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Statement on Compensation
Sunday, July 15, 2007
SickKids Foundation is the largest private funder in children’s health in Canada. Since 1972, the Foundation has provided The Hospital for Sick Children with more than $610 million towards advancing the quality of health care provided and towards research discoveries that help to understand the underlying causes of childhood illness, disease and injury. As part of our commitment to build Canada’s capacity and knowledge to meet future challenges in child health, we have granted $74 million to organizations across the country.
In 2003, the Board of Directors of SickKids Foundation agreed upon a strategy to make SickKids an even more significant force in advancing children’s healthcare. The board launched an international search for a new president to lead the Foundation to even greater achievements on behalf of children’s health.
To continue being a world leader, it is necessary to have professional management of the highest caliber. The Foundation has always believed in attracting and retaining the best qualified individuals, and recognizes the role salaries play in recruitment.
Under the leadership of president Michael O’Mahoney, there has been a double digit increase in fundraising revenue in each of the last three years – from $45 million in 2004 to $81 million in 2007.
Mr. O’Mahoney’s salary is in line with other lead executives of major children’s hospitals and charities across North America, as evidenced by the Chronicle of Philanthropy Salary Survey. The SickKids vice-presidents supporting Mr. O’Mahoney are leaders in their own right, representing some of the most talented individuals across the corporate and not-for-profit sectors.
In 2005, the Foundation launched the largest fundraising campaign for a hospital in Canada. Our executive team committed to raising $500 million by 2011 and is on track to meet that target. We believe that is the measure by which our executive should be judged.
The scope of the challenges we are trying to meet is unlike any other. That is why our approach to raising these much-needed funds must also be large in scope, and may not always resemble the efforts of others. We feel there can be no higher purpose than improving the lives of our children. Together, with a shared vision, we truly believe “Healthier Children. A Better World.”
