The Foundation exists to promote quality health care at Morristown Medical Center. Community support is critically important in helping the Foundation to:
- Meet current capital/equipment needs of the medical center
- Build health care endowment funds for future needs
- Develop resources for vital medical center programs
- Fund clinical research
- Afford better access to care for the underserved population
This last area, in particular, has strained hospital resources, resulting in greater than ever dependence on philanthropy. In 2015, the medical center spent $16 million on charity care, but received only $2.9 million back from the Department of Health – 19 cents for every dollar spent.
As a not-for-profit hospital, Morristown Medical Center has three ways to generate new income: from new patient billing, by borrowing and from philanthropy. To illustrate the difference, consider how the medical center could acquire $80,000.
- From new patient billing: Assuming a 2% operating margin, $4 million in new patient billings would be needed.
- From borrowing: At favorable rates, the ultimate cost would be between $120,000 and $160,000.
- From philanthropy: $100,000 in gifts would cover the cost per dollar raised and generate the income needed.
That’s why your gift – no matter its size – is more important than ever. There are many ways to offer your support: through a variety of planned gifts
, through a gift of stock
or an outright donation. You may also increase your gift without any cost to you through your company’s matching gift program; visit http://www.matchinggifts.com/mmhf/ to see if your employer matches. This year, give locally and support Morristown Medical Center.