Financials at a Glance
As Canada continues its recovery from what can be described as one of the most challenging economic periods in generations, the charitable sector across the country continues to feel the effects of the slow recovery. Despite a drop in revenue over the previous year, the Foundation reports a strong financial year as donors continued with confidence to invest in St. Joseph’s mission and vision.
From monthly contributions, to attendance at Foundation events and investments through personal leadership gifts, our community generously donated a total of $6.1 million to the work of the Foundation in the past year.
Total expenses incurred to raise funds and administer grants was $3.1 million, an 11.4 per cent decrease over 2009-2010. For the second consecutive year, Foundation investments showed positive returns, earning almost $5 million or 10 per cent on its average investment portfolio.
As of March 31, 2011, the Foundation’s total assets were $52.2 million, marking an increase of 5.2 per cent over 2009-10. Of that total, the Foundation’s endowed funds reached $45 million, an increase of 11.9 per cent over 2009-10.
Because of our community, the Foundation was able to grant $5.4 million to support a variety of patient care, education and research initiatives at St. Joseph’s and Lawson Health Research Institute. Individual grants made by the Foundation’s allocations committee ranged in size from as little as a few hundred dollars, to several thousands of dollars for frontline needs that touch patients across St. Joseph’s Hospital, Parkwood Hospital, Mount Hope Centre for Long Term Care and Regional Mental Health Care London and St. Thomas. The Foundation also made a significant contribution of $4 million toward its multi-year commitment to hospital redevelopment.
2010-11 Financial Statments
Financial Statement Archives
