Tech Companies to Aid Stanford Hospital

February 3, 2011 at 6:37 PM Leave a comment

A corporate philanthropy program driven by several Silicon Valley giants will raise $150 million for an expansion to Stanford University’s hospital, reports Palo Alto Online.

The new Stanford Hospital Corporate Partners Program — which includes Hewlett-Packard, Apple, eBay, Intel, Intuit and Oracle — is expected to bring in the funds over the next 10 years. The corporate contributions would be in addition to $400 million the hospital hopes to raise in private donations.

The new $2 billion hospital is expected to be completed by 2018, with construction beginning as early as this year pending approval from the City of Palo Alto. It is part of a larger $3 billion expansion that includes Lucile Packard Children’s Hospital, the Stanford University Medical Center and Stanford clinics.

Notwithstanding this effort, charitable contributions to colleges and universities were fell slightly again last year, once adjusted for inflation, Inside Higher Ed reports:

Adjusted for inflation, the contributions fell by 0.6 percent in the year, and by 8 percent compared to 2006. While such figures might have discouraged fund raisers in years past, any gain at all is viewed as positive for 2010, following the 2009 decline of 11.9 percent. That was the steepest drop recorded since the council started tracking giving to colleges, in 1969.

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Entry filed under: Corporate Philanthropy & CSR.

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