Becker's Hospital Review

17 CFO / FINANCE Northwell exceeds $1B in fundraising campaign By Molly Gamble N orthwell announced Sept. 22 that the system-wide fundraising campaign it launched in 2018 has surpassed $1 billion. The New Hyde Park, N.Y-based health system launched the campaign, Outpacing the Impossible, in October 2018 with the goal to raise $1 billion. Since then, nearly 170,000 donors — including individuals, corporations and foundations — contributed more than $1.02 billion. Northwell employees made up 11,600 of the donors — including 100 percent of Northwell's leadership — who collectively contributed more than $15 million. The $1 billion breaks down to $422 million in programmatic gifts, $412 million in capital gifts and $186 million in endowment gifts. A comprehensive list of capital and programmatic achievements — and what the funds supported — can be found here. With its $1 billion milestone met, Northwell's Outpacing the Impossible campaign will extend through December 2024 to raise an additional $400 million. "We don't believe in limits. We set a goal to raise $1 billion and we've done that," said Northwell Health President and CEO Michael Dowling. "The extraordinary generosity from our donors has significantly boosted advancements in research, education, prevention and treatment. Philanthropy is an investment in one another, in our community and in the future, and it saves and improves people's lives." n Is a 'white-collar' recession coming? By Ayla Ellison T he jobs of young professionals in several white-collar industries are particularly vulnerable as companies scale back hiring plans, pull job listings and lay off workers. Sixty-five percent of employers see a recession coming and many are taking steps to prepare, according to a survey by Principal Financial Group. If there is a recession, white-collar industries are likely the most vulnerable, said William Lee, PhD, chief economist at the Milken Institute, according to Bloomberg. "The entry-level white-collar guy is going to have to watch out. That's going to be the surprise in this downturn," Dr. Lee said, according to Newsweek. A Challenger, Gray and Christmas survey revealed companies are preparing for a recession by reducing business travel, laying off staff and implementing hiring freezes. Many industries, including technology, banking and business services, have staffing numbers that are far above pre-pandemic levels, and the layoffs have already begun, according to Bloomberg. Social media platform Snap, Netflix and Re/Max Holdings are a few of the companies that have recently announced staff reductions. n ample balance sheet resources, Moody's said. Inova's financial excellence will remain undergirded by its favorable regulatory and economic environment, the credit rating agency said. 10. Salt Lake City-based Intermountain Healthcare has an "Aa1" rating and stable outlook with Moody's. e health system has exceptional credit quality, which will continue to benefit from its leading market position in Utah, Moody's said. e credit rating agency said the health system's merger with Broomfield, Colo.- based SCL Health will give Intermountain greater geographic reach. 11. Omaha-based Nebraska Medicine has an "AA-" rating and stable outlook with Fitch. e health system has a strong market position and is the only public academic provider in Nebraska with high acuity services, Fitch said. e health system continues to generate positive operating cash flow levels, and it has modest flexibility to absorb additional debt, according to the credit rating agency. 12. Fort Wayne, Ind.-based Parkview Health has an "Aa3" rating and stable outlook with Moody's. e health system has a leading market position with expansive tertiary and quaternary clinical services in northeastern Indiana and northwestern Ohio, Moody's said. e credit rating agency said the stable outlook reflects management's ability to generate strong operating performance during the pandement and with less favorable reimbursement rates. 13. UnityPoint Health has an "AA-" rating and stable outlook with Fitch. e Des Moines, Iowa-based health system has strong leverage metrics and cash position, Fitch said. e credit rating agency expects the health system's balance sheet and debt service coverage metrics to remain robust. 14. Yale New Haven (Conn.) Health has an "AA-" rating and stable outlook with Fitch. e health system's turnaround efforts, brand recognition and market presence will help it return to strong operating results, Fitch said. n

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