The science of health care changes so rapidly today that even the finest hospitals are challenged to keep their facilities, equipment and staff current. As a society, we are also facing serious challenges to the adequate financing of health care, including the growing number of uninsured patients and the government’s failure to reimburse hospitals for the cost of caring for its patients. It simply is not possible to fully fund hospital services from operating revenue alone. More than ever before, Memorial Healthcare must find ways to weather these storms and maintain the standards of excellence the community has come to expect.
Building a strong endowment is one of the most critical steps an organization can take to help see it through these challenging times. Endowments provide a permanent source of funding for a myriad of health care needs and can stabilize the flow of resources in volatile times. Endowment gifts are invested by the Foundation in support of changing health care needs from sponsored care to new technology to new facilities.
An endowment fund operates in perpetuity. Only a portion of the earnings on the original gift may be spent each year, according to the Foundation’s endowment spending policy. The donor may elect to create a named endowment fund as a special, lasting tribute to a loved one.
A minimum gift amount is required to establish a named fund. A single gift may be made outright or via a bequest. Multi-year pledges are also welcome; the fund will begin operating upon receipt of the final payment. Family members and friends may also pool their gifts to create a fund named for a loved one.