Cedars 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.
65%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 65 cents are available for programs.
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OVERVIEW
About Cedars Cancer Foundation:
Cedars Cancer Foundation is a 2-star, financially transparent charity. Its results reporting score is C, which is below average. Its overhead spending is outside Ci’s reasonable range. Its reserve funds can cover two years and five months of annual program costs.
Founded in 1966, Cedars Cancer Foundation (CCF) became a registered charity in 2008. CCF fundraises for McGill University Health Centre (MUHC). Its mission is to raise money that will go towards cancer care and research. It grants donations to patient support, research, and education. The charity notes that cancer rates will increase due to an ageing population. As individuals are also living longer, prolonged treatment will strain healthcare systems.
The charity grants money towards four main programs: Patient Care, Research, Best Care for Life, and Education.
Patient Care was 35% of spending in F2023. The charity helped finance 489,105 medical imaging procedures; 539,891 ambulance visits; and 23,697 radiation-oncology treatments. In addition, CCF supports programs for adolescent and young adult cancer patients. It also supports cancer patients under financial stress. In F2023, 76 patients received cheques, gift cards, or grocery baskets.
Research was 32% of spending in F2023. Cedars Cancer Foundation funds basic, clinical, and evaluative cancer research at the MUHC Research Institute.
The Best Care for Life (BCFL) campaign was 21% of spending in F2023. BCFL was a partnership between CCF and other foundations that support MUHC. It started in 2005 with the goal of raising $300 million to finance major capital projects and renovations. Notably, these included a land purchase and construction of the Montreal super hospital. The campaign finished in 2016.
Education was 12% of spending in F2023. Grants supported visiting professors to MUHC, fellowships, and public lectures. It also created educational resources. In F2023, the charity reported creating five educational videos with 15,870 views. These covered topics such as COVID-19, cancer, and chemotherapy.
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Results and Impact
Charity Intelligence could not find any quantifiable outcomes from CCF’s publicly available information. This charity is not yet rated on impact (n/r).
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Finances
Cedars Cancer Foundation received $8.7m in donations and special event revenues in F2023. Administrative costs are 15% of revenues. Fundraising costs are 20% of donations. Total overhead costs are 35%. For every dollar donated, 65 cents are available to go to the cause. This is outside Ci’s reasonable range for overhead spending.
CCF has $15.4m in funding reserves. These include $4.1m in donor-endowed funds. Excluding these funds, its reserves could cover two years and five months of annual program costs.
Cedars Cancer Foundation uses external fundraisers. CCF paid external fundraisers $31k to raise $145k. The cost of raising each dollar is 21 cents.
Charity Intelligence has sent this update to Cedars Cancer Foundation for review. Changes and edits may be forthcoming.
Updated on June 10, 2024 by Stellar Zhang.
Financial Review
Fiscal year ending March
|
2023 | 2022 | 2021 |
|---|---|---|---|
| Administrative costs as % of revenues | 14.9% | 14.2% | 0.0% |
| Fundraising costs as % of donations | 20.1% | 14.0% | 0.0% |
| Fundraising & admin costs as % of revenues | 0.0% | 0.0% | 30.1% |
| Total overhead spending | 35.1% | 28.2% | 30.1% |
| Program cost coverage (%) | 244.7% | 352.6% | 297.5% |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
|---|---|---|---|
| Donations | 4,435 | 4,406 | 3,021 |
| Government funding | 0 | 0 | 258 |
| Special events | 4,303 | 2,587 | 1,928 |
| Investment income | (30) | (353) | 2,980 |
| Total revenues | 8,708 | 6,640 | 8,187 |
| Grants | 4,830 | 3,342 | 3,775 |
| Administrative costs | 1,305 | 992 | 0 |
| Fundraising costs | 1,759 | 978 | 0 |
| Fundraising & administrative costs | 0 | 0 | 1,569 |
| Other costs | 0 | 0 | 23 |
| Total spending | 7,894 | 5,312 | 5,368 |
| Cash flow from operations | 814 | 1,328 | 2,819 |
| Capital spending | 0 | 0 | 0 |
| Funding reserves | 15,403 | 14,968 | 14,646 |
Note: Ci included distributions in the calculation of expenses, affecting expenses by $4.8m in F2023, $3.3m in F2022, and $3.7m in F2021. In its F2023 audited financial statements, the charity began reporting its fundraising and administrative costs separately. The charity appears to have made an error in its T3010 information. It has only reported nine of the ten highest-paid staff in its compensation information in its F2023 filing.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
1 |
$160k - $200k |
0 |
$120k - $160k |
0 |
$80k - $120k |
2 |
$40k - $80k |
6 |
< $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
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 514-656-6662