LEXINGTON ó The Lexington Memorial Foundation is the recipient of a $1 million gift from Wake Forest University Baptist Medical Center.
The presentation was made Dec. 11 by Terry Hales, vice president of finance for Wake Forest University Health Sciences, during the annual foundation holiday gathering at the City Club in Lexington.
Lexington Memorial and Wake Forest Baptist became formal partners Oct. 1.
In making the presentation, Hales said the contribution is for use by the foundation to support the hospital’s mission in a manner consistent with its tax-exempt, charitable purposes.
Since its inception in 1989, the Lexington Memorial Hospital Foundation has raised approximately $10 million, which has been used to fund such projects as the J. Zebulon and Winnifred Green Outpatient Center, the modernization of obstetrical and medical/surgical areas, construction of a new coronary care unit and the addition of MRI services.
In addition to the $1 million gift, Hales announced Wake Forest University Baptist Medical Center will, over the next five years, match every cash or cash equivalent contribution of $10,000. Wake Forest Baptist will also match each $10,000 or more received as the result of foundation-sponsored events and every pledge of $10,000 that is payable within a two-year period.
Matches on gifts, pledges and proceeds from foundation events will be made up to a maximum of $5 million.
Dennis Ayers, hospital president, and Ellen Welborn, foundation president, accepted the $1 million gift on behalf of the foundation.
In an expression of gratitude, Ayers said the $1 million gift and the intent to match future contributions of $10,000 demonstrates Wake Forest Baptist’s commitment to Lexington Memorial and Davidson County.
“Wake Forest Baptist shares our vision to expand and elevate the level of services provided by Lexington Memorial,” he said. “It is through actions such as those witnessed tonight that we will be able to provide more diverse services for patients with a higher level of acuity so that more of the community can get their medical care here at home in Lexington.”
Ayers added that all contributions made to the Lexington Memorial Foundation will stay in Lexington and be used strictly for the benefit of the hospital.
“In these tough economic times, contributions to our foundation are more needed and welcome than ever,” he said.
Welborn said Wake Forest Baptist’s willingness to match future contributions provides impetus for increased foundation support.
“The foundation and Lexington Memorial have greatly benefited from the generosity of this community,” she said. “This provides a tremendous incentive for increased community support as all contributions will go toward increasing the level of services provided by our local hospital,” she said.
The foundation board will decide what project or services the funds will benefit.
Under the partnership with Wake Forest Baptist, the Lexington Memorial Hospital Foundation will retain its local identity, authority and governance. It is comprised of 20 members from the Lexington/Davidson County area.