Medical center receives land donation
May 09, 2013
When organizations receive donations, it's usually in the form of cash or monetary pledges to be fulfilled in the future. However, one commercial real estate developer just gave a unique gift to Fletcher Allen Health Care.
Affiliated with the University of Vermont, the medical center was given a 15-acre property in Williston, Vermont, worth $13 million by Bob and Holly Miller, according to the Burlington Free Press. The hospital had already been using the facility for a number of years, but was renting the building from Miller's company R.E.M. Development for $750,000 per year when the couple decided to give it to the center.
"One of the ways this gift will keep on giving is those lease payments can now be put into supporting clinical programs," Fletcher Allen president and CEO Dr. John Brumstead told the source.
Interestingly, property donations aren't rare. Recently in Spring Grove, Illinois, local resident Gerry Lorenz donated land to the Village Board for the purpose of building a bridge to connect the downtown area to Hatchery Park over Nippersink Creek, the Northwest Herald reported.
Organizations that are looking to raise funds through grant opportunities or local campaigns can use nonprofit financial management solutions to improve their chances of success. The software can help program leaders identify potential donors and send out applications with accurate accounting information.