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Anatomy of the 24/7 Endowment
| The St. Helena Hospital Foundation is dedicated to raising $24 million that is invested to generate a dependable income stream to ensure the continued excellence that has been St. Helena Hospital’s (SHH) hallmark for 127 years. The Endowment campaign was launched in November 2002 and now totals nearly $14 million in realized gifts and expectancies. |
How is the 24/7 Endowment structured?
The 24/7 Endowment is an umbrella term for several funds that are invested to generate a dependable income stream. Besides the General Endowment Fund, the income from which can be used for a variety of purposes, several funds have been established where the proceeds are designated for a specific purpose. Special purpose funds may be created where the initial gift is $50,000 or more. The present funds and their uses are:
· General Endowment
Purpose: Assist with specific capital projects, departmental operations or hospital-sponsored community programs—wherever it will do the most good. Also serves as a “rainy day” buffer that can cushion the effects of unforeseen costs—government-mandated but not funded changes, for example—as other financial strategies are put in place.
· Romilda Perry Gould Fund for Excellence in Patient Care
Purpose: Ensure that hospital’s Medical/Surgical department has the resources required to provide the best patient care for our entire community.
· The Johnson Medical Equipment Endowment Fund
Purpose: Fund the purchase or leasing of new technology and equipment.
· The Debra Miller Miracle Fund (for Emergency Medicine Education & Symposia)
Purpose: Fund symposia for medical practitioners from any locale on difficult-to-diagnose conditions encountered in emergency situations.
· The Cancer Research Fund
Purpose: Fund cancer research in connection with treatment at the hospital to give patients the widest array of treatment options possible.
· Reconstructive Surgery Fund
Purpose: Fund reconstructive education for physicians in developing countries, where the need far outstrips providers.
· Spiritual Services Fund
Purpose: Ensure that the spiritual needs of patients will be met as they express them, and met by the clergy they request.
· Phelps Foundation Fund for the Women’s Center of St. Helena Hospital
Purpose: Provide program and charity screening funds for The Women’s Center of St. Helena Hospital.
· Alexandra and Robert Phillips Cardiovascular Fund
Purpose: Keep cardiovascular specialists, staff and surgeons current in the latest diagnostic tools, treatment, education and equipment.
How is the 24/7 Endowment administered and invested?
· The St. Helena Hospital Foundation Board, which is composed of community members who have earned the respect of their peers, oversees the investment and distribution to the hospital of 24/7 Endowment funds.
· The Finance/Investment Committee of the Foundation Board monitors the performance of professional investment managers who adhere to the prudent investment guidelines established by the Foundation Board.
· A portion of the annual income is reinvested to ensure that the principle of the 24/7 Endowment will always be there.
Who determines how Endowment income is distributed?
· The Finance Committee recommends to the Foundation Board an amount for disbursement each year in accordance with its policy of reinvesting part of each year’s income.
· The Foundation Board and hospital together decide how the General Endowment income will be spent for capital improvements, operations, programs or any aspect of St. Helena Hospital’s programs and services. Income from specific purpose funds within the 24/7 Endowment is used as specified by the donor.
Will my gift stay in the community?
Funds that are clearly designated by donors as Endowment gifts—“permanent endowment”—can never be used for any other purpose without donor consent. Endowment gifts, like other gifts given to St. Helena Hospital or to the St. Helena Hospital Foundation, will not be used by Adventist Health or any of its other health care facilities, and community gifts will not diminish Adventist Health’s financial obligations to St. Helena Hospital. ·What acknowledgement and naming opportunities are provided for Endowment gifts?
It is important that the generosity and spirit of the visionary individuals and corporations who contribute to the 24/7 Endowment become part of the community’s collective memory. However, we respect the wishes of those who contribute should they wish to remain anonymous.Unless anonymity is requested, all gifts will be published in the Foundation News annual report to the community and will be included on the Donor Wall of the hospital lobby. Some individuals will be featured in 24/7 Magazine and in print advertising as appropriate.
The 24/7 Endowment is changing and saving lives today—and tomorrow.
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