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Struggling Hospital Depletes $135M Endowment



Violating a sacred code of philanthropy, a failing hospital received court approval to tap into the principal of an endowment meant to last into perpetuity. That kind of negative publicity doesn't help development executives at other healthcare organizations.

3 comments on "Struggling Hospital Depletes $135M Endowment"
Steven (7/31/2013 at 5:38 PM)

What they did did was borderline criminal if not outright incompetent. I would wonder what the executives at the hospital are earning as they make these irresponsible decisions.
Steve (7/30/2013 at 5:03 AM)

I will be direct and to the point. LICH, which was owned by Continuum Health Partners, went to court to break the endowment. SUNY Downstate which took over LICH became responsible for repaying the money back and has stated that they will repay this money only when and if they are able. As to LICH losing money neither Continuum or SUNY has opened the books on LICH. All these points are easily searched.
Michelle Alicia (7/29/2013 at 3:01 PM)

Rene you have not researched your fact well; neither have you researched the background information and court cases surrounding this issue; your article is both false and misleading.