STELLARTON – A decrease in donations to the Aberdeen Health Foundation in 2009 is being blamed on the tanking economy.
John Morrow, who delivered the audited financial statements at the annual general meeting of the Foundation on Thursday night, indicated that the decreased donations – only $460,000 this year, compared to $720,000 the year prior – weren’t unexpected.
“It’s a function of the recession,” he explained, adding that the Foundation itself took precautions that included cashing out several of its investment portfolios and keeping cash on hand over the year.
“On the surface, it doesn’t appear very good, but the portfolio is $4.2 million this year, versus a $10 million loss last year.”
Overall, he added, the Foundation experienced a net wealth increase of 32 per cent over 2008.
The Foundation was able to broaden its purpose in 2009 when it combined the Aberdeen Hospital Foundation and the Aberdeen Hospital Trust into a single entity, explained outgoing Foundation chairman Jim MacConnell.
“We put three into one and were able to perform much more broadly than we did before,” MacConnell explained.
“We worried that we would not be able to do the things we’d like to do, like education, because we were restricted under the old format. This will allow us to do outreach programs.”
Since its inception, the Foundation and the Frank and Irene Sobey Memorial Trust have funded well over $11.4 million in equipment for the Aberdeen Hospital.
“Our hospital is the envy of many – I think we’re the second biggest in the province, outside of Capital Health (in Halifax),” MacConnell added.
In 2009, the Aberdeen Health Foundation funded $670,498 in equipment, and already, the board has committed $350,000 in 2010 towards enhancements for anesthesia equipment.
“Having these enhancements result in a better quality of life to Pictou County, and we’re able to do something good for the medical staff to hopefully attract and retain doctors in our area,” MacConnell said.
“The anesthesia equipment represents a tremendous upgrade. It was a matter of necessity and I’m very glad we’re able to do it.”
Last year also saw the Foundation assist in funding just under $20,000 in education for staff and physicians through educational opportunities and fund $4,000 in the Sandbar Mental Health Endowment, which was founded in 2006. The funding for the Sandbar Endowment will directly impact client care through self-directed trips, which enables clients to make plans and see them through.
