A late Illinois farmer donated his 163-acre homestead to Rockford, Ill.-based SwedishAmerican following his death in 1990. Nearly 30 years later, the hospital continues to collect 50 percent of the farm's profits, rrstar.com reports.
Donald Bork was hospitalized at SwedishAmerican, now part of Madison-based University of Wisconsin Hospitals and Clinics, between 1979 and 1981. Mr. Bork, who was interested in maintaining his farm following his death, gifted the farm to SwedishAmerican under certain conditions: the health system is not allowed sell it and it must be farmed, the report states.
In the past 20 years, Mr. Bork's gift has grown into one of the largest contributions to SwedishAmerican, generating more than $1 million in crop sales and rent income. The farm's overhead costs are managed under another farming family, which takes the other 50 percent of profits.
SwedishAmerican Foundation Director Laura Wilkinson told rrstar.com the hospital uses the money to underwrite patient benefits like its holistic health program.
For the full article, click here.