Pictures from the Woolley-Pettis Endowment Dinner, February 24, 2015 at the Toscana Country Club, Indian Wells, California.

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Woolley-Pettis Endowed Chair Fund

Big Hearts for Little Hearts Desert Guild created the Woolley-Pettis Endowed Chair Fund to support pediatric research and teaching at Loma Linda University Children’s Hospital (LLUCH) and to honor E. Jane Woolley, M.D. and The Honorable Shirley N. Pettis Thompson -- two visionary women who established the Desert Guild through their passion and desire to help children.

The Woolley-Pettis Endowed Chair will be an appointed position permanently paid for with the revenue from the Woolley-Pettis Endowed Chair specifically set up for that purpose. The Woolley-Pettis Endowed Chair will benefit patients at Loma Linda University Children’s Hospital by providing a physician who does not have to be paid entirely out of the operating budget, allowing the hospital to reduce the direct money that would otherwise have been spent on salaries toward other patient needs.

The funds of the Woolley-Pettis Endowed Chair will be overseen by a board of trustees and managed by a professional team of financial investors. At Loma Linda University Children’s Hospital, typically an amount (derived from investment earnings and growth) equivalent to 4% of the endowment’s assets is spent annually to achieve the stated objectives of the endowment. Any excess earnings are typically reinvested to augment the endowment and compensate for inflation and recessions in future years. The spending rate represents the proportion that historically could be spent without diminishing the principal amount of the endowment fund.

Amongst healthcare institutions, endowed chairs have become the gold standard for recruiting and retaining the very best faculty. Loma Linda University Children’s Hospital remains on the forefront of medical care, competing for, recruiting and retaining the very best physicians and researchers in the nation.

 
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