What have we done
with your money?
2008/2009 Highlights

INVESTMENT PORTFOLIO:

The poor performance of the world financial markets during our 2008/2009 fiscal year negatively affected portfolio performance across the board. The Finance Committee, throughout this period, maintained due diligence and in November 2008 undertook a complete review of the Foundation's investment portfolio. You will note that our audited financial statements for the year ended March 31, 2009 indicate an unrealized loss in our investment portfolio of $184,000. As at August 31, 2009 we have seen a $130,000 recovery in our portfolio. As reported at AGM 2008, the Foundation's monthly income statements now track our portfolio's unrealized gain or loss as a separate line item on our statements for ease of monitoring. The Finance Committee notes that our portfolio strategy is to invest for the long term and we have put aside $550,000 in a guaranteed short-term investment certificate to meet upcoming commitments. Our restricted endowment fund principals have not been eroded and we have budgeted for grants from the income of these donor restricted endowment funds for the 2009/2010 fiscal year. (As at September 28, 2009 our investment portfolio is showing a $3,012.65 unrealized capital gain!)

DONATIONS AND GRANTS:

In October of 2008 the Foundation launched the 3 R's Campaign with a goal to raise $800,000. This Campaign builds on our successful Comfort Care Campaign and will see the continuation of upgrades to bathing rooms, visiting areas, palliative care rooms and gardens at the facilities we support. As noted by Linda Jones in her President's report, this new campaign aims to Reach Out into the community to support valuable programs and education; Respect our elders through the creation of legacy funds to provide for the future; and Renew aging care facilities and equipment.

For fiscal 2008/2009, the Foundation provided grants totalling $347,008 as follows:

Equipment - $212,530

In fiscal 2008/2009 the Foundation purchased 3 specialty wheelchairs, 6 adaptive wheelchair pads and 11 custom wheelchair cushions. We also purchased 2 four-wheeled walkers for the residents at Heritage Woods.

Mattresses are always on our wish list and are important in helping to reduce skin breakdown and provide a good nights sleep for the residents. This year the Foundation purchased 120 Therearest mattresses for the residents in our care facilities.

Lift Transfer Devices are still a priority for the Foundation as we work to replace older models with the latest technology available. These newer lifts are better at accommodating the changing needs of our residents while at the same time providing added protection from injuries for nursing staff. This year the Foundation purchased 6 Sara 3000 lifts at a cost of $5,300 each, and 1 Maximove at a cost of $13,200. These mobile lift transfer devices are used to transfer residents from bed to chair to toilet and are constantly in demand. We also purchased a $12,000 Alenti Lift, which is specially designed for use with the new tub we purchased for Oak Bay Lodge.

Therapy equipment needs have increased over the years and the Foundation has, thanks to our generous donors, been able to provide many new and innovative pieces of equipment to help residents improve their strength, mobility and balance. This year the Foundation purchased 3 Motomed exercisers at a cost of $10,000 each. Aberdeen, Mt. Tolmie and Heritage Woods each received a new Motomed. As well, the Foundation purchased a variety of small therapy items such as a parachute canopy for mobility and coordination, anti-fatigue floor mats, and foot cradles to help meet the therapy needs of our residents.

Other items were purchased for resident use and enjoyment such as a heavy-duty blender for Glengarry's Fairfield Unit, an Icemaker Dispenser for Glengarry's Chandler Unit, a new washing machine for Aberdeen's Hillside Unit, a new fridge for Mt. Tolmie's dining room, and a new fish tank for the Piercy Respite Hotel.

Gardens - $40,107

Gardens have always been important to the Foundation and this year was no different. The Foundation completed work on two major garden projects this past year. On August 11, 2009 a garden party was held to celebrate the completion of the newly upgraded Lansdowne Patio Garden. The Lansdowne Patio project included a $37,000 shade structure (accrued in fiscal 2007/2008), new furniture, a wheelchair accessible picnic table, raised planters for the resident therapeutic gardening program, a new BBQ, fresh paint and plantings for a total project cost of $50,000.00. On September 1st 2009 we officially opened the newly upgraded Priory A & B Patio Gardens and the newly created Auxiliary Walk secure walking path linking those two gardens. A $20,000 grant was received from the Juan de Fuca Hospitals Auxiliary towards the construction of the Auxiliary Walk. The total project cost for this lovely garden space was $72,500.00 and includes a wheelchair accessible picnic table, patio furniture, a new retractable awning, raised garden beds, 4 park benches, deck upgrades for wheelchair accessibility, plants and, of course, the secure Auxiliary Walk garden path. The park benches cost $1,200 each and are made from plastic composites and spun aluminum to easily last 20 years or more! The Foundation also purchased 2 WhisperGlide wheelchair accessible swings at a cost of $6,500 each. One swing went to the Priory's Hiscock garden and one went to Oak Bay Lodge.

Renovations and Furnishings - $27,232

Thanks to individual donors and funds raised through the Rotary Club of Oak Bay's Embrace Aging Month Celebration Concert, we were able to replace one of the outdated tubs at Oak Bay Lodge with a new Arjo Rhapsody Bathing System Tub. New roller blinds were installed in the dining room of Glengarry's Fairfield unit helping to create a more comfortable dining and activity space. Aberdeen's Lansdowne bathing room received a complete makeover last year and we purchased a new mesh bath chair to complete that project this year.

Resident Comfort, Entertainment &
Program Support Grants - $67,139

Thanks to individual donations and special grants from service clubs like the Odd Fellows and Rebekahs Extended Care Hospital Committee, funding for special treats, entertainment and outings were provided for the residents of all sites. Again this year, we were also able to provide Christmas gift bags for residents who otherwise would not have received anything Christmas day.

With the exception of Oak Bay Lodge who funds their own program, all sites provide music therapy that is funded entirely through donations made to the Eldercare Foundation. This year the Foundation funded a new program called ArtsWay, which provides a live professional performance art event monthly at Glengarry, Aberdeen, Mt. Tolmie, Priory and Oak Bay Lodge.

On October 27th, 2008 the Foundation treated 98 residents and family members to High Tea at the world-famous Fairmont Empress Hotel. Our guests from Glengarry, Aberdeen, Mt. Tolmie, Priory and Oak Bay Lodge were treated like kings and queens. This outing was one of the highlights of the year for our residents and we hope to be able to do it again with the help and generosity of our donors. Thanks to the Fairmont Empress Hotel for their contribution in support of this special outing.

Staff education continues to be an import element in helping to provide the best care for our residents. The Foundation was able to provide funding for staff education totalling over $13,000 this past fiscal year.

The following programs and facilities received funding support thanks to the generosity of Eldercare's donors: West Shore Adult Day Centre, Mobile Adult Day Program, Oak Bay Lodge Adult Day Program, Community Bathing Program, Piercy Respite Hotel, Yakimovich Wellness Centre, Pastoral Services and Volunteer Services.

In March of 2009, the Foundation's Embrace Aging Month initiative celebrated its fourth successful year building awareness and connecting seniors and their families to the wealth of resources in our community. As part of Embrace Aging month, the Foundation partnered with the Yakimovich Wellness Centre to host a series of educational workshops and seminars on health and aging for the public. Embrace Aging Month wrapped with a successful fundraising concert featuring the Victoria Soul Gospel Choir hosted by the Rotary Club of Oak Bay.

CONCLUSION:

In conclusion, I would like to thank my fellow Finance Committee members Pat Crofton, Nancy Davy, Ed Mann, George Penwarn, Neil Watson and Linda Jones. Your expertise and dedication is very much appreciated by our donors and stakeholders. I would also like to thank the Foundation's bookkeeper Marie Peach for her expertise, guidance and attention to detail.

Respectfully submitted,
Chuck Loveless, Volunteer Treasurer