The Trenton Memorial Hospital Foundation utilized Quinte West Council chambers to host its Annual General Meeting on Wednesday.
Included in the meeting were the financial statements, which showed total revenue for the fiscal year (ending March 31, 2024) at $4,115,000.
Board Treasurer Peter Webb indicated strong investments as a key reason for the success.
$2,064,000 came in from investments and $1,924,000 from fundraising.
Executive Director Wendy Warner says those investments come into play in years where fundraising may be more challenging.
“There are years when our donations are low and in a small community that can happen when you have major projects going on like the YMCA Capital Project or the hospice being built.”
She says investment income allows the foundation to maintain its giving levels and she credits strong financial minds on the board and others advising the board.
It costs $0.10 to raise $1 for the foundation, as savings of $0.01 from the year prior. Webb says it is incredibly important to keep fundraising costs low. The foundation also has a fund which covers the salary of employees of TMHF.
In the last fiscal year, 32 per cent of foundation funds came from special events, 20 per cent was direct mail, and major gifts equaled 30 per cent. Other forms of fundraising made up the remainder.
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Executive Director of TMHF Wendy Warner (l), TMHF Treasurer Peter Webb (c), and Board Director Darrell Smith (r)
Board Chair Tina Furmidge says the golf tournament and the gala brought in a combined$500,000.
Furmidge added Trenton Memorial saw an 11 per cent growth in patient visits year over year. She says with the demand increase, it is critical the support continues, so staff can treat residents at the highest standards.
It was also announced that the hospital auxiliary would contribute $100,000 over the next five years.
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(l-r) From Quinte Health Gina Johar (Vice-President – Chief Digital Officer) , TMHF Board Chair Tina Furmidge, and from Quinte Health Lena Rinaldi (Vice-President Nursing) (Photo: Tim Durkin/ Quinte News)
A cheque from the foundation to Quinte Health for $400,000 was announced for the Lumeo Health Information System.
The Kay Stafford Fund awarded over $96,000 for community agencies.
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Sarah Rozema Seaton (YMCA Strong Kids Campaign Co-Chair) (l) accepts a $5,000 cheque from the TMHF Kay Stafford Fund from Director Heather Tobey (r) (Photo: Tim Durkin/ Quinte News)
Trenton Memorial Hospital Foundation has a lofty goal of $8,000,000 to raise over the next three years.
It was the final meeting for board members Chair Tina Furmidge and Treasurer Peter Webb, who each completed their nine-year term.
Executive Director Wendy Warner also announced her retirement, after more than 20 years at the helm of the foundation. Lindsay Butcher Dodds has been named as Interim Executive Director. More on Warner’s announcement coming.
Winners from the Kay Stafford Fund, including local scholarship winners.
