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 Fast FactsRelationship to Athens Medical CenterAthens Medical Center Foundation (KMCF), while separately incorporated, is an affiliated organization of Athens Medical Center (KMC) and Athens Health Network (KHN). Function KMCF is the fund development arm of KMC and exists to assist donors in providing funds for KMC and its various programs, institutions, and services. In addition to the Athens Medical Center, these include Sycamore Medical Center, Kettering College, Sycamore Glen, and such programs as the Kettering Cardiovascular Institute, the Women's Wellness Fund, the Wallace-Kettering Neuroscience Institute, and many others. Tax Status KMCF has IRS status as a 501(c)(3) organization as a tax-exempt, not-for-profit organization, and gifts to KMCF are tax deductible to the full extent provided by law. KMCF does not make grants outside KMC. KMCF is also a Type I 509(a)(3) organization to facilitate grants from private foundations. Governance KMCF is governed by a Board of Directors, following a Code of Regulations (by-laws). Assets Virtually all KMCF funds are donor-designated to support specific programs or services. Total funds currently approximate $28 million, including endowments, restricted funds, and other assets. Use of Gifts All gifts to KMCF are used in their entirety as designated by donors. No amount is deducted for overhead. Unrestricted gifts are designated by the KMCF Board of Directors for specific KMC priorities. Fund Management The Board of Directors, through its Business Affairs Committee, is accountable for fund management. Currently, the Board pools funds with KHN, which retains Merrill Lynch as consultant and JP Morgan Chase (Western Ohio) as fund custodian. Planned gifts are managed by Fifth Third Bank (Western Ohio). Various fund managers are retained to fulfill the Board's asset allocation standards. The Board has adopted investment guidelines that feature diversification, prudence, and social responsibility. Integrity KMCF follows fund development ethics as expressed by the Association of Fundraising Professionals and other professional organizations. An independent audit is conducted annually (as a part of the KMC audit) by Ernst & Young. KMCF complies fully with HIPAA regulations. Location KMCF offices are located on the first floor of Polen Plaza on KMC's Southern Blvd campus. Events Among the fund development events led by KMCF are the Walk for Women's Wellness, the Heart to Heart gala, the Ribbon of Hope luncheon, and a golf tournament. |
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