Busy Year for the TMH Foundation

Quinte West, ON June 9, 2021: For the second time during the pandemic, the Trenton Memorial Hospital Foundation held its Annual General Meeting via zoom. It was the last official meeting for Darrell Smith, who has completed his 9-year term. Despite another Covid year, the Foundation ended on a strong note.

Financial highlights included:

  • Total Revenue including Investment Income and Donations this year were $5,910,000 million bringing the Donation 5-year total to over $10,284,618 million, which was this year was $1.9 million
  • Grants to Quinte Health Care $2,568,000, a 5-year total of $11,664,000, outpacing donations.
  • The Cost to Raise a dollar dropped to $0.07 from $0.12 last year, significantly lower than the Canada Revenue Agency guidelines for not-for profits with a benchmark of $0.35 for their fundraising activities.
  • The Return on Investment was up to $14.09 from $8.50 the previous year
  • Expenses were down 8%, most significant was the drop in Fundraising and Special Event expenses which dropped by 25% year over year.

Tina Furmidge, TMHF Treasurer, expressed her appreciation to the community who have been there for them throughout the year, despite the impact Covid has had on everyone – financially. The Foundation continued to raise funds throughout the year knowing the importance of having a well-equipped hospital and necessary PPE requirements to keep the staff and patients safe. “The Investment Finance committee and the Board of Directors continue to be committed to fiscal responsibility. We make every effort to maximize every dollar the Foundation receives from the community and in managing our investments so we continue to review every program to ensure each program meets the industry benchmarks”, says Tina Furmidge.

Gerald Draaistra presented the nominating report, welcoming Josephine Robertson and Karen Ferrill as new trustees of the TMH Foundation Board of Directors. Josephine is co-owner of seven local Tim Horton’s locations, a former nurse and founding board members of the Quinte West Youth Center. Karen is the President of Read’s Accounting. She has been a member of the TMHF Finance committee for the past 3 years.

Board Chair, Darrell Smith expressed his sincere appreciation to the Donors, Auxiliary Volunteers and staff of TMH for their support of the Foundation, and without whose generosity this year, these tremendous results would not have been possible. He also expressed overwhelming gratitude for the many community partners who have demonstrated their support for the TMH staff with donations of coffee and cookies, car balloons, staff survivor kits, subs, pizza, pasta, gifts, and so much more. This was Darrell’s last meeting as chair after serving on the Foundation for a 9-year term. Paul Ferguson becomes Chair for 2021-22, also elected were John Smylie to Vice Chair, Tina Furmidge to Second Vice Chair, a newly created position and Peter Webb as Treasurer.

The TMH Foundation Board of Directors consists of: Darrell Smith, Paul Ferguson, Tina Furmidge, Aleesha Camp, Gerald Draaistra, Mike Eden, Dr. Ashly Minuk, John Smylie, Pam Pettigrew, and Peter Webb. Both Tina and Darrell also acknowledged the members of the community that also sit on the Investment Finance Committee with board members: June Brace, Karen Ferrill, Marty Halloran and Eleanor Guenette. The latter meet monthly and make every effort to ensure continued accountability and transparency to their community.

To request a copy of their financial statements please contact the TMH Foundation at 392-2540 ext. 5401, or leave a message at info@tmhfoundation.com

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