Our Board


Message from Board, President & CEO

It has been a very rewarding and fulfilling year for the Caritas Hospitals Foundation. As we reflect on our accomplishments of 2008/2009, none are more deserving of recognition than the contributions of our Donors, Volunteers and Friends. To each and every one of you, our heartfelt appreciation for your generosity and for the endless hours you have selflessly given to the work of our Foundation. It is through your acts of kindness that Caritas Hospitals Foundation and Covenant Health will continue to support our community in some of the most celebrated and most difficult times of need.

As we look to the future, we are encouraged by the wonderful opportunities that lie ahead. On August 17th, we will launched our 18th Annual Caritas Hospitals Foundation Lottery. Through the visionary leadership of our Lottery Committee and the dedicated efforts of our managers and design team, this year’s Lottery features our most impressive prizes to date –$2.5 Million grand prize package – $1.5 Million fully furnished and decorated show home with spectacular landscaping including hot tub, and premier garage package and $1 Million in CASH. Since the inception of the Caritas Hospitals Foundation Lottery, we have raised a record of over $20 million thanks to the generous contributions of Edmontonians and Albertans.

Mother Teresa once said, “We ourselves feel that what we are doing is just a drop in the ocean. But the ocean would be less because of that missing drop.” To all of our supporters of yesterday, today and tomorrow, thank you for embracing our 115-year tradition and mission to provide care that honour the remarkable journey of life, from beginning to end.

Yours truly,

Ken Knowles Chairman of the Board
John Boucher President and CEO

Annual Report as of March 31, 2009

Revenue
Donor Restricted Funds $
Unrestricted Funds $
Donor Endowment Funds $
General Endowment Funds $
Total $

Charitable Donations
1,134,245
190,849
20,000
-
1,345,094

Donations from Associates of Caritas
481,000
-
-
-
481,000

Special Events – net
1,076,722
214,296
-
-
1,291,018

Realized investment income – net
-
(168,518)
23,950
68,821
(75,747)

Fair value adjustments
-
(200,912)
(619,588)
(1,657,044)
(2,477,544)

 
2,691,967
35,715
(575,638)
(1,588,223)
563,821

 

Expenses

Donations to Caritas Health Group (Covenant Health)
2,859,661
-
-
-
2,859,661

Charitable donations – direct costs
286,488
-
-
-
286,488

Administration
-
588,432
-
-
588,432

 
3,146,149
588,432
-
-
3,734,581

 

Excess (deficiency) of revenues over expenses

 
(454,182)
(552,717)
(575,638)
(1,588,233)
(3,170,760)

 

Net assets – Beginning of year

 
6,544,818
352,489
3,309,209
9,509,247
19,715,763

 

Net assets – End of year

 
6,090,636
(200,228)
2,733,571
7,921,024
16,545,003