Kettering Health Network (ketteringhealth.org)
Kettering Health Network Logo
Kettering Health Network Logo
Follow FaceBook Follow YouTube Follow Twitter Follow LinkedIn Share

A- A A+ Text Size

eNews Registration
Please leave this field empty

Fast Facts

Fund Management

The Board of Directors, through its Business Affairs Committee, is accountable for fund management. Currently the Board pools funds with Kettering Health Network, which retains Merrill Lynch as consultant and JP Morgan Chase (Western Ohio) as fund custodian. Planned gifts are managed by Fifth Third Bank (Western Ohio). Various fund managers are retained to fulfill the Board's asset allocation standards. The Board has adopted investment guidelines that feature diversification, prudence, and social responsibility.

Governance

Kettering Medical Center Foundation is governed by a Board of Directors, following a Code of Regulations (by-laws).

Integrity

Kettering Medical Center Foundation follows fund development ethics as expressed by the Association of Fundraising Professionals and other professional organizations. An independent audit is conducted annually (as a part of the Kettering Medical Center audit) by Ernst & Young. Kettering Medical Center Foundation complies fully with HIPAA regulations.

Relationship to Kettering Medical Center

Kettering Medical Center Foundation, while separately incorporated, is an affiliated organization of Kettering Medical Center and Kettering Health Network.

Tax Status

Kettering Medical Center Foundation has IRS status as a 501(c)(3) organization as a tax-exempt, not-for-profit organization, and gifts to Kettering Medical Center Foundation are tax deductible to the full extent provided by law. Kettering Medical Center Foundation does not make grants outside Kettering Medical Center. Kettering Medical Center Foundation is also a Type I 509(a)(3) organization to facilitate grants from private foundations.

Use of Gifts

All gifts to Kettering Medical Center Foundation are used in their entirety as designated by donors. No amount is deducted for overhead. Unrestricted gifts are designated by the Kettering Medical Center Foundation Board of Directors for specific Kettering Medical Center priorities.