Annual Report for the fiscal year ended September 30, 2003

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
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 MarwickDownload PDF.

Fiscal Year 2002-03 Grant Recipients

Access Community Health Network Evanston Northwestern Healthcare
Advocate Charitable Foundation:

  • Christ Hospital and Medical Center
  • Illinois Masonic Medical Center:Angelo P. Creticos M.D. CancerCenter and Visiting Professorship, Department of Internal
    Medicine;Eye Center
Gilda’s Club Chicago
Grantmakers in Health
Greek-American Nursing Home Committee
Illinois College of Optometry
Interfaith House
Allendale Assocation Jewish Community Centers of Chicago:Bernard Horwich Jewish Community Center
American Committee for the Weizmann Institute of Science Keshet
American Indian Health Services of Chicago La Rabida Children’s Center
American Medical Association Foundation Lake County Council Against Sexual Assault (LaCASA)
Anixter Center Les Turner ALS Foundation, Ltd.
Chicago Anti-Hunger Federation Lutheran Social Services:Behavioral Health in the Northwest Suburbs
Chicago-Greater Illinois Chapter, National
Multiple Sclerosis Society
Medbrook Children’s Charity
Children’s Home and Aid Society of Illinois Mount Sinai Hospital
Children’s Memorial Hospital Night Ministry
CoACH Care Center North Park Friendship Center
Community Health Center Oak Park & River Forest Infant Welfare
Society
Cook County Hospital PCC Community Wellness Center
Council on Foundations Roseland Christian Health Ministries
Counseling Center of Lake View Rush Presbyterian St. Luke’s Medical Center: Geriatric
Education Center
Donors Forum of Chicago Shanti National Training Institute
Dr. William M. Scholl College of Podiatric Medicine at Finch
University of Health Sciences/The Chicago Medical School
University of Illinois:School of Public Health;Department of Ophthalmology and Visual Sciences.
Easter Seals Metropolitan Chicago Zarem/Golde ORT Technical Institute