Annual Report 2003

• Mission Statement
• President’s Message
• Statement of Activities
• Grant Recipients
• Highlighted Grants

Mission Statement

Realizing the healthcare crisis in our country, the Board of Washington Square Health Foundation, Inc. recognizes that no one foundation can meet all the challenges of the healthcare environment. However, the Foundation has developed a program of grant making which is designed to be both a catalyst and guide for other foundations and grant making organizations in meeting the various needs of the Chicagoland healthcare community. The Washington Square Health Foundation, Inc. grants funds in order to promote and maintain access to adequate healthcare for all people in the Chicagoland area regardless of race, sex, creed or financial need. The Foundation meets this goal through its grants for medical and nursing education, medical research and direct healthcare services.

As a guide to other foundations and other service providers and as a part of the Board’s stewardship of charitable funds, the Washington Square Health Foundation, Inc. has developed a grant evaluation system to ensure that the objectives of various projects are carried out in the manner prescribed by the approved grant.

The Foundation wishes to impress on the philanthropic community that the careful evaluation of the outcomes of grant projects is as important as the appropriate selection of grant recipients.

President’s Message

Dr. Angelo P. Creticos

This year I have decided to reprint as my Annual Message the Guest Speaker’s Presentation, entitled “Reflections on the Chicagoland Health Care System” at our Annual Grant Information Exchange Dinner held this past December by Mrs. Ruth M. Rothstein,Chief of the Cook County Bureau of Health Services since 1991. Mrs. Rothstein has distinguished herself as one of the foremost leaders in developing accessible and comprehensive health care services in the Chicagoland area. Among her many accomplishments, she has created national models for access and delivery of health care services for residents of medically and economically disadvantaged communities.

She currently serves or has served on numerous boards, commissions and committees, including the American Hospital Assoc., IL Health & Hospitals Assoc., Nat’l Assoc. of Public Hospitals, IL Health Care Cost Containment Council, the University of Chicago Health Policy Research Council, Finch University of Health Sciences/The Chicago Medical School, Inst. for Diversity in Health Management, the Jewish Women’s Foundation of Metropolitan Chicago, and as VP of the Jewish Federation Board of Directors.

President Angelo P. Creticos MD presents a check to Mrs. Ruth M. Rothstein, Chief of Cook County Bureau of Health Services for a grant made to the County Care Foundation, for the Cook County Bureau of Health Services.

Among the many recognitions that she has received for her contributions to the field of health care and her community are the Chicago Civic Federation’s Lyman Gage Award for Individual Civic Achievement, the American Hospital Assoc. Russe Award, the Chicago Minority Business Development Council’s Impact Award, the Chicago Institute of Medicine’s Russe Citation for Compassion in Medicine, and Rush University’s highest honor, the Trustee Medal. She holds an Honorary Doctorate of Laws degree from Kenyon College, and an Honorary Doctor of Humane Letters from Rush University. I believe Mrs. Rothstein’s presentation is an excellent review of the historical roots of today’s health care crisis, as well as an insightful analysis of the pertinent issues.

Statement of Activities

	Year ended September 30, 2003
	Grants & Program Related Investments (PRI)	$ 715,740
	General Administrative Expense	399,400
	Professional Investment & Custodial fees	102,073
	Provision for federal excise tax	4,000
	Unrestricted Net Assets	$23,244,799*
*Partially as a result of the September 11, 2001 “Terror attack” and the continued decline and uncertainty in the equity markets, the foundation’s assets were severely impacted as of the close of its fiscal year (September 30, 2001), by a decrease of over $7 million for the 2000-2001 fiscal year and an additional $2.3 million decrease for the fiscal year 2001-2002.The official and complete audit as certified by KPMG Peat Marwick.

Fiscal Year 2002-03 Grant Recipients