Victoria Hospitals 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.
A-
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.
68%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 68 cents are available for programs.
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OVERVIEW
About Victoria Hospitals Foundation:
Victoria Hospitals Foundation is a 3-star charity. It has a A- Results Reporting grade which is above average. Its overhead spending is within Ci’s reasonable range. The charity’s reserves can cover program costs for three years and three months, which is outside Ci’s reasonable range.
Founded in 1967, Victoria Hospitals Foundation (VHF) raises money for Royal Jubilee and Victoria General hospitals in Victoria. It funds four programs: Equipment, Research, Education, and Special Projects. The charity spent $9.3m on its programs in the fiscal year ending in March (F2024).
Equipment received 88% ($8.2m) of program spending in F2024. In F2024, the charity funded the purchase of 170 pieces of equipment at the two hospitals including ten patient monitors, one ventilator, one ultrasound, and three ultrasound probes for heart surgery.
Research received 7% ($650k) of program spending in F2024. The charity grants money for research projects focusing on topics such as dementia care, heart disease, and spasticity. In F2024, VHF funded nine research projects and 20 researchers.
Education received 3% ($278k) of program spending in F2024. The program gives money to fund educational opportunities for healthcare workers. The charity funded 353 care workers’ education in F2024.
Special Projects received 2% ($186k) of program spending in F2024. It includes priorities that are not part of the other programs.
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Results and Impact
Dr. Winston’s research is funded by VHF. He invented the surgical technique cryoneurotomy to help people with spasticity. The surgery applies very cold temperatures to the nerves which leads to improved muscle function. While Ci highlights these results, they may not completely represent Victoria Hospitals Foundation’s results and impact.
VHF is not yet rated on impact. This shows as n/r and does not affect the star rating.
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Finances
Victoria Hospitals Foundation received $11.2m in donations, which is 60% of revenue in F2024. The charity made $2.8m in investment income.
VHF granted $9.3m to the hospitals in Victoria, which is 49% of revenue. It ran a surplus of $5.4m (29% of revenue). The charity spent $2.7m on fundraising, which is 24% of donations. VHF's management has indicated its fundraising costs include some lottery costs. VHF's lottery costs only disclose the cost of prizes (see Financial Note 6 in the audited financial statements). Best practice in disclosure is for lottery costs to be complete. This lack of disclosure could lead to a higher fundraising cost. VHF spent $1.3m on administration, which is 8% of revenue (less investment income). For every dollar donated to the charity, 68 cents are available to go to the cause. This is within Ci’s reasonable range.
VHF has reserve funds of $30.4m which are comprised of its cash and investments ($24.8 million in 2023). These reserve funds include donor-endowed funds of $250k are donor endowed, ($250k in 2023, $250k in 2022). The charity has outstanding commitments to grant $12.3m to the hospitals, which rose by $444k from 2023. The charity’s reserves can cover program costs for three years and three months. This is outside Ci’s reasonable range.
VHF had investment returns of 12% in F2024, greater than the past five year average of 6%.
Updated on June 11, 2025 by Joshua Leduc. This update has been sent to the charity and changes may be forthcoming.
Financial Review
Fiscal year ending March
|
2024 | 2023 | 2022 |
|---|---|---|---|
| Administrative costs as % of revenues | 8.3% | 9.0% | 6.0% |
| Fundraising costs as % of donations | 24.1% | 23.9% | 12.9% |
| Total overhead spending | 32.4% | 32.9% | 18.9% |
| Program cost coverage (%) | 325.7% | 224.8% | 241.0% |
Summary Financial StatementsAll figures in $000s |
2024 | 2023 | 2022 |
|---|---|---|---|
| Donations | 11,247 | 9,917 | 14,046 |
| Goods in kind | 2,492 | 1,473 | 2,454 |
| Lotteries (net) | 1,675 | 1,548 | 1,417 |
| Investment income | 2,783 | (130) | 1,049 |
| Other income | 551 | 464 | 233 |
| Total revenues | 18,748 | 13,273 | 19,200 |
| Grants | 9,279 | 10,945 | 10,920 |
| Administrative costs | 1,325 | 1,206 | 1,090 |
| Fundraising costs | 2,715 | 2,374 | 1,815 |
| Total spending | 13,319 | 14,525 | 13,826 |
| Cash flow from operations | 5,429 | (1,252) | 5,375 |
| Capital spending | 0 | 0 | 0 |
| Funding reserves | 30,435 | 24,824 | 26,539 |
Note: 1. Ci included unrealized gains and investment management fees which affected investment income by $1.5m in F2024, ($1.1m) in F2023, and ($118k) in F2022. 2. Ci adjusted for grants payable which affected grants by ($843k) in F2024, $89k in F2023, and $447k in F2022.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
1 |
$160k - $200k |
1 |
$120k - $160k |
1 |
$80k - $120k |
7 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2024
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Comments & Contact
Comments added by the Charity:
The Victoria Hospitals Foundation is a leading philanthropic organization that brings together donors, caregivers, volunteers, and the community to elevate care at Royal Jubilee (RJH) and Victoria General (VGH) hospitals. As a charitable partner of Island Health, we raise funds to invest in priority and best-in-class medical equipment, caregiver education, research, special projects, and caregiver recognition.
In 2024-25, more than $24 million was raised from over 5,600 donors to bring innovation to the forefront of patient care in our acute centres. Since 1989, the Foundation has raised over $233 million to benefit Vancouver Island’s acute care hospitals, which serve the region’s 930,000+ residents.
This past year, alongside 5,600 donors, 150 volunteers, and visionary leaders in care, we set new standards for RJH and VGH. Together, we turned bold ambition into life-changing breakthroughs, transforming care for every Vancouver Islander who depends on our acute centres.
We believe philanthropy redefines what is possible. In the past year alone:
Beyond our major campaigns, our donors funded 252 pieces of medical equipment and technology last year, including:
Our donors also invested in the people behind the care:
These milestones and more will be featured in our upcoming Annual Report, available on our website on September 3, 2025.
Our audited financial statements will also be posted online by October 31, 2025. As careful stewards of donor contributions, we are committed to supporting vital projects funded by our generous supporters. Funds are disbursed to Island Health as expenses arise, with timelines varying according to healthcare system requirements. We remain deeply accountable to our donors, ensuring every dollar is used as intended and consistently upholding the trust they place in us—an essential value at the heart of our organization.
We invite you to learn more about the Victoria Hospitals Foundation and how you can make a difference, by contacting us at 250-519-1750 or visiting our website at www.victoriahf.ca
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 250-519-1750