Empire Health Foundation Receives $40 Million From Providence Health and Services
Empire Health Foundation in Spokane, Washington, has received a $40 million contribution from Providence Health and Services, a not-for-profit Catholic healthcare system, more than doubling its endowment to $86 million and making it the largest philanthropic organization in eastern Washington, the Spokesman-Review reports.
The terms of the gift require the foundation — which was established five years ago when Deaconess Medical Center, a general medical and surgical hospital in Spokane, was sold to Community Health Systems — to relinquish three seats on the board of Inland Northwest Health Services, which operates an air ambulance service, a rehabilitation institute, and an electronic medical records business. Providence will become the sole controlling member of IHNS, which was created nearly twenty years ago by Providence Sacred Heart Medical Center and Deaconess.
The deal will give Empire Health more resources to support its public health and other projects in the region, including obesity prevention and childhood trauma services. CEO Antony Chiang told the Spokesman-Review he intends to conduct a community assessment in 2014 to determine how best to invest in projects that help residents of the region and measure the results of those projects. Chiang also noted that there are no restrictions on the use of the funds.
