Dosher Memorial Hospital Foundation Endowments
Ensuring Excellence in Care at Dosher Memorial Hospital
Do you want your gift to keep on giving for the benefit of your family, friends, and community? An endowment is a way to leave a lasting legacy of caring. Endowments at Dosher Memorial Hospital Foundation help ensure the very best in healthcare for patients in our service area in the years ahead. You can establish an endowment fund whereby the capital is invested and the income from your investment is used to support an area of health care that is important to you. Funds can be endowed for a specific program or department and can be named in your honor or a family member or friend.
What is an Endowment?
An endowment is an investment fund set aside for the long-term support of Dosher Memorial Hospital Foundation. An endowment provides financial support to the hospital in perpetuity. Contributions to Dosher Memorial Hospital Foundation endowments are responsibly invested and managed, and the income is distributed annually as unrestricted funding or to support a specific program. The principal is protected and only the income, or a portion of the income, is expended. The uses of the income are controlled either by the donor’s wishes or, with the donor’s consent, at the discretion of Dosher Memorial Hospital Foundation’s investment committee.
Types of Endowment Funds
Permanent (True) Endowment Funds are funds received by the Foundation from gifts, grants and bequests, whereas the donor has stipulated that the principle of the fund is to be maintained, and invested in perpetuity for the purpose of producing income to be applied to uses as specified in the endowment agreement. A donor may request an endowment fund be named, and that the fund may or may not be restricted. $100,000 is the minimum gift required to establish a permanent endowment fund and may be payable within five years. An exception to the pledge period may be made with Foundation Board approval. Should an endowment not be fully funded in the agreed-upon schedule the fund will be closed and the collected assets merged with a similar purpose endowment fund or within, the General Endowment Fund.
Board (quasi), Designated Endowment Funds, are funds which the Foundation Board, rather than the donor, has determined are to be retained and invested. The principle is preserved while expenditure to support the purpose may be made from the endowment earned income.
Term Endowment Funds are similar to permanent endowment funds, except after the expiration of a stated period of time or an occurrence of a special event all or part of the principle may be expended, depending on the donors wishes as stated in the endowment agreement.
Sources of Endowment Funds
The primary source of funds for endowments will be outright gifts of cash, securities, and real estate, grants, and bequest by Will or Trust, given to the Foundation and designated by the donor for endowment. Additionally, the Foundation Board may allocate at will, annually, a portion of unrestricted gifts to be deposited in the Foundation’s General Endowment Fund.
How to Make an Endowment Gift
You also have the opportunity to create an endowment that bears your name or the name of a loved one. The minimum amount required to establish an endowment fund through Dosher Memorial Hospital Foundation is $100,000. After the endowment has been established, additional gifts can be added to the endowment at any time, either during your lifetime or through your Estate. Income from an Endowment can be designated according to your wishes. The Endowment may be merged with any of the investment assets of Dosher Memorial Hospital Foundation, but it shall be entered in the Foundation’s books and records in the name of the donor. The income from the endowment shall be used as directed by the donor or at the discretion of the Foundation’s investment committee. To make a contribution or to learn more, contact the Foundation at (910) 457-3936 or email foundation@dosher.org.
Benefits to Donors
In addition to knowing that your gift will help future generations receive excellent care, you benefit in several ways when you contribute to an endowment:
●As with any charitable gift, tax benefits may be available.
●Donors who establish a named endowment become members of Dosher Memorial Hospital Foundations’ Lifetime Giving “Champions”.
●Donors of $1,000 or more are recognized in the Foundation's “Captain’s Table”.
●Strategic Impact – creating an endowment fund will ensure a perpetual income stream to support those issues you care most about well into the future.
●Can be established in your lifetime and added to at any time – you can start to see the benefit of your gift immediately and know that support will continue in perpetuity.
If you would like assistance regarding creating an Endowment, or would like additional information, please contact:
Dosher Memorial Hospital Foundation
Email: antonettemcandrews@dosher.org
Phone: (910) 457-3936