Annual Report 2016-17

A Message from our Leaders

"We have great capacity, and even greater potential to shape the future of children's health care, here at SickKids and beyond."
Our leaders reflect on the past year and look to what the future holds for SickKids. Read their full messages.

SickKids VS What's Next

Sickkids VS whats next

As Canada celebrates its 150th anniversary, we look back on a year of extraordinary progress. The following stories demonstrate transformative advances in genomics, health systems and patient care at SickKids that are paving the way for the future of children's health.

A journey far from home

Peyton travelled from Northern Ontario to get the specialized care she needed for her failing heart. With determination and strength, Peyton and her medical team from The Labatt Family Heart Centre at SickKids worked hard to prepare for a lifesaving heart transplant. With a new heart and lots of rehab, Peyton is getting back to her regular job of just being a kid.

Transforming care for kids

SickKids is joining together with partners to help shape the future of health care for kids. The goal? To help ensure that patients and families have better health-care experiences, and ultimately, better care.

An inside look at SickKids operating rooms

To provide state-of-the-art care, SickKids needs state-of-the-art facilities. SickKids kid Ella learns about the operating suites at SickKids from Dr. Christopher Forrest, Chief of the Division of Plastic Surgery. Thanks to the generous support of all donors, including monthly donors like Catherine Paul, we're working to improve outdated operating rooms.

Novel test improves diagnosis

Building on recent breakthroughs in paediatric cancer research, a SickKids team has developed and is now offering an innovative test that makes it easier to quickly and accurately diagnose some of the most common childhood cancers. The new test is already having a worldwide clinical impact.

Advancing Genomics Research

As a gift for Canada 150, SickKids researchers sequenced the genome of the iconic Canadian beaver. Thanks to the support of research partners, funders and donors like Ken Lipson, this project is helping advance genomics research to improve our understanding of human conditions like autism.

Sickkids Versus the Everyday

From birthdays to first steps, SickKids is often the backdrop to our patients' and families' lives. In this section, we celebrate the everyday moments - big and small - of the children, families, staff and volunteers who make up the fabric of life at SickKids. Follow us on social media to catch more of our everyday moments as they happen!

Birthday Cake
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By The Numbers

Total Staff and Volunteers: 10,853

Clinical Care

The following is a series of graphs in jpg format, the data in table format is contained in the next section. Skip to Finachial Data Tables

Financials

Hospital Financials

Hospital financial highlights for the year ended March 31, 2017

SickKids is committed to operational efficiency, transparency and accountability. We support evidence-based decisions to enhance our financial health, conduct business under the principle of fiscal prudence and act with integrity and good judgment when allocating resources.

The Hospital continues to maintain its financial health. Excess of revenues over expenses contribute positively to the Hospital's net assets, which are then reserved for specific purposes or reinvested into operations and capital investments aligned with the Hospital's strategic priorities.

revenue Investment Income
expenses
revenue Patient Care
expense Patient Care
research Institute Funding
Hospital investments
Investment Income

Foundation Financials

Financial highlights for the year ended March 31, 2017

SickKids Foundation is committed to the highest standards of accountability and transparency. We were among the first nationally accredited charities under Imagine Canada's Standards Program.

Gross fundraising program revenue and net lottery revenue $140.3 million
Total grants and charitable activity $105.0 million
Fundraising and administrative expenses $44.6 million
sources of revenue
investments in shild health
Total Assets
Fundraising Revenue
Investment Mix
endowment Outpaces Inflation

Investment Asset Growth Summary Since 1995 (IN MILLIONS)

Opening Market Value, March 31, 1995 148
Net Contribution (Withdrawal) (61)
Investment returns, Realized gains, and Unrealized appreciation 1,075
Cumulative Return from Investments 1,075
Ending Market Value, March 31, 2017 1,162

SickKids Hospital Financials - For the year ended March 31, 2017

Financial Highlights

Revenues And Investment Income ($977.2 MILLION)
Ministry of Health and Long-Term Care 61%
External Research Funding 12%
SickKids Foundation 10%
Commercial Ventures 6%
Patient Care 5%
Amortization 3%
Investment Income 3%
Expenses ($966.0 MILLION)
Compensation 64%
Other Operating 11%
Clinical Supplies and Drugs 9%
Depreciation 8%
Administrative and General 4%
Cost of Goods Sold 3%
Interest 1%

Patient Care Total Revenues And Expenses

Revenues ($683.9 Million)
Ministry of Health and Long-Term Care 89%
Fee-for-Service 3%
Other 8%
Expenses ($687.0 MILLION)
Compensation 72%
Clinical Supplies and Drugs 9%
Other Operating 9%
Depreciation 8%
Administrative and General 2%

Research Institute Total Revenues And Expenses

Sources Of Research Institute Funding ($212.4 Million)
Research Grants and Awards 60%
SickKids Foundation 34%
Indirect Cost Recoveries 4%
Technology and Licensing Income 2%
Research Grants and Awards Sources over $1.0M
Canadian Institutes of Health Research $31.0 Million
Miscellaneous $14.7 Million
Canada Foundation for Innovation $13.5 Million
Genome Canada $12.6 Million
Ontario Ministry of Research, Innovation and Science $9.8 Million
National Institutes of Health $8.0 Million
Canada Research Chairs Secretariat - Federal Indirect Cost Program $6.3 Million
Canada Research Chairs Secretariat - CRC Program $3.5 Million
Bill & Melinda Gates Foundation $3.5 Million
Brain Canada Foundation $2.5 Million
Natural Sciences and Engineering Research Council of Canada $2.4 Million
Ontario Brain Institute $2.1 Million
The Terry Fox Research Institute $2.0 Million
Canadian Cancer Society $1.6 Million
Ontario Student Opportunity Trust Fund $1.5 Million
Ontario Institute for Cancer Research $1.4 Million
Cystic Fibrosis Foundation Therapeutics Inc $1.2 Million
Luminex Molecular Diagnostics $1.2 Million
JDRF Canadian Clinical Trial Network $1.1 Million
University of Michigan $1.0 Million
Total Research Institute Expenditure ($230.8 MILLION)
External Grant Funded Costs 69%
Internal Costs 31%
Total Research Internal Expenditure
Scientist Salaries 15%
PGCRL Operations 18%
Interest Expense 14%
Research Operations 10%
Scientific Support 9%
Start-ups and Bridge Funding 12%
Building and Core Infrastructure 5%
Depreciation 17%

Investment Performance

Hospital Investments ($433.0 Million)
Pension Assets 51%
Debenture Retirement 8%
Donor Endowment 5%
Unrestricted Investments 36%
Investment Income ($ Millions) - Investment income and realized gains only
12/13 $14.3 Million
13/14 $8.0 Million
14/15 $25.5 Million
15/16 $11.4 Million
16/17 $23.9 Million

SickKids Foundation Financials - For the year ended March 31, 2017

Financial Highlights

Gross fundraising program revenue and net lottery revenue $140.3 million
Total grants and charitable activity $105 million
Fundraising and administrative expenses $44.6 million

Revenue Source And Investment In Child Health

Sources of Revenue
Events $18.4 million 13%
Corporate Partnerships $27.5 million 20%
Direct Marketing $32.1 million 23%
Individual Giving $42.7 million 31%
Gifts & Estate Planning $16 million 12%
Net Lottery $2.1 million 2%
Net Parking $1.5 million 1%
Investments In Child Health
Research $74.8 million 71%
Patient Care $14.1 million 13%
Education $5.6 million 5%
International $3 million 3%
National and Other $7.5 million 7%

Total Assets And Fundraising Revenue

Total Assets
2017 $1,183.9 million
Fundraising Revenue
2017 $136.7 million

Investments And Endowment

Investment Asset Mix
Short-term 32%
Bonds 12%
Canadian Equity 5%
U.S. Equity 12%
International Equity 10%
Global Equity 29%
Endowment Outpaces Inflation
Year Endowment balance inflated by CPI ($ MILLIONS) Growth in excess of inflation ($ MILLIONS)
2008 $292,998 $197487
2009 $271,168 $141792
2010 $292,849 $291981
2011 $291,670 $317174
2012 $300,893 $384017
2013 $284,667 $450213
2014 $331,374 $509607
2015 $335,340 $624003
2016 $317,102 $608819
2017 $306,200 $706800
Investment Asset Growth Summary Since 1995 (IN MILLIONS)
Opening Market Value, March 31, 1995 148
Net Contribution (Withdrawal) (61)
Investment returns, Realized gains, and Unrealized appreciation 1,075
Cumulative Return from Investments 1,075
Ending Market Value, March 31, 2017 1,162

Unrestricted Giving

Unrestricted giving means unrestricted impact

Unrestricted giving creates impact where it's needed most now, and where it's needed next.

Our Donors

We would like to recognize the following individuals whose cumulative contributions have reached or exceeded $25,000, and those corporations, foundations, associations and community events that have generously contributed $50,000 or more, between April 1, 1993 and March 31, 2017. We are profoundly grateful for your support. We also wish to thank those donors who have chosen to remain anonymous.