2006 Canadian Orthopaedic Foundation Financial Report

Kevin J. Orrell, M.D., FRCSC
Treasurer, Canadian Orthopaedic Foundation
Sydney, NS

The Board of the Canadian Orthopaedic Foundation reviewed and approved the audited statements for the period ending March 31, 2006, at its recent Board meeting.

A transition year, the fiscal year ending March 31, 2006 has unfolded as planned. The transition has prepared the Foundation to move into 2007 with the new funding structure designed to address fundamental revenues and expenses for fund-raising. Financial results of the past three years initiated the review of the Hip Hip Hooray! business model and prompted the decision to review the funding model.

Total revenue for the Foundation was up 12 percent. Hip Hip Hooray! income was up 12.6 percent while sponsorships and direct donations were up 9.6 percent. Direct donations include dollars for the Canadian Orthopaedic Research Legacy.

Overall expenses were up 10.5 percent reflecting an increase in Hip Hip Hooray! site disbursements and administrative costs. Throughout the fiscal year 2006 the Foundation concentrated on reducing costs for Hip Hip Hooray! and we are pleased with the efforts in this regard which resulted in $46,000 in savings. To deliver on our mission of achieving excellence in research and education, grants and awards were increased by $36,000. Once again, however, the Foundation finds itself in a deficit position.

The Foundation is focussed to become less reliant on high expense ratio events and the Board's strategic plan is looking at new and additional revenue streams to enhance our ability to deliver on our mission.

While the federal and provincial governments have focussed on reducing the wait lists for joint replacements, there is still much work to be done to meet the demands for all orthopaedic services in the future. The Canadian Orthopaedic Foundation has become a responsive, patient-focussed national health charity that aspires to be your partner in patient care. We're building programmes and services to meet the needs of patients, complementing and extending the care provided in your office.

The Foundation continues to improve its web site in terms of content and providing basic information on the most common orthopaedic procedures. With the addition of a Patient Education section, visitors can access desired information by clicking on their joint of interest on a diagram of a skeleton. This section contains information on hip and knee anatomy, hip and knee replacements, hip fractures, arthroscopy and ACL repair. We'll be adding more - rotator cuff (shoulder) repair will be added shortly and then paediatric, likely clubfoot, information.

The Patient Resources section has also been improved so that visitors can locate information more quickly. New to this section is a page for Ortho Connect - our peer support programme, and patient stories. The web site's page has also been improved with the addition of government web sites related to wait times.

Ortho Connect is a telephone-based peer support programme that matches current patients with a trained volunteer - a past patient of similar treatment - and enables them to talk through questions and concerns. The support is intended to provide practical insight into what to expect, how to prepare their home and their life, and to ease a patient's anxiety about their upcoming surgery. Ortho Connect is an extension of the expert care and reassurance surgeons provide to their patients. Feedback from patients confirms that this programme is what many patients seek.

Check out the new functionality and content of our web site and let your patients know about these valuable resources.

The Foundation now has an annual report which can be viewed online at http://www.canorth.org/, or you can request a hard copy by calling 1-800-461-3639 x 3. A detailed summary of the Foundation's financial statements is available on request to any COA member by contacting the Foundation's office.