Mike Bruni |
When lying in a hospital bed or undergoing a test that uses sophisticated equipment, most of us don’t stop to think about how that bed or equipment wound up at the hospital. The average person would be surprised to learn that many components of our care are funded, at least in part, by donations from the community.
Community members are often the “hidden angels” in a hospital room, supporting their local non-profit hospital out of a shared commitment to that hospital’s mission and values. In her book, The Greater Good, author Claire Gaudiani posits that 41 percent of all hospital beds are funded by citizen generosity. For some, charitable giving provides a way to give back or become a more active participant in the community’s well-being. Still others are passionate about research and helping the physicians and hospitals find new ways to treat and ultimately cure illnesses.
Charitable giving impacts in all kinds of medical institutions today. It supports programs and projects, advances research and technology, and funds equipment purchases. That’s why it is important that hospitals reach out and make their needs known and in order to advance their initiatives. Through the efforts of hospital foundations, such as the Franciscan St. James Community Foundation, individuals, corporations and other foundations find opportunities to support a specific institution.
The work of foundations is essential to funding of projects that could otherwise not be funded through general revenue. Foundations generally solicit donations in one of three ways: event fundraising, asking individuals or organizations to invest in a specific vision, or planned gifts and estate planning.
Through event fundraising, hospitals host large parties, such as the annual St. James fundraising gala held every October. Proceeds from The Gala have contributed to enhancing technology at St. James Health, as well as providing services and technology to individuals who couldn’t otherwise afford them. The proceeds for this year’s event will go directly to buying approximately 100 new hospital beds. While that may not sound like a lot, state-of-the-art hospital beds cost $5,000 a piece…that’s an investment of $500,000 funded by the community.
Individual donations are frequently solicited to support a specific area of need. People will invest in a vision, often one that they feel passionate about. More than 70 percent of U.S. healthcare contributions come from individual donors including patients, employees, physicians and board members.
In reaching out to business community, hospital foundations are most often not asking for one-time gifts, but are seeking to forge long-term partnerships to advance their mission. The economy has, understandably, impacted corporate philanthropic efforts. As a consequence, they ask hard questions to ensure they are making a wise investment. In forming corporate relationships, hospitals are held to high standards that hold the institution accountable for proving that they are providing safe, quality, effective care. Such arrangements ultimately serve to raise the bar, making hospitals better and stronger.
Planned gifts and estate planning can have a significant impact on advancing a hospital’s mission. Sometimes just one individual can reshape the level of care provided. Locally, the estate of Patricia A. Joyce is an excellent example, whose generosity enabled St. James Health to build the state-of-the-art Patricia A. Joyce Comprehensive Cancer Institute in Olympia Fields.
As hospitals throughout the country feel the pinch of slow and reduced reimbursement rates, philanthropic support will shape the future of healthcare. And as healthcare reforms are initiated, the impact of charitable contributions on a hospital’s ability to advance its mission will become more and more relevant. Foundations will become increasingly vital to funding those “above and beyond” projects that contribute to the quality of care.
The 2011 Franciscan St. James Health Gala will celebrate the hospital’s 100th anniversary on Saturday, October 22, at Navy Pier in Chicago. To learn more about The Gala, or other ways to support the Franciscan St. James Community Foundation, call 708-747-4000, ext. 7424.
Michael Bruni is Vice President of External Affairs at Franciscan St. James Health.
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