A gift from the past is giving Texas Scottish Rite Hospital for Children a boost for the future.
With the oil boom, the hospital has received roughly $500 million in oil and gas royalties over the past four years, most of it related to a West Texas ranch donated to the organization in the 1960s.
Those royalties helped the not-for-profit hospital nearly double the value of its own investments — the institution’s endowment — to about $2 billion over the same time span.
Last year, Scottish Rite revealed plans for a multimillion-dollar outpatient care center in Frisco, the organization’s first satellite expansion from its central Dallas location.
“We are blessed,” said Lyndon Olson Jr., chairman of the board of trustees.
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Originally published by the Dallas Morning News on July 6, 2015