Each of these programs enjoyed a strong performance the past two years. The foundation's major gifts division under the leadership of Arden Flamson, Ginny Ueberroth and Sandy Sewell has been preparing for the Hoag Women's Pavilion capital campaign. Hoag Hospital enjoys an enviable reputation for quality patient care. Prior patients and friends are willing to share a portion of their assets in a charitable estate plan to benefit hospital needs as well as their own retirement plans. This past year welcomed the arrival of 16 bequests, two matured charitable trusts, three new gift annuities, a charitable remainder trust, and additions by two donors to their existing trusts.
Every dollar received by the foundation is invested that same day.
Cash is kept liquid and available to the hospital when needed. Hoag also continues to build the endowment as an asset for future needs of the hospital. Thanks to strong market performance and careful investments, the organization has enjoyed additional earnings to add to our cash receipts. We are pleased to add that gift results in FY99 were the highest ever achieved by the foundation. Counting receipts and reporting financial results is important.