Annual Report and Financial Statements for the year ended 30 June 2014 . www.gchfoundation.org.au (07) 5594 6986 Table of Contents Letter of compliance 2 Chairman’s report 3 Chief Executive Officer’s report 5 Gold Coast Hospital Foundation role and main functions 10 Non-financial performance The year in review – against our strategic plan 12 Grants and Disbursements 2013-2014 13 Additional Achievements 15 Looking Forwards – Plan for 2014/2015 16 Governance – management and structure Organisational structure, boards & committees 18 Financial performance Treasurer’s report (Chief Financial Officer) 23 Annual financial statements 25 Independent audit report 47 Appendices Compliance checklist 50 Glossary 50 © (Gold Coast Hospital Foundation) 2014 ISSN: 2200-1808 Licence: This annual report is licensed by the State of Queensland (Gold Coast Hospital Foundation) under a Creative Commons Attribution (CC BY) 3.0 Australia licence. CC BY licence summary statement: In essence, you are free to copy, communicate and adapt this annual report, as long as you attribute the work to the State of Queensland (Gold Coast Hospital Foundation). To view a copy of this licence, visit http://creativecommons.org/licences/by/3.0/au/deed.en Gold Coast Hospital Foundation Gold Coast University Hospital 1 Hospital Boulevard Southport QLD 4215 Phone: 07 5594 6986 Email: [email protected] Website: www.gchfoundation.org.au Open Data Details of our Open Data i.e. consultancy expenditure has been published online through the Queensland Government Oped Data website (qld.gov.au/data) Public availability This report is available on our website: www.gchfoundation.org.au/about/publications Reports from previous years can also be found on our website. The Queensland Government is committed to providing accessible services to all Queenslanders from culturally and linguistically diverse backgrounds. If you have difficulty understanding the annual report, please contact the Foundation Assistant on (07) 5594 6986, who will arrange an interpreter to effectively communicate the report to you. Gold Coast Hospital Foundation Annual Report and Financial Statements 2014 1 Chairman’s report – Gary J Baildon AM, KSJ, Duniv This Annual Report is a very special one – marking a significant milestone in the Foundation’s history. In 2014, the Foundation proudly celebrates 20 years of charitable service to help improve the health of the Gold Coast community. I feel incredibly fortunate to have played a role in the hundreds of medical equipment, research and health education activities and achievements of the Foundation, since it was established in 1994. This significant anniversary provides a perfect opportunity to acknowledge who I like to call, ‘the quiet achievers’… those people who have put so much time and energy into projects that have helped improve local health care services for people just like you and I. At the forefront of my mind is Cnr Lex Bell, our Founding Chairman who volunteered his leadership, time and effort into our formative years. I would particularly like to thank and recognise all of our doctors and nurses, with a special mention of Eda Beck, a health professional who served on the Foundation board for a number of years. As a practicing psychologist, lecturer at Griffith and Bond universities, and a former health administrator in Darwin, Eda shared great expertise and dedication with this organisation. I also thank all of the donors and supporters, community volunteers and Foundation Board members, who have volunteered their time and in many cases provided generous financial support and gifts-in-kind, to help us achieve our mission. Worthy of great praise are the initial long-standing members of our team, including Beth Dermody, who spent 12 years running the Foundation from the old wards at the Gold Coast Hospital. I’ve always believed the word ‘Foundation’ to be so appropriate to what we do, as it allows one to visualise the image of a strong, resilient supporting structure – unseen, beneath the surface, but delivering a strong sense of security, faith, dependability and trust for all those who work within it or seek its services. With this in mind, I extend a heartfelt thanks to all those who have been an essential part of this Foundation, especially our donors who provide the steely resolve and commitment to hold firm in the service of others – the real strength within our solid base. The last 12 months have been both exciting and challenging and I am extremely proud of the achievements of the Foundation during this period. In September 2013 we moved premises from the old de-commissioned Gold Coast Hospital to the new Gold Coast University Hospital (GCUH). I am pleased to report that the Foundation is in a strong financial position. Last year I reported that, “For some time, substantial funds have been held in reserve to take advantage of a specific commercial investment in the new Gold Coast University Hospital. This capital outlay is no longer required and the anticipated income-generating partnership with Gold Coast Hospital and Health Service (GCHHS) e.g. retail, parking and patient-entertainment system revenue will no longer occur. This change in direction means that Gold Coast Hospital Foundation, unlike many of our Queensland Hospital Foundation peers, no longer has a steady earned income stream on the horizon. This will place a greater emphasis on our Fundraising capability and performance and as such, we have approved a new five year organisation strategy and fundraising strategy that will result in a professional fundraising team and department being built. Looking at this year’s account you will notice that our income is slightly higher than that achieved in FY13, yet our disbursements for grants and projects is lower. This is disappointing Gold Coast Hospital Foundation Annual Report and Financial Statements 2014 3 and is due to GCHHS delays in ordering and invoicing us for equipment that we have approved. We hope to disburse these accrued funds as early as possibly in FY15 and will seek to work with GCHHS to improve our disbursement processes. It is worthy of note that our strong financial position is due to the support of the community. I would like to take this opportunity to thank each company, organisation and individual that has so generously supported us throughout the year. It is only due to the commitment of our supporters that the Foundation is able fund vital medical equipment and continued education for health staff and invests in promising medical research. Turning my attention to now to our Board; long serving board member Professor Lyn Griffiths retired from the Foundation to take up a new position in Brisbane. We are grateful for Lyn’s significant contribution to our work during her time with us and the impact she made to local Research. David van Herwaarde, Treasurer, took a leave of absence due to conflicting work commitments and Wayne Hunt, Vice-Chairman, who has a strong accounting background, has become Acting Treasurer. Thank you to all board members for their attendance and dedication to the Foundation throughout the year. Our Chief Executive Officer, Kim Sutton, has now been in post for 18 months and has really started to build us a strong future as she re-positions our cause, builds the team and overhauls our systems, procedures and activities. She has made an impressive start in growing public awareness and support for our work and improving our fundraising. While much has been achieved this year, disruption has occurred with the replacement of our Partnerships Manager – leaving the role vacant for three months and fundraising mainly reliant on the Chief Executive Officer. This will be my last Annual Report. I feel that the time has come for me to step down from my position on the Board and I anticipate that this will happen during the Board nomination process in November 2014. As I prepare to resign my role as Chairman, I would like to share with you one of Winston Churchill’s quotes that has been of constant inspiration to me. He said, “You make a living from what you get – you make a life from what you give.” Gold Coast Hospital Foundation Annual Report and Financial Statements 2014 4 Chief Executive Officer Report - Kim Sutton CFRE, BBSc (Psychology Hons.) The year in review. The past 12 months have been a busy and exciting time for the Foundation with lots of hard work and positive changes that will position us well for the future. In June 2014 we finalised our equally inspirational and ambitious 5-year strategy and budget, which will springboard the Foundation into the next phase of development. These plans will see us make a greater annual impact on the growing health needs of our community and the hospital and health service that serves them. The central pillars of our new strategy involve growing public awareness and community support for our work, so that we can significantly increase the impact that we have on public health care in our region. A key highlight of the year was the opening of the new Gold Coast University Hospital in September 2013. This brought with it new offices for the Foundation team and most importantly, a prominent location in the Retail precinct (see image below). This new location has commenced our journey towards increased community awareness, as a growing number of health staff have started to come in to find out about our grant programs and more patients and visitors pop in to make a donation. Another highlight of the year was the delivery of our largest event to date – our Gala Dinner held in August 2013 to celebrate the opening of the new Gold Coast University Hospital. This event was attended by 408 guests who raised just over $80,000 for health and medical projects.