Stevenson Memorial Hospital Foundation

FREQUENTLY ASKED QUESTIONS? STEVENSON MEMORIAL HOSPITAL FOUNDATION Why do we need the Foundation? Effectively the hospital is owned and operated on behalf of the community and the service levels directly reflect the investments made by the community. The Foundation is a separate incorporated charitable organization that operates independently of the Hospital. The Foundation's primary role is to operate fundraising programs that will meet the funding targets in any given year and to work with the Hospital to ensure our donor's money is spent on its intended use. How does the Foundation decide what it will fund? The Stevenson Memorial Hospital Foundation is dedicated to raising funds in support of Stevenson Memorial Hospital, consistent with donor interests and enabling the Hospital to deliver excellent health care to our community. How much does the Foundation raise every year? The total funds raised by the Foundation vary from year to year depending on the needs of the Hospital. The Ontario government provides less than 20% of the funding for hospital equipment and facilities. While staff salaries are government funded, expanded services and the necessary equipment must be funded by the community. The Canada Revenue website reports we have raised an average of almost $950,000 annually since 2006. We will need to significantly increase this amount as our facility and equipment become older and our population ages. What area does Stevenson Memorial Hospital service? Stevenson Memorial Hospital primarily services the New Tecumseth area and also provides services to the much broader surrounding area including South Simcoe. Currently, Stevenson serves over 26,000 emergency patients a year. Stevenson is challenged to service patient needs locally and our population is growing and forecast to grow significantly larger. While maintaining the hospital’s current high level of patient care and quality, SMH must meet the demands of a growing community, an aging population and the changing demands of the typical health care practices provided to the public. Can donors decide where their money will be used? Yes, financial contributions can be designed to support the foundation generally or be tailored to a donor’s specific interests, clinical areas or pieces of equipment. These can range in value anywhere from a few thousand dollars to a few hundred thousand dollars. Commitments can be a lump sum or through a pledge over a number of years. The Foundation will work with the donor to choose a different area of need if their choice is not on the approved list of priorities. The Foundation cannot reallocate designated funds without the prior consent of the donor. How does the Foundation operate? The Foundation operates under regulations established by the Canada Revenue Agency (CRA) and is required to report annually to the CRA on dollars raised, expenses and funds provided to the Hospital. Investment policies are regulated by the Public Trustees Act. The Foundation is audited annually and our audited financial statements are made available to the public. The Foundation belongs to the Canadian Association for Healthcare Philanthropy and the Canadian Centre for Philanthropy and has adopted these associations' Donor Bill of Rights as our code of conduct. The ultimate responsibility for the Foundation lies with its 12 volunteer Board Members although the Foundation does employ an Event Coordinator and an Administrative Coordinator. If you would like to learn more about the Stevenson Memorial Hospital Foundation please contact the Foundation office at 705-435-6281 ext. 1263 or e-mail foundation@smhosp.ca. Website: www.stevensonfoundation.ca