Hoag Hospital Foundation in California has announced the receipt of its largest donation to date – an irrevocable estate gift currently valued at $53 million. The Foundation intends to use the bequest to support a variety of needs including advanced technology, innovative programs, world class clinical staff and exceptional facilities.
The bequest was left in the will of the late Jeffrey Carlton, a wealthy businessman from California. Mr Carlton’s father, the late Allan Carlton, Jr, was also a known philanthropist and had been a long-time supporter of the hospital.
The Carlton Estate will become a foundation that will make a significant annual distribution to Hoag Hospital Foundation over the course of many years. In gratitude and recognition, Hoag is committing the first $15 million to the Heart & Vascular Institute which will be renamed the Jeffrey M. Carlton Heart & Vascular Institute.
“This will be the first of many ways we plan to honor Mr. Carlton’s extraordinary generosity,” announced Flynn A. Andrizzi, Ph.D., Hoag Hospital Foundation president and Hoag senior vice president. “The impact of this gift cannot be overstated; it will be felt by Hoag and our community for years to come.”
According to Andrizzi, the gift also represents an auspicious beginning to the Foundation’s upcoming campaign, which has an initial goal of $500 million by 2020.
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