Financial

North Okanagan Hospice Society relies on our partners: Interior Health Authority, the Province of British Columbia and the residents of the North Okanagan to provide Palliative end-of-life care services. Working together with our partners, we strive to achieve excellence in the delivery of quality end-of-life care.

Revenue Notes:

  • 59% of our financial support was received from the Interior Health Authority in the fiscal year.
    RISK: The funding falls short of direct operational costs and where grants, donations and fundraising do not cover the shortfall it is taken from reserves.
  • We are extremely grateful to the thoughtful members of our community who have supported NOHS with donations and bequests. These donations are as critical to the sustainability of the NOHS as our fundraising events and IH contract.
  • Fundraising was slightly more successful this fiscal year than last with the easing of COVID restrictions. NOHS was able to fundraise $124,791 thanks to sponsors, volunteers, and the community for supporting us.
    RISK: Donations and fundraising are unpredictable and due to the adverse effects of COVID on volunteer numbers and our community as a whole, this has resulted in increasing competition for fundraising dollars. NOHS will need to expend more effort to overcome and recover from these challenges.
  • NOHS recognized $100,854 in investment income, however investments were drawn down and values eroded by $157,767 in the fiscal year.
    RISK: Depletion of Reserve funds lowers investment income and reserve funds are limited and cannot sustain NOHS for more than 4 to 7 years.
  • Government wage subsidies were reduced to $245,530 this fiscal year, compared to the prior year of $612,282.
    RISK: The organization is expecting no funds in the next fiscal year for wage subsidies and will have to seek other revenue sources to offset this loss of income.


Operational Expense Notes:

  • Paid staff members include management, care staff, support staff and administrative and finance staff.
  • Wage costs were approximately 73% of the total costs at $1.92 million per year.
  • Our care staff and support staff are members of the BC Nurses Union (BCNU) and our collective agreement was ratified in December and remains in effect until May 31, 2025.
  • Operational costs such as utilities, repairs, groceries, and medical supplies are monitored closely to ensure that we are efficiently using all available resources.
    RISK: NOHS relies on Interior Health Authority (IHA) to fund our staff costs and the operational costs of the Hospice House. IHA funding does not reflect the actual cost of providing services at the House. NOHS is currently in negotiations with IHA on funding

View the audited Financial Statements for 2021-2022.