Despite the poor economy, non-profit hospitals and healthcare systems managed an eight percent increase in philanthropic donations last year to more than $8 billion, with individual donors contributing approximately 60 percent of that total, according to an Association for Healthcare Philanthropy news release.
Annual giving was the largest source of funds raised in FY 2010, accounting for 20.0 percent of all funds raised followed by major gifts (17.1 percent), capital campaigns (15.4 percent) and special events (14.8 percent).
Planned giving, which includes bequests, charitable gift annuities, charitable remainder trusts, and similar long-term philanthropic arrangements, accounted for 9.5 percent of donations last year, similar to pre-recession levels.
In FY 2010, as in previous years, health care organizations directed the largest single share of their donated dollars to fund construction and renovation projects. The second-largest portion of raised funds went toward new and upgraded equipment purchases. Even though non-profit hospital raked in billions in donations, fundraising costs climbed and return on investment dipped.