STEPS TO PROGRESS St. Luke’s Medical Center Foundation, Inc. 2018 Annual Report
THANK YOU ANNUAL REPORT 2018 FOR YOUR GENEROSITY! VISION Equal access to quality healthcare, greater opportunities for medical education, sustained support for medical research and training, to benefit the underprivileged Filipinos. MISSION To generate resources to sustain charitable, educational, and social welfare programs, and provide support for research and continuing medical education, and to promote the well-being of poor, marginalized, and gifted Filipinos.
St. Luke’s Medical Center Foundation, Inc.
ANNUAL REPORT 2018 “Our purpose and passion in improving 2018 was also the year we reached a new set of milestones: First off, the Foundation settled four local health regulatory accreditations this year: BIR tax exemption certification; PCNC re-accreditation valid for three continues to years; DSWD re-registration after three years; and the BIR Donee Institution re-certification for three years. be the driving Second, the St. Luke’s Foundation–together with force behind the Nursing Care Group of SLMC-QC and the DSWD– signed a landmark Memorandum of Understanding everything that initiated a community adoption program in Quezon City. 30 families from Barangay Baesa were we do” enlisted as beneficiaries and are recipients of the DSWD’s Pantawid Pamilyang Pilipino Program (4Ps). We are pleased to share to everyone that the Foundation was able to collect yet another Third, the Foundation with the Medical Social generous amount of donations from our donors in Service Department launched the Outpatient 2018. The combination of new donations and the Oncology Program to assist indigent patients of utilization of restricted donations from the previous the Cancer Institute of St. Luke’s Medical Center – years enabled us to forge new relations and continue Global City. This program covers the chemotherapy, supporting our core programs—all for the purpose screening, and other medical treatment costs of poor of providing equal access to quality healthcare for patients affected by this expensive disease. our less fortunate fellowmen. To be more specific, two companies came to our aid in supporting the And finally, St. Luke’s Foundation and St. Luke’s Foundation’s cancer patients and medical students. Medical Center – Global City unveiled the George This year, the Foundation spent the most in program K. Young and Florida Uytengsu Young Outpatient expenses at P18.5 Million with Medical Social Service Oncology, and the Ignacio B. Gimenez Stem Cell, securing the lion’s share of program expense budget. Rheumatology, Allergy and Immunology Center. Thanks to the kind hearts of our donors, their donation will greatly help social service patients and qualified medical students for Medical Scholarship. We continue to express our utmost gratitude to our generous sponsors, as well as the doctors and associates involved in making all these milestones possible. Our purpose and passion in improving local health continues to be the driving force behind everything we do and we hope for everyone’s unwavering support for the Foundation in the years to come. Sincerely, FREDERICK Y. DY Chairman of the Board ARTURO S. DE LA PEÑA, MD President 01
St. Luke’s Medical Center Foundation, Inc. OUR ROADMAP Starting from a small clinic in Tondo of conducting its charity programs. back in 1903, St. Luke’s Medical With robust funding, comes more Center eventually became one of the health programs that allow us to largest private hospitals that provide make an impact in people’s lives. free and quality medical services in the country today. With the St. Luke’s Medical Center birth of St. Luke’s Medical Center Foundation Inc. aims to reach Foundation Inc. in 2012, the hospital milestones every year, and this has stayed close to its humble annual report is a manifestation of beginning by its continuous service the hard work and dedication that in providing quality medical care to everyone involved has invested our underprivileged fellows. through our major programs: Thanks to the kindness and Medical Social Services, Medical generosity of our donors, the Scholarship, Medical Outreach, and Foundation gained a steady traction Medical Research P59,699,936 2017 Donation P45,796,837 income 2018 03 Medical Social 05 Medical Outreach 07 Medical 09 Medical Research Service Programs Programs Scholarship Programs & Development We provide care and We walk far and We hone bright minds We support doctors and treatment for those who wide to reach out and shape the future scientists in their plight are most in need to the underserved of medicine for discovery communities and innovation 02
ANNUAL REPORT 2018 03
St. Luke’s Medical Center Foundation, Inc. MEDICAL 2018 SOCIAL SERVICE P13,067,233 The health care system in the Philippines has come a long way in instituting various reforms Social Service and policies to provide easy access for every disbursement Filipino. While there is still much to be done, most hospitals already provide efficient and (twice the amount affordable health services to the best of their from last year) capabilities. With the Foundation’s Medical Social Service Program, indigent patients can 155 get full or partial subsidies for their medical bills as one of the ways to alleviate their burdens from being poor. 129 Cataract patients 17 Cancer patients 12 Medication Assistance patients 5 Diagnostic Procedures patients Surgery and Operation patients 318 Number of patients served in 2018. 04
ANNUAL REPORT 2018 MEDICAL 2018 OUTREACH PROGRAMS P1,052,663 Medical and surgical missions play an important role in the health system of the country. Out of Outreach pocket payments play a crucial constraint as disbursement to why millions of Filipinos lack access to basic health care. With the Medical Outreach Program, underserved communities are personally attended to and given free medical services by volunteer healthcare professionals. 10% Medical checkups SERVICES RENDERED 01 Cataract and consultations 02 Thyroidectomy 8% 26% 03 Cholecystectomy Minor operations 04 Oophorocystectomy 1% (circumcision and mass excision) 05 Hysterectomy 06 TAHBSO 55% Dental services 07 Herniotomy 08 Hernioplasty Cataract and Optha surgeries, 09 Hemorrhoidectomy including checkup and screening 10 Mastectomy Major operations (Thyroidectomy, Cholecystectomy, Oophorocystectomy, Hysterectomy, TAHBSO, Herniotomy, Hernioplasty, Hemorrhoidectomy and Mastectomy) 9,361 Number of patients served in 2018. 05
St. Luke’s Medical Center Foundation, Inc. 06
ANNUAL REPORT 2018 13 total medical student scholars who are Foundation-funded. 07
St. Luke’s Medical Center Foundation, Inc. MEDICAL SCHOLARSHIP PROGRAM Medical school can be an intimidating endeavor to take with the long years of studying and challenging activities ahead for an aspiring doctor. However, nothing beats a constrained budget for tuition and school fees. With the Foundation’s Medical Scholarship Program, poor but deserving students are given full medical education scholarship while doctors are given local and foreign training under the Continuing Medical Education Program to update and upgrade their knowledge and skills that they can use to serve patients. Three students have been added in 2018 to the roster of the Foundation’s scholars: Ria Bondad from Baguio City, Princess Mauricio from the National Capital Region, and Errol John Jorge from Bulacan. All three graduated with Latin Honors from their respective pre-med schools. Despite the financial pressure, these deserving students are enjoying scholarships that give them the chance to pursue their dreams of becoming a doctor and contributing to the improvement of healthcare in the country. 2018 Scholarship P4,279,494 91% Scholarship Grant disbursement 9% Continuing Medical Education 08
ANNUAL REPORT 2018 MEDICAL RESEARCH 2018 & DEVELOPMENT P185,515 High value should be placed in health and Research and Development medical research in the country as it can disbursement provide the much needed breakthroughs in the many issues that affect the medical field. With the Foundation’s Medical Research Programs, doctors, scientists, and students are supported for their endeavors to discover new or improve existing disease cure or treatment. 09
St. Luke’s Medical Center Foundation, Inc. 10
ANNUAL REPORT 2018 2018 FINANCIAL STATEMENTS HIGHLIGHTS Statement of Assets, Liabilities and Fund Balance As of December 31, 2018 and 2017 (All Amounts in Philippine Peso) 2018 2017 ASSETS General Assets 15,687,353 14,471,344 Current Assets 91,267 647,500 10,000 - Cash Due from related parties 15,788,620 15,118,844 Other receivables Total current assets 300,000 - Non-current assets 16,088,620 15,118,844 Equipment, net 116,963,493 90,146,714 Total unrestricted assets 1,823,077 503,607 Restricted assets 118,786,570 90,650,321 Restricted Cash 134,875,190 105,769,165 Accrued interest income Total restricted assets Total assets LIABILITIES AND FUND BALANCE Current liabilities 2,306,045 499,377 Accounts payable and accrued expenses 15,051,067 14,619,467 Fund balance 117,518,078 90,650,321 General fund 132,569,145 105,269,788 Restricted fund 134,875,190 105,769,165 Total fund balance Total liabilities and fund balance Statements of Total Comprehensive Income For the years ended December 31, 2018 and 2017 (All Amounts in Philippine Peso) 2018 2017 (as restated) General Restricted Total General Restricted Total Fund Fund Fund Fund Receipts 6,796,837 39,000,000 45,796,837 14,699,936 45,000,000 59,699,936 Donation 33,259 2,080,048 2,113,307 36,670 698,885 735,555 Interest income Total receipts 6,830,096 41,080,048 47,910,144 14,736,606 45,698,885 60,435,491 Expenses (731,147) (12,336,086) (13,067,233) (2,000,000) (4,526,027) (6,526,027) Charitable and social welfare (3,580,848) (698,646) (4,279,494) (4,660,594) (619,455) (5,280,049) Social services Scholarship and continuing medical (53,602) (999,061) (1,052,663) (1,287,500) (77,804) (1,365,304) education grants (7,017) (178,498) (185,515) (462,500) - (462,500) Outreach programs Research and development (4,372,614) (14,212,291) (18,584,905) (8,410,594) (5,223,286) (13,633,880) Total charitable and social welfare expenses (1,358,791) - (1,358,791) (1,314,541) - (1,314,541) (265,094) - (265,094) (203,854) - (203,854) Administrative expenses (18,346) - (18,346) (21,915) - (21,915) Salaries (383,651) - (383,651) (23,454) - (23,454) Advertising and marketing - - Taxes and permits (2,025,882) (14,212,291) (2,025,882) (1,563,764) (5,223,286) (1,563,764) Other expenses (6,398,496) (20,610,787) (9,974,358) (15,197,644) 26,867,757 40,475,599 Total administrative expenses 431,600 27,299,357 4,762,248 45,237,847 Total operating expense --- -- - Excess of receipts over expenses for the year 431,600 26,867,757 27,299,357 4,762,248 40,475,599 45,237,847 Other comprehensive income Total comprehensive income for the year Note: Previously, the Foundation had accounted for donations with specific restrictions on its utilization directly as part of the restricted fund in the Statements of Changes in Fund Balances. The Foundation now accounts for donation in the Statement of Total Comprehensive Income once funds are received or when the right to receive payment is established. 1 1 Statements are audited by Isla Lipana & Co.
BOARD OF TRUSTEES Frederick Y. Dy, Chairman Atty. Cirilo P. Noel, Vice Chairman Arturo S. De La Peña, MD Atty. Alonzo Q. Ancheta Lenora A. Cabili Atty. Nilo B. Peña Amando M. Tetangco, Jr. Robert F. Kuan Melissa R. Aquino, Independent Trustee ADMINISTRATIVE STAFF Arturo S. De La Peña, MD, President Editha M. Simeon, Treasurer REGULAR STAFF Jude C. Trinidad, Foundation Manager Melabel S. Layos, Finance and Administrative Assistant VOLUNTEER STAFF Olivia B. Yao, Resource Generation Director Marites B. Lontabo, Finance Manager James Roy C. Pascual, Deputy Finance Manager Dawn A. Garcia, Finance Volunteer Niña Mirrela C. Bautista, Resource Generation Assistant
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STEPS TO PROGRESS St. Luke’s Medical Center Foundation, Inc. 2018 Annual Report