Accountability

Commitments

Every year, we work with Island Health to determine priority needs in our hospitals. When you generously donate, we commit to funding specific equipment, research, education, and special projects to Island Health. Ongoing consultations with their staff ensure that the identified needs are prioritized so your donation is spent where it will have the greatest impact.

Disbursements

To ensure your gift directly supports the equipment or area of care you have chosen, funds are only released to Island Health once we have received an invoice. Hospitals may need to test equipment, train staff, and even make changes to the area where equipment will be located and used. This process ensures our commitment to accountability, guaranteeing funds are spent as you intended and we are prudently stewarding them.

Annually, Victoria Hospitals Foundation (the “Foundation” or “VHF”) raises funds for priority needs at our three local hospitals, Royal Jubilee Hospital, Victoria General Hospital, and Gorge Road Health Centre. The Foundation supports capital equipment, research, education and special projects.

Historically, the Foundation has primarily focused on funding capital equipment. Annual funds raised are typically disbursed to Island Health within a 6-12 month time frame, often spanning fiscal years. Due to global markets and current supply chain issues, the period for disbursements, we are now working within an increased time frame of 6-24 months.

Equipment funded through our most recent campaign, Imaging is Power, is being operationalized in sequence. The latest updates can be found here.

While the Foundation continues to focus on capital equipment needs, through the generous support of our donors, we have increased our funding for special projects due to the growing needs of our hospitals. Special projects are typically large construction projects that can take anywhere from 18 months – 10 years to complete from start to finish. These projects are longer-term, from receipt of donation to disbursement to Island Health. Construction activities often don’t begin until the Foundation commits funds for a project.

We work closely with Island Health to ensure we receive project updates and understand timelines in order to share the project status and impact with our donors.

During 2023-24, we disbursed $10.1 million in capital equipment, research, education, and care worker recognition. 170 pieces of equipment were purchased, supporting all areas of care. In addition, 20 researchers and 9 research projects were funded along with scholarships for 353 Island Health employees to advance their education and careers.

Fundraising Costs

We take our role as stewards of your generosity seriously. Committed to keeping our fundraising costs low, we aim to spend the highest possible percentage of every donation on leading-edge equipment that directly benefits our patients. The Foundation’s average cost of fundraising ratio of 15% (averaged over three years) falls well  below Canada Revenue Agency’s (CRA) guidance to remain under 35%. The Foundation calculates its fundraising ratio, which measures costs to revenue, as defined by the CRA.

Specified Gifts

Once the needs of the campaign are met, donations will support the highest priority need in our hospitals. A portion of all specified gifts is used to support the work and mission of the Victoria Hospitals Foundation. 

Annual Reports

Every year, we publish an annual report edition of our In Touch newsletter, highlighting contributions to our hospitals and reporting back to our donors and the community at large about our fundraising activities and expenses. The Annual Report is created as a transparent tool to inform our stakeholders about our activities throughout the year and the details of our finances, but it also acts as a key accountability piece. Through carefully crafted content, it demonstrates the value of the work we do while highlighting the crucial role fundraising plays in the delivery of healthcare in our region.

View the 2023-24 VHF Annual Report here.

See our past Annual Reports here.

Audited Financial Statements and Independent Auditors’ Report

The Audited Financial Statements and Independent Auditors’ Reports show the financial results by fiscal year end as audited by KPMG. The annual audit is conducted in June each year, and brought to the Board of Directors for approval in October.

See our 2023-24 Audited Financial Statements and Independent Auditors’ Report here.

See our past Audited Financial Statements and Independent Auditors’ Report here.

Privacy

The Victoria Hospitals Foundation is committed to principles of honest, open and ethical behavior in the handling and management of personal information.

Protecting the privacy of our donors, volunteers, employees, and other stakeholders is a critical priority. We value the trust of those we deal with and of the public, and we recognize that maintaining this trust requires us to be transparent and accountable in maintaining the confidentiality of the personal information that is shared with us.

The Victoria Hospitals Foundation embraces the principles of British Columbia’s Personal Information Protection Act (PIPA). We are committed to ensuring that all personal information is properly collected, used only for the purposes for which it is collected, and is disposed of in a safe and timely manner when no longer required.

For more information, please see or Privacy Policy or call 250-519-1750.

Compliance

We are in compliance with the following legislative bodies:

• British Columbia Gaming Policy and Enforcement Branch
• British Columbia Corporate Registry
• Canada Revenue Agency
• City of Victoria
• Internal Revenue Services
• Washington Secretary of State

Charitable Registration Number

Our Charitable Registration Number is: 10793 5637 RR0001