Baptist Health Floyd to launch new foundation in 2023
The Floyd Memorial Foundation has been the hospital's fundraising arm since 1978.
(NEW ALBANY, INDIANA) NOV. 3, 2022 Baptist Health Floyd will launch a new fundraising Foundation beginning in early 2023 to concentrate on the needs of the hospital and its future growth.
“We believe that this foundation will better align with Baptist Health’s philosophy about the timing and use of donated funds, while allowing the independent Floyd Memorial Foundation greater freedom to utilize its endowment model to fund grants and other community needs,” said Patrick Falvey, chief operating officer for Baptist Health.
The Floyd Memorial Foundation has been the hospital’s fundraising arm since 1978. The new Baptist Health Floyd Foundation will concentrate on targeted capital campaigns and other fundraising initiatives that only support the needs of the hospital.
The Floyd Memorial Foundation remained independent after the hospital’s 2016 sale, continuing to support the hospital along with other community agencies.
While the new hospital foundation will be separate from Floyd Memorial Foundation, Falvey said he hopes both boards can work together for the betterment of the community.
“Baptist Health is not proposing for the new foundation to compete with the Floyd Memorial Foundation, but rather allow the Foundation to support broader community needs. The new foundation would focus solely on supporting the hospital, its patients and caregivers,” he said.
“We believe that all charitable fundraising, whether focused on targeted capital campaigns and initiatives and other patient care initiatives, or through endowments to fund grants over a period of time, is noble,” said Baptist Health Floyd President Mike Schroyer.
Several capital projects are in the works, including the renovation of the nursery to establish a Level II neonatal care unit. The $65 million construction project includes renovation of the surgery area, along with future growth planned as outlined in the hospital’s strategic plan. With these projects comes a need for more funding resources, Schroyer said.
“We believe there are potential donors who want to support a specific campaign,” he added. “We want to give people the opportunity to make those donations, and have those dollars used immediately for that specific campaign.”
Each local Baptist Health Foundation is built upon two primary principles – that philanthropy raised to support its hospitals creates immediate and meaningful impact; and that major gift fundraising efforts are locally managed, portfolio driven and permission-based relationships with grateful patients, families, and allies.