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Sharp HealthCare Foundation Reaches $50 Million Goal
Date:12/20/2007

Gifts from Community Will Fund 20 Percent of Cost for New Hospital

SAN DIEGO, Dec. 20 /PRNewswire-USNewswire/ -- Sharp HealthCare Foundation announced that it has reached its $50 million Capital Campaign goal, the largest and most important philanthropic effort Sharp has ever undertaken. A recent gift of $500,000 from the Stephen and Mary Birch Foundation placed the campaign's total at $50,210,000.

(Photo: http://www.newscom.com/cgi-bin/prnh/20071220/DC10448 )

"It's only fitting that the Stephen and Mary Birch Foundation made the gift to help us achieve our goal," said Bill Littlejohn, CEO of Sharp HealthCare Foundation. "They launched the modern era of philanthropy for Sharp nearly two decades ago with a $5 million gift to establish the Sharp Mary Birch Hospital for Women."

The campaign has raised $40,321,000 for Sharp Metropolitan Medical Campus, including the new Sharp Memorial Hospital; $5,879,000 for Sharp Chula Vista Medical Center; and $4,010,000 in endowment funds.

"This incredible expression of generosity has led us to continue the campaign with an additional goal of $10 million before the new Sharp Memorial Hospital opens in summer 2008," said Littlejohn. "The success and the extension of the campaign will enable us to provide funds to bring additional clinical advances and capacity to the new hospital."

Construction of the new Sharp Memorial Hospital is approximately 90 percent complete and will be finished in the next three months. After a several month period of inspection, equipping, licensing and patient transfer planning, the new hospital will open in the summer of 2008.

The community contributed 20 percent toward the campaign for the construction of the new Sharp Memorial Hospital. The cost to construct the entire new Sharp Memorial Hospital and equip and occupy the first six floors is approximately $200 million. The new hospital is being funded through a combination of operating income and cash flow, borrowing and philanthropic support. The success and the extension of the campaign will make possible the build-out of the seventh floor of the new hospital, which is currently shelled due to costs. The cost of the build-out is approximately $10 million.

At 315,000 square feet, the new hospital is one of the most important health care projects in San Diego's history and will include a new surgery center, a new and expanded emergency and trauma center and house some of the most advanced health care technology.

Philanthropist Helen Copley helped launched the campaign with a $1 million gift, which was followed in 2005 by the campaign's largest gift of $5 million from the Helen K. and James S. Copley Foundation. In 2006 the Foundation received a $1 million challenge grant from The Kresge Foundation. The challenge required that the Foundation raise approximately $8 million during a one-year period for the Capital Campaign and the new Sharp Memorial Hospital. The foundation raised more than $8.1 million for the challenge.

About Sharp HealthCare Foundation

Since 1979, Sharp HealthCare Foundation has played a pivotal role in providing a wide range of medical services, clinical research and health education services that help thousands of patients and their families annually. Gifts from individuals, businesses and other foundations help extend much-needed health and wellness services into all corners of the community. Sharp HealthCare Foundation supports the charitable mission of Sharp Memorial Hospital, Sharp Mary Birch Hospital for Women, Sharp Mesa Vista Hospital, Sharp Vista Pacifica, and Sharp Chula Vista Medical Center. Since Sharp HealthCare Foundation is a 501(c)(3) tax-exempt organization, all contributions are exempt from federal income taxes to the fullest extent allowed by law. Learn more about Transforming Health Care: The Capital Campaign for Sharp HealthCare by visiting http://www.sharp.com or calling Sharp HealthCare Foundation at (858) 499-4800.

Note to editor: The campaign has received more than 7,000 gifts, including the following:

-- Campaign co-chair L. Robert (Bob) Payne and his wife Patricia made a $1 million gift in 2006. This was in addition to a $250,000 gift they had made in 2003 to help launch the campaign.

-- Dr. Patricia Montalbano made a $1 million gift in memory of her husband, Dr. Frank Montalbano, who practiced at Sharp Memorial for more than 30 years and served as Chief-of-Staff.

-- Kathryn Hattox made a $1 million gift in honor of her husband, Dr. John Hattox, an anesthesiologist who practiced at Sharp for many years.

-- The Hervey Family Fund of the San Diego Foundation made a $1 million gift in honor of Sharp Memorial Hospital Board Chair, Jim Wiesler and Chair Emeritus, Jim Haugh.

-- The families of Elliott and Stephen Cushman made a $1 million gift.

-- Former Foundation Board Chair Dr. Richard Coutts and his wife Stephanie made a gift of $500,000.

-- Jim and Mary Jane Wiesler made a gift of $500,000, in addition to a gift of $250,000 help launch the campaign; Jim has served as the chair of the Board of Directors of Sharp Memorial Hospital for more than a decade.

-- More than $5 million from our board members, more than $3 million from our physicians, $1.5 million from our auxiliaries and more than $1 million from our employees.


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SOURCE Sharp HealthCare
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