Creating a Named Endowment

Creating a Named Endowment

An endowment is a permanent fund of support for the purpose you specify. While the principal of your gift is invested and grows over time, distributions from the endowment are made annually based on the spending policy developed by the Board of Directors of the Hospice of East Texas Foundation. These distributions to Hospice of East Texas are designed to provide predictable revenue during volatile markets and to minimize the effects of inflation.

Endowment gifts held at the Hospice of East Texas Foundation are extremely valuable in enhancing the quality of Hospice of East Texas’ patient care. They are also especially important as support to programs that have no predictable funding source, such as educational outreach to the community, bereavement care and the volunteer and chaplaincy programs.

You can immediately establish an endowment through an outright gift using almost any type of asset – cash, securities, real estate or other property that can be liquidated. You may also make a pledge to the endowment to be paid over 3-5 years or fund the endowment through a bequest or other deferred gift. The minimum gift for a named endowment at the Hospice of East Texas Foundation is $25,000.

Creating an endowment allows you the benefit of naming the fund and gives the Hospice of East Texas Foundation an opportunity to recognize your generosity in perpetuity. You may express your regard for Hospice of East Texas or honor a relative, friend, or even a special medical provider.

If you are thinking about creating an endowment to support a specific purpose, we encourage you or your financial advisor to work with the development staff to ensure that your gift will accomplish your goals over time. We invite you to call 903-266-3402 or email Nancy Lamar, Vice President of Community Relations, at nlamar@hospiceofeasttexas.org.

Some Ideas for Named Endowments

Fund for Indigent Care
As a community non-profit, Hospice of East Texas has a long-standing commitment to provide our exceptional care to all who need it, regardless of their financial circumstances. An endowment fund for indigent care will allow Hospice to compensate for the more than $1 million in un-reimbursed care we provide to our patients each year.

Fund for Chaplaincy
Spiritual support is an important component of hospice care. An endowment for the Hospice of East Texas Chaplain Program will ensure that our chaplains can provide spiritual support and comfort to all our patients and their families throughout our twenty three county service area.

Bereavement Program Endowment 
Each year, the Hospice of East Texas Bereavement Program offers workshops, counseling and support groups to hundreds of families in East Texas, all free of charge and open to the public. A named endowment will help sustain this important, one-of-a-kind program.

Garden Endowment                         
The patios, walkways and gardens surrounding HomePlace are sanctuaries of quiet beauty and serenity. A permanent endowment will provide a source of stable funding to ensure their upkeep.

Educational Outreach Endowment
Hospice of East Texas is recognized throughout our region as the center of excellence in end-of-life care. Our physicians, nurses and clinical staff teach best practices to other professionals in a variety of healthcare settings, from hospitals to nursing homes. An educational outreach endowment would ensure that Hospice of East Texas continues to enhance the standard of end-of-life-care in East Texas through teaching and outreach.