2023 Business and Financial Summary
Income:
2023 was a record year for income in St. Vincent’s Foundation (SVF) with total receipts of €1,647,135. The source of the funds is set out in the chart below. The biggest contributor was Donations followed by Fundraising proceeds and Bequests. In-memory donations were also very important
Receipts throughout the year were very strong with €580,145 of the total received in the first half and €1,066,990 received in the second half. This latter figure was significantly affected by two donations totalling €750,000 towards the development of the new Simulation Laboratory (SimLab) in St. Vincent’s University Hospital. This will be a major addition to training and development of medical staff.
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.
Most of the money we received was restricted to particular medical areas or specific projects. The latter was largely related to the SimLab. In total, €1,560,694 of funds received were restricted to specific causes with €86,441 unrestricted.
Individual details of all receipts are shown on the website
Grants:
During the year we made grant disbursements of €855,849
- €455,018 of total grants was provided to purchase Equipment and Software for patient treatment and support.
- €227,868 was contributed to Medical Education and Research projects.
- €172,963 was spent on Patient Care.
Total grants in 2023 showed a significant increase of 94% on 2022.
All Grants are shown separately on our website
Principal Grant Allocations:
- €172,000 for PsychoOncology service in St. Vincent’s Private Hospital supported by a Donor Family
- Robotic Medication Compounding system for Cancer treatments €100,000
- Enhanced diagnostic equipment for E.N.T. Department €85,000
• A new automated correspondence system for SVUH €73,000
• Post Graduate Education €70,000
• Obesity Research €50,000 in partnership with Maynooth University
Expenses:
St. Vincent’s Foundation continues to operate on a voluntary basis with no salaries or wages. Costs showed a marginal increase of 2.5% from €19,975 in 2022 to €20,479 in 2023.
Principal expenses are fees for accounting, legal and insurance; website hosting and maintenance and production of our donor’s magazine Friends of St. Vincent’s. Travel costs, telephone costs, commission payments to iDonate for online donations, and financial charges make up the balance.
Full details of the 2023 accounts will be available here shortly.
2019 SVF accounts file