Planned Giving Program

Planned Giving WallThe Scandinavian Home began in 1930 “to provide a loving home for aged men and women of good repute.” The founders and early residents could never have imagined that our original “rest home” would evolve into a skilled nursing facility providing care that at one time only a hospital could offer. Nor could they have imagined the extent to which government reimbursement policies threaten our financial health.

We think our founders would be very proud of us today. Proud that the Scandinavian Home is one of the most desirable, best managed nursing facilities in the state. Proud that we remain driven by an uncompromising insistence on quality in our staff, facilities and care. Proud that we retain the warmth, spirit and traditions which have been our hallmark for 75 years.

Nursing homes throughout the country are struggling to survive. In the year 2000, over 2,000 nursing homes across the country filed for bankruptcy. Seven in Rhode Island have closed and several others are in jeopardy of closing. The Scandinavian Home has been able to sustain excellence because of the farsighted generosity of people who have contributed to our endowment fund. Their gifts are more than a link to our past. They are the source of our current strength and the foundation that shapes our future.

To commemorate its 75th Anniversary, the Scandinavian Home launched a campaign to significantly increase the endowment fund. It is our hope that you will consider a gift to the Endowment Fund and join us as we continue our mission of providing quality care to our residents and their families.

Couple hugging at Scandinavian HomePhilanthropic Resources at Work:

No one knows what the future brings, but our endowment has always enabled us to respond to changing needs and expectations.

Endowment resources are used for capital improvements and new projects
In 1991, endowment funds were used to help remodel the nursing home and provide equity towards the construction of our assisted living center - one of the first and finest in the state. These capital improvements have kept us at the forefront in services to the elderly and enabled us to maintain full occupancy and financial stability.

Endowment resources help us broaden our services
In 2001 we expanded our continuum of care with an assisted living and Alzheimer's care facility. The Seasons of East Greenwich is a joint venture with Steere House Nursing & Rehabilitation Center which opened in December 2002. We continue to look for more opportunities to further our mission.

Endowment resources supplement operating income
Each year, endowment helps offset the gap between Medicare and Medicaid reimbursements and the actual cost of care. Today, 70% of our residents are on Medicaid and our un-reimbursed costs are approximately $350,000 per year. Regrettably, there is no indication that this chronic under funding will change in the foreseeable future.

Endowment resources enable us to keep our facilities in top condition
Replacement of hot water systems, emergency generators, boilers and other capital expenditures are necessary behind the scene improvements that keep our residents comfortable and safe and our facilities up to modern standards. The endowment and charitable gifts are our only source of funding for these essential projects.

 
Copyright ©2004 The Scandinavian Home, Inc.