The Trenton Memorial Hospital Foundation held their Annual General Meeting on Wednesday, and for the 2nd time, held in virtually.
Chair of the Foundation’s Board of Directors Darrell Smith said important medical equipment was purchased for Trenton Memorial and more money was donated to Quinte Health Care for infrastructure improvements at Belleville General Hospital.
“We’ve got there and been able to accomplish that solely based on the support of our community and the incredible staff that we have that have found a way to stick handle through all of the challenges of the past 12 months.”
It was the final meeting for Smith as Director, who has completed his 9-year term on the board
Highlights and comments submitted by TMHF are below
Financial highlights
·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.
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Tina Furmidge, TMHF Treasurer, expressed her appreciation to the community, who has 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.
Also recognized at the end of the meeting were volunteers: Duncan Armstrong, Sharon Urquhart and Jennifer Rainbird for their outstanding contributions to the Trenton Memorial Hospital Foundation and Quinte Health Care.
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.
