Financial Report

Your Support is Building Capacity for Better Patient Care

Donation Revenue & Operating Expenses

Although the challenges of the pandemic persisted over the last year, donor support continued to enhance care, research and teaching across St. Joseph’s. The Foundation was fortunate to be the recipient of cash gifts totaling $10,126,622. The generous continued support of our donors, the re-emergence of community events, Dream lotteries and our first-ever staff lottery all contributed to this impressive total.

Thank you for enabling our Foundation to support the hospital’s mission of care and helping to meet the ever-evolving needs of this community.

In order to continue fulfilling our mandate, the Foundation did apply for and receive $195,827 in government subsidies in 2021. At the same time, we exercised disciplined expense management throughout this time in order to sustain the work of the Foundation. Our team stepped up to the challenge, tightly managing our limited resources to continue raising vital funds for the hospital.

Asset Base and Endowments

In 2021, the Foundation’s total assets under management totaled $104,120,725, inclusive of unrestricted, restricted and endowed funds. 

Unrestricted funds provide key funding for any new or emerging hospital need. Restricted funds are earmarked for specific projects across St. Joseph’s, and account for one quarter of the Foundation’s asset base.

Endowed funds currently comprise 65% of the Foundation’s total assets, and experienced strong growth last year. These funds generate investment income that provides critical funding in perpetuity for countless needs across St. Joseph’s including critical funding for scientific research positions.

Allocations to Care, Teaching & Research

Over the last year, caring donors enabled the Foundation to grant $6.0M to care, research and teaching needs across the sites of St. Joseph’s. Although some disbursements and hospital initiatives have been delayed by the pandemic, there have still been numerous opportunities for Foundation donors to meaningfully support the hospital’s mission as partners in care.

More than $3.0M was granted to directly enhance patient and resident care, including upgrading seven ultrasound machines across St. Joseph’s to top-of-the-line units, completing the refurbishment of the operating rooms at St. Joseph’s Hospital, and fulfilling a variety of approved capital needs like specialty mattresses and therapeutic recreation equipment.

More than $2.5M was granted to support medical research at St. Joseph’s and Lawson Health Research Institute. Some of these transformative projects include customizing the splint-making process for hand and wrist injuries, providing ongoing support for youth mental health, and granting nearly $1.0M in scientific research chairs.

Foundation donors also invested in vital training and education for the next generation of clinical and research leaders, including funding several surgical fellowships in the areas of breast oncology, ophthalmology, urology, hand and upper limb and otolaryngology.

Thank you again for your continued support of our organization and our community.

Melissa Aveiro
St. Joseph’s Health Care Foundation