Hospital fundraising campaign
already at $16.6 million

(February 4, 2005) Unprecedented community support for the goals of Cottage Health System and the replacement of Santa Barbara Cottage Hospital has resulted in charitable donations over the past year of more than $16.6 million. These funds will be applied toward the $100 million goal of The Campaign for Cottage Health System, announced just one year ago this month.

Celebrating this early landmark were charter members of the Cottage Founders Society, a group of donors who have pledged at least $50,000 toward the Campaign. They were honored recently by the hospital at a special reception to recognize their generosity, as well as to acknowledge the work that remains in generating additional philanthropic support for the replacement hospital project, now going through the City review and approval process.

An early campaign pledge of $10 million from Lord and Lady Ridley-Tree led the way last March, with the year culminating in a $1 million gift from Michael Towbes. One of the new 100-bed nursing pavilions will be named for the Ridley-Trees, and the board of directors meeting room in the new hospital will be named for Mr. Towbes, a long-time leader of Cottage's voluntary board. A third platinum-level donor, designated for those pledging more than a million dollars, has requested anonymity.

"The level of generosity and commitment of this community is truly quite extraordinary," said Cottage fundraiser Suzanne Dalston, who was recruited in 2003 from the Chicago area as vice president for development and public relations. "As a relative newcomer to the area, what strikes me as most evident is the extraordinary pride so many people have in their community hospital. There is no question that they want to continue having the very best teaching and trauma facility in their midst. Moreover, they understand the ambitious goal we have set and are willing both to help us spread the word about our need as well as to make their own personal commitment."

Gold-level members of the Founders Society, those pledging between $100,000 and $999,999, include Mr. and Mrs. John C. Bowen, Ms. Cathy Carter Duncan, Mr. and Mrs. Robert R. Hollman, Mr. and Mrs. Stephen Hahn, Mr. and Mrs. Robert T. Knight, Mr. and Mrs. Eli Luria, Mr. and Mrs. Steve Lyons, Mr. and Mrs. John R. Mackall, Mr. and Mrs. Eugene F. Reid, and Dr. and Mrs. Nicholas J. Vincent. In addition, the following Trusts and Foundations have made Campaign gifts at the gold level: The Birdwell Family Trust , The Douglas Foundation, The Hutton Foundation, The Alice Tweed Tuohy Foundation, and The Wood-Claeyssens Foundation--as has Venoco, Inc.

Silver-level donors, representing gifts between $50,000 and $99,999, include Mr. and Mrs. Larry Hammett, Mr. and Mrs. Ron C. Werft, RE/MAX Santa Barbara, and two anonymous benefactors.

The phased construction plan for replacing Santa Barbara Cottage Hospital to new seismic standards--an unfunded State requirement for all acute-care hospitals and one that carries strict deadlines for compliance--is estimated to cost the not-for-profit hospital in excess of $400 million*. Cottage has stressed that no public tax monies are being used for this project. Instead, funding will come from the following sources:

•  Hospital operations and reserves ($100 million)

•  A tax-exempt private bond ($100 million)

•  Santa Barbara Cottage Hospital Foundation assets ($100 million)

•  The Campaign for Cottage Health System ($100 million)

Those interested in learning more about The Campaign for Cottage Health System can contact Suzanne Dalston in the Development Office, (805) 879-8980.

-end-

(* December 2005 postscript: By the end of 2005, the estimates for rebuilding were approaching $500 million.)