A named endowed fund can be set up with a minimum of $50,000 to honor or memorialize a loved one. The assets are held and invested by the Franklin Memorial Hospital as part of its pooled endowment. Only the income earned by the fund is used each year to support the programs chosen by the donor. The principal of the fund remains invested to generate a predictable source of usable funds for years to come. Donors receive a tax deduction at the time a fund is established and when they make additional contributions to it. Their names appear on plaques and in reports, according to their wishes.
If you or someone in your family is considering establishing a named fund, we encourage you to make your intention known to the Fund Development Office so that we can work with you on the details.