Financial Report
Reaching New Levels
Record donations and fundraising efficiencies boost hospital-directed funds
Donation revenue and disbursements
Donor support reached unprecedented levels in the 2022-23 fiscal year, despite economic challenges due to the pandemic, high inflation and a potential looming recession. This enabled the Foundation to support the hospital’s mission of care, teaching and research.
We were humbled to receive $17.3 million in cash gifts, many of which were endowed for long-term benefit. As a result, the Foundation was able to disburse funds totalling more than $9.5 million including:
- $3.4 million to St. Joseph’s Health Care London
- $3.4 million to Lawson Health Research Institute
- $2.7 million to Western University
(to benefit ophthalmology and imaging research at St. Joseph’s)
Along with record donations, the Foundation improved its fundraising efficiencies. In doing so, it maximized funds directed to patient care and research. For every dollar spent on fundraising costs, $5.04 was raised to support patient needs, an increase from the five-year average of generating $3.02 for every dollar spent.
Allocations to care, teaching and research
The Foundation was able to support more than 10 per cent of the hospital’s capital needs for patient care, including the support of significant imaging and surgical technology. We also created the Marcel and Louise Brunette Chair in Ophthalmology, and supported eight new surgical fellowships and multiple scientific research positions.
With a mission to help all who come to St. Joseph’s for care, the Foundation continued to focus on supporting care and comfort initiatives for residents at Mount Hope Centre for Long Term Care and Veterans at Parkwood Institute. Projects to enhance the facilities offering inclusive health and healing environments for patients, residents and their families were completed with support from the donor community.
Investing in the future through endowed funds
The Board of Directors strongly believes in investing in the future to create stability, and to maintain fiscal accountability. The Foundation’s endowed funds grew by more than $4.25 million, representing more than a six per cent increase year over year. The funds grew due to a number of significant estate gifts received in the past year that were endowed for long-term benefit, and primarily for research for which there are no other sources of funding.
Donor support enabled the Foundation to invest funds in patient care, teaching and research that otherwise would not be possible.
Thank you for your tremendous support this past year.
Melissa Aveiro
Treasurer/Director
St. Joseph’s Health Care Foundation