That total surpassed the previous record of $8.59 billion set in FY 2008. However, the AHP’s report said although donations grew significantly, the cost of raising those funds “remained close to post-recession highs.”
Overall, hospitals reported a return on investment (measured as funds raised per dollar spent) of $3.24 in FY 2011 — a 19-cent increase from FY 2010.
“Philanthropy is absolutely vital for not-for-profit healthcare organizations, and it is encouraging to see that recent trends in giving have been more promising,” William McGinly, PhD, president and CEO of AHP, said in the news release. “Foundations that maintained their efforts during the recession and its aftermath are beginning to experience some significant progress.”
More Articles on Non-Profit Hospital Finance:
West Penn Allegheny Calls Off Highmark Merger
25 Statistics on Hospital Asset Allocation in FY 2010
CEO Compensation of the 25 Top-Grossing Non-Profit Hospitals
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.