the financial future of McNally House looks brighter
Thanks to the generosity of Patrick and |Nancy McNally, the financial future of McNally House looks brighter. The McNally’s have donated $1.6 million to establish two endowment funds that will support the ongoing operations of the organization.
“Nancy and I were approached by Dr. Denise Marshall about the on-going funding challenges faced by McNally House,” said Patrick McNally. “The hospice has an important role to play in our community and we wanted to find a way to provide some on-going support. Setting up the endowment funds was the perfect solution for our family.”
The endowments will ease the annual fundraising burden for McNally House, which raises more than $600,000 annually from the community. Until now, financial support has come from memorial gifts, donations and special events. The McNally’s gift will be held in perpetuity in two new endowment funds - the McNally House Endowment Fund and the Patrick and Nancy McNally Family Fund. The Niagara Community Foundation will hold and manage the funds, directing a portion of the annual earnings to support McNally House.
“This is a dream come true,” said Dr. Denise Marshall, Medical Director of McNally House. “Patrick and Nancy have a profound understanding, not only of the moral imperative of exemplary end of life care, but of the need for sustainability of such care. This was evidenced by their original commitment to the build and now with their wisdom around ensuring that McNally house is sustainable. They know the numbers. It requires $412 a day to operate each of the six patient beds at McNally house. But this is a fraction of what it would cost if that same person had to end up in hospital at end of life. This is a magnificent ‘call to arms’ for our entire community - an open invitation for others to follow suit. I like to think of this as a ‘call to embracing arms’”