Wednesday, February 16, 2011

Major Philanthropists to the Healthcare Field

Private donations key to major projects

A number of wealthy Americans have contributed to hospitals and medical research facilities in recent years.  These major gifts reduce the need for state and local taxpayer dollars to finance major capital projects, including the construction of new medical schools.  A summary of significant charitable giving (from 2009) is below.  The summaries and amounts are featured in Slate.com’s “Notable Charitable Giving in 2009.”[1]

Major donors to medical schools and medical research facilities in 2009:

9th Largest: William P. Clements Jr.—$100 million to the University of Texas Southwestern Medical Foundation. “Clements, 92, founded Sedco, an oil and gas drilling corporation, and served two terms as governor of Texas. He pledged $100 million to the University of Texas Southwestern Medical Foundation to support the university's medical center. Clements, who placed no restrictions on how the money should be used, plans to pay the entire commitment over the next four years.”

15th Largest: Patrick Soon-Shiong and Michel B. Chan—$65 million to Saint John's Health Center Foundation. “Dr. Soon-Shiong is a surgeon who founded Abraxis BioScience, a pharmaceutical-development company in Los Angeles. Chan is an actress. Dr. Soon-Shiong and his wife have pledged $65 million to Saint John's Health Center Foundation in Santa Monica, Calif. Of the total, the health center plans to use $55 million for research at its John Wayne Cancer Institute and to support joint research projects with other institutions. The remaining $10 million will be used to recruit physicians and scientists.  The couple previously pledged $35 million to the center in 2007. Soon-Shiong and Chan have paid a total of $45 million toward both pledges and plan to pay the remainder over the next five years, said officials at Saint John's.”

17th Largest: Delores Jordan, who made a total of $52 million in charitable contributions in 2009, “gave $9.8 million apiece to Children's Hospital & Research Center Oakland, in California, and St. Rose Hospital, in Hayward, Calif.”

19th Largest:Caroline Amplatz—$50 million to the Minnesota Medical Foundation. Amplatz is a lawyer in Golden Valley, Minn. She pledged $50 million to the Minnesota Medical Foundation to support the University of Minnesota Amplatz Children's Hospital. The hospital is scheduled to open in 2011. The pledge will be paid over 12 years.”
19th Largest: “Ronald P. Stanton—$50 million to New York-Presbyterian Hospital. Stanton founded Transammonia, a New York company that distributes fertilizers, petroleum gas, and petrochemicals. He pledged $50 million to New York-Presbyterian Hospital, for a cancer-care program at the hospital and at its sister institution, Weill Cornell Medical Center. Details about a payment schedule were not available, but hospital officials said the money will be used to improve the institutions' radiation-therapy capabilities, to buy new state-of-the-art equipment, and to create a blood-infusion center for cancer patients.  Stanton serves on the hospital's board of trustees, and the new cancer program will be named for him.”

23rd Largest: “John and Mary Pappajohn—$47.3 million to the University of Iowa Foundation and the Des Moines Art Center. John Pappajohn founded Equity Dynamics and Pappajohn Capital Resources, both venture-capital companies in Des Moines. John Pappajohn, 81, and his wife, Mary, 76, pledged $26.4 million—of which $13.6 million has been paid—to the University of Iowa Foundation. The Pappajohns have directed the money to construct the university's new Institute for Biomedical Discovery, which will be named for the couple, and to support the institute's programs.  A 1952 graduate of the university, Pappajohn has served on the foundation's board of directors since 1989. He and Mary Pappajohn plan to pay off the remainder of the pledge in cash and stock by the end of 2013. He said they hope their donation helps the university consolidate all its biomedical-research programs into one center and results in additional medical and technology breakthroughs.”

24th Largest: “Lawrence J. Ellison—$46.9 million to the Ellison Medical Foundation. Ellison, 65, the founder of Oracle, gave $46.9 million to the Ellison Medical Foundation for biomedical research. He created the foundation in 1997 to support research on age-related diseases and disabilities, stem-cell research, study into the aging process, and other scientific areas of study that might not be supported by other sources. Last year the foundation made about $40 million in grants, and has supported approximately 300 research institutions since it was created.”

35th Largest:  Sanford and Joan Weill- $26 million to various organizations, including Cornell University.  “[I]n 2009 the Weills gave $170 million in cash to Weill Cornell Medical College and to Cornell University to fulfill what was originally a $300 million pledge they made to those institutions in 2007. The couple originally planned that the pledge would be paid by their estate upon their deaths, but in 2008 Cornell officials asked the Weills to pay on their pledge early so that construction of a new research building would not be stalled. The Weills and the university agreed that the $170 million payment would fulfill the full pledge.”

41st Largest: “Jerry W. and Judith S. Davis—$22 million to the University of Florida Shands Cancer Center and the Tennessee Tech School of Nursing. Jerry Davis is a private investor and a former chairman of Computer Management Sciences in Jacksonville, Fla. Davis, 65, and his wife, Judith, 67, pledged $21 million, of which $3 million has been paid in cash, to the University of Florida's Shands Cancer Center in Gainesville. Of the total committed, they have directed $20 million toward research and $1 million to support the center's hospital. The remaining $18 million will be paid out over the next nine years in annual increments of $2 million. Both of the Davises are cancer survivors. Davis was treated at the Shands Center and serves on the board of directors of Shands HealthCare. He earned a bachelor's degree in journalism from the university in 1968.
In addition, the couple gave $1 million to the Tennessee Tech School of Nursing, in Cookeville. The money will support scholarships for 10 students each year who are from Oneida, Tenn., Judith Davis' hometown.”

43rd Largest:M.A. Douglas—$21 million to the University of California at Irvine Medical Center. Douglas founded Income Property Services, a real-estate-development company in Orange, Calif. Douglas, who died in 2008 at 97, bequeathed $21 million to the University of California at Irvine Medical Center, also in Orange. The money will go toward the medical center's new hospital. Douglas was never a patient at the hospital and had no ties to it, according to a spokesman for the medical center. His office was one block away, and he passed it every day on the way to his real-estate company. Before his death, he left the decision as to where his bequest should go up to the trustees of his estate. The only stipulation Douglas made was that the money benefit people in Orange County, Calif., where most of his business was centered.”

58th Largest:Conrad T. Prebys—$11.6 million to the Burnham Institute for Medical Research. Prebys founded Progress Construction and Management Company, a real estate-development business in San Diego. He pledged $10 million to the Burnham Institute for Medical Research in La Jolla, Calif., to support a drug-discovery center that will be named for him. He paid $1 million toward the pledge last year. He also gave the institute a separate donation of $50,000 to support work by its young scientists. In addition, he pledged $1.5 million to the San Diego Hospice and Institute for Palliative Medicine to establish a special fund to provide hospice services to patients who could not otherwise afford such care. Prebys has paid $500,000 toward the pledge and plans to pay the rest over the next two years.”


[1] “Slate 60: Donor Bios.  The largest American charitable contributions of the year.”  Slate.com.  February 5, 2010.  Compiled by the Chronicle of Philanthropy.  Downloaded February 3, 2011.  URL: http://www.slate.com/id/2243496/pagenum/all/#p2. 

No comments:

Post a Comment