By Don Urquhart, Times Chronicle
A Penticton couple have donated $235,000 towards the Penticton Regional Hospital including a portion aimed at helping to attract medical professionals.
Jim Cavin, a former board member of the South Okanagan Similkameen Medical Foundation (SOS Medical Foundation) from 2014-2019 and his wife Marcia Cavin donated the funds with $50,000 of the total earmarked to purchase equipment for the new oncology department, and $185,000 allotted to establish the Cavin Recruitment Endowment Fund.
The purpose of the fund is to generate income that will be used to attract medical professionals to the Penticton area. Current plans aim for the fund to reach $1,000,000 over the next several years.
The fund will accept donations from parties wishing to help in this endeavour to help ensure quality healthcare availability for area residents into the future, according to the SOS Medical Foundation.
The Cavins are hoping to encourage other residents in communities served by the regional hospital to consider this type of gift to help elevate healthcare in the South Okanagan Similkameen.
This is the second financial donation the Cavins have made since moving to Penticton in 2010, including the $134,000 they have contributed previously to purchase equipment for the hospital.
An endowment fund with the foundation functions like an investment account dedicated to the community’s healthcare. Contributions are invested either permanently or for a set period, and after one year, the earned income is distributed to the area(s) of care specified by the donor.
Ian Lindsay, SOS Medical Foundation CEO, stated, “Jim and Marcia’s thoughtfulness and generosity will indeed be a lasting gift for the health of the South Okanagan Similkameen community.”
For more information on supporting the $10 Million Oncology campaign or details on setting up an endowment fund contact Ian Lindsay, CEO of the SOS Medical Foundation, by phone at 250-492-9027 or by email at [email protected].
