Donation-matching challenge proposed at Sequoia Hospital
June 07, 2013
Sometimes, when fundraising opportunities arise, foundations or private citizens will commit to match the donations of the surrounding community dollar-for-dollar. This not only drums up support from potential donors, but it can mean a lot for the organization receiving the funds, as this strategy serves to automatically double whatever interest is extended.
Business Wire founder and philanthropist Lorry Lokey recently issued such a challenge, though with one caveat. The Lorry Lokey Donor Advised Fund has pledged to support the New Sequoia Hospital Campaign by matching all donations up to $2.5 million between now and January 31, 2014. This represents the largest gift ever given to the Sequoia Hospital Foundation, which is located in Redwood City, Calif.
"Lorry's key investment in Sequoia now, as we open our new facilities, enables us to bridge medicine as we know it today with the promises of tomorrow," noted President of the Sequoia Hospital Foundation JoAnn Kemist.
The money will be going to the recently revamped hospital and establishing a building and technology fund to promote the adoption of new technologies.
The Sequoia Hospital Foundation was established in 1982 to properly funnel funds to the best program at the medical center as well as the institution's nearly Health and Wellness Clinic.
Foundations and organizations that provide annual funding might benefit from nonprofit accounting software, which can help board members audit funds and make sure the correct amounts are being distributed to various programs each year.