Recent donors help St. Francis Memorial Hospital Foundation create endowment fund
Thursday, 10 October 2013 14:10
The St. Francis Memorial Hospital Foundation has created an endowment fund as a new option for donors.
The endowment is designed to only use the interest earned on the principle to support the hospital.
The foundation is putting in $100,000 to jump start the endowment courtesy of recent gifts to the foundation from the estates of Lester Toelle, Clifford and Mildred Ramsbacher and Lorraine Glissman.
“We were very blessed with recent donations,” said Ron Briggs, CEO of the hospital and foundation secretary. “We are very humbled when people think of us during our annual appeal and in their estates.”
Board member Jerome Steffen said the endowment is a good option for others who also want to help.
“We believe there are donors that want to support the hospital foundation with long-term giving in mind,” he said. “Our endowment is designed to sustain and protect the principal for long-term preservation of funds.”
However, there can be exceptions.
“If we do see a special opportunity we can use up to 5 percent of the principal in any given year,” said Dick Moodie, board member.
The endowment is not the only option for donors. All the previous options remain in place to help local healthcare remain accessible, modern, affordable and viable. Options include:
• General donations to the foundation
• Memorials to honor loved ones and friends
• Participation in the annual appeal for specific goals
• Endowment fund
“Our primary fundraising effort will continue to be our annual appeal,” said Larry Kampschneider, fund drive chairman. “We ask the hospital to identify their biggest needs and we discuss what makes the most sense for the foundation to support,” he said.
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