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Chances are, you’ve probably heard of hospital foundations, like Hardin Memorial Hospital Foundation. But like most people, you may have no idea what they are, or why they’re so necessary. For a non-profit hospital like Hardin Memorial, they are critical.

Simply put, a hospital foundation raises money and community awareness for a hospital and their services offered in the community, like Hardin Memorial Hospital. The same way a concrete foundation physically holds up a house, hospital foundations support the mission of not-for-profit hospitals.
A foundation may share some board members with a hospital, but it’s a separate organization with a separate focus. The Hardin Memorial Hospital Foundation is incorporated under the laws of the state of Kentucky and has its own ruling from the Internal Revenue Service as a non-profit charity.
The focus of the Hardin Memorial Hospital Foundation is to provide resources for equipment, programs and services that otherwise would not be possible. Its mission statement is: Hardin Memorial Hospital Foundation primary purpose is to support, enhance and expand the activities of Hardin Memorial Hospital and improve the health and well being of the people it serves.
Through fund-raising efforts and community education, hospital foundations help keep health care providers and their communities in touch with each others needs.
Why are they important?
Now hospitals often receive less reimbursement from insurance companies and the government than what it costs to provide the service. This reduction in payment costs hospitals billions of dollars every year. At the same time, the costs of labor, medications and technology are increasing. Hospital employees’ salaries and benefits continue to rise. And then there are the approximately 44 million uninsured Americans who need health care whether they can pay or not.
According to the American Hospital Association, nearly one-third of U.S. hospitals lose money every year. These strains have made foundations and fund raising more important than ever to hospitals’ survival.
Money well spent
Hospital foundations raise money in several different ways, including:

  • Annual campaigns—yearly mailings to former patients and community members. The mailing may include an update on the hospital’s activities and growth, but always includes an appeal for a gift.
  • Capital campaigns—one-time efforts over limited periods of time to raise funds for specific projects, such as a new facility, new equipment or a new service.
  • Planned giving—when a person leaves part of his or her estate for the hospital foundation in a will, or establishes a charitable gift annuity or trust.
  • Endowments—investments set up by the foundation for the hospital. The money for the investment comes from contributions. The returns go to the hospital, but the original money isn’t touched. This provides a stable, long-term income source for the hospital.
  • Special events, such as black-tie dinners, golf tournaments and galas.
  • Major gifts, large one-time donations from individual donors.
Where does the money go?
Contributions may help with building or maintaining facilities, buying new equipment or making up losses from operating costs.
A Reason To Give
People give for a number of reasons, more often than not; they believe that they are contributing to better health care in their community. Better hospital funding means more and better services. In the long run any contribution to a hospital’s foundation is an investment in your and your community’s health. To contribute to the Hardin Memorial Hospital Foundation, call (270) 706-5535 or mail your donation to Tracee Troutt, Hardin Memorial Hospital, 913 N. Dixie Ave, Elizabethtown, KY 42701.
Hardin Memorial Hospital. 913 N. Dixie Ave. Elizabethtown KY 42701.
Phone (270) 737-1212
Contact HMH