Royal Alexandra 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.
50%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 50 cents are available for programs.
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OVERVIEW
About Royal Alexandra Hospital Foundation:
Royal Alexandra Hospital Foundation is a 3-star, financially transparent charity. Its results reporting score is B+, which is above average. Its reserve funds can cover three years and eleven months of annual program costs. However, its overhead spending is well outside Ci’s reasonable range.
Founded in 1984, Royal Alexandra Hospital Foundation (RAHF) raises money for the Royal Alexandra Hospital (the Hospital) and its three centres: Lois Hole Hospital for Women, CK Hui Heart Centre, and the Eye Institute of Alberta. RAHF reports that the Hospital sees 500,000 patients per year. In F2024, RAHF distributed $9.8m in grants, down 9% from $10.7m in F2023.
In F2023, RAHF distributed $10.7m in grants. The following results refer to F2023, which is the date of the charity’s most recent annual report. The financial analysis refers to F2024.
Programs were 50% of grants in F2023 ($5.4m). The Hospital saw 58,398 ambulatory clinic visits and 11,302 visits for heart diseases. It also had 3,305 inpatient admissions for its Coronary Intensive Care Unit, 24,250 visits to its eye clinic, and 6,650 visits to its emergency room.
Equipment was 26% of grants in F2023 ($2.8m). The Hospital purchased a new Da Vinci robotic surgery system, with which it performed 378 minimally invasive surgeries.
Research was 23% of grants in F2023 ($2.5m). It funded 54 projects, 34 trainees, and four endowed research chairs. It also released one research report surveying 2,200 Albertan women about their healthcare needs.
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Results and Impact
In F2023, the Alberta Women’s Health Foundation at the Hospital released a report about women’s specific healthcare needs. This report was recognized by Premier Danielle Smith of Alberta and resulted in a $10.0m grant to further research in women’s health.
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, Royal Alexandra Hospital Foundation received $9.3m in donations. It also received $4.3m in net lottery revenue, representing 23% of total revenue. Administrative costs were 9% of revenues, less investment income. Fundraising costs were 41% of donations. Total overhead spending was 50%. For every dollar donated, 50 cents are available to go to the cause. This is well outside Ci’s reasonable range for overhead spending.
In F2024, RAHF had $54.9m in funding reserves. Included in these is $21.1m in donor-endowed funds. Excluding these funds, its reserves can cover three years and eleven months of annual program costs.
This charity report is an update that has been sent to Royal Alexandra Hospital Foundation for review. Changes and edits may be forthcoming.
Updated on August 20, 2024 by Stellar Zhang.
Financial Review
Fiscal year ending March
|
2024 | 2023 | 2022 |
|---|---|---|---|
| Administrative costs as % of revenues | 9.0% | 9.0% | 10.1% |
| Fundraising costs as % of donations | 40.6% | 40.0% | 43.6% |
| Total overhead spending | 49.6% | 49.0% | 53.7% |
| Program cost coverage (%) | 387.9% | 316.1% | 326.6% |
Summary Financial StatementsAll figures in $000s |
2024 | 2023 | 2022 |
|---|---|---|---|
| Donations | 9,269 | 8,297 | 7,263 |
| Government funding | 7 | 1,198 | (102) |
| Lotteries (net) | 4,332 | 3,029 | 4,755 |
| Investment income | 4,704 | (200) | 2,042 |
| Other income | 408 | 19 | 40 |
| Total revenues | 18,719 | 12,344 | 13,997 |
| Grants | 9,768 | 10,695 | 11,121 |
| Administrative costs | 1,265 | 1,131 | 1,211 |
| Fundraising costs | 3,765 | 3,316 | 3,164 |
| Total spending | 14,798 | 15,143 | 15,497 |
| Cash flow from operations | 3,921 | (2,799) | (1,499) |
| Capital spending | 0 | 0 | 0 |
| Funding reserves | 54,892 | 50,842 | 53,248 |
Note: Ci reported government funding from the charity’s T3010 filing with the CRA for F2023 and F2022, but not for F2024 because the filing was not yet available at the time of this report. Ci included unrealized gains (loss) within investment revenue, affecting it by $2.5m in F2024, ($2.3m) in F2023, and $1.5m in F2022. Ci reduced lottery revenue by associated expenses to report lotteries net, affecting revenue and expenses by $7.7m in F2024, $7.8m in F2023, and $6.8m in F2022. Ci included grants within expenses, increasing it by $9.8m in F2024, $10.7m in F2023, $11.1m in F2022.
Salary Information
$350k + |
0 |
$300k - $350k |
1 |
$250k - $300k |
1 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
2 |
$80k - $120k |
6 |
$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:
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 780-735-4723