YHF_Opt3_Renderings 2.jpg

Love gives Capital Campaign

Current Challenges of an Aging Society

  • Canada’s population is aging, and the trend is rapidly increasing.

    • In 2016, over six million Canadians were aged 65 or older, representing 17% of Canada’s population. Seniors make up a bigger share of Canada’s population than children 14 and under.

    • By 2030, seniors will number over 9.5 million and make up 23% of Canada’s population.

    • Centenarians (age 100+) have been the fastest-growing segment of the population since 2011.

    • By 2036, the average life expectancy for women will rise to 86.2 years from current 84.2 and 82.9 years from the current 80 for men.

  • Current wait time for a bed at Yee Hong can be as long as 10 years, compared to the provincial average of 152 days.

  • The need to provide quality senior care will only grow in the future.

Yee Hong’s Solution

  • In 2017-18, the Ontario Government awarded its first allocation of long-term care bed licenses in 20 years.

  • Both the previous Liberal and current Conservative governments of Ontario granted a total of 800 long-term care bed licenses to Yee Hong, allowing us to double our current capacity of 805 beds to 1,605 beds. These 800 licenses represent over 10 % of the total allocation of long-term bed licenses for the entire province of Ontario.

  • Yee Hong’s plans to include three new centres:

    • A 224-bed centre in Scarborough, working with Social Services Network for the South Asian community.

    • A 256-bed centre in Markham, working with the Vietnamese community.

    • A 320- bed centre in Mississauga, working with Trillium Health Partners and Indus Community Services.

STN_0615.jpg

The Impact

  • After completion of the three new centres, Yee Hong’s long-term care capacity will reach 1,605 beds in seven centres in the Greater Toronto Area and wait times will fall substantially.

  • New bed licenses will be highly valuable assets.

    • Meeting urgent needs of the seniors.

    • Bringing in over $40 million in additional annual operating funds from the government, in perpetuity, indexed to inflation.

  • Associated economic benefits to the greater community.

    • Annual budget to increase to $150 million.

    • Employment to increase to 2,500 staff members.

Golden Opportunity but Monumental Challenge

  • Long-term care home licenses include operational funding for the beds from the provincial government but do not include the construction costs of building the new homes to house the beds.

  • Total construction costs of the three new centres are estimated to be $300 million.

    • Yee Hong must raise $80 million (26.7%) as our equity stake.

    • Remainder to be covered by operational funding and special subsidies from the
      government to help pay for the mortgage.

    • Our $80 million is a one-time capital injection.

    • Annual operating subsidy from the government is perpetual.

STN_0854.jpg

The Time Is Now

  • The Love Gives Capital Campaign will be a monumental task but the reward will be tremendously fulfilling.

  • Largest fundraising goal in the history of Canada’s Chinese community.

  • While the fundraising environment is becoming increasingly difficult, we must accept this challenge.

    • There is no other option if we want to bring these valuable services to our seniors.

    • The opportunity may not present itself again.

  • We need the total mobilization of the community, support from the corporate sector, and past, current and new donors, and the dedication of our volunteers and members of the Yee Hong Centre Board, Foundation Board and Capital Campaign Cabinet.