New Century Exec Donates Millions to Hospital

The co-founder of one of the nation’s most prominent subprime lenders has made a sizable donation to an Orange County, Calif., hospital.New Century Financial Corp. co-founder and Vice Chair of Finance Edward Gotschall and his family has donated $3 million to Mission Hospital in Mission Viejo. In recognition of the gift, the hospital is naming its newly expanded trauma center after the executive and his family. The Gotschall Family Trauma Center, scheduled to be completed in 2006, is located within Mission Hospital, a not-for-profit organization. Hospital officials said the trauma center, one of three in the county, handles about 1,000 cases a year. In addition to the donation, Gotschall and his wife Susan have also agreed to participate in the hospital’s “Partners For Life” fundraising effort designed to help offset additional expansion project costs.

Ed and Susan Gotschall

“We are deeply grateful for Ed and Susan Gotschall’s spirit of giving and their commitment to our healthcare ministry,” Peter F. Bastone, President and CEO of Mission Hospital told MortgageDaily.com in an emailed statement. “Their generous donation and commitment from Ed to chair the public phase of Mission Hospital’s $50 million capital campaign will allow the hospital to expand to meet the growing healthcare needs for all south Orange County residents.”Hospital officials said the Gotschall donation is the second largest gift ever received from a private individual.

“Like others in our community, Susan and I want the comfort of knowing that we have access to the healthcare we need, when we need it,” Gotschall said in a recent press release. “Mission Hospital is a vital resource that our neighborhoods count on to provide expert patient care and to save lives. We’re pleased we can help ensure the hospital will continue to serve all of us for years to come.”

Gotschall, 49, co-founded New Century in 1995 and has served the company in multiple capacities since its inception. An Arizona State University graduate, Gotschall reportedly holds a Bachelors of Science degree in Business Administration.

Irvine, Calif.-based New Century is one of the nation’s largest nonprime mortgage finance companies, with $10.2 billion in production reported for the first quarter.