Why are the Foundations doing this? Why not keep the status quo?
The volunteer Board members of the Foundations have decided on amalgamation in order to best position the hospitals’ fundraising for the future. By merging all back office functions, the new foundation will have greater capability than the individual foundations on their own, which in the past were competing for donors. We will now have the ability to speak with one voice to our donors, corporate partners, and other community groups
. The new model will also allow the Foundation to fundraise more effectively for programs that serve the whole region, like Cancer, Cardiac, Mental Health, and Maternal Child. Instead of several foundations approaching sometimes the same donors for funds, or running competing events, we will have one well-coordinated entity in the region.
What will happen to existing donor money?
Existing donor money will be used as the donor had instructed at the time of the gift. Donor fund designation to programs or services will be honoured. We are deeply committed and legally obligated to respect and honour donor wishes concerning their gifts.
What will this amalgamation cost? Who is paying for it?
There will be legal costs related to completing the amalgamation. These costs will be offset by some of the cost reductions in the first year of operation, for example the combination of 4 vacant Executive Director jobs replaced by a single CEO.
How much money does the foundation spend to raise money?
The Canada Revenue Agency recommends foundations spend no more than 35% and the goal of the One Foundation is to be far below that recommendation. We are happy to report that many of our foundations have historically spent around 20%. We will always strive to minimize the cost of our fundraising efforts.