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Creating Meaningful Impact
The endowments at the Foundation are comprised of more than 349 funds. But it’s not about the dollars, it’s what those dollars do to sustain our work to care for our community. Over the years, growth of the endowments through philanthropic giving and investment return has enabled us to provide world-class care to our patients and families, acquire innovative technology, conduct vital research, launch new programs and initiatives, and support a wide range of needs across our system.
Adult Tertiary Hospitals
(Baptist Jacksonville, Baptist South) $39,387,876
Wolfson Children’s Hospital
$195,953,593
TOTAL $301.2M
Baptist MD Anderson Cancer Center $28,840,022
Community Hospitals
(Baptist Clay, Baptist Nassau, Baptist Beaches) $22,421,184
Systemwide (Spiritual Care,
Social Responsibility, Neurosciences and more). $14,625,831
Baptist Health Foundation Endowment Spending Policy
Effective June 30, 2017, the Baptist Health Foundation Board of Trustees has revised the Spending Policy for all endowment funds.
The spending policy makes available the greatest amount for annual distribution while preserving the future purchasing power of the account. The Baptist Health Foundation has determined the appropriate amount to be made available for distribution each year is up to 5% of the “average market value” of each endowed account. The “average market value” is defined as the average of the total market values of the account on the last day of June of the preceding three years. The advantage to this method is that averaging “smooths” out the fluctuations in market performance from year to
year and provides a more predictable source of revenue. All endowments must reach the $25,000* threshold before any spending distribution is made available. Funds are posted on October 1 of each year to the corresponding endowment’s operating account.
During the first three years after an endowed account is established, the amount available for distribution is the actual
net (after expenses) earned during the preceding year, up to a maximum of 5% of the endowed amount contributed. The Baptist Health Foundation may amend this Spending Policy at any time during the year should economic conditions dictate the necessity, otherwise it reviews the Spending Policy annually.
*Newly established endowments in the first or second year are eligible only if they reach the $25,000 threshold (subject to change).
Calculation of Endowment Value — 3-Year Rolling Average
A COPY OF THE OFFICIAL REGISTRATION AND FINANCIAL INFORMATION FOR BAPTIST HEALTH FOUNDATION INC. MAY BE OBTAINED FROM THE DIVISION OF CONSUMER SERVICES BY CALLING TOLL-FREE WITHIN FLORIDA (1-800-435-7352). REGISTRATION DOES NOT IMPLY ENDORSEMENT, APPROVAL, OR RECOMMENDATION BY THE STATE. SC-03625
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