Invest in the Future – Leave Your Legacy
While all gifts to Speare Memorial Hospital contribute to the high quality of care we provide, endowments are particularly meaningful as they offer a dependable, perpetual source of funding. The investment made in Speare with the creation of an endowment provides the type of support that makes a real difference in the lives of our patients and their families. Endowed gifts enable Speare to continue its mission to provide excellent healthcare to our community every day.
How Endowments Work
Endowed funds differ from others in that the total amount of the gift is invested. Each year, only a portion of the income earned is spent while the remainder is added to the principal for growth. In this respect, an endowment is a perpetual gift. Following is an example endowment gift.
- The wife of a former patient makes a $25,000 gift to establish a named endowed fund in memory of her husband.
- A gift agreement is drawn up between Speare and the donor to guarantee that her gift will be added to the investment fund and used solely for its stated purpose.
- A predetermined portion of the income earned is used to provide a steady stream of income per the gift agreement instructions. The fund’s principal remains intact.
- The remainder of the income earned is reinvested in the named fund’s principal as a hedge against inflation and to generate growth.
- The named fund continues to grow to ensure future support.
SUPPORT YOUR PASSION, HONOR SOMEONE YOU LOVE
One of the advantages of creating an endowment is the freedom to choose how your investment will support Speare Memorial Hospital. Endowments inherently bring about a profound impact because of their longevity. The perpetuity of your gift will help sustain Speare’s mission.
Endowments are an excellent way to permanently honor your family, a loved one or a provider who has cared for you and your family. Once you have created an endowment, your gift becomes part of Speare’s heritage and tradition. In fact, loved ones may also choose to support your fund because they know how special it is to you.
Please call the Development Office at 603-238-2211 if you have any questions.