Over the past twelve months, the Board has successfully steered the Intensive Care Foundation towards stability and financial health. The organisation achieved an operational profit by bolstering fundraising efforts, increased donations, and implementing a restructured and virtual operational model. This model entrusted directors with increased responsibilities, leading to a reduction in direct labour costs.
A pivotal accomplishment during this period was the improved operational performance, whilst facilitating payment of $266,828 in research grants. This significant increase in grant payments can be attributed not only to emerging from the challenges posed by the pandemic but, more importantly, to a heightened Board focus on delivering grant funds. Illustrating this commitment, the contingent liability for unpaid grants decreased from $629,000 to $338,000. This reduction underscores the Board’s dedication to fulfilling its promise of providing research grant funding to stakeholders. Detailed financial information is available here.