Founded in 1972, SickKids Foundation raises money for SickKids Hospital in Toronto. Its formal name is The Hospital for Sick Kids Foundation. SickKids Hospital reports that it is Canada’s most research-intensive hospital and Canada’s largest center focused on children’s health.
In Feb 2020, the hospital received 315,546 ambulatory and 77,212 emergency visits, admitted 16,249 patients, and performed 11,871 surgeries.
SickKids Foundation reported grants of $144.9 million in F2020. $134.8 million (93%) went to SickKids Hospital. $1.1 million in grants to SickKids Hospital was added to defer grants to be paid in future years. Of total grants, 64% was allocated to research, 24% to patient care, and 4% to education, and 8% to other programs across Canada and internationally.
SickKids Foundation is a Major 100 – one of Canada’s largest charities in terms of donations. It collected $190.9m in donations and special events fundraising in F2020. Total revenue of $35.6m is down 79% from $169.4m in F2019, largely due to net investment income of ($160.6m). Unrealized losses are not disclosed in the audited financial statements but the evolving economic impact of COVID-19 has been noted, particularly its effect on the fair value of the Foundation’s investments.
Corporate social responsibility as a business practice involves putting certain funds toward organizations or people who need aid. Some corporations put part of their proceeds towards programs that feed the hungry, others towards organizations that clean up the environment.
Here, care24 is expected to maintain a certain level of responsibility in the way they run their operations. Similarly, a company can be viewed as ethically irresponsible if it knowingly brings harm to the environment or if its business tactics cause employees to be treated unfairly.