Treasurer, National Board of Directors
For the fiscal year ending March 31, 2016, The Children’s Wish Foundation of Canada recorded an increase in revenues of 1.8%, from $23.98 million in fiscal 2015 to $24.40 million this year.
The Foundation recorded a 22% increase in the number of wishes granted to children with life-threatening or complex genetic or neurological conditions. With the approval of the Board of Directors, we operated under a fiscal deficit for the year in order to ensure that no eligible children were denied their most heartfelt wish.
In line with the increase in wishes granted, our wish expenses increased by 23%, from $13.86 million to $17.05 million year over year.
Our overall fundraising ratio is 35%, but that decreases to 26% after factoring out costs and revenues associated with our lotteries. Our administrative costs ratio stands at 13%.
Organizationally, we undertook several initiatives this year to enhance further our operational efficiency. We were rigorous in examining every opportunity to decrease costs. We spent prudently and responsibly, while ensuring we fulfilled our mandate.
The business of wish granting is more complex than ever, as such, our financial needs are greater than ever. We have seen a 17% increase in wish children referrals. Already, more than 80% of our resources have been put aside for approved children who are either awaiting completion of treatment or have not yet chosen their wish.
Looking ahead to the coming fiscal year, our focus will be three-fold. We will continue to;
• fulfil our mandate as the leading wish granting organization in Canada to support eligible wish children by granting their most heartfelt wish;
• manage expenses diligently by pursuing operating efficiencies across the organization;
• pursue our development strategies in order to ensure we generate the revenue required to grant more wishes to more deserving children.
We look forward to the coming year with optimism and a strong commitment to working with the healthcare community, our donors and partners to bring the power of a wish to many more children and families. We thank you and hope we can continue to count on your support.