The Central Northeast Health Foundation launched its Endowment in the winter of 2008 with a generous donation of $65,224.15 to create the Doris and Everett Fiander Endowed Fund.
An Endowment may seem complex, but it's really very simple...an endowment is a fund that a charitable organization sets up which is designed to provide an unending source of funds for its charitable purposes. In our case that means funding for our Health Foundation for the purchase of priority medical equipment and investment in the health programs and services of Central Health.
It is a permanent investment in which the principal or original investment remains intact to generate a continuous source of revenue. In other words, we only spend the earnings (ie. interest and dividends) and not the principal. Once the value of the endowment reaches a predetermined level, the charity begins to spend some or all of the interest earned on the original investment.
An endowment is a smart investment as it helps charities such as ours plan for uncertainty in the future by generating a steady source of income. A gift can be made by an individual, group or business at any point in time throughout the year. The donor simply designates the donation for the Endowment Fund.
As families and individuals begin planning their wills, we would like to suggest you consider a bequest restricted for our new Endowment. This thoughtful action will help to create a healthier future for those living throughout central Newfoundland. It can also create a permanent legacy of generosity in the name of the donor or person being honored. Like all other major donations, a donor has the right to restrict an endowment gift for the future benefit of a specific healthcare facility, department, program or service of the Central Regional Health Authority.
Our Executive Director would be pleased to work with you or with estate Executors, to ensure that an Endowed Fund is established which will create a lasting legacy and be pertinent for many years into the future. We will work with you, or your professional advisor, to ensure your Endowment agreement meets your goals as well as those of the Central Northeast Health Foundation. Email Executive Director