The Crouse Health Foundation’s Endowment Allocation Committee recently made its annual distribution of investment income in support of Crouse Hospital programs and health initiatives and the enhancement of its facilities and equipment. According to Carrie Berse, president of the Foundation, the Foundation Board of Trustees this year allocated $800,000 in investment income earned by the endowment fund in 2009. “Although market conditions continued to be challenging last year, a diversified portfolio and an investment philosophy that is long-term in nature allowed the Foundation to make a significant disbursement to Crouse Hospital for 2010.”
The Crouse Health Foundation Endowment Fund was established in 1983 through a $5 million community fund-drive, and today has a market value of more than $19 million. The principal of the fund remains untouched, while a portion of the investment income earned annually is given to Crouse Hospital. Investment income disbursements began in 1988, and monies awarded in support of the hospital to date total more than $15.2 million.
The endowment this year funded 40 projects, including $28,500 for scholarships for the Crouse Hospital School of Nursing and:
- Almost $343,000 for enhancements to Surgical Services, in anticipation of the opening of the hospital’s new Witting Surgical Center, including the largest allocation going toward the purchase of the Valleylab Force FX Electrosurgical Unit, which provides a smooth incision through all tissue types, adjusting automatically to changes in tissue density to minimize the risk of tissue damage;
- Ten projects, totaling close to $99,000, for Women’s and Children’s Services, including technical enhancements to improve patient care for our tiniest patients in the Baker Neonatal Intensive Care Unit and OB patients in the Kienzle Family Maternity Center;
- $62,000 towards an information technology system that will allow physicians and their staff the ability to review patient information securely from their offices;
- $95,795 to the Medical Imaging department for a system that produces digital whole body x-rays used in treatment planning for scoliosis surgery.