Anonymous donor gives $22M to Yarmouth Hospital Foundation
Money is single largest donation in charitable foundation's history
Rumors were running wild through Yarmouth, N.S., that a big announcement was coming from the charitable foundation that helps supports the local hospital. But just how big it was came as a surprise to everyone.
"Yes, you heard me correctly — $22 million. And I think I detect a few wows out there," Dr. Harold Cook, chair of the Yarmouth Hospital Foundation, said Wednesday morning at a virtual press conference held at the Yarmouth Regional Hospital.
Cook said it is by far the largest single donation the foundation has ever received. It came from a donor who wishes to remain anonymous.
"It really is a game changer in terms of the opportunities that will now exist for the foundation," said Dr. Brendan Carr, CEO of Nova Scotia's health authority. "I know they will use this as an opportunity to continue to engage many partners in the spirit of how we can do our very best for health care within the southwest region of Nova Scotia."
The foundation will be investing the gift to maximize its amount. Up to five per cent of the donation, amounting to $1 million annually, will be allocated from income generated.
The foundation is planning to direct 85 per cent of the allocation to equipment, special projects and program enhancements at Yarmouth Regional Hospital. The remaining 15 per cent will be allocated to programs and services in the local community.
"The announcement is stunning and just jaw dropping, to be honest," said Dr. Brian Moses, chief of medicine for the health authority's western zone.
He said the donation should help entice doctors to come to the area. "All people in health care want to provide for patients in the best way they can, and when you can do that in a facility that has the best equipment it's a much more attractive option to come and work there."
Cook called it an "an exceptional and extraordinary situation."
"It just feels really good to celebrate that this is going to have a long-time impact on our community," he said.