Licking Memorial Health Systems

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About LMHS > Licking Memorial Health Foundation > FAQs

FAQs

Why should I give to Licking Memorial Health Foundation?
Community hospitals that are not financially strong are rapidly becoming a part of larger hospital systems. The Licking Memorial Hospital Board of Directors is committed to keeping Licking Memorial Hospital local and independent.

Do most corporations and foundations give money to hospitals?
Surprisingly, over 80 percent of all donations to charities and non-profit organizations in the United States come from individuals. In 2022, this segment gave over $300 billion, representing 64 percent of total giving.

How will the money I contribute be used?
All donations are used solely for the capital expansion, renovations and equipment needs for Licking Memorial Hospital. No contributor’s money is used to pay for operating expenses, salaries and other expenditures.

May I restrict my gift?
Yes. You may designate your gift for a specific department, service, facility or piece of equipment. However, unrestricted gifts allow the money to be used where the need is the greatest.

May I donate something other than cash?
Yes. Donations may be made in many forms. For a variety of reasons (best determined by you and your financial advisor), you may wish to give securities, real estate, life insurance or other possessions. In-kind gifts also are appreciated.

Is my donation tax deductible?
Yes. Licking Memorial Hospital and Licking Memorial Health Foundation are 501 (c)(3) not-for-profit corporations under the Internal Revenue Service guidelines. As such, a portion of most donations is deductible from federal income taxes to the full extent provided by law.

Why is the Hospital called “not-for-profit?” Doesn’t the Hospital make any money?
From the outside, a “not-for-profit” and a “for-profit” hospital may appear to be similar since both provide healthcare services and have the same types of operating expenses. Yet, there is a significant difference between the two. A “not-for-profit” institution reinvests revenue over expenses back into the hospital for the ultimate benefit of the community. In comparison, a “for-profit” institution distributes earnings to shareholders. Because Licking Memorial Hospital and Licking Memorial Health Foundation are not-for-profit corporations with no shareholders, earnings are used to fund equipment, facilities and services that are required to maintain an up-to-date facility which meets the needs of the community we serve.

How will my gift be recognized?
All gifts are promptly acknowledged. Commitments of $10,000 or more also are recognized on the Donor Wall in the Licking Memorial Hospital lobby.

If you have additional questions or for more information about Licking Memorial Hospital Development Council, please call (220) 564-4102.