Hospital Conversion Foundations are Connected to Community Needs

December 20, 2024

Article written for the Estate Planning Council's annual Estate Planning Supplement by Palm Health Foundation Philanthropy Committee member Chioma Deere, Esq.

Hospital conversion foundations are unique and powerful forces in advancing community health. These charitable organizations are born when non-profit hospitals are sold and converted to for-profit entities. A foundation is then established from the proceeds of the sale or “conversion.”


Because of their history in healthcare, these organizations are deeply rooted in the community, and therefore in touch with our neighbors’ most pressing health needs. Though these foundations carry forward the charitable missions of the original hospitals, they are nimbly positioned to respond to the ever-changing health landscape and can connect donors to the health causes closest to their hearts.


Rooted in Community

Hospital conversion foundations are deeply embedded in the fabric of the communities they serve. Unlike national health organizations, these foundations focus on hyper-local health needs and can partner with residents, philanthropists, institutions, and fellow nonprofits to drive innovative solutions to the biggest health challenges that communities face.


This deep connection to the community is something I relate to as an attorney dedicated to serving our Palm Beach County neighbors. I work with families daily to ensure that they are protected in as many ways as possible. By partnering with Palm Health Foundation, a local hospital conversion foundation and Palm Beach County’s only community foundation for health, I’ve discovered a world of other ways that I can continue to help the community. I choose to partner with organizations like Palm Health Foundation because they are an extension of the work I, and professionals like me, do to help our neighbors.


To advance local health causes, we must recognize that our neighbors’ lived experiences shape their health outcomes. Just as I center listening to my clients and prioritizing their voice and experiences in shaping solutions to their problems, our philanthropic partners must center resident voices when seeking community health solutions.  Palm Health Foundation is a ready partner in this, prioritizing resident voices in their fundraising and grantmaking efforts. Though the foundation was born out of a healthcare system, people are the priority.



Poised to Advance Innovation
  Through community collaboration, Palm Health Foundation has invested more than $93 million in Palm Beach County health since 2001, focusing on building a culture of health, advancing brain health, and strengthening our local health professions. In addition to funding innovative health programming and initiatives, the foundation has awarded more than $4.6 million in scholarships, helping more than 1,000 graduates enter the healthcare workforce, addressing critical shortages and improving care in Palm Beach County.

 

Palm Health Foundation’s investment in scholarships echoes back to its hospital roots, but its unique position today allows the support of cutting-edge health innovation. In the foundation’s brain health advancement work, it convenes local brain science institutions, philanthropists, clinicians, artists, researchers, and residents to advance our understanding of the brain and develop new treatments for brain health conditions.


Palm Beach County is home to leading brain science and research institutions, attracting talent from around the world to study and develop new technologies and treatments right here in our backyard. This hospital conversion foundation bridges scientific study with community, poising Palm Beach County to become a national leader in brain health advancement.



Strategic Philanthropy

Your philanthropic interests don’t need to be in any one specific area to find meaningful partnership with your local hospital conversion foundation. These foundations can partner with you in advancing the health cause you – or your client - care about most. In the world of philanthropy, professional advisors, whether they are estate planners, financial planners, or legal professionals, play an essential role in helping clients make informed decisions about their charitable giving.


Whether your clients are interested in supporting immediate health needs or establishing a long-term legacy, health conversion foundations offer a range of giving options that allow donors to tailor their philanthropy and provide potential tax advantages. From tax-efficient donor-advised funds to planned giving strategies, these foundations work with advisors to create personalized plans that align with clients' financial and charitable goals, build a legacy, and make lasting impact.


Because of Palm Health Foundation’s deep roots in the community, their dedicated staff can act as an extension of any advisor or estate attorney working to protect and support Palm Beach County families and can help guide clients who are particularly interested in leaving a legacy for a thriving community. Palm Health Foundation offers a variety of avenues, including one-time donations, legacy planning, cryptocurrency contributions, and donor advised and endowed funds, to give meaningful support of our local health landscape. These opportunities allow donors to tailor their philanthropy to both immediate and long-term health improvements in our community.

 


Connected and Collaborative

Through strategic philanthropy, community collaboration, and a steadfast commitment to addressing local needs, hospital conversion foundations build healthier, more resilient communities. In Palm Beach County, the ongoing work of Palm Health Foundation is a testament to the enduring value of health conversion foundations.


Your support through thoughtful, strategic philanthropy has the power to make lasting, generational change. By partnering with foundations like Palm Health Foundation and leveraging the expertise of professional advisors, donors can create a legacy of health and well-being that will benefit Palm Beach County for generations to come.









Chioma Deere, Esq., a Florida attorney and member of the Philanthropy Committee at Palm Health Foundation, is passionate about helping individuals and families leave a legacy of health and wellbeing through strategic philanthropy. As the founder of The Deere Law Firm in West Palm Beach, she assists clients with estate planning, probate, and charitable giving. Deere-Law.com 

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