The Newman Regional Health and Newman Regional Health Foundation Board of Trustees have reached an agreement to dissolve the Newman Regional Health Foundation and transfer its assets to the Emporia Community Foundation, effective today.
“We are fortunate to have one of the larger and most respected community foundations in Kansas located right here in Emporia,” Newman Regional Health CEO Bob Wright said. “Using the Emporia Community Foundation to manage and distribute these funds reduces administrative and investment expenses. As a result, more funds are available to be used for the intended purpose of each donor.”
UMB Bank will continue to manage the investment of the funds and disbursements will be made by the ECF as directed by designees of the Newman Regional Health Board of Trustees, and of an advisory board comprised of former NRHF Board members.
“UMB Bank has had the privilege to serve both the NRHF and the ECF for many years,” UMB Bank Senior Vice President Chris Calmer said. “It is an honor to partner with these great organizations and to see the significant impact they have within their community. We are excited for the growth of the ECF and look forward to serving with them for many more years to come.”
“The ECF welcomes the NRHF and looks forward to serving those funds,” ECF President Kay Lauer said. “Since both foundations have used UMB Bank for investments, it will be a smooth transition of the funds. For 25 years, the role the ECF has played in the greater Emporia community has developed and the addition of the NRHF will allow the ECF to play a more extensive role in the betterment of the region for all.”
Newman Regional Health’s largest annual fundraiser, Denim & Diamonds, will remain managed by their own Business Development department and their Finance department will continue to identify and apply for various grant opportunities available to the hospital, as they have in the past.
“We are excited to collaborate with ECF and continue to meet the needs of our community hospital through support of medical equipment purchases, health care scholarships, uncompensated care and other hospital needs, as identified,” Newman Regional Health CFO Holly French said. “ECF is a strong partner in our community and will be a great support to Newman Regional Health.”
To learn more about the transfer, or how to make donations and/or bequests, contact the ECF.