Englewood -- Executives of Englewood Hospital and Medical Center’s fundraising arm said they are not sure how the slow economy will impact raising $35 million from donors for the emergency ward expansion project that is under construction.
"It is difficult to say, but we are certainly going to be impacted by the economy, in terms of the level of gifts people feel comfortable giving," said the hospital’s foundation Executive Vice President Margaret Bridge. "We believe people are still going to be supportive, but they may not give as much."
The fundraising campaign is supposed to end late next year, but if the foundation has not reached the $35 million goal, Bridge said it would continue into 2010.
In the short term, bills still have to be paid and the foundation knows this.
Bridge noted that if it comes down to it they would consider short-term financing, but continue the fundraising efforts.
"We anticipated that might be a requirement for some short-term financing," she said. "Not significant, but maybe some."
Despite the poor economic news and the struggling financial and banking industries, the foundation reported raising $2 million more since July totaling $20 million.
"We are making progress," Bridge said, adding that she expects roughly an additional $2 to $3 million more to be raised by the end of the year.
The hospital’s emergency ward expansion project is scheduled to be completed fall 2009.
Construction crews started work March 13.
The new building will be called The Kaplen Pavilion — named after Bill and Maggie Kaplen who donated $5 million to get the project going.
When completed, the emergency ward will be a 35,000 square foot, state-of-the-art facility that will be three times the size of the current structure.
E-mail lang@northjersey.com or call 201-894-6710
