MINNEAPOLIS (May. 1)
A gift of $1,500, 000 for the creation of an endowment fund was made here to Mount Sinai Hospital by the Phillips Foundation, headed by Jay Phillips, president of Mount Sinai since it was founded 12 years ago. In announcing the gift and its acceptance, the hospital’s board of governors declared that the new hospital wing, new under construction, will be named in memory of Mr. Phillips’ late sister, Mrs. Bertha Phillips Fiterman. The new wing will have a 300-bed capacity.
Conditions of the endowment fund include: 1. Principal is not to be used for a period of 20 years without written consent of the Foundation; 2. The income to be used is to be determined by the board of governors of the hospital, with emphasis on the support of a teaching and research program; 3.At the end of 20 years, the funds become unrestricted, to be administered by officers of the hospital in the same manner as other funds.
The American Jewish World here, commenting on the gift, declared editorially: “The Phillips Foundations gift of a million-and-a-half dollars to the Mt. Sinai Hospital is a profoundly gratifying deed–an act of compassionate benediction. We, the townsmen of Jay Phillips, the distinguished communal leader who heads the Foundation which has made the extraordinary benefaction, pay him our tribute of appreciation for an incalculably useful gift–and our admiration for the utter selflessness of the deed.”