Surrey Hospital 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.
74%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 74 cents are available for programs.
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Programs
About Surrey Hospital Foundation:
Surrey Hospital Foundation (SHF) works to improve the quality of healthcare in British Columbia’s Fraser Valley area. It grants money to Surrey Memorial Hospital (SMH) and Jim Pattison Outpatient Care and Surgery Centre (JPOC). Grants fund equipment purchases, research and education, and improve patient comfort. In F2018, more than 237,500 patients visited the hospital and 21,240 surgeries were performed. SMH has the second busiest maternity ward in BC.
In F2018, Czorny Alzheimer Centre was donated to Surrey Hospital Foundation. Including the land and building, the centre was valued at $27.5m. The building has been granted to the Fraser Health Authority which will operate the centre. Up to 72 patients with Alzheimers can be housed at the care centre.
Excluding the Alzheimer Centre, SHF granted $2.8m to healthcare organizations such as the Fraser Health Authority which includes SMH and JPOC. Ronald McDonald House BC received $15,000 in each of F2018, F2017, and F2016. Ronald McDonald family rooms, kitchen, and lounge are located within Surrey Memorial Hospital, across from the NICU. Between 575 and 700 families use the Ronald McDonald spaces each year.
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Results and Impact
A ten-bed psychiatric stabilization unit for children and adolescents opened in 2017. By opening the unit, the waiting list for young people with urgent mental health issues was eliminated.
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Finances
Ci has adjusted the overhead ratios and program cost coverage to reflect financials without the Czorny Alzheimer Centre donation as it is an unusual donation for the foundation in terms of size and structure.
Surrey Hospital Foundation is a large charity, receiving $7.2m in donations during F2018, excluding the Czorny Alzheimer Centre. Administrative and fundraising costs are 26% of revenues less investment income. For every dollar donated, 74 cents go to the cause, which is within Ci’s reasonable range for overhead spending.
SHF has $21.2m in funding reserves of which $1.9m is donor-endowed. Excluding donor-endowed funds, the foundation could grant at the F2018 level for seven years using reserves.
This charity profile has been sent to Surrey Hospital Foundation for review. Changes and edits may be forthcoming.
Created on June 13, 2019 by Madison Kerr.
Financial Review
Fiscal year ending March
|
2018 | 2017 | 2016 |
|---|---|---|---|
| Fundraising & admin costs as % of revenues | 25.6% | 28.5% | 24.6% |
| Program cost coverage (%) | 769.4% | 222.7% | 957.9% |
Summary Financial StatementsAll figures in $000s |
2018 | 2017 | 2016 |
|---|---|---|---|
| Donations | 7,154 | 5,005 | 5,400 |
| Goods in kind | 27,500 | 0 | 0 |
| Investment income | 293 | 510 | 309 |
| Total revenues | 34,947 | 5,516 | 5,709 |
| Grants | 2,755 | 8,131 | 2,148 |
| Donor-designated donations | 25,400 | 0 | 0 |
| Fundraising & administrative costs | 1,834 | 1,427 | 1,327 |
| Total spending | 29,989 | 9,558 | 3,476 |
| Cash flow from operations | 4,958 | (4,042) | 2,233 |
| Funding reserves | 21,197 | 18,110 | 20,578 |
Note: The value of Czorny Alzheimer Centre has been removed from donations and presented as donated goods in kind. The value of the centre’s building has been removed from grants and presented in donor-designated grants. In line with Note 5 in the foundation’s financial statements, land has not been factored into grants.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
1 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
2 |
$80k - $120k |
3 |
$40k - $80k |
3 |
< $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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