Richardv wrote:
That seems very, very low. $200,000?
I hope it is for one year.
What is the salary of the executive(s) running the centre? it is probably near that amount annually.
I think the idea is the cumulative funds raised would go into an endowment style fund where the interest goes to offset operating costs. I'm just guessing. That's what universities do all the time. With this plus what Mattamy gave they're just under 1M. Not too shabby. Wisely invested, the interest they make on that alone would cover a decent full-time librarian position give or take. Given that amount is 2 corporate donations, they go do pretty decently with a groundswell of community support and further corporate donations.
I really have no doubt we'll see similar donations or better when fundraising for the hospital expansion starts.