CEO: Purpose of the Foundation
November 10, 2022
By Scott Thoreson, CCMH Chief Executive Officer
One of the unique characteristics of a non-profit community hospital, such as Carroll County Memorial Hospital (CCMH), is the ability to accept donations and those donations are then considered charitable contributions by the Internal Revenue Service. In 2013, CCMH started a charitable foundation, known as the Carroll County Memorial Hospital Foundation, and this entity was designed to manage charitable donations, with a separate tax identification number and a separate board of directors compared to the hospital. Current Foundation Board Members are: Jeff Adams (Chair), Jay Wilson, Cohlby Jones, Jim Houseworth, Clint Deitch, Pam Horine, Dr. Pamela Ralls, Cassie Brown, Jeanette Craig, Carolyn Lock, Chris Jacobs, Jamie Woodrich and Scott Thoreson.
The CCMH Foundation conducted a strategic planning session this summer and addressed the following actions. First, it was determined our Foundation Mission Statement was too lengthy and did not succinctly represent the main reasons for the existence of the Foundation. The updated Mission Statement now reads “Enhancing the health of our rural communities through partnerships, education and innovation.” Second, Foundation board members also desired to reemphasize the focus of Foundation events, grants and financial support. Scholarships for students interested in health care careers continues to be an important use of Foundation funds as this helps provide the future workforce for scarce professionals, including those that will hopefully serve CCMH in the future. Lastly, Foundation board members agreed that there is a need to promote estate planning and pursue the path of collectively working with other area non-profits and financial professionals to help educate area residents on the variety of ways charities and donors can benefit from philanthropy.
As 2022 comes to a close, there are a variety of actions that can be taken to reduce taxes on the next round of tax returns. Besides the traditional writing of checks to charities that occurs before December 31, 2022, consult with your tax professional on the possible use of Qualified Charitable Distributions (QCDs) from Individual Retirement Accounts. Donor Advised Funds are another popular method to assist in reducing taxable income and enabling donors to determine which charities they would like to support, along with the timing and amount of their charitable contributions.
As the Foundation concludes its year, it is raising money to expand The Hope Fund. The Hope Fund was established in 2019 to help patients in need by providing funds for medication, durable medical equipment, and medically necessary transportation. In an effort to provide “More Hope,” the Foundation is seeking funds to add additional services to help create healthy environments for patients through assistance with minor home repairs, home improvements and emergency basic necessities. If you are interested in making a donation or you would like to learn more about the campaign, you can visit www.givebutter.com/More Hope or text MORE HOPE to (202) 858-1233.
I hope this article has provided a bit more insight about the CCMH Foundation, what it stands for and how you can get involved and benefit from the tax deductibility of philanthropy, now and into the future. CCMH has a strong history of wise and determined leadership, and the Foundation is one vehicle that is available to assist in the continued prominence of a strong and vibrant medical center for Carroll County. If you have a certain topic you would like us to discuss, please reach out to us at firstname.lastname@example.org. I wish you good health!
More in this Series:
CEO: Health Insurance Portability and Accountability Act
CEO: Holiday Message (Published December 20, 2021)
CEO: Different Types of Hospital Ownership (Published February 1, 2022)
CEO: A Hospital is Still a Business (Published March 16, 2022)
CEO: Why Healthcare is Expensive (Published May 4, 2022)
CEO: National Hospital Week (Published May 11, 2022)
CEO: Social Determinants of Health (Published June 29, 2022)
CEO: Financial Assistance (Published July 20, 2022)
CEO: CCMH Providers (Published August 24, 2022)