Springdale, AR - In a role reversal from giving out $991,025.00 for 37 different grants, the Northwest Arkansas Community Foundation accepted a check for $160,000 in a formal check presentation on February 16, 2001 from the former Northwest Medical Center of Washington County Foundation Board of Directors. The former Center Foundation established a donor-advised fund within the Community Foundation on December 16, 2000 and will be known as the Springdale Memorial Hospital/Northwest Medical Center of Washington County Fund.
"As a member of this particular foundation board, it was important to honor our roots by including the original name and purpose which was the establishment of the Springdale Memorial Hospital back in 1954. Our board feels very comfortable with the decision to become a donor-advised fund. It gives us the flexibility to focus on the needs of the community through grant-making and yet continue to add to our fund," explained Hugh Means, President and CEO of the Community Foundation Board and its supporting organization, CommunityCare Foundation.
Gene Groseclos agreed with Means's comments.
"The original foundation was originally established to formalize the receipt of gifts for the hospital. It became a wonderful public relations tool to help make the Springdale Memorial Hospital, later Northwest Medical Center of Washington County, become the focal point of healthcare concerns in that community. The Community Foundation is honored to add this donor-advised fund because it will continue to help and promote those same interests," explained Groseclos.
The Springdale Memorial Hospital/Northwest Medical Center of Washington County Fund will be a separate grant-making fund within the Community Foundation that gives those establishing the fund a say in how and when grants will be made. In turn, the Fund is freed from investment management, tax and legal filings, accounting and other administrative duties.
Others serving on the Fund are William Walker, Chair; Dewey Johnson, Vice-Chair; Rick Parsons, Hugh Means, and Charles C. Farmer, all of Springdale.
