Praxis Spinal Cord Institute is a 1-star charity. It has an B+ results reporting grade, which is above average. The charity’s fundraising costs for F2023 are 71% of donations, resulting in a 1-star rating. It has reserve funds to cover its annual program costs for five months.

Founded in 2010, Praxis Spinal Cord Institute (Praxis) aims to develop new technologies and treatments for people living with Spinal Cord Injury (SCI). In 2019, the Institute changed its name from the Rick Hansen Institute. The charity formed through the merging of SCI Solutions Alliance, Rick Hansen SCI Registry, and SCI Translational Research Network. Praxis reports that an estimated 86,000 people are living with SCI in Canada. Praxis’ vision is a world without paralysis after SCI. Praxis has three main programs: Research and Care, Commercialization, and Consumer Engagement.

Praxis spent $4.3m (59% of program spending) on Research and Care in the fiscal year ending March 2023 (F2023). This program helps to support and enable global SCI research. It coordinates research and develops standards. It also maintains international data and tissue banks for use in studies. In F2023, Praxis reports in its annual report that it distributed $2.1m in grant funding. This differs slightly from the $2.3m in grant funding that the charity reported on its T3010 filing with the CRA. Grant funding went to support and accelerate SCI research and best practice implementation. In F2023, 30 Canadian facilities participated in the Praxis-led Canadian National SCI Registry. The Registry tracks the experiences of people living with SCI. In F2023, Praxis reported 11,615 participants in the Registry. 1,445 people enrolled in the Registry in F2023. Since its founding, Praxis reports that 6,522 Canadians with SCI benefitted from the implementation of best practices.

Praxis spent $1.4m (20% of program spending) on Commercialization in F2023. Commercialization funds the development of technologies and products that make a difference in the daily lives of the SCI community. Since 2019, Praxis has provided 2,160 hours of one-on-one mentorship with small and medium enterprises (SMEs). It has provided $840k in funding to SMEs to advance innovations in SCI cure and care. 55 grad students have engaged in Ideation Clinic, an innovation development program. Praxis has trained 54 entrepreneurs through its Accelerator program. This six-month program helps health start-up companies launch products for people with SCI.

Praxis spent $357k (5% of program spending) on Consumer Engagement in F2023. This program is run by Praxis’ PLEX Team. PLEX stands for persons with lived experience. The PLEX Team brings together people with lived experience of SCI. It ensures that new discoveries reach the SCI community.

Praxis spent $1.2m (16% of program spending) on Informatics in F2023. Ci could not find any information on Informatics. Ci assumes Informatics is a supporting service for the charity’s main programs.

In F2023, Praxis Spinal Cord Institute received $149k in donations. It also received $8.4m in government funding (93% of total revenue). Administrative costs are 5% of total revenue (excluding investment income) and fundraising costs are 71% of donations. Overhead spending is 76%, which is outside Ci’s reasonable range. For every dollar donated, 24 cents are available for the cause. In F2023 Praxis spent $7.2m on its programs and grants (80% of total revenue).

In F2023, Praxis had a surplus of $1.2m and spent $29k on capital expenditures.

At the end of F2023, Praxis has $3.3m in reserve funds. This is enough to cover 45% or five months of its annual program costs.

This charity profile is an update that was sent to Praxis Spinal Cord Institute for review. Changes and edits may be forthcoming.

Updated on July 29, 2024 by Thea Clark.