Sinai Health Foundation

Sinai Health Foundation

The Sinai Health Foundation is the primary fundraising and endowment management arm for Sinai Health System, which encompasses Mount Sinai Hospital and Hennick Bridgepoint Hospital in Toronto. The foundation dates back to Mount Sinai's early philanthropic structures, although its current governance framework reflects a deliberate recruitment of real estate and financial services leaders. David Cynamon, a prominent Toronto investor and executive, serves as Board Chair. Immediate Past Chairs Jay Hennick, founder of Colliers International and FirstService Corp, and Richard Pilosof, CEO of RP Investment Advisors, exemplify the blend of entrepreneurial wealth management and institutional fundraising that defines the board. As a hospital foundation, the investment strategy prioritizes capital preservation and steady income generation to fund recurring hospital needs — research grants, equipment purchases, and facility upgrades. The endowment's asset allocation is not publicly disclosed, but Canadian hospital foundations of similar scale typically deploy across public equities, fixed income, and a growing allocation to private assets including real estate and infrastructure. The foundation's direct tie to Mount Sinai Hospital — a tertiary care and research institution on University Avenue — means its capital supports clinical programs in cancer care, women's and infants' health, and surgical innovation. Geographic focus remains firmly anchored in Toronto, serving the Greater Toronto Area's diverse patient population. With an estimated endowment of roughly $119 million, Sinai Health Foundation operates alongside other significant Canadian hospital foundations. The board includes Vice-Chair Jeffrey Rosenthal, Managing Partner of Imperial Capital Group, and Vice-Chair Jonathan Gitlin, CEO of RioCan REIT — Canada's largest retail real estate investment trust. The foundation also holds interests in real estate including the Murray Street Garage and maintains insurance policies as part of its asset base. Separate fundraising tournaments, such as the partnership with the Toronto Raptors, generate unrestricted revenue streams outside the endowment portfolio. No recent fund-level structural shifts have been publicly announced. Structurally, the foundation operates as a registered charity distinct from the hospital's operating budget, with a board that functions like an investment committee overseeing donated capital. This governance model — combining senior operating executives with philanthropic fundraising — allows Sinai Health Foundation to bridge Toronto's commercial real estate and financial services networks with its healthcare mission. The foundation's art collections and campus-based assets add a cultural preservation layer rare among peer medical charities.