St. Paul Medical Foundation to donate more than $13 million to UTSW; will cease operations at the end of this month
St. Paul Medical Foundation will donate all of its assets, now more than $13 million, to UT Southwestern Medical Center, and close Sept. 30.
“It’s been a great run of 52 years,” said Board Chairman Vin Perella, “but our mission and goals echo those of UT Southwestern so closely that good stewardship and economies of scale dictate that this is the time for such a move.”
Endowments designated to specific uses, such as care of the indigent, and heart, lung, vascular, and cerebrovascular programs, will continue to be dedicated specifically for those uses.
A $1 million capital grant will be used to remodel and name the seventh-floor nursing station at Zale Lipshy University Hospital, an area dedicated to the care of stroke patients.
In addition, three special endowments will be established with the gift:
- A grant of $1 million will establish the Jan and Jim Hinckley/St. Paul Foundation Endowment for Pulmonary Research and Programs;
- $400,000 will establish the Father Jack Deeves, S.J./St. Paul Foundation Endowment for Chaplain Services to support UT Southwestern’s Chaplain Services program, which has been one of the foundation’s historical key focuses; and
- The St. Paul Foundation Endowment for Compassionate Medicine in honor of Sally Ridgway will be created for training and enhancement of UTSW’s compassionate medicine programs.
All of the other assets will be gifted to UT Southwestern to be used for the benefit of their patients and programs.
As employees of the Foundation are being offered positions in the UTSW Department of Development, their skills and experience will continue to benefit the Medical Center by furthering excellence in medicine through philanthropy.
“The St. Paul Medical Foundation and its leaders can take great pride in its legacy of good works through supporting the St. Paul Hospital and, in recent years, the efforts of UT Southwestern Medical Center as its successor,” said Dr. Daniel K. Podolsky, President of UT Southwestern, who holds the Philip O’Bryan Montgomery, Jr., M.D. Distinguished Presidential Chair in Academic Administration, and the Doris and Bryan Wildenthal Distinguished Chair in Medical Science. “We are humbled by the confidence of the Foundation in entrusting us as stewards of its resources in the future. We are delighted that those who have been committed to the Foundation will remain as deeply engaged with UT Southwestern.”