UHN Foundation is committed to maintaining fully accountable and transparent cost-per-dollar-raised ratios. By tightly controlling direct and general fundraising, as well as administrative expenses, we maximize the proportion of donor contributions that go to research, innovation and patient care. Transparency is at the heart of our success as a foundation, and the cornerstone of our approach to donor relationships. Our financial statements display our strong results in the areas of fundraising, cost effectiveness and grants to support University Health Network. We encourage you to access our audited financial statements and to access our Charity Information Return filed with the Canada Revenue Agency (Form T3010A), which is available on the Canada Revenue Agency website.

The investment approach for endowments has always been to manage the endowment fund with a long-term outlook, designed to ensure a consistent stream of income for fundholders. Therefore, a balanced investment strategy has been adopted which involves investment in publicly traded stocks and bonds. The Investment Committee of the Foundation’s Board of Directors establishes the return and risk parameters for the Foundation’s endowment funds, and is responsible for the selection of professional investment managers and the monitoring of their performance. Membership of the Committee includes leaders in the Canadian investment community.

The Foundation’s strong ‘cushion’ of protection of $94M at year-end is the result of our deliberate long-term approach of reinvesting all investment returns in excess of the annual payout and administration fee, currently at 3.5% and 1.5% respectively. This cushion exists to mitigate the impact of market volatility so that our fundholders can rely on a steady stream of income on an annual basis.

With all investments, there is an element of risk, and the Foundation has always endeavoured to manage the endowment funds judiciously. The Foundation will continue to monitor and review investment and payout policies in the context of the economic climate and the needs of UHN.

* 2021 figures have been adjusted to include Toronto Rehab Foundation