The Shadow
DEAR AUNT MARY:
When does The Alleghany Foundation present its record of how much money it started with and how much it has now?
I understand the hospital was sold for approximately $37 million. The last time I read about how much The Alleghany Foundation had, it was approximately $60 million.
I understand the assets are growing at a faster rate than they are being given out. Can you tell me how much money The Alleghany Foundation has now? Thank you for any information you can give me.
CITIZEN
DEAR CITIZEN:
The Alleghany Foundation started out with approximately $35 million in assets, derived from the sale of Alleghany Regional Hospital.
The Foundation produces an annual report and according to the one produced last year, its assets stood at just over $60 million.
To my knowledge, a report has not been produced for 2010 yet. The report will be made available at
www.alleghanyfoundation.org, after it is finalized.
In the meantime, I suggest you contact Mary Fant Donnan, the Foundation’s executive director, 962-0970. I am sure she will be happy to assist you with your questions.
Her office is located at the StellarOne Bank Building, 450 W. Main St. in Covington.
AUNT MARY
