President's Report 2010
I am pleased to report that the Neurosurgical Research Foundation (NRF) has once again concluded a most successful year.
Paediatric Appeal
In my 2008-2009 annual report I announced the decision to launch research into children’s neurological conditions at the Women’s and Children’s Hospital in partnership with the University of Adelaide and Professor Robert Vink. This project has been developed further and preparations to launch the Paediatric Appeal took place progressively during the year. As a result of Dr Andrew Zacest having to concentrate on clinical work at the Royal Adelaide Hospital, the NRF Council resolved to utilise funds from the Abbie Simpson Clinical Fellowship in the Paediatric research initiative. This change of plan will enable the NRF to accelerate the pace to reach the $2 million target for the Paediatric Appeal.
Investment Policy & Research Funding
As a consequence of the global financial crisis (GFC), we reviewed our finances and set up a Committee to advise on how the NRF should manage its funds. Another result of the GFC was low interest rates which resulted in less interest income for research. We had planned to support two neurosurgical registrars in training, but this was reduced to one registrar in 2010. The successful applicant was Dr Adam Wells from Adelaide who began in February 2010. He will investigate stroke where blood supply is reduced to an important part of the brain.
The Foundation has an enviable record of ensuring that donations are directed to supporting research. Administrative expenses are primarily funded by income from a 'corpus' and interest on deposits. NRF Council has contracted with Perpetual Trustee Company Limited to professionally manage the funds within parameters set by Council. As needed up to 20% of unrestricted income may be used to offset costs of raising these funds and for administration and statutory compliance expenses. Over the past three years the NRF has provided over $400,000 for neurosurgical research. I am pleased to say that the Foundation has contained expenses so that they are below the 20% level of Income.
Professor Donald Simpson
The Foundation owes a great debt to Prof Simpson for his role in creating, nurturing and presiding over the NRF during a 47 year period. Planning for a Testimonial Lunch to honour his achievements progressed during the year and will be held in the National Wine Centre on 13th October 2010.
A big thank you
We are fortunate to have dedicated men and women from our community who donate their time to the NRF and advise the Foundation in the business of fundraising. I want to place on record the diligence, expertise and hard work by all Council members. They all have busy lives in business and our community. Our Patron has been very active and helpful, especially since her return to live in Adelaide. Her appointment to the board of BHP Billiton is a significant recognition of her abilities.
There are many volunteers who help with the preparation of newsletters, functions, publicity material, selling cards and so on. We are grateful to all these people for their unselfish donation of time to our organisation. I wish to make special mention of Ginta Orchard, our Executive Officer for her enthusiasm, hard work, and guidance. Ginta has been successful at a national level in awards from the Fundraising Institute. This is no mean feat for a relatively small foundation from Adelaide in what is a very competitive field. Thank you.
In conclusion, the Foundation has had an active and productive year with an increase in both the scale and quality of research. I am confident that the NRF is fulfilling the objectives set out in our Constitution "to encourage, stimulate and aid research and investigation into all matters related to neurosurgery".
Investment Policy & Research Funding
As a consequence of the global financial crisis (GFC), we reviewed our finances and set up a Committee to advise on how the NRF should manage its funds. Another result of the GFC was low interest rates which resulted in less interest income for research. We had planned to support two neurosurgical registrars in training, but this was reduced to one registrar in 2010. The successful applicant was Dr Adam Wells from Adelaide who began in February 2010. He will investigate stroke where blood supply is reduced to an important part of the brain.
The Foundation has an enviable record of ensuring that donations are directed to supporting research. Administrative expenses are primarily funded by income from a 'corpus' and interest on deposits. NRF Council has contracted with Perpetual Trustee Company Limited to professionally manage the funds within parameters set by Council. As needed up to 20% of unrestricted income may be used to offset costs of raising these funds and for administration and statutory compliance expenses. Over the past three years the NRF has provided over $400,000 for neurosurgical research. I am pleased to say that the Foundation has contained expenses so that they are below the 20% level of Income.
Professor Donald Simpson
The Foundation owes a great debt to Prof Simpson for his role in creating, nurturing and presiding over the NRF during a 47 year period. Planning for a Testimonial Lunch to honour his achievements progressed during the year and will be held in the National Wine Centre on 13th October 2010.
A big thank you
We are fortunate to have dedicated men and women from our community who donate their time to the NRF and advise the Foundation in the business of fundraising. I want to place on record the diligence, expertise and hard work by all Council members. They all have busy lives in business and our community. Our Patron has been very active and helpful, especially since her return to live in Adelaide. Her appointment to the board of BHP Billiton is a significant recognition of her abilities.
There are many volunteers who help with the preparation of newsletters, functions, publicity material, selling cards and so on. We are grateful to all these people for their unselfish donation of time to our organisation. I wish to make special mention of Ginta Orchard, our Executive Officer for her enthusiasm, hard work, and guidance. Ginta has been successful at a national level in awards from the Fundraising Institute. This is no mean feat for a relatively small foundation from Adelaide in what is a very competitive field. Thank you.
In conclusion, the Foundation has had an active and productive year with an increase in both the scale and quality of research. I am confident that the NRF is fulfilling the objectives set out in our Constitution "to encourage, stimulate and aid research and investigation into all matters related to neurosurgery".
Brian North
President
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