Charitable donations made to not-for-profit healthcare organizations slowed in FY10 and are not keeping pace with construction, equipment, and patient needs, according to a survey by the Association for Healthcare Philanthropy.
The data collected from 50 U.S. and 13 Canadian hospitals show “a definite downward drift in securing pledges,” AHP president and CEO William C. McGinly said in a news release. “It means organizations will have less in the pipeline for future years, adding to the uncertainty of the recovery.”
While total funds received by healthcare organizations increased 8.1 percent in FY10 to $8.2 billion, the cost of raising money increased from 23 cents to raise a dollar to 28 cents to raise a dollar in FY10, according to the report. The rate is calculated by dividing fundraising expenses by the gross production fundraising revenue.