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2020 Annual Report

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2020 Annual Report The Courage To Conquer 2020 Annual Report Patients like Lara inspire us to continue pushing the limits of possibility Read her full story on p. 35 The Impact The Impact Your support provides funds that fuel education $60.8M and clinical care that Donations to Research: 1,304 Collaborations with 22% The Foundation benefits patients researchers and 500 institutions of patients treated research staff in over in Clinical Trials all around the world. 100 countries $41.6M The Princess Margaret Leading to Home Lottery net revenue Treating $140M 7, 879 Net Fundraising and Care: 200+ patients in Clinical Lottery Revenue types of cancer 82,571 Research Studies patients cared for $18.2M Enbridge® Ride to Conquer Cancer® $1.2M Doves of Hope $3.6M Education: 270 176 146 OneWalk $3.1M research trainees fellows residents to Conquer Cancer Scotiabank Road Hockey to Conquer Cancer Message From Our Leaders 4 Invest in Research 20 Board of Directors The PMCF 34 Delivering the Plan 6 Look Who’s Leading the Way 21 Lara Brown: Determined to Tell Her Story 35 All Events Lead to the Same Finish Line 8 2020 Year in Review 22 Board Committees 36-37 Michael McCain: Trailblazer 10 Till & McCulloch Society 24 Our Donors 38-49 Contents Hold’em For Life is All-In 12 Sharon Mohip ‘Shake the Disease’ 26 JCB Grant Society 50-51 Agnico Eagle: Setting the Standard 14 Karen Maidment: Built to Conquer 28 Expendable Funds List 52-53 2020 Annual Report Thank You, Dr. Mary Gospodarowicz 16 Multiple Myeloma: Moving Together 29 Endowed Funds List 54 Welcome Back, Dr. Keith Stewart 17 Financial Summaries 30 Special Events 55 Key Initiatives 18 Research Chairs 32 Supplier List 56-57 Space Transformation 19 Board of Directors UHN 33 Page | 2 Page | 3 Message From Our Leaders Message From Our Leaders Message From Our Leaders History is written at The Princess Margaret. From the urologic cancer research by providing high-quality identification of the stem cell by Drs. Till and McCulloch specimens and clinical data to researchers here in the 1960s to Dr. De Carvalho’s 2017 discovery of a in Canada and around the world. The Princess mechanism that could potentially trigger an immune Margaret Home Lottery also set a new record this response to fight colorectal cancer cells, we have year by delivering our largest lottery in history with always been driving innovation. We continue to break $41.6 million in net revenue while The Enbridge® down barriers and forge into new territory, despite Ride to Conquer Cancer® raised an impressive $18.2 uncertainties that may lie ahead. We have always had million. To accompany our Foundation’s fundraising the Courage to Conquer. success, we also realized $29.7 million in returns from our investments in the commercialization of two Now we are in a new period of history, one full of cancer drugs developed at The Princess Margaret. uncertainty. The unprecedented COVID-19 pandemic That money will now be reinvested in research and has impacted the entire world, bringing with it challenges innovation at our research institute. that none of us expected. But one thing is certain: cancer has not stopped with the spread of COVID-19, Despite our progress, we know that COVID-19 has and neither will we. brought uncertainty and concern. Our Board of Directors remains committed to ensuring that our organization This year we delivered the first phase of our strategic is strong and resilient, with diversified fundraising plan, built on the strong legacy and foundation we programs, strong internal operations and robust have in place. Our focus has been positioning our governance so we can continue to provide our world- organization to aim higher, reach further, and deliver leading clinicians and researchers with the resources on our mission to enable Future Care Now at The they need to remain at the forefront of transformational Princess Margaret. progress. As one of the top 5 cancer research centres in the world, we are relentless in our pursuit of The Princess Margaret Cancer Foundation hit a groundbreaking cancer research and innovation. milestone in 2020, with $140 million in net fundraising and lottery revenue. We expanded our national This year has presented challenges that none of us and international fundraising partnerships to set anticipated, but the funds raised by our programs the groundwork for broader impact in the years to will move us forward as we write this new chapter come, including a $10 million commitment from in cancer research history. We’d like to thank our Michael McCain to expand the McCain GU (Genito- donors, volunteers and community members for their Urinary) Biobank and a $2.5 million donation from dedication, generosity and support. Together, we Maple Leaf Foods that started The Frontline Fund. remain fearless in our Courage to Conquer. The Biobank will advance internationally leading Janice Fukakusa, Board Chair of The Princess Margaret Cancer Foundation and Michael Burns, President & CEO of The Princess Margaret Cancer Foundation Page | 4 Page | 5 The Plan The Plan Delivering the Plan to Enable Future Care Now at The Princess Margaret A lot has happened in the past year, around the world and commercialization revenue, The Foundation as well as here at The Princess Margaret Cancer generated a total of $140 million – our highest net Foundation. But our mission remains the same: enable revenue ever. Future Care Now by raising funds that accelerate cancer research, education and clinical care that benefits In addition to delivering on our fundraising programs, patients at Princess Margaret Cancer Centre, across our internal focus has been on elevating the fundraising Canada and around the world. capacity of our organization so we can accelerate groundbreaking cancer research and care. This year In fiscal year 2020, we delivered the first year of our we completed a full review of our governance program, new Foundation strategic plan – Strategic Plan 2025: began developing new fundraising programs that would The Roadmap to Enabling Future Care Now. create more opportunities for donors to support The Princess Margaret, and delivered critical work that Signing ceremony at The Princess Margaret for the collaboration agreement with A.C. Camargo Cancer Center in Sao Paolo, Brazil. We are committed to ensuring that our modernizes our internal systems and positions our organization continues to be resilient and organization for growth. designated research centres that will share knowledge, we can’t stop there. We will need the sustained support positioned for growth, and is the most harness technology and improve collaboration toward of our donors and volunteers to ensure that sufficient impactful place a donor can invest for the We have also recruited new talent, with strong finding cures for cancer. We also began discussions funding exists to continue to create Future Care Now as future of cancer care and research. functional expertise and a deep commitment to our with The XPRIZE Foundation, the Davidoff Cancer we endure this global pandemic. mission. We continue to strengthen our team by Centre in Israel, and A.C. Camargo in Brazil, with the Our generous donors deepened their commitment this recruiting leaders from the private and charitable objective of developing fundraising projects to support Cancer has not stopped because of year to support leading-edge cancer research and care sectors, and we are working to bring greater diversity collaborative research and accelerate the global cancer COVID-19, and neither can we. at The Princess Margaret with more than $60 million in to our management and Board. Within our Foundation research of our respective organizations. donations to The Foundation. The Princess Margaret team, 47% of staff are visible minorities and 72% are We are committed to strengthening our organization to Home Lottery set a new record again this year, with the women; 63% of roles, director and above, are held by If the COVID-19 pandemic has taught the charitable elevate the impact of donor funds at Princess Margaret largest lottery in the history of The Foundation, raising women. This diversity brings us significant strength, sector anything, it is that we must be more resilient Cancer Centre and beyond, and we are driven to deliver $41.6 million in net revenue. The Enbridge® Ride to but we must continue to drive toward greater diversity to uncertainty and unprecedented events. Charities on our aspiration to become Canada’s most respected Conquer Cancer® raised an impressive $18.2 million, and inclusion, specifically within senior management have long been solely evaluated on their expense charitable foundation where people want to give, work leading the way to more than $32.4 million gross revenue and our Board of Directors, and we are committed to ratios, with less consideration for their ability to fulfill and volunteer. across all our events. To accompany our Foundation’s championing this in the year ahead. their mission and deliver impact over the long-term in fundraising success, we also realized $29.7 million in partnership with generous donors and supporters. Our We continue to believe that the most impactful place returns from our investments in the commercialization of Finally, we have begun to develop national and Board of Directors has ensured that our organization in the world that a donor can make an investment in two cancer drugs developed at The Princess Margaret. international fundraising partnerships to strengthen is well positioned to withstand this shock, and that Conquering Cancer is at The Princess Margaret. We That money will now be reinvested in research and our impact in global cancer research. This year we we can continue to fund ground-breaking research thank our donors, volunteers, and community members innovation at our research institute. With the total net announced our partnership with The Marathon of Hope and discovery taking place at The Princess Margaret for their continued support, and for partnering with us revenue from fundraising, net revenue from the lottery Cancer Research Network, a pan-Canadian network of despite the challenges presented by the pandemic.
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