2014/15 University Hospital Foundation Annual Report: Supporting Worl | Page 40

Management Discussion
of 2014-2015 Financial Statements
Thanks to the generosity of our donors, the University Hospital Foundation once again achieved
strong financial results, earning $24.6 million in excess revenue before distributions.
• Fund balances continued to grow, increasing by $13 million to reach a historic high of
$126 million
• $5.4 million of investment income was allocated to the Foundation’s Established Funds
• $12.2 million was distributed to advance patient care and research
As prudent stewards of our
donors’ dollars, we work
diligently to ensure that we
efficiently and effectively raise
and manage our donors’ gifts.
The Foundation employs a
variety of fundraising programs
such as annual giving and
major gift campaigns, direct
mail, donor prospecting, special
events and lotteries.
During the 2014/2015 fiscal
year the Foundation raised
$36.2 million ($35.4 million in
2013/2014) in gross revenue,
which includes investment
income of $12.5 million ($14
million in 2013/2014). After

$11.7 million ($11.1 million in
2013/2014) in expenditures, our
excess revenue before other
items was $24.6 million
($24.3 million in 2013/2014).
While fundraising revenue
increased by $2 million,
over the previous fiscal year,
comparatively fundraising
costs only increased marginally
by $0.1 million. As a licensed
charity in Alberta, the University
Hospital Foundation complies
with guidelines established by
Service Alberta to determine
cost of fundraising. (The cost
of special events and lotteries
is not included in Service

Alberta’s calculation of the
cost of fundraising.) This fiscal
year fundraising costs wer