective tissue cancers. In clinical trials, the drug shrank tumors in 76% of patients to varying degrees – tumors disappeared in some and stabilized in others. The drug, named larotrectinib, is FDA-approved and licensed by Bayer Pharmaceuticals.
In June 2019, BC Cancer researchers published a paper in New England Journal of Medicine demonstrating how a modification to traditional treatment for metastatic prostate cancer led to a 52% reduction in risk of cancer progression and a 33% improvement in overall patient survival. The news release can be found here.
BC Cancer – Kelowna cured 75 breast cancer patients using a new brachytherapy technique that delivers radiation treatment internally using 'seed' implants, as opposed to traditional external radiation. The report can be found here. The foundation states that BC Cancer – Kelowna is a national leader in this specialized form of radiation treatment.
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Finances
BC Cancer Foundation is a Major 100 charity with $56.1m in donations and special events fundraising in F2019. In its F2019 annual report, the charity notes that it received one of the largest donations to cancer in Canadian history – $18.3m from an anonymous donor through Aqueduct Foundation. Administrative costs are 6% of revenues (exlcuding investment income) and fundraising costs are 25% of donations and fundraising. Per dollar donated to BCCF, 69 cents go towards grants to BC Cancer Agency, which falls within Ci’s reasonable range for overhead spending.
Funding reserves of $163.8m include $59.5m in endowed funds. BC Cancer Foundation does not specify how much of these funds are donor-endowed. Including all endowed funds, BCCF can cover annual grants to BC Cancer Agency for 5.7 years.
BC Cancer Foundation reported using external fundraisers in its most recent 2018 T3010 CRA filing. In F2018, BCCF paid $1m to external fundraisers that raised $2.5m. This produces an external fundraising ratio of 41% – BCCF received 59 cents of every dollar donated to external fundraisers.
Fundraising revenues per full-time staff member were $721k in F2018. With an average full-time salary of $93k, each dollar paid in compensation brought in $8 of fundraising.
This charity report is an update that has been sent to BC Cancer Foundation for review. Comments and edits may be forthcoming.
Updated on July 8, 2019 by Katie Khodawandi.
Financial Review
Fiscal year ending March
|
2019 | 2018 | 2017 |
|---|---|---|---|
| Administrative costs as % of revenues | 5.7% | 5.8% | 5.8% |
| Fundraising costs as % of donations | 25.2% | 25.8% | 27.9% |
| Program cost coverage (%) | 574.1% | 554.3% | 387.0% |
Summary Financial StatementsAll figures in $000s |
2019 | 2018 | 2017 |
|---|---|---|---|
| Donations | 43,487 | 39,020 | 35,860 |
| Special events | 12,661 | 10,722 | 9,205 |
| Investment income | 6,086 | 4,789 | 4,834 |
| Other income | 1,487 | 703 | 1,854 |
| Total revenues | 63,721 | 55,234 | 51,753 |
| Grants | 28,532 | 26,348 | 34,560 |
| Administrative costs | 3,259 | 2,921 | 2,731 |
| Fundraising costs | 14,159 | 12,835 | 12,590 |
| Cash flow from operations | 17,771 | 13,130 | 1,872 |
| Capital spending | 0 | 0 | 0 |
| Funding reserves | 163,810 | 146,035 | 133,730 |
Note: Ci reported community awareness expenses in fundraising costs, increasing fundraising by $1.5m in F2019, $1.5m in F2018, and $1.5m in F2017. Ci adjusted for changes in amounts payable to BC Cancer, affecting grants by ($4.8m) in F2019, $721k in F2018, and $6.3m in F2017. Ci backed out amortization ($1k in F2019, $3k in F2018, and $27k in F2017) from administrative costs. Ci reported funds held at Vancouver Foundation at fair value in funding reserves.
Salary Information
$350k + |
1 |
$300k - $350k |
1 |
$250k - $300k |
0 |
$200k - $250k |
1 |
$160k - $200k |
3 |
$120k - $160k |
4 |
$80k - $120k |
0 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2018
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Comments & Contact
Comments added by the Charity:
Charity Contact
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