Children's Medical Center
Boston Children's Hospital is a subsidiary of Children's Medical Center (CMC), which is a not-for-profit parent holding company that manages the hospital's investments and conducts fundraising activities for the benefit of the hospital.
The financial statements for CMC in FY07 showed a substantial gain based on a successful investment strategy. $44 million of that gain was returned to the hospital to support its operations in meeting its missions; the remaining surplus went to the endowment as an "unrealized" gain. Unfortunately, the economic downturn in FY08 more than diminished the surplus generated in FY07.
Through the generosity of donors, prudent investments and the generation of a surplus when possible, CMC maintains an endowment to support the various missions of Boston Children's Hospital, particularly when it comes to the capital expenditures required to meet the most challenging of health care needs.