Where the Money Goes:
We do not use contributions to cover the hospital’s day-to-day operating expenses.
If a donor places restrictions on their gift, for specific departments or services within the Hospital, it goes directly to the Hospital for budget items that fit the donor restrictions - like new equipment, technology, or physical renovations.
If a donor makes an unrestricted gift, 75% of the gift is used for whatever capital budget items (equipment or projects) are most needed by the Hospital. The remaining 25% is added to the Foundation’s long-term investments, which now total about $13 million. Each year we use a very small percentage of those invested funds to cover the Foundation’s own operating expenses.
Bequests and other “planned gifts” are also added to our long-term investments, which now total about $13 million. In recent years we have used the Foundation’s invested funds to collateralize sizable projects - including renovations at EJ Noble, and the purchase, renovation, and addition to the former St. Mary’s School in Potsdam. Invested prudently, and managed carefully, our investment funds are providing substantial, consistent, and permanent funds to the Hospital, without ever becoming depleted.