The Malta Community Chest Fund Foundation distributed €7.7million in 2017, an increase of 61% over 2016, the foundation announced during its annual general meeting earlier this week.
During 2017, the foundation collected €500,000 more than the previous year. With these contributions, the Malta Community Chest Fund Foundation helped more than 11,000 individuals.
Speaking during the AGM, President Marie-Louise Coleiro Preca said the foundation has continued decreasing its expenses relating to fundraising events by €24,000.
The President said: "I am indebted to my fellow Maltese and Gozitans for their remarkable generosity, but we must work harder to meet today's realities. Solidarity is an essential part of our fabric as a nation, and I am sure that together, we will rise to the challenges ahead as the Malta Community Chest Fund Foundation seeks to carry out its essential mission to help an increasing number of people in need."
The Malta Community Chest Fund Foundation has more than doubled the financial assistance it provides to people with disabilities and patients requiring specialised medical care, according to figures published in its annual report for 2017.
The Medical Assistance to Maltese and Gozitan patients increased to €4.4 million in 2017, from €2.4 million in 2016, while the unit for Disability assistance distributed €560,000 in 2017, compared to €275,000 in the previous year.
During the AGM it was reported that overall medical and overseas assistance amounted to €5.7 million, a 63% increase over the previous year, while individuals and institution requiring social assistance received €2 million, an increase of 55% on the comparative period in 2016.
During the presentation of the Administrative Report, Chairman of the Board of Administrators of the Malta Community Chest Fund Foundation, John Camilleri said the Medical Assistance Unit approved over 1,000 applications, the majority of which were for 32 Different types of Specialised Chemotherapy, as well as over 600 applications for Treatment Abroad Assistance, reflecting 264 airfares, and 1,500 nights of accommodation.
This unit also distributed 200 wigs, made from natural hair, donated by Maltese and Gozitans, including children. Camilleri also explained that the Social Assistance Unit assisted 2,300 families, reflecting more than 9,000 individuals; while the Disability Assistance Unit approved approximately 300 applications.
The Chief Financial Officer of the Malta Community Chest Fund Foundation, Mark Mizzi provided a detailed explanation of the Audited Accounts with the main highlight being the fact that, in 2017, the Malta Community Chest Fund Foundation distributed 61% more funds overall, while decreasing the expenditure relating to fundraising activities.
Claude Ellul, Director within KPMG Malta, read the Auditors' Report, for the year ended 31 December 2017. The Chairman of the Finance Unit of the Malta Community Chest Fund Foundation, Mr John Huber gave an analysis of the Financial Results.
Copies of the Annual Report, which also includes, Statement of Assets and Liabilities and Statement of Income and Expenditure, audited by KPMG, can be acquired from the offices of the Malta Community Chest Fund Foundation, at The Palace, Valletta or from San Anton Palace, or downloaded online at www.mccff.org.mt.
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