Donors who choose to contribute endowment funding are able to make an impact that lasts much longer than a lifetime.
In an endowment contribution, the funds donated are never spent. Instead, the gift is conservatively invested by the nonprofit institution. The interest the funds earn annually are used to support service programs year after year.
A Shining Endowment Example: The Anne Wilson Endowment in Nursing Excellence
In the largest endowment ever raised by the hospital’s Associate & Affiliate Groups, the Anne Wilson Endowment in Nursing Excellence provided $5 million in 2001. This endowment has allowed the hospital to secure its position as a high-quality provider of patient care for children through recruitment and retention of the very best nurses.
Activities supported by this endowment:
- Successful partnership with nursing schools for recruitment
- Expansion of our Versant RN Residency in Pediatrics Program
- Provision of scholarships for the RN to BSN (bachelors degree) Program
- Support for our an annual Nurse Essay Contest
New Nursing Program
Most recently, the endowment has allowed the hospital to offer a Staff Nurse Research Fellowship Program, through which nurses are offered protected time to conduct research designed to improve caregiver environments and improve patient care.
Why Support for Nursing is Critical
California ranks last in the U.S. in the ratio of nurses per 100,000 individuals in the state. Los Angeles County has an even lower ratio of nurses per capita, falling well behind the average for the state.
In order to ensure that our patients received the highest level of care, the Associates recognized that the hospital needed to ensure the hospital’s capacity to retain a strong nursing workforce to complement its strong medical staff.
The Endowment’s Impact
The support for our nurses through the Anne Wilson Endowment in Nursing Excellence has directly translated into higher quality in patient care.
Research indicates that a better-educated nursing workforce results in better outcomes for patients. As a result of this endowment, over 60 percent of our registered nurses are bachelor’s or master’s-prepared, compared to 30 percent in the state of California. Since the Endowment was created in 2001, 87 nurses have been supported in the pursuit of their bachelor’s degrees through the Registered Nurse to Bachelors in Nursing Science Program. The educational achievements of our caregivers, and their resultant contributions to patient care, have resulted in national recognition for excellence in patient care.