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Tuesday, September 15, 2009

Mini- Update on Financials at the Endowment

Here is some information that I received in response to my questions about the Katie Gerstenberger Endowment for Solid Tumor Research at Seattle Children's Hospital.

Question:  What is the current principal amount in the Katie Gerstenberger Endowment for Cancer Research?
In July of 2008, the Katie Gerstenberger Endowment at Seattle Children's Hospital had a principal value of over $79,480.00. Seattle Children's Hospital is nearing completion of its annual financial reports on endowment performances (this updated information will be available soon). Individual endowments (like Katie's) are pooled with Children’s United Endowment Fund (UEF). Due to last fall’s dramatic stock market downturn, Children’s UEF was negatively affected.

For the one-year period from April 1, 2008 to March 31, 2009, Seattle Children's UEF declined by 29%. In contrast, the Standard & Poor’s 500 declined 38% in the same time period, which means that the UEF declined less than this benchmark index. The Good News: Recovery in the Unified Endowment Fund, from March 31, 2009 to June 30, 2009, was 15%.

Question: How much money has Katie's Endowment generated for cancer research in the past year?
Like the overall Children’s UEF, Katie’s endowment principal has declined in value; even so, the Katie Gerstenberger Endowment generated income of $2,494 between April 1, 2008-March 31, 2009. The principal remains in the endowment, and its income is used to fund research.

Since Katie’s endowment principal has declined in value, the distributions to support cancer research will be correspondingly smaller as we go forward. To recover the original value of the principal, Children’s will continue its prudent and broadly diversified investment strategy.

Question: What else can be done to help?
You can contribute to the endowment, and encourage family and friends to do the same, so that the principal recovers its original value faster. Simply put, more principal means more income generated, which equals more research toward finding cures for cancer.

Thank you for your support of Katie's Endowment for Cancer Research!

Information from National Institutes of Health on Adrenocortical Carcinoma

If you are interested in reading more about adrenocortical carcinomas, you can click on this link, which leads to an article on the topic. On the right side of the page is a listing of related articles. The National Institutes of Health website has information on a wide range of cancer topics. Click on this link if you want to search the NIH site.
Most pediatric cancers are viewed and treated differently than cancer of the same name in adults, because children respond differently to treatment.