Woodlawn Foundation is pleased to share with you these questions that have been asked of us regarding our organization and Woodlawn Hospital. It is our hope that these answers will give you a better understanding of the operations of our area's Hospital.
What is Woodlawn Foundation?
Woodlawn Foundation, Inc. is an IRS-designated 501(c)(3) not-for-profit corporation under Indiana corporate law. It is organized to support and benefit the mission of Woodlawn Hospital. Woodlawn Foundation assists the Hospital with the additional funds necessary for capital improvements, hospital renovations, new equipment, educational programs, and ongoing wellness and community service programs.
Does Woodlawn Hospital receive any taxpayers' money?
No. Woodlawn Hospital is a county-owned facility; however, it receives no county tax money for its day-to-day operations.
Since the Hospital is county owned and operated and considered a non-profit organization, why does it try to make a profit?
Just like any other business, Woodlawn Hospital needs to make a profit to have funds for delivery of healthcare services to our area and purchase state-of-the-art technology. All profits are reinvested into the Hospital to sustain high quality healthcare delivery.
Can the Hospital use its own profits and does the Hospital control the profits?
The Woodlawn Hospital Administration recommends how the profits could be used such as to replace equipment, purchase new technology, or upgrade facilities. The profits are managed by the Woodlawn Hospital Board of Trustees. They have the ultimate authority in determining how the money is used.
Why is Woodlawn Foundation raising money for a hospital that is trying to make a profit?
The donors who appreciate the patient care or treatment they or loved ones received at Woodlawn Hospital make the gifts. Woodlawn Foundation is the vehicle to encourage those gifts, and manage them.
Can the County come in and take or control any of the funds that Woodlawn Foundation raises or has in savings or investments?
No. Woodlawn Foundation is a separate, independent 501(c)(3) organization and thus the County has no authority or control over the Foundation's money.
Are gifts tax-deductible?
Yes. Woodlawn Foundation, Inc. is incorporated as a non-profit 501(c)(3) organization. The State of Indiana and the federal government encourage voluntary support of these organizations through liberal deduction allowance. All gifts to the Foundation are tax-deductible within the regulations of state and federal laws.
Are gifts other than cash accepted?
Yes. Woodlawn Foundation will accept gifts of stocks, bonds, insurance policies, real estate, personal property, crops, grain, livestock, works of art, or any item that can be converted into cash. MasterCard and Visa card payments are also accepted. In light of changes in tax laws, donors are advised to consult their tax advisors in order to achieve the maximum tax benefit for their gifts.
To whom do I make my check payable?
Please make your check payable to Woodlawn Foundation.
|1400 East Ninth Street | Rochester, Indiana 46975 | (574) 224-1179|