2014/15 University Hospital Foundation Annual Report: Supporting Worl | Page 41

The investment income
allocation rate for this fiscal year
remained high at 9.13% (10.5% in
2013/2014). The allocation rate
is based on the five year net
annualized investment returns.
In this fiscal year, $5.4 million
($5.3 million in 2013/2014)
of investment income was
allocated to the Established
Funds, which are listed in
Schedule 2 of the Financial
Statements.

The Foundation’s Board of
Trustees implemented and
annually reviews a General
Fund Stress Policy to ensure
the long-term sustainability
of the Foundation. Should
there be a significant market
downturn, this Policy ensures
there are sufficient reserves to
cover the subsequent fiscal
year’s operating and fundraising
expenses, plus an allowance
for unrealized market losses
to protect the capital of the
established (endowed) funds.
As at March 31, 2015 the general
fund had a surplus of $9.1 million.
To review our audited financial
statements, including financial
statement notes and schedules,
please visit our website at
GiveToUHF.ca.

In the past year the Foundation
distributed $12.2 million ($12.6
million in 2013/2014) to advance
research and patient care at the
University of Alberta Hospital,
the Mazankowski Alberta Heart
Institute, the Kaye Edmonton
Clinic and the University of

On behalf of the Board
of Trustees’ Finance and
Investment Committee, thank
you for your generous support
of the University Hospital
Foundation. With your gifts, we
are accelerating excellence in
healthcare in Edmonton, Alberta,
and Western Canada.

Terry Freeman, FCA
Chair, Executive, Finance &
Investment Committee
University Hospital Foundation

Karin Bara, CMA
Vice President, Finance &
Human Resources
University Hospital Foundation

Investment Income Allocation
to Established Funds
6
Dollar ($ million) Amount

At March 31, 2015 our
Established Funds increased
$10.5 million, to a total of
$69.2 million ($58.7 million in
2013/2014). Established Funds
are an important source of longterm revenue as the donation
is invested, and the investment
income is distributed annually
to support patient care and
research priorities as designated
by the donor.

Alberta. The Foundation
anticipates distributions for the
next fiscal year to be $12 million
- $18 million as new initiatives
are funded such as the Gamma
Knife, Clinical 3T MRI, Stroke
Ambulance and the C.J. Woods
Prostate Health Clinic.

5
4
3
2
1
0
2010
2011

2011
2012

2012
2013

2013
2014

2014
2015

Fiscal Year

Value of Fund Balances
140
120
Dollar ($ million)

consolidated investment returns
have consistently outperformed
their benchmark by between
1.3% and 5.7%, for each of the
past five years; this year was no
exception.

100
80
60
40
20
0
2010
2011

2011
2012

2012
2013

2013
2014

2014
2015

Fiscal Year

University Hospital Foundation
Annual Report 2014-2015

39