VGH and UBC 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.
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 VGH and UBC Hospital Foundation:
VGH and UBC Hospital Foundation is a 3-star charity. It has an average results reporting grade of B. For every dollar donated, 81 cents are available to go towards the cause. Its reserve funds can cover seven years and six months of annual program costs.
Founded in 1980, VGH and UBC Hospital Foundation is the fundraising arm of Vancouver Coastal Health. It raises funds for Vancouver General Hospital (VGH), UBC Hospital, GF Strong Rehab Centre, Vancouver Coastal Health Research Institute, and Vancouver Community Health Services. VGH is the largest hospital and one of two Level 1 Trauma Centres in BC. In fiscal 2024 (year ended March), VGH and UBC Hospital Foundation granted $48.1m to Vancouver Coastal Health and $148k to Surrey Hospital Foundation and BC Cancer Foundation. The charity provides grants in four main areas: Equipment and Capital Projects, Research, Patient Care and Other, and Education.
In F2024, Equipment and Capital Projects was 37% of granting. In 2021, the Future of Surgery Campaign allowed for enhanced surgical spaces and new technology. The expansion led to 16 operating rooms and one hybrid operating room at Vancouver General Hospital. The campaign also funded two revitalized in-patient units and one high acuity unit at UBC Hospital.
In F2024, Research was 32% of granting. As of fall 2023, VGH and UBC Hospital Foundation reports having more than 70 active research projects within trauma services. The 2023 urology campaign had four new and 21 ongoing contract research and clinical trial agreements with pharma/biotech companies.
In F2024, Patient Care and Other was 29% of granting. VGH and UBC Hospital Foundation reports that over 30,000 surgeries are completed each year at Vancouver Coastal Health. At VGH, an average of 95,000 patients are seen in the emergency department each year.
In F2024, Education was 2% of granting.
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Results and Impact
VGH is the first site in North America to treat atrial fibrillation (irregular heartbeat) with the POLARx FIT cryoablation balloon catheter. The charity reports that this treatment is safer, more effective, and reduces the time required to perform surgery to approximately one hour.
In 2020, for the first time in medical history, the Brain Bolt was used on a cardiac arrest patient. The Brain Bolt is costly and requires special training as it involves inserting electrodes directly into the brain. After inserting the Brain Bolt catheters, the hospital immediately received the patient’s vital information from his brain allowing him to recover.
The GRASP exercise program provides a stroke patient with a specific series of physical movements and exercises that improve arm and hand movement recovery. The GRASP program has officially been adopted into Canada Stroke Best Practice guidelines.
While Ci highlights these key results, they may not be a complete representation of the charity’s results and impact.
This charity is not yet rated on impact (n/r).
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Finances
In F2024, VGH and UBC Hospital Foundation received $68.2m in donations, up 10% from $61.8m in F2023. Administrative costs are 15% of revenues (less investment income) and fundraising costs are 4% of donations (excluding related party transfers). For every dollar donated, 81 cents are available to go towards the cause. This is within Ci’s reasonable range for overhead spending. In F2024, VGH and UBC Hospital Foundation granted $48.3m which represents 40% of total revenues.
In F2024, VGH and UBC Hospital Foundation has $359.8m in its reserve funds. The current reserves can cover seven years and six months of annual granting.
Profile updated on August 13, 2024 by Abby Stout.
Financial Review
Fiscal year ending March
|
2024 | 2023 | 2022 |
|---|---|---|---|
| Administrative costs as % of revenues | 15.2% | 14.6% | 14.8% |
| Fundraising costs as % of donations | 4.1% | 3.2% | 3.0% |
| Total overhead spending | 19.3% | 17.8% | 17.8% |
| Program cost coverage (%) | 747.9% | 588.2% | 507.5% |
Summary Financial StatementsAll figures in $000s |
2024 | 2023 | 2022 |
|---|---|---|---|
| Donations | 68,227 | 61,758 | 52,101 |
| Goods in kind | 204 | 97 | 388 |
| Government funding | 0 | 0 | 472 |
| Lotteries (net) | 12,325 | 13,794 | 15,018 |
| Business activities (net) | 2,797 | 2,777 | 0 |
| Investment income | 31,870 | 11,115 | 20,849 |
| Other income | 5,427 | 3,631 | 6,830 |
| Total revenues | 120,850 | 93,171 | 95,657 |
| Grants | 48,104 | 51,892 | 54,810 |
| Donor-designated donations | 148 | 148 | 446 |
| Administrative costs | 13,538 | 11,985 | 11,051 |
| Fundraising costs | 2,800 | 1,960 | 1,563 |
| Total spending | 64,590 | 65,984 | 67,870 |
| Cash flow from operations | 56,260 | 27,187 | 27,787 |
| Capital spending | 543 | (644) | 100,465 |
| Funding reserves | 359,778 | 305,231 | 278,163 |
Note: LOTTERIES: Ci reported lotteries net of expenses, affecting revenue and expenses by ($16.8m) in F2024, ($16.3m) in F2023, and ($15.0m) in F2022. INVESTMENTS: Ci included changes in fair value of investments in investment income, affecting revenue by $12.9m in F2024, ($3.9m) in F2023, and ($2.1m) in F2022. GOVERNMENT FUNDING: Ci reported government funding in revenues, affecting revenues and expenses by $nil in F2024, $nil in F2023, and $472k in F2022. This funding was the Canada Emergency Wage Subsidy. BUSINESS ACTIVITIES: Ci reclassified net rental income on properties as business activities and removed the amounts from other income, affecting revenue and expenses by ($3.3m) in F2024, ($2.9m) in F2023, and $nil in F2022. GRANTS PAYABLE: To report on a cash basis, Ci adjusted grants by changes in amounts due to Vancouver Coastal Health. This affected expenses by ($3.3m) in F2024, ($1.4m) in F2023, and ($896k) in F2022. DEFERRED CONTRIBUTIONS: To report on a cash basis, Ci adjusted for deferred contributions affecting total revenues by $704k in F2024, $396k in F2023, and $nil in F2022. AMORTIZATION: Ci removed amortization from administrative costs.
Salary Information
$350k + |
1 |
$300k - $350k |
0 |
$250k - $300k |
1 |
$200k - $250k |
2 |
$160k - $200k |
3 |
$120k - $160k |
3 |
$80k - $120k |
0 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2023
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Comments & Contact
Comments added by the Charity:
Comment added August 23, 2024:
VGH & UBC Hospital Foundation does not publish a traditional annual report but rather focuses on more timely and regular donation outcomes updates as well as bespoke reporting.
Audited financial information and distributions can be found here:
https://vghfoundation.ca/about/audited-financials/
Specific accountability reports for major areas of interest and philanthropic support are provided on the Foundation website. The following are some recent examples:
Most Urgent Needs: https://vghfoundation.ca/impact/ Urology: https://vghfoundation.ca/urology/
Heart and Lung: https://vghfoundation.ca/themes/heart-lung/ Cancer: https://vghfoundation.ca/themes/cancer/
Long-Term Care: https://vghfoundation.ca/home-connections/
In addition to campaign specific accountability reports, the Foundation also publishes bi-weekly digital updates, which highlight recent innovations, stories of donor impact, and donor engagement initiatives. To sign up for these emails, visit here: https://vghfoundation.ca/latest/
The latest stories of impact, breaking news and in-depth articles are posted frequently on the Foundation’s website and social media channels.
The Foundation would be pleased to respond directly to any inquiries on our financial information. Please email info@vghfoundation.ca using the Subject Line: Financial Information Request
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 604-875-4676