NRMC Foundation Invests in The Future
NRMC Foundation board members hold a check representing the transfer of funds to the NRMC Endowment Fund. (L to R) Lindsay Jackson, Vanessa Leisure, Dana Ellis, Jeremy Fast, Joe Hardin, Kristen Schroer, Seth Barrett, Candice Moore, and Aimee Meyer.
After months of discussions and planning, the board of directors of the Nevada Regional Medical Center (NRMC) Foundation recently set aside $100,000 to be placed in the newly formed NRMC Endowment Fund. The decision came after a recommendation by the grassroots organization, Citizens United to Strengthen Our Hospital (CUSOH), led by Dr. Warren Lovinger, Jr. The NRMC Endowment Fund will create a perpetual source of investment income in future years.
“Individuals with the ability to give large donations are much more willing to give to endowments because they know their money will become a legacy to continue helping something they believe in, even after they’re gone” Dr. Lovinger said during a presentation to the NRMC Foundation board members.
Since incorporation in 1994, the Foundation has received more than $1.7 million in private gift support for support of the programs and services of NRMC. Through the years, the Foundation has used these funds to provide free health screenings to the public, for the purchase of all-wheel drive vehicles for rural home visits, and numerous pieces of medical equipment.
“The board’s goal is to always be good stewards of the donations we receive,” Seth Barrett, NRMC Foundation chairperson said. “So, while much of the donations go back into giving patients quality healthcare through NRMC, we have also always held to the policy of leaving $250,000 in cash and investments to protect the Foundation for the long-term. The endowment is an even better way to accomplish this goal, because it will begin to work for us in the near future.”
The NRMC Endowment Fund investment policy stipulates that the fund must reach $500,000 before any interest earned may be used for Foundation projects. Until that threshold is reached, all income earned will be added back into the endowment.
“Once the fund reaches $500,000, it should generate enough income each year to use to supplement the programs and services of NRMC,” Barrett said.
The Foundation board plans to reach this goal within the next five to ten years through an ongoing Endowment fundraising campaign. Recent additions to the Endowment fund also include donations from the 2019 Foundation Caring with Pride Golf Classic of $13,000, from the 2019 Designer Purse Bingo of $5,500 and from the Lovinger Family Foundation of $2,000.
About Nevada Regional Medical Center
Serving a six-county area since 1937, Nevada Regional Medical Center is a 71-bed acute, intensive and skilled care hospital. Nevada Regional Medical Center has earned recognition as a respected regional medical center for its comprehensive health care services, skilled and caring employees and state-of-the-art medical technology. Staff represent more than a dozen medical specialties, including family practice, women’s services, neurology, urology, psychiatry, orthopedics, wound care services, and general, vascular, thoracic and oncological surgery. Additionally, consultation clinics are held regularly by specialists in oncology, pulmonology, podiatry, ear, nose, and throat and cardiology. To learn more, visitor nrmchealth.com.