Quinte West, ON June 12, 2019: With a commitment to Quinte Health Care to fund $2.6 million for Trenton Memorial Hospital this past fiscal year, the TMH Foundation was very proud to announce their total revenue at year end was its greatest achievement to-date raising $3,068,000. Giving them a head start towards their current fundraising goal of $1.7 million for 2019/20.
Expenses appeared higher than the previous year, but only as a result of the new Physician Recruitment and Retention program expenses being included. The Cost to Raise a dollar came in at $0.09 again this year and the Return on Investment slightly less than last year at $11.61. The total grants provided to QHC- Trenton Memorial Hospital for critically needed medical equipment and renovations, was $2,658,000.
Treasurer of the Foundation, Tina Furmidge was unable to attend the AGM, so a past Director of the Board, and current Finance committee member June Brace reported on her behalf. Mrs. Brace announced the auditors report showed a total revenue for April 1, 2018 to March 31, 2019 of over $3 million, up 3% versus last year.
Grants from the Kay Stafford Memorial Fund were awarded to 20 community organizations, more than $119,116 in support of health related projects for the benefit and enhancement of TMH. Additionally, 6 local high school students and 1 Loyalist College student received bursaries of $1000 each towards their post secondary education in pursuit of a health care field.
“The Investment Finance committee and the Board of Directors continue to be committed to fiscal responsibility and ensuring that the Foundation operates within the new Canada Revenue Agency guidelines. We make every effort to maximize every dollar the Foundation receives from the community and we continue to review every program to ensure each program meets the industry benchmarks”, says Darrell Smith
Board Chair Darrell Smith acknowledged the Investment Finance Committee volunteers for their hard work throughout the year to be good stewards of the gifts the Foundation receives. They included: Paul Ferguson, June Brace, Eleanor Guenette, Karen Ferrill, Jennifer Rainbird and Phil Wild. This committee meets monthly to ensure continued accountability and transparency to their community.