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.
81%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 81 cents are available for programs.
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OVERVIEW
About BC Cancer Foundation:
BC Cancer Foundation is a 3-star rated charity with an average results reporting grade. The charity is financially transparent and has reserve funds that can cover almost ten years of annual program costs.
Founded in 1935, BC Cancer Foundation (BCCF) raises money for BC Cancer. BC Cancer runs six regional cancer centres in Abbotsford, Kelowna, Prince George, Surrey, Vancouver, and Victoria. These centres provide the full spectrum of cancer care to people living in BC, including prevention, diagnosis, treatment, and palliative care. BC Cancer also conducts cancer research.
BCCF dispersed $44.3m in grants to BC Cancer in F2023. When taking into account deferred grants to be paid in future years, BCCF granted $41.8m in F2023. The Foundation’s grants fund research, patient care, and major equipment purchases.
Research and Education accounted for 69% of program spending in F2023. In F2023, BCCF funded a study involving 33 patients suffering from aggressive prostate cancer. The study focused on the DNA left in the bloodstream by metastatic cancers. The analysis of the DNA allows doctors to gather data specific to the patient’s unique type of cancer, leading to more personalized treatment plans. Additionally, BCCF funded the beginning of a new clinical trial. The trial plans to use a mixture of Stereotactic Ablative Radiotherapy (SABR) and immunotherapy to treat early-stage lung cancer. The clinical trial is at its early stages; it will last four years and involve almost 100 patients. In F2023, BCCF also started the Rising Stars program, a program which awards scholarships to BIPOC and women researchers. In F2023, Rising Stars awarded 10 scholarships.
Enhancements to Patient Care represented 28% of grants. In F2023 BC Cancer started the Lung Screening Program, providing access to lung screening to high-risk individuals. High risk individuals include those who smoke or have a smoking history, or people between the ages of 55 and 74. The program is available on 36 sites throughout British Columbia. In F2023 BCCF also funded a new Supportive Care Clinic in the Vancouver region. The clinic focuses on the mental health of cancer patients, providing individual and family counselling services. It has 14 private counselling rooms, six phone rooms and two meeting rooms.
The remaining 3% of grants in F2023 were for equipment.
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Results and Impact
One of the areas of research that BC Cancer Foundation focuses on is ovarian cancer. Dr Mark Carey and his team have specifically been focusing on low-grade serous ovarian cancer, a rare type of ovarian cancer that is often untreatable. In a study funded by BCCF involving over 150 patients, Dr Carey and his collaborators found that 40% of patients had cancers with high levels of the protein FOLR1. Previous research found that the drug Mirvetuximab (MIRV) is most effective against cancers with high levels of FOLR1. Hence, based on Dr Carey's results, MIRV is being tested by the International Consortium for Low-Grade Serous Ovarian Cancer (ICLC) specifically to treat low-grade serous ovarian cancer.
While Ci highlights these key results, they may not be a complete representation of BC Cancer Foundation's results and impact. This charity is not yet rated on impact (n/r).
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Finances
BC Cancer Foundation is a Major 100 charity, meaning it is one of the country’s largest in terms of Canadian donations. It received $63.5 m in donations and special events fundraising in F2023. Administrative costs are 3% of revenues (excluding investment income), and fundraising costs are 16% of donations and special events fundraising. This results in an overhead spending of 19%. For every dollar donated, 81 cents go to the cause. This is within Ci’s reasonable range for overhead spending.
In F2023, BCCF had $407.3m in reserve funds, a 69% increase from F2022 ($241.6m in F2022). Reserve funds are the charity’s cash and investments and include $104.5m in endowments. BCCF does not disclose donor-endowed separate from board-endowed funds. As such, no deduction for endowments is made to funding reserves. Including all endowed funds, the Foundation’s reserves can cover annual granting activities at current levels for 9.7 years.
BC Cancer Foundation reports using external fundraisers as part of its fundraising efforts in its most recent F2022 T3010 filing. In F2022 BCCF paid external fundraisers $1.1m million. These external fundraisers raised $3.0 million in donations. This means it costs BCCF $0.38 to raise $1 using external fundraisers.
This report is an update that has been sent to BC Cancer Foundation for review. Comments and edits may be forthcoming.
Updated on July 4, 2023 by Alessandra Castino.
Financial Review
Fiscal year ending March
|
2023 | 2022 | 2021 |
---|---|---|---|
Administrative costs as % of revenues | 2.9% | 7.5% | 10.1% |
Fundraising costs as % of donations | 15.7% | 13.4% | 18.6% |
Total overhead spending | 18.7% | 20.9% | 28.7% |
Program cost coverage (%) | 974.0% | 948.3% | 681.1% |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
---|---|---|---|
Donations | 56,198 | 55,047 | 39,067 |
Government funding | 150,000 | 4,196 | 1,445 |
Special events | 7,296 | 6,238 | 3,225 |
Investment income | 3,666 | 8,568 | 44,973 |
Other income | 1,030 | 2,699 | 820 |
Total revenues | 218,190 | 76,748 | 89,530 |
Grants | 41,814 | 25,478 | 29,851 |
Administrative costs | 6,315 | 5,121 | 4,520 |
Fundraising costs | 9,975 | 8,199 | 7,854 |
Total spending | 58,104 | 38,798 | 42,225 |
Cash flow from operations | 160,086 | 37,950 | 47,305 |
Capital spending | 0 | 0 | 0 |
Funding reserves | 407,267 | 241,597 | 203,320 |
Note: Ci adjusted grants for changes in accounts payable to BC Cancer, affecting total expenses by ($2.5m) in F2023, ($133k) in F2022, and $1.0m in F2021. Investment income includes the value of unrealized gain (loss) affecting total revenue by ($4.0m) in F2023, ($330k) in F2022, and $19.5m in F2021. Ci adjusted for fair value adjustments on assets affecting revenue and expenses by ($4.1m) in F2023, $14k in F2022, $19.7m in F2021. The F2023 T3010 data was not available at the time of this update.
Salary Information
$350k + |
1 |
$300k - $350k |
1 |
$250k - $300k |
1 |
$200k - $250k |
1 |
$160k - $200k |
5 |
$120k - $160k |
1 |
$80k - $120k |
0 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2022
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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: 604-877-6040