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$50 Million Gift To St. Jude Part Of $350 Million In Giving...

AbbVie, a biopharmaceutical company that was spun off from Abbott Laboratories five years ago, yesterday announced another eight-figure donation as it comes closer to its goal of donating $350 million to charities this year. The latest donation was $50 million to St. Jude Children’s Research Hospital. So far this year, AbbVie has donated $310 million […]

AIDS-Related Philanthropy Down 5 Percent Last Year...

Private philanthropic support for the AIDS epidemic decreased by 5 percent, or $37 million, in 2017 – the lowest level in three years, according to a new report. The 16th annual “Philanthropic Support to Address HIV/AIDS” was released by the Funders Concerned About AIDS (FCAA) last week ahead of World AIDS Day on Dec. 1. […]

HHS, ACA Applicants’ Data Hacked...

In what is known in the news business as the “Friday afternoon dump,” the U.S. Department of Health and Human Services (HHS) announced last Friday without fanfare that HealthCare.gov had been hacked and personal records accessed. In an announcement on the HealthCare.gov website, the agency wrote; “In October 2018, a breach occurred within the Marketplace […]

Maine Healthcare System Consolidates Into $3 Billion Nonprofit...

The national trend of hospital systems merging or consolidating continues. The hospital and service members that make up MaineHealth in Portland, Maine, will be one nonprofit system beginning January 1. It will become a single nonprofit entity. Maine Medical Center, Southern Maine Health Care, LincolnHealth, Coastal Healthcare Alliance, Western Maine Health, Franklin Community Health Network […]

Nonprofit Healthcare Netted 13.2% On Investments...

Nonprofit healthcare organizations reported an average return of 13.2 percent net-of-fees on investable assets during 2017 compared to 6.2 percent on average for 2016. According to the Commonfund Institute, the 56 funds surveyed reported an average investable asset pool of $2.1 billion as of December 31, 2017, and median investable assets of $987 million. Investable […]

CEO Salaries At Nonprofit Hospitals Jumped 93%...

It’s a great time to be chief executive at a nonprofit hospital. Their salaries are up 93 percent. That according to a study in Clinical Orthopaedics and Related Research. Average inflation-adjusted salaries for CEOs went from $1.6 million in 2005 to $3.1 million in 2015, the most recent statistics available. Wage increase for others in […]

Red Cross Plans Michigan Layoffs...

The American Red Cross (ARC) announced a plan to cutback operations in its Great Lakes blood region and might terminate an estimated 230 employees, according to multiple news outlets in the Detroit area. Mobile blood drives would no longer be held in Lansing, Muskegon, Petosky, Flint, Kalamazoo and Grand Rapids. Because many are union jobs, […]