DOES ALL THE MONEY FLOW THROUGH TO PRINCESS MARGARET CANCER CENTRE FROM THE LOTTERIES?
All of the money from the Lottery ticket purchases comes to The Princess Margaret Cancer Foundation, which then pays all the expenses associated with running the lotteries. The net income from the lottery programs is made available in research grants to the Princess Margaret Cancer Centre. Since 1996, the lotteries have raised over $472 million in net income that has been granted to Princess Margaret Cancer Centre, allowing it to become one of the top 5 cancer research centres in the world. The Princess Margaret lotteries are the largest source of private cancer research funding in Canada and the public support of our lotteries has made a significant difference to cancer research and discovery, and will continue to be critical as we lead the way in Personalized Cancer Medicine.
The Princess Margaret Cancer Foundation carefully examines balancing the risk and reward of running each lottery in its goal to raise significant funds to support its mission. Lotteries are a ticket purchase and under Canada Revenue Agency (CRA) guidelines no tax receipt can be offered with this distinct form of fundraising. All net revenue after all expenses are paid from each lottery is directed to Princess Margaret Cancer Centre and its research initiatives. On average, we return approximately 35% in prizes, which we purchase, to our winners. In addition, we invest approximately 25% in the running of each lottery, which includes such costs as marketing, call centre support, ticket issuance, lottery licences and oversight of the program, to comply with the rules and regulations established by the Alcohol and Gaming Commission of Ontario. The net revenue of the Princess Margaret Lottery programs in 2019 was over $42 million (approximately 40% of total revenue) and this was granted to the cancer centre to support our research organization. This is a very significant and important source of funding for Princess Margaret Cancer Centre.