Questions
and Answers
Q. What
is the Generations of Care campaign?
A. The Generations of Care campaign is a unique opportunity
for the greater Mankato community to team up with employees
and friends of Immanuel St. Joseph's Hospital to raise funds
necessary to construct new heart and cancer centers.
Q. What
are the proposed improvements?
A. The primary focus will be to expand capabilities
for treating heart disease and cancer. The project involves
construction or renovation of almost 100,000 square feet on
the hospital's northeast side, beginning in 2006.
Q. What is the cost of these improvements?
A. While all costs are not finalized, it is anticipated the
project costs will be more than $35 million.
Q. That’s a lot of money. Is all of it coming
from Mankato?
A. No, it’s not. In fact, private donors from the Mankato
area are only being asked to contribute about $9 million.
Three-quarters of the entire cost will come from Mayo Clinic
and its partner, Immanuel St. Joseph’s.
Q. $9 million is still a significant sum.
A. $4 million was raised to build the original hospital at
its present location in 1953. However, that was the equivalent
of $29 million in today’s dollars. Essentially, we are
seeking less than one-third of that amount.
Q. Why isn’t Mayo Clinic paying for all of this
expansion?
A. In fact, Mayo Clinic and Immanuel St. Joseph’s will
pay for the majority of this expansion. They will invest three
dollars for every one dollar raised locally. But we must realize
that even Mayo Clinic doesn’t have endless resources.
That is why this community partnership is so important.
Q. How much of my gift will be used for administration
or campaign expenses?
A. None. One hundred percent of your gift to the Generations
of Care campaign will go to the planned expansion of the hospital.
Q. Is my gift tax deductible?
A. Absolutely! Your gift is tax deductible according to Internal
Revenue Service regulations. However, we recommend you confer
with your estate planner and accountant to maximize your tax
benefit.
Q. I want to give but not necessarily all at once.
May I make a
pledge?
A. Yes. Donors may pledge to give over a three-to-five year
period.
Q. May I give gifts other than cash or monetary donations?
A. Yes. We can accept matching gifts, appreciated property
and stock, real estate, and closely held stock. Please contact
our Foundation office at 507-385-2932 for more information.
Q. Will Immanuel St. Joseph’s employees and physicians
also be giving?
A. Yes. Hospital employees and physicians are committed to
this effort and will invest in it through payroll deductions
or direct donations.
Q. Where can I learn more?
A. You may call the Foundation office at 507-385-2932 or visit
us on the Web at www.isjfoundation.org. You can learn more
about the hospital at www.isj-mhs.org.
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