Page 5 - TOH_Impact Report 2022-2023

Keith Quinn MNZM, Patron, Te Omanga Hospice Foundation
CHAIRPERSON’S REPORT
TE OMANGA HOSPICE FOUNDATION
The Te Omanga Hospice Foundation was established in 2005 to provide financial support to the Te Omanga Hospice Trust for its work providing palliative care to people, living in the Hutt Valley, with a terminal or life-limiting illness.
Funds invested by the Foundation help the Hospice to meet the deficit between government funding, funds raised, and what it costs to run our service. The Foundation ensures the Hospice's sustainability, particularly through adverse economic cycles and unexpected events.
The value of the investment fund was up 0.49% (benchmark 1.29%) during the year due to markets being impacted by the prolonged war in Ukraine, rising costs with significant inflation which impacted the confidence of global markets and a slowdown in economic growth. This lower return, together with rising operational costs (particularly staffing costs) may impact the Foundation’s ability to support the Hospice in future years. We must remain focussed on growing the balance of the fund with a strong and robust investment strategy supported by fundraising and new bequests.
Despite a challenging investment environment, the Foundation has been able to support the Hospice with funding its operating deficit. The Foundation also continued to support professional development through the Jean Murray Nicholson Scholarship and research projects through the Murray Bond Research Fellowship.
This has certainly been another challenging year for the Hospice on many levels. It was heartening to see how well the Hospice team continued to navigate its way through these challenges to ensure patients and families received excellent care.
The Trustees thank the Chief Executive, Biddy Harford, the Executive Leadership team and staff for the excellent care and support they continue to give to patients and their families.
I wish to record my personal thanks to my fellow trustees, Sam Knowles, Gerard Dewar, and Judy Bain for their ongoing support and expertise through another challenging year.
On behalf of the Trustees, I thank our community for their continuing support for Te Omanga Hospice, and in particular I would like to acknowledge those supporters who make an annual financial pledge, donation or bequest to the Foundation.
Gavin J Murphy JP DipFS
Chair
Te Omanga Hospice Foundation
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