(George Town, Grand Cayman) With the help of an anonymous angel donor, Jasmine, Cayman’s only palliative and hospice care provider, launched an Endowment Campaign on Tuesday of this week with a breakfast event at the Kimpton Seafire Resort to help ensure the organization’s long-term sustainability.
“We know this community is incredibly generous – the Jasmine Villa is a testament to that. But as demand for services and the cost of doing business rises, so do expenses. The Jasmine Board of Directors is looking to the future, hoping to ensure everyone in Cayman has access to free palliative, hospice, and bereavement support for decades to come. We are incredibly fortunate that this anonymous donor sees the solution and vision of the future that we do as a Board,” said Danielle Coleman, the Chair of Jasmine’s Board.
Jasmine received a pledge of US$500,000.00 in seed capital for an endowment fund. The angel donor has also pledged to match up to US$125,000.00 in additional donations to the Jasmine Endowment Fund each year for the next five years. The funds will be invested, and the return on the investment will go to fund Jasmine’s annual operating expenses.
Jasmine is the only Cayman-based, direct services-providing charity in Cayman to offer an endowment as a way for savvy donors in both Cayman and the U.S. to ensure their donation makes a lasting impact. The over-arching goal is to have the endowment fund’s annual returns cover most of Jasmine’s annual operating expenses within five to ten years.
With the increased demand for services year on year and escalating costs, an endowment fund will secure Jasmine’s future. Whilst Jasmine will always require support from the community, having a level of operational security will be a huge step forward.
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