GOVERNANCE BEST PRACTICE IN FUNDRAISING FOR MEDICAL RESEARCH
> THE CONTEXT
The Princess Alexander Research Foundation is a philanthropic body supporting the PA Hospital through fundraising for its ground-breaking medical research. Although fundraising Foundations are normal in the private hospitals sector they are less common for public hospitals. In Queensland their establishment and operation is framed by the Hospital Foundations Act.
> THE BRIEF
A review of the current governance processes and procedures was identified as important to optimising the Foundation’s work. This was to include an examination of the Foundation’s compliance with the Hospital Foundations Act and with other relevant finance and accountability legislation, as well as a review of the Foundation’s internal governance procedures,
> OUR APPROACH
The review of governance practices and compliance was undertaken through interviews with Chair, other Board Members and CEO, and a close review of framing legislation and other regulations which have implications for PARF’s Board and management. A wide range of PARFs board and governance documentation was reviewed and evaluated. Interviews with two other hospital/medical research foundations were arranged to draw comparisons with their governance processes. A round-table discussion was held with the Board to discuss interim findings, prior to preparation of a Final Report and recommendations.
> THE RESULTS
Positive Solutions generated a detailed report including recommendations that satisfied all requirements of the Foundation.