FOUNDATION NEWS

WHERE DO DONATIONS GO?

Thanks to you, over $8 million has been raised since 1990 to support the Otis Health Care Center. There are two types of gifts received: restricted or unrestricted.

Often, supporters request that their donation be used to buy a particular piece of equipment, possibly in response to the Wish List that has been published in Cottage Door over the years. Others want to fund a particular activity, such as The Valley Health Council or Activities. Some people earmark their gifts to debt reduction and, thanks to these contributors, our short-term debt on the new addition has been reduced from $800,000 to $425,000.

Still others want to help build the endowment, so they direct their gifts toward that end. The endowment now stands at approximately $3.7 million, up from $664,000 in 1994. Income from the endowment is used each year to help pay the long term debt used to finance the new hospital building, and the rest is available for general purposes. One of our goals over the next few years is to increase the endowment substantially.

Many of you give to Grace Cottage with no strings attached, with the belief that the Otis Health Care Center knows how and where to maximize the benefits of your contribution. Indeed, over the past ten years, more than $3.3 million of unrestricted giving has gone to support healthcare operations. While the Otis Health Care Center has gone to great lengths to minimize operating losses, it is no secret that non-profit healthcare centers typically run operating deficits that must be matched by donor generosity.

Andrea Seaton and Mary Gyori at Grace Cottage Foundation thank you for your support and are available to discuss any questions or issues you may have; they can be reached at (802) 365-9109 or via e-mail at gcfound@sover.net.

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FOR INFORMATION ON WAYS YOU CAN HELP:

GRACE COTTAGE FOUNDATION
P.O. BOX 1
TOWNSHEND, VT 05353-0001
(802) 365-9109
gcfound@sover.net/E-MAIL
www.gracecottagehospital.org