Message from the Treasurer/Director
Because of donor support, St. Joseph’s Health Care Foundation was able to invest $8.2M in care, teaching and research in 2016-2017.
The Foundation continues its long-term performance improvement strategy that focuses on lower cost/higher return activities – with success. This past year, we were able to complete $2.5M for a new Clinical Research and Chronic Disease Centre at St. Joseph’s Hospital and $435,000 for the Veteran’s Transition Project, which enhances clinical and care space for veterans at Parkwood Institute. We also facilitated a significant investment of $4M from the City of London for the London Medical Innovation and Commercialization Network.
Fiscal 2016-17 was a year of financial achievements for the Foundation with realized revenue exceeding the prior year by 43%. Operating expenses had a modest increase of 1% over the prior year while planned investment income exceeded slightly over $7M surpassing the projected investment returns by 6%. Additionally, our commitment to continuous improvement had a favourable impact on our cost per dollar raised to within industry standards.
With your support, the Foundation is helping grow support for care and research initiatives that matter to us, our loved ones and people in our community – thank you. You can read the financial report here.
Treasurer/Director, St. Joseph’s Health Care Foundation