A Named Fund is a wonderful way to honor or memorialize a loved one, or recognize your family. A fund can provide support for patient needs, equipment, professional education, or a program at Iredell Health System. For more information contact the Foundation at 704.878.4547 or Foundation@iredellhealth.org.
The Iredell Health Foundation currently offers two types of funds.
Restricted funds are monies set aside for a particular healthcare purpose as a result of designated giving. They are permanently restricted to that purpose and cannot be used for other expenses. Restricted Fund can be spent down. Restricted fund can be opened with a minimum donation of $1,000.
An endowment is a gift arrangement that provides long-term support for Iredell Health System. This is because gifts to endowments are invested (corpus) in perpetuity and only a portion of the earnings are made available for spending. Endowment fund can be opened with a minimum donation of $10,000.
Here are three easy steps to set up a fund:
You can create your fund now, establish it in your will, or create it through a trust arrangement that benefits your family, as well as Iredell Health System. Tax deductions are earned at the time of your gift.
Almost any kind of asset can be used to start your fund, such as cash, publicly traded securities, closely held stock, real estate, life insurance, and tangible personal property. We can also discuss other options with you, such as bequests, charitable remainder unitrusts, charitable remainder annuity trusts, charitable lead trusts, pooled income funds, charitable gift annuities, and life income and deferred charitable gift annuities.
Most of our funds are named after the donor or the donor's family or as a memorial to someone special. Every grant from the fund will carry this name helping carry on your legacy of giving back. Donors should also state the purpose of the fund so Iredell Health Foundation can ensure funds are used responsibly.
Iredell Health Foundation is responsible for ensuring that your fund is used for the purpose it was created. The Foundation identifies an individual responsible for the area (Iredell Health System Employee) your fund supports (radiation therapy center, scholarships, etc.). The Foundation works with the individual to ensure donated funds are used responsibly.
- #001 The Philip S. Crews, Sr. and Frances D. Crews Fund
- #002 Innovation for Nursing Excellence Institute
- #003 Mammography Fund
- #004 Grateful Patients Annual Fund