2017 Business and Financial Summary
During 2017 St. Vincent’s Foundation received total income of €814,209. These came from donations, bequests, fundraising events, donations in lieu of funeral flowers and other minor sources. This was an increase of 61% on 2016. The chart below demonstrates the full breakdown of funds received.
The first half of the year generated €520,918 of the total income, with €293,291 received in the second half.
The 61% increase was very welcome with substantial growth in Donations from Pharmaceutical companies and Philanthropic funds in support of research projects. There were also a record number of bequests totalling €140,900. Fundraising by a wide range of supporters and events continued to be very important as well as the very generous decision by many bereaved families to request donations to St. Vincent’s in lieu of funeral flowers.
Reclaims of taxation on donations are included in the overall donation figure.
€769,722 of funds received were restricted to specific causes with just €40,598 unrestricted.
Individual details of all receipts are shown on the website
During the year we made grant disbursements of €828,580. This is an increase of 232% over 2016. Often the variation in grant allocation is connected to timing of purchases or where a supported project is in gestation for some time. €500,614 of total grants was provided to support the acquisition of Medical and Surgical equipment. €327,906 was contributed to Research projects. The most significant single contribution in 2017, and indeed since the formation of St. Vincent’s Foundation, was a grant of €500,000 towards the Da Vinci Robotic Surgery system which is already proving a huge success.
All Grants are shown separately on our website
St. Vincent’s Foundation continues to operate on a voluntary basis with no salaries or wages. Costs therefore amounted to just €19,753 (2016 €21,761). Principal expenses are fees for accounting, legal and insurance, website hosting and maintenance and production of our twice-yearly donor’s magazine Friends of St. Vincent’s. Together these cost c.€10,000. Travel costs, telephone costs, commission payments to EverydayHero for online donations, depreciation and financial charges made up the balance.
The full details of the 2017 accounts will be uploaded here after they have been signed off by the Directors of St Vincent’s Foundation. This will be by the end of April 2018.