A Message From the Treasurer/Director
Philanthropic investments enable medical discoveries and advancements in frontline clinical care that our publicly funded health care system cannot support alone.
Thanks to the generosity of our donors, St. Joseph’s Health Care Foundation realized $11M in cash donations in 2017-18.
The Foundation’s continued focus on performance improvement and lean business practices led to impressive results, with operating expenses reduced by 6.6% over 2016-17. The resulting ratio means that for every $1 of operating expense, the Foundation realized $3.29 of benefit for the hospital. Investment returns for 2017-18 were also satisfactory at 3.4% net of manager fees.
St. Joseph’s Health Care Foundation continues to manage a total endowment fund of $58.8M, which provides annual support tied to specific care, teaching and medical research areas. In 2017-18, the Board of Directors made the historic – and visionary – decision to establish a separate operating endowment to provide sustainable support for the Foundation itself. Such a fund builds both current and long-term fundraising capacity to better support St. Joseph’s programs.
The remarkable success of 2017-18 enabled St. Joseph’s Health Care Foundation to invest $4.3M where it matters most: in care and medical research initiatives that improve the health of people across our region. Many more large-scale projects have also been approved for funding, which will result in record disbursements for 2018-19. This report showcases just a few of the many worthy projects made possible through donor support. I invite you to view our full financial report for a complete list of grants made in 2017-18.
Your support matters here. Thank you for your commitment to the health of our community.