Governance
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Good governance is the foundation for strategic success
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With a broad range of experiences and expertise, our skills based board is responsible for the governance of our corporation, sets strategic directions, and monitors our fiscal health.
MESSAGE FROM OUR CHAIR
A Committed Board
John McKinley
Chair of the Board
I was first elected to the Touchstone Institute Board of Directors six years ago. The Board I joined consisted largely of the organization’s founders, contributing their expertise in medical education and health human resource regulation in the formative years of what was then the Centre for the Evaluation of Health Professionals Educated Abroad. Their contributions, under the expert leadership of Dr. Ken Harris, were critical in establishing our presence and credibility. As we renew, we have become a skills based board, more broadly reflective of the aspirations of an organization that has expanded its range of services and reach within Canada’s regulatory communities. This year we welcomed Shamira Madhany and Ariana Bradford, who bring their unique experiences to our table, and sadly saw the departure of Dr. Brian Hodges who continues to work with us as a colleague and key partner. Today’s board is less inclined to monitor operations and more suited to consider the potential and value proposition that Touchstone Institute represents. Their dedication and collective wisdom make my role as chair a pleasure and an education.
MESSAGE FROM OUR CEO
An Interrupted Year
Sten Ardal
CEO
The year was going so well. All programs were flourishing, many assessment volumes were up, the Canadian Medicine Primer survived despite the withdrawal of Saudi sponsored trainees, we greatly expanded our use of tablets, and our financial house was in good order. Then came March and we started cancelling exams and had to move out of our offices in response to COVID-19. This impacted our budget assumptions and disrupted our workflow. We immediately started work to move our 2020 programming for matched international medical graduates online so they could meet residency requirements. It was apparent that our organization was facing a period of uncertainty. By year end staff had been successfully transitioned to working from home environments and we were well on our way to launching a virtual education program. While most of the year we were riding a wave of accomplishment, we ended in a trough. However, I am confident that our resourceful team will develop solutions that will soon see us charting a renewed course with the wind at our backs.
Oversight Structure
Board of Directors
Curricular Advisory Committee
Assessment Oversight Committee
Collaborative Engagement
Board Members are responsible for the governance of our corporation, and are elected for three year terms that can be renewed once. This is a “skills based” Board, with a broad range of experiences and expertise, that sets strategic direction, monitors our fiscal health, and oversees the performance of the organization. The Board operates according to policies set out in our corporate Bylaws that were updated in 2018.
The Curricular Advisory Committee is a dedicated team of physicians representing a range of specialties, medical schools, and training experience. They are responsible for the design and oversight of our physician learning programs and ensure that all content and modalities include a breadth of experience and represent diverse needs.
Joint oversight is established with clients and stakeholders for our various exams and programs to share information, to ensure accountability and to monitor quality assurance protocols. The Assessment Oversight Committee is made up of exam leaders from Touchstone Institute. Design, administration, and psychometric experts come together to plan new exams, oversee quality, and provide critical review of any assessment issues and appeals.
Touchstone Institute meets regularly with partners and clients to ensure that their specific assessment and program objectives are being met, and to collaborate on strategies for the future.
Oversight Structure
Board of Directors
Board Members are responsible for the governance of our corporation, and are elected for three-year terms that can be renewed once. This is a “skills based” Board, with a broad range of experiences and expertise, that sets strategic direction, monitors our fiscal health, and oversees the performance of the organization. The Board operates according to policies set out in our corporate Bylaws that were updated in 2018.
Curricular Advisory Committee
The Curricular Advisory Committee is a dedicated team of physicians representing a range of specialties, medical schools, and training experience. They are responsible for the design and oversight of our physician learning programs and ensure that all content and modalities include a breadth of experience and represent diverse needs.
Assessment Oversight Committee
Joint oversight is established with clients and stakeholders for our various exams and programs to share information, to ensure accountability and to monitor quality assurance protocols. The Assessment Oversight Committee is made up of exam leaders from Touchstone Institute. Design, administration and psychometric experts come together to plan new exams, oversee quality, and provide critical review of any assessment issues and appeals.
Collaborative Engagement
Touchstone Institute meets regularly with partners and clients to ensure that their specific assessment and program objectives are being met, and to collaborate on strategies for the future.
Board of Directors
John McKinley
Dan Faulkner
Ella Ferris
Lianne Krakauer
Murray Klein
Dr. Hanika Pinto
Shamira Madhany
Ariana Bradford
AT A GLANCE
2020 Financial Performance
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Total Revenue
$0
Total Expenses
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Net Excess of Revenue over Expenses
CONDENSED STATEMENT OF OPERATIONS
2020 Financial Performance
| REVENUES | ||
| Funding from Ministry of Health and Long Term Care | 6,672,114 | 7,098,471 |
| Funding from Ministry of Labour Training and Skills Development | 366,378 | 443,373 |
| Exam fees, development and application fees | 3,596,037 | 3,216,296 |
| Other revenues | 25,818 | 130,074 |
| Amortization of deferred capital funding | 195,960 | 278,246 |
| 10,856,307 | 11,166,460 | |
| EXPENSES | ||
| Examiners and support staff | 2,550,425 | 2,814,918 |
| Employees salaries and benefits | 3,864,074 | 3,863,860 |
| Facility rental and occupancy | 1,924,449 | 1,831,378 |
| Bursaries paid out | 285,000 | 273,750 |
| Clinical funding transfers | 483,285 | 455,510 |
| Professional fees | 82,487 | 84,272 |
| Other operating expenses | 1,280,987 | 1,148,421 |
| 10,470,707 | 10,472,109 | |
| . | ||
| Excess of Revenues over Expenses | 385,600 | 694,351 |
| Receivable from (Repayable to) Ministry of Health and Long Term Care | (24,640) | 77,534 |
| Net Excess of Revenue over Expenses | 360,960 | 771,885 |
