Financials

2022-23 Fundraising Revenue

2022-23 Disbursement of Funds

• Overall fundraising costs have averaged 13 per cent over the past five years, which is well below Canada Revenue’s Agency’s guideline of 35 per cent for charities. Our board reviews costs on an annual basis to ensure they are in line with other hospital foundations in the province.
• We aim to fund approximately $2 million annually for the hospital’s capital equipment needs and also fund special projects that include our Healthy Community Grants and other projects and initiatives that support our vision of White Rock and South Surrey becoming the healthiest community possible.
• The Foundation completed its $15 million funding of the ER renovation and expansion project in June 2020, and is providing $23.5 million in funding for five new operating suites. Both of the projects are now complete and opened in January 2022.

• We also funded $10 million for Peace Arch Hospital Foundation Lodge, a 200-bed residential care facility that includes the 15-bed George & Sylvia Melville Hospice Home. The Lodge opened in April 2020.
• Foundation donors (in partnership with Fraser Health and the Ministry of Health) provide critical investment necessary to meet the increasing health care needs, both at our hospital and in our community, for the residents of White Rock and South Surrey. These investments of $43 million in unrestricted funds will support future expansion and enhancements on the Peace Arch Hospital campus, including equipment for medical imaging, a new ICU, and other urgent priorities the Fraser Health Authority identifies in its forthcoming updated Master Concept Plan.

Our financial statements are audited on an annual basis by an external public accounting firm and reviewed quarterly by our Board of Directors.

The Healthy Community Grants Committee awarded $468,000 to qualified grant applicants of the 2022/2023 grant program. The program supports initiatives that enhance health and wellness to those who live in the White Rock and South Surrey area. More than $4 million has been invested in more than 200 projects since the inception of the grants program in 1999.

Directors of the Foundation provide their support on a volunteer basis and are not paid fees of any kind. The Foundation may, from time to time, incur costs with parties with which certain members of its Board of Directors are associated. These transactions are considered to be in the normal course of business. For the fiscal year ending March 31, 2023, no such costs were incurred.

On May 27, 2014, the Foundation was accredited under Imagine Canada’s stringent national Standards Program becoming one of the first hospital foundations in Canada to earn this credential.