Our mission . . . To Support and Foster
the Health Care Initiatives of WCA Hospital
The WCA Foundation began its first operations in 1982 with assets of $180,278.43. Diligent fiscal restraint in management of our community’s gifts has seen their growth to over $13.3 million in restricted and unrestricted funds, while more than $8 million in grants have been given to the Hospital and Starflight in just the last 15 years. Today, the WCA Foundation also serves its donors with the ability to make gifts that will have immediate benefit to WCA Hospital for current needs. The Foundation’s $1 million support of the new Emergency Department was just the beginning of grants of this magnitude to support WCA Hospital’s health care initiatives.
It is the vision of the Board of Directors to meet the changing needs of WCA Hospital with even larger grants and greater flexibility. It is the earnings from unrestricted funds which have enabled the majority of the Foundation’s support of the Hospital over its 30-year history. The WCA Foundation is making a concerted effort to increase its unrestricted assets thereby positioning itself to become an even greater financial supporter of the Hospital – in perpetuity.
Donating to WCA Foundation is easy. Make your check payable to: WCA Foundation and mail it to: WCA Foundation, P.O. Box 840, Jamestown, New York 14702-0840. When donating to the WCA Foundation, you can choose to indicate the purpose of your tax-deductible gift.
Is the donation In Honor of or In Memory of someone? If so, provide the name and appropriate contact information and an acknowledgement will be sent to the honoree or designated family member to communicate your thoughtfulness. The gift amount will only appear on the gift receipt letter sent to you.
You also have the opportunity to direct the use of your donation. Do you wish to make it an endowment gift or do you wish to have it used for immediate needs? If you want a general grant to be made from it, an unrestricted gift would be your choice. Or do you want to enhance the Foundation’s grant making ability through a specific fund or in a specific area of need within WCA Hospital? Let the Foundation staff know what you are thinking or contact our Executive Director, Brigetta Overcash, 716-664-8600, for help in making the choice that is right for you.
Individuals, families or groups who wish to start a special fund may do so with the assistance of Executive Director Brigetta Overcash, 716-664-8600, or Director of Development Karl Sisson, 716-664-8423. They will guide you in choosing the kind of fund that will fulfill your philanthropic desires. Funds at WCA Foundation may be initiated with a smaller contribution, but must reach $5,000 before they have granting capacity.
Once the fund reaches $5,000, it will produce grants for the purpose the donor has chosen. The purpose of funds can be changed at any time with the mutual consent of the donor and the Foundation’s Board of Directors. The Foundation’s administration of all funds complies with all regulations set forth by the New York Prudent Management of Institutional Funds Act. As a tax-exempt organization, donations to WCA Foundation Inc. are tax-deductible according the laws of New York State.
There are basically two kinds of funds held at WCA Foundation - endowment funds and non-endowed or pass-through funds. Endowment funds are held in perpetuity – forever. The original gifts are prudently invested and 5.25% of the trailing twenty quarter average market value of each Long-Term Fund’s portfolio at year end is used for grants to WCA Hospital and operations of the WCA Foundation annually. Non-Endowed or Pass-Through funds are given by donors to be used for the more immediate needs - either general or specific - of WCA Hospital. They are fully expended for the use designated and not held for generational growth.
Endowment funds are further divided in purpose by their donors. They can be Restricted or Unrestricted (Undesignated) endowment funds as prescribed by the donor’s directions.
Individuals, families or groups can create an endowment fund for a very specific purpose. This is often referred to as a Restricted Fund, and examples of such have included pediatrics or cancer treatment provide by WCA Hospital.
The WCA Foundation recorded $13,367,779 in assets at year-end 2013. While the Foundation holds 22 Restricted Funds and only five Unrestricted Funds, the majority of the Foundation’s assets are unrestricted in grant giving capacity to WCA Hospital.
Unrestricted gifts enable the Board of Directors of WCA Foundation tremendous flexibility to meet the most pressing needs of WCA Hospital, whether through grants from unrestricted endowment funds or pass-through gifts. That said, all funds - specific in use or for general purposes – are helpful to WCA Foundation in fulfilling its mission: to support the health care initiatives of the Southern Tier’s most outstanding regional health care facility, WCA Hospital.
Support of WCA Hospital can annually take place through donations of time and resources. To assure the long-term wellness of our premiere regional facility, our development staff encourages donors who are able to join The 1885 Society. In doing so, individuals support WCA Hospital while committing to leaving planned estate gifts to in their wills or trusts, by the deeding of property, or the naming of WCA Foundation as a beneficiary in their retirement plans or insurance policies. The WCA Foundation’s staff can be of assistance with this process which will help assure having a regional hospital forever.
The WCA Foundation has been an outstanding partner of WCA Hospital for more than 30 years. With the generous contributions and legacy gifts of people like you, the Foundation has grown, been a good steward of those gifts and been able to support the health care initiatives of the Hospital.
Together we can do even more. Remember the WCA Foundation when you want to honor or remember a loved one, friend or health care provider. Think of us when you want to help assure the future of the finest hospital in the Chautauqua Region. With your contributions to our Undesignated Fund, or by creating and naming your own Endowment Fund, we can fulfill the capital needs of WCA Hospital — together.
Thank you for your support of WCA Foundation’s glorious past . . . and welcome aboard to our future!
To make a donation, including a Tribute Gift, please click below:
To learn more, or discuss options for supporting the WCA Foundation, feel free to contact:
Brigetta Overcash, Executive Director
(716) 664-8600, firstname.lastname@example.org
Karl Sisson, Director of Development
(716) 664-8423, email@example.com