Milton District Hospital Foundation
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
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.
83%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 83 cents are available for programs.
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OVERVIEW
About Milton District Hospital Foundation:
Milton District Hospital Foundation is a 1-star charity, with reasonable overhead spending and a below average results reporting grade. Its audited financial statements are available only upon request. Its funding reserves can cover 43 years of average grants over the past three years.
Founded in 1980, Milton District Hospital Foundation (MDHF) raises money to fund equipment, renovation, and construction at Milton District Hospital (MDH). Following MDHF’s $30m campaign, in June 2015 works began to renovate the hospital. On October 1, 2017, the 330,000 square foot expansion of the hospital opened its doors to patients. Renovations included an expanded maternal newborn unit, a new surgical service department, new medical and surgical inpatient units, a new emergency department, and a new diagnostic imaging department.
MDHF raises funds for equipment for the following areas of care: Emergency Care, Maternal and Newborns Care, Diagnostic Imaging, Surgical Care and ICU and Inpatient Care. The charity does not provide a spending breakdown for its programs.
In F2022 the charity reports that MDH received 48,304 ER visits. Doctors at the hospital helped deliver 1,417 babies, conducted 40,316 X-ray scans and 2,891 MRI scans, and performed 7,094 surgeries. The ICU has 10 beds to care for patients in critical conditions, and in F2022 MDHF helped buy three new defibrillators. The foundation also helped fund a new medication fridge for the Inpatient Pharmacy.
Milton District Hospital Foundation received $5m in donations in F2022 and disbursed $181k (including donor-designated donations) to the hospital. This means that less than 4% of donations went to the hospital in F2022.
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Results and Impact
Charity Intelligence found Milton District Hospital Foundation reported many stories but little data on its work.
This charity is not yet rated on impact (n/r)
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Finances
Milton District Hospital Foundation received $5.0m in donations in F2022. Its administrative and fundraising costs are 17% of revenues. This results in total overhead spending of 17%. For every dollar donated, 83 cents go to the cause, falling within Ci’s reasonable range for overhead spending.
In F2022, the charity had $17.1m in reserve funds. These are MDHF’s cash and investments. The charity can cover 112 years of F2022 program costs or 42.5 years of average program costs over the past three years with its current reserves. The program cost coverage increased by 925% in F2022 primarily due to an 85% reduction in grants dispersed.
MDHF’s funding reserves earned investment income of $240k in F2022. This represents an annual return on investment of 4%. As of F2022, the foundation holds its investments in stocks (31%) and bonds (68%).
This charity report is an update that has been sent to Milton District Hospital Foundation for review. Changes and edits may be forthcoming.
Updated June 15, 2023 by Alessandra Castino.
Financial Review
Fiscal year ending March
|
2022 | 2021 | 2020 |
---|---|---|---|
Fundraising & admin costs as % of revenues | 17.2% | 18.2% | 10.5% |
Total overhead spending | 17.2% | 18.2% | 10.5% |
Program cost coverage (%) | 11,225.7% | 1,094.7% | 433.7% |
Summary Financial StatementsAll figures in $000s |
2022 | 2021 | 2020 |
---|---|---|---|
Donations | 5,005 | 4,583 | 9,164 |
Government funding | 5 | 11 | 4 |
Investment income | 240 | 826 | (93) |
Total revenues | 5,250 | 5,419 | 9,075 |
Grants | 152 | 1,180 | 2,191 |
Donor-designated donations | 29 | 8 | 1 |
Fundraising & administrative costs | 864 | 836 | 966 |
Total spending | 1,046 | 2,024 | 3,158 |
Cash flow from operations | 4,204 | 3,395 | 5,917 |
Capital spending | 0 | 0 | 0 |
Funding reserves | 17,106 | 12,919 | 9,503 |
Note: Ci adjusted for deferred donations, affecting total revenues by $67k in F2022, ($93k) in F2021 and ($6k) in F2020. Ci adjusted for grants disbursements that Milton District Hospital Foundation owes to Halton Health Services Corporation. This affected grants by ($30k) in F2022, $17k in F2021 and ($2k) in F2020.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
1 |
$120k - $160k |
0 |
$80k - $120k |
1 |
$40k - $80k |
4 |
< $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
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