princess alexandra hospital foundation

38 Pages·2017·1.31 MB·English

by  Karen Blackmore

2017 Annual Report

1 PA Research Foundation Annual Report and Financial Statements 2016 – 2017
Contents

Glossary 4
PA Research Foundation Overview 5
Chairman’s Report 6
Board Members and Staff 7
Corporate Governance 8
Performance against strategic plan 10
2017 Research Support 12

This document is available in electronic format at www.pafoundation.org.au

PA Research Foundation
199 Ipswich Road, WOOLLOONGABBA Q 4102
Phone: [phone] Fax: [phone]
Email: [email protected]
Web: www.pafoundation.org.au

ISSN 1839-5554

© PA Research Foundation 2017

Hard copies of this report are available on request to the PA Research Foundation

If you have difficulty in understanding this report, please contact the PA Research Foundation on
07 3176 7301 and we will arrange to have it translated.

Open Data – Information relating to consultancies and overseas travel has been published on
the Queensland Government Open Data website (qld.gov.au/data)

2 PA Research Foundation Annual Report and Financial Statements 2016 – 2017
Compliance Letter

8 September 2017

The Honourable Cameron Dick MP
Minister for Health and Minister for Ambulance Services
GPO Box 48
Brisbane Qld 4001

Dear Minister Dick

I am pleased to present the Annual Report 2016-2017 and financial statements for the PA
Research Foundation.

I certify that this Annual Report complies with:

• the prescribed requirements of the Financial Accountability Act 2009 and the Financial and
Performance Management Standard 2009, and

• the detailed requirements set out in the Annual report requirements for Queensland
Government agencies.

A checklist outlining the annual reporting requirements can be found on page 23 of this annual
report.

Yours sincerely

Robert Bowen
Chairman

PA Research Foundation Annual Report and Financial Statements 2016 – 2017 3
Glossary

Term Definition
Foundation PA Research Foundation
Statement by the Foundation as to how it wishes to be
Vision perceived by clients, stakeholders and the community

Mission The statement that drives us to achieve the vision
Agreed main theme to inform all action: from Board to
Strategic Objective operational levels

Specific metric for achievement
Strategic Goal

Specific metric for achievement of target
KPI

PA Hospital Princess Alexandra Hospital
NHMRC National Health and Medical Research Council
ARC Australian Research Council

4 PA Research Foundation Annual Report and Financial Statements 2016 – 2017
Research for Life

Vision Better health for all and a community free from diseases

Mission To raise funds to bring medical research to life in order to prevent and cure
disease at Australia’s leading translational research precinct – birthplace of
the world’s first ever cancer vaccine

The PA Research Foundation raises funds for groundbreaking, lifesaving research—to develop
better diagnoses, treatments and preventions for some of Australia’s biggest health challenges.
This research reduces human suffering and enhances quality of life; it reduces the burden on
already stretched health care budgets, and fosters Australian ingenuity and industry.

The Foundation was established in 1984 under the Hospitals Foundations Act 1982. Each year
provides the Foundation with new opportunities to fund exceptional research projects proposed
by the many talented and dedicated clinicians, scientists, nursing and allied health professionals
on the Princess Alexandra Hospital campus.

Funds directly benefit the PA’s groundbreaking research projects in areas such as cervical
cancer, prostate cancer, skin cancer, leukaemia, breast cancer, heart disease, immunology,
kidney disease, diabetes, liver disease, transplantation and arthritis. All research funded by the
Foundation goes through a rigorous selection process to ensure it is of genuine scientific merit,
and does not replicate any other research anywhere in the world. All funds raised therefore
contribute to the highest calibre research, to tackle some of the most challenging health
problems facing us as a nation.

Thanks to the donations of PA Hospital patients, staff, individuals, families, communities and
businesses—millions of dollars have been raised—this research has improved the lives of
literally millions of people around the world.

The PA Research Foundation would like to take this opportunity to thank the PA Hospital for
their ongoing support and commitment to the Foundation. We look forward to working with you
further in the future, as we continue to foster amazing medical discoveries.

PA Research Foundation Annual Report and Financial Statements 2016 – 2017 5
CHAIRMANS REPORT

Raising funds for ground breaking medical research has been the key focus of the PA Research
Foundation since its establishment over 30 years ago. Our support provides seed funding for
projects and people who are building their research careers and gap funding to ensure
significant projects can continue.

In preparation for a move towards a new donor directed, innovative funding model the
Foundation reduced our research grant contribution. The grant funding allocation has been held
to support the new grants for distribution in 2018. Our direct support for research on the campus
still increased with dedicated funding for tied projects increasing from $600,000 to over
$700,000.

This financial year the Foundation achieved gross income over $3.73million which was
approximately $300,000 below budget. The difference attributable to a $400,000 bequest that
was notified prior to the start of the financial year and not received prior to 30 June. Our
operating result, before research support payments was result excluding research payment was
$653,375.

Investing in acquiring more donors and supporters has resulted in an increase of over 5,000 new
donors and more than 300 regular monthly donors. To each of our donors, thank you for your
continued contribution to the great work and achievements of our research community. To our
growing team of corporate partners and sponsors, thank you on behalf of the Foundation for
your participation in our community fundraising activities.

In conclusion, I would like to thank our dedicated staff in the Foundation office and my fellow
Board members for their time, dedication and guidance throughout the year.

With your support, I look forward to continuing to facilitate life saving health and medical
research and improvement in the health of our community.

Robert Bowen
Chairman

6 PA Research Foundation Annual Report and Financial Statements 2016 – 2017
Our Board

Name Position Appointed Until
Mr Robert Bowen Chairman June 2017
Mr Bill Deutrom Deputy Chairman September 2018
Mr Terry White OAM Statutory Appointment
Professor Ian Frazer September 2018
Mr Andrew Griffiths September 2018
Prof. Ken Ho Chair – Research Committee September 2018
Mr Mark Mazurkiewz Chair – Finance and Risk Committee September 2021
Dr Stephen Ayre Resigned July 2017
Ms Karina Collins Resigned Jan 2017
Ms Alison Haly Resigned April 2017

Honorary Solicitor Mr Michael Back
Board Secretary Ms Narelle Smith

Foundation Staff

Damian Topp Chief Executive Officer

Simone Plunkett Chief Operating Officer

Sarina Di Sano Administration Manager

Kerstin Petrick Accounts Manager

Alex Gregg Media and Communications Manager

Bruce Nean Digital and Community Fundraising Manager

Lauren Tot Digital and Community Fundraising Coordinator

Simone Owens Individual Giving Program Manager

Imogen Bennetts Fundraising Manager

Luke Cridland Donor Steward and Community Fundraising Support

Sharnie Cocks Donor Steward and Community Fundraising Support

Sandra McInnis Administration Officer

Ellan Dan Administration Assistant

PA Research Foundation Annual Report and Financial Statements 2016 – 2017 7
Corporate Governance

The PA Research Foundation is a statutory body incorporated under the Hospitals Foundations Act
1982 (QLD). As a statutory body the Foundation is subject to the provisions of the Financial
Accountability Act 2009 (QLD). The Foundation is audited annually by external auditors representing
the Queensland Audit Office and the Auditor General.

The Foundation is endorsed by the Australian Taxation Office as an Income Tax Exempt Charity (ITEC)
and is a Deductible Gift Recipient (DGR) under the Income Tax Assessment Act 1997 (Cth). It is
endorsed for GST concessions under A New Tax System (Goods and Services Tax) Act 1999 (Cth)
and it is exempted under the Fringe Benefits Tax Assessment Act 1986 (Cth).

The Role of the Board

The Board and management have been entrusted with the responsibility of ensuring that monies
provided by donors, sponsors and the general public are effectively and efficiently managed. Board
members serve in a voluntary capacity and therefore receive no fees for their services on the Board
or Committees. Board meetings are held four (4) times per year.

• Maintaining high levels of accountability to our stakeholders and external regulators and
ensuring the Foundation acts legally, ethically, responsibly and openly
• Monitoring the performance of the CEO
• Raising organisational awareness of the external environment
• Ensuring compliance with statutory, financial, social and corporate governance
responsibilities
• Providing strategic direction and developing, examining and approving strategies, policies,
plans and budgets
• Monitoring risk and ensuring the presence of adequate risk management controls and
reporting procedures
Sub-committees

Finance and Risk Committee

This committee meets two (2) weeks prior to each board meeting. The objectives of the committee are:
• Ensuring that the foundation operates to an agreed budget and that all liabilities and financial
commitments are brought to account in the relevant year
• Monitor the status of investments
• Ensure there is an adequate internal control system to promote operational efficiency and to
minimise financial risk
• Monitor the balance sheet and profit and loss statements quarterly and report to the Board

Strategic Partnerships Committee

This committee meets every three (3) months to develop new opportunities and provide access to
networks that will grow the Foundation’s recognition and income.

Research Committee

This committee meets prior to the annual call for research grant applications to develop the criteria and
categories for the PA Research Support Scheme. It is then convened at regular intervals to assess
and recommend grant recipients to the board.

8 PA Research Foundation Annual Report and Financial Statements 2016 – 2017
Executive Management

The Board delegates responsibility for implementing strategies approved by the Board and day-to-day
management to the Chief Executive Officer, who in turn is accountable to the Board.

Challenges and Opportunities

The constant challenge facing all charities is in maintaining and growing philanthropic support in a
depleted market. Without the access to manage the revenue producing assets that other hospital
foundation’s have it increases the pressure for the Foundation to strive for best fundraising practice.

For the 2017-2018 financial year the focus will be on increasing our activity in major gifts and
bequests. A continued focus will be on gaining support from national and international markets.

Internal Audit

Should an internal audit be requested by the board a committee is convened comprising the
Chairman and at least 2 other board members. For the 2017 financial year no internal audits were
conducted.

Workforce

At the conclusion of the 2017 financial year the Foundation had 11.5 Full Time Equivalent (FTE)
employees. The retention rate for the Foundation is 100%.

The Foundation invests time in ensuring all employees participate in performance development as
part of their KPI’s. Annual reviews are held with each employee that identify performance and
development gaps and celebrate successes.

Assistance is provided to all employees to provide flexibility for return to work either after
maternity/paternity leave or injury. Senior staff participate in planning and development meetings with
the CEO on a monthly basis to develop their skills for future leadership.

All employees are engaged through individual agreements that represent conditions either in line with
or greater than current industrial relations minimums.

Succession planning is in place with investments made in transitioning the Fundraising and
Marketing Director to a Chief Operating Officer position with increased responsibilities for planning
and strategy in preparation for a Chief Executive Officer role.

During the financial year there were no early retirements, redundancies or retrenchments.

Planning and Performance

The Foundation has a Strategic plan for the period 2017-2020. The plan addresses four key strategic
target areas. The strategic plan informs annual operational business planning. A summary of
progress against the strategic plan is highlighted on the following page.

PA Research Foundation Annual Report and Financial Statements 2016 – 2017 9
PA Research Foundation Strategic Plan 2012 - 2017

Strategic Target Area Key Strategic Issues Strategic Targets Progress

1. Outcomes 1.1 Need to Increase funding for new 1.1.1 10% increase in research grant $720,000 was committed to the 2015 Research
research allocation per year Grants compared to $650,000 in 2014. 11%
1.1.2 $1million grants funded from 2016/17 increase
1.2 Lack of awareness of PARF supported 1.2.1 10% increase in grant applications from
research 2015

2. Financial Sustainability 2.1 Need to Increase net income 2.1.1 $2 million net income by 2016 2015 net result before grants $2.1 million

2.2 Explore new funding sources 2.2.1 2 new programs and or commercial 2013 became Dry July beneficiary and
opportunities established each year implemented endowment campaign. 2015
partnered with 2 new corporates

3. Awareness 3.1 Need to Increase Brand Awareness 3.1.1 100% PA Staff recognise PARF by 2014 Bench marking to be established by end 2013
75% PA patients recognise PARF by
2015
3..2 Grow and Strengthen Partnerships 3.2.1 At least one recognition event held for Donor recognition held as part of community
donors and corporate partners each year forums in March and August each year. Post
campaign “thank you” held for Mandate, ALH
Breast Cancer and Duck Race sponsors.

4. Systems and Innovation 4.1 Lack of Adequate systems and 4.1.1 Bi-Annual review to be conducted of key Internal review of Information Technology (IT)
processes systems from 2013 completed and database and direct mail review
completed October 2013. New IT system
implemented December 2014.
4.2 Embrace new technologies and 4.2.1 Incorporate at least one new technology Added electronic ticketing for Duck Race tickets in
innovative thinking that reduces cost and or improves 2012 and automated Duck Race fundraising
outcomes each year from 2011 through Go Fundraise from 2013.

5. Our People 5.1 Recognise, reward and retain quality 5.1.1 Annual Performance appraisals in place Annual review program established
staff by 2012
5.1.2 100% staff attend at least one training The 8 full time and 1 part time staff attended a total
and development activity per year of 12 development activities.

5.2 Need to develop opportunities for 5.2.1 Register of volunteer roles developed First roles developed in 2011. Event specific roles
volunteers and added to from 2012 added to register in 2012 and 2013

.

10 PA Research Foundation Annual Report and Financial Statements 2016 – 2017