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Community Hospital Anderson's gift boosted Foundation's endowment

In October of 1993, Community Hospital Anderson announced that it would transfer investment responsibility for one of the hospital's endowment funds to the Madison County Community Foundation. 

President and CEO of Community Hospital at that time, William W. Wissman, in 1993 called the arrangement a win-win situation for all concerned.  "From my involvement in the community, I have become aware of the many needs such as health, education, and economic development, " he said.  "With this innovative joint arrangement, Community Hospital will continue to receive the income generated by the investments to support various hospital programs, and the citizens of Madison County, through the Foundation, will benefit from significant additional funds to help meet our community needs now and into the future."

Because of the Lilly Endowment's initiative to create and endow community foundations throughout Indiana through a matching grant, Community Hospital's transfer of the investment responsibility on the $250,000 endowment has generated $125,000 in matching funds for the Foundation.

Foundation director Sally DeVoe noted that Community Hospital remains committed to providing exceptional care in its facilities as well as helping to meet other human service needs in Madison County.  Devoe said, "We at the Foundation are honored by the trust Community Hospital showed in our financial stewardship in our earliest stage of development.  After 20 years, we have grown the endowment to over $15 million and have returned ten million dollars to the community in the form of grants and scholarships."



 

 

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