Endowment
An endowment is an investment fund set up by an institution in which regular withdrawals of earnings from the invested capital are used for ongoing operations or other specified purposes. Endowment funds are often used by nonprofits, universities, hospitals and churches. They are funded by donations, which are tax deductible for donors.
The Bay Medical Foundation Endowment Fund was established in April 1991. Annual yield on the Endowment's untouchable principal assures income in perpetuity to McLaren Bay Region, an income that continues to grow as the Endowment prospers.
As a donor, you may choose to give a gift to be used immediately for a specific project. Or, you may place your legacy gift in the Foundation’s endowment fund with the principal professionally managed into perpetuity. This gifting option offers longevity, as the original contribution remains intact forever, and only a portion of annual earnings are used for equipment, projects or programs for the hospital.
Furthermore, endowed gifts still provide the freedom for you to choose how your gift will support McLaren Bay Region hospital by designating to a specific service area or program. It is an excellent way to leave a permanent legacy, while providing ongoing funding to the hospital forever.
With the escalating cost of healthcare your endowment improves the value
of our community by allowing for continued advancements in healthcare.