Endowed Chair Welcome Brochure

WELCOME ENDOWED CHAIR

WELCOME

CONGRATULATIONS ON YOUR BAPTIST HEALTH ENDOWED CHAIR APPOINTMENT!

An endowed chair is one of the most prestigious awards that can be bestowed on a physician for his/her outstanding contributions to medical science. This high honor not only recognizes the significant accomplishments you have made in your field, but also awards a stable source of funding to help expand your work. As an endowed chair recipient, you have the great honor and responsibility of advancing Baptist Heath’s impact through your research and service.

Endowments are among the most meaningful and permanent forms of philanthropy, supporting opportunities that benefit Baptist Health and the South Florida community for generations to come. Endowed gifts are invested to accumulate wealth over time, providing a predictable source of revenue that makes it possible to sustain research, education and programs in perpetuity. At Baptist Health, endowments pave the way for cutting-edge research and innovative practices that will help transform the lives of patients and the well-being of our community, now and into the future.

An endowment is a true testament to our donors' faith in Baptist Health's work and those who lead it. We celebrate your appointment and look forward to sharing in your continued success.

PURPOSE

WHAT IS AN ENDOWMENT?

An endowment is a donor-established fund that provides a reliable and lasting source of income in support of a specific program, initiative or research study at Baptist Health.

Each endowment generates an annual payout based on the spending rate established by Baptist Health. The annual payout is the amount made available each year for spending, in accordance with the purpose of the endowed fund. This payout can be used to fund research and activities related to your scope of work, as outlined in the donor gift agreement and fund purpose.

A well-managed endowment provides long-term financial stability that allows Baptist Health to continue delivering on its promise of clinical and service excellence. Baptist Health Foundation takes seriously its responsibility to manage endowed funds in accordance with donor intent. The Foundation Baptist Health, while honoring the vision of our donors.

YOUR ROLE

RESPONSIBILITIES FOR ENDOWED CHAIRS

In accepting an endowment, Baptist Health and its endowed chair recipient take on a number of shared responsibilities. The organization commits to supporting the endowed chair by informing the recipient of the donor’s expressed intentions for the gift, and keeping the donor apprised of the accomplishments of the recipient and impact of the gift. Your most important responsibility as an endowed chair recipient is to strictly adhere to the donor’s intent for the endowed gift as outlined in the fund purpose.

Endowed chair holders are also expected to:

Follow all Baptist Health Foundation and Baptist Health South Florida policies and procedures

Adhere to all state and federal laws surrounding charitable gifts

Report regularly on the progress of your work to the Foundation

In addition, each endowed chair holder is expected to create a plan for how he or she intends to utilize the funds each year. The chair holder reviews the strategy with his/her entity leadership and appropriate Foundation representative to ensure the plans are aligned with Baptist Health’s strategic goals and direction.

Your Foundation representative is a great resource and a key partner available to assist you with any questions related to your endowed chair, including:

Identifying the fund balance available for use

Accessing available funds via the Foundation disbursement request process

Acceptable and non-acceptable use of endowment funding

Opportunities to engage/update the donor on the progress of your work

ANNUAL REPORTING

Baptist Health Foundation is committed to donor stewardship by showing appreciation for their giving, as well as transparency in our fund management. Every donor who has established or significantly supported an endowed fund receives an annual Endowment Report produced by the Foundation’s Donor Stewardship and Communications team. This report informs donors of how Baptist Health is using the financial returns from their endowed investment.

Each spring, the Foundation mails out the endowment reports to donors, covering details from the prior fiscal year (October 1 – September 30). In the case of new endowments, donors receive their first report about 12-18 months after the fund has been established, allowing the gift to be invested and generate a payout.

All Endowment Reports include the following content:

Message from the Foundation CEO

Financial Report with the following details, as of the end of the prior FY Fund balance

Any new contributions to the fund

Current market value

Any distributions/fund use

An Impact Summary that highlights your work over the past year, including any significant updates on your progress, accomplishments and relevant research, as well as a summary of how the endowed chair has benefited your work.

Each November, the Foundation office will reach out to you with detailed instructions for submitting the information necessary to draft the Impact Summary of this report.

This annual endowment report is an important opportunity to showcase your accomplishments and thank the donors who support the resources that make this work possible. By sharing how an endowment is helping you accomplish your work, you give donors confidence that their funds are truly making an impact and inspire them to continue supporting our mission.

DONOR STEWARDSHIP

As an endowed chair holder, you play an important role in helping the Foundation effectively steward donors of the endowed fund. In addition to formal reports, there are other ways to make meaningful connections with donors throughout the year, including:

Inviting donors to visit your lab or take part in a facility tour/meet your team

Being available to attend meetings or participate at events at the donor’s request

Keeping the donor informed via phone calls, meetings via Zoom or meetings over meals

Sending personal notes or emails when key research milestones are reached

Sharing any special media mentions, announcements, awards or journal publications

Before initiating any of these activities, please reach out to your Foundation representative, who is your trusted liaison with your donor. The development officer knows how your donor prefers to be engaged and can help facilitate these touchpoints. This is important to ensure the stewardship is appropriate and appreciated.

USING YOUR ENDOWED CHAIR TITLE

It is important that you use your endowed chair title consistently across all communications (letterhead, business cards, publications, directories, etc.).

EXAMPLE

Murugesan Manoharan, M.D.

Chief of Urologic Oncologic Surgery, Miami Cancer Institute

Abbhi Family Endowed Chair in Urologic Oncology

Baptist Health South Florida

Please note: If you relinquish your endowed chair in the future, you are entitled to refer to yourself by the chair name, appending dates of your incumbency.

BAPTIST HEALTH FOUNDATION CONTACTS

Annual Endowment Reports

Vanessa Mitat

Manager, Donor Stewardship & Communications

Direct: 786-467-5424 | Main: 786-467-5400

VanessaMit@BaptistHealth.net

FAQs

WHEN WILL THE ENDOWED CHAIR BE ANNOUNCED?

Baptist Health Foundation will issue a press release announcing the new Endowed Chair upon receiving the fully executed gift agreement from the donor(s). This gift agreement outlines the endowed fund purpose and donor intent for establishing the Chair

WHEN WILL THE ENDOWED CHAIR BE AWARDED?

Once the endowed chair reaches 75% of its funding goal, Baptist Health Foundation will host an Endowed Chair Ceremony to officially award and recognize your appointment as the current endowed chair holder

MY FUND WAS JUST CREATED. WHEN SHOULD I EXPECT TO RECEIVE FUNDING?

Following the successful completion of the investment process, the endowment’s investment income will be disbursed annually during the second quarter of the fiscal year.

WHAT CAN I USE THE ENDOWMENT FUNDING FOR?

The endowment payout supports and advances your work as outlined by the fund purpose. This may include relevant research, the purchase of new technology and equipment, and any staffing needs specific to your area of specialty.

MAY I ASK THE DONOR FOR A NEW GIFT?

Please coordinate any donor requests with your development contact.

FAQs

EXAMPLES OF ACCEPTABLE EXPENDITURES INCLUDE, BUT ARE NOT LIMITED TO:

Salary for support staff working exclusively on projects and research related to the gift/fund purpose

Travel for the Chair-holder related to the scope of work outlined in the gift/fund purpose

Purchase of equipment and software to support your work

Meetings

Printing of materials related to scholarly work

EXAMPLE OF UNACCEPTABLE EXPENDITURES INCLUDE, BUT ARE NOT LIMITED TO:

Expenses paid for chair-holder’s personal benefit

Travel for department purposes not solely related to the chair-holder’s scholarly work

Office celebrations

Lab equipment for use by others within the department

Staff salaries for general office workers

Salaries of departmental administrators not solely utilized by the recipient

Gifts and awards

Building maintenance

Lobbying expenses

Dues/memberships to social clubs

First-class travel

Please reach out to your Foundation representative for more information on spending guidelines.

Our mission is to inspire philanthropy and build extraordinary donor relationships in support of excellence, innovation, community wellness and global leadership in healthcare at Baptist Health South Florida, a not-for-profit organization supported by philanthropy and committed to our faith-based charitable mission of medical excellence.