Pisgah Health Foundation, tasked with improving public health, spent nearly $600,000 to renovate a Brevard bank building while its contributions to local nonprofits dwindled dramatically.
I hope that Pisgah Foundation responds loudly and broadly to this piece, because for an organization whose website touts "Gold Transparency 23" and "Candid", this foundation's finances, funding criteria, values, and strategic goals are as clear as mud. Surely Board members will be eager to clarify what is going on, and not rely on the "Communications Specialist" to enlighten the community.
Refuse to provide information about Dogwood's 2023 grants to Pisgah? Why? Being unable to say what the Center's monthly rent is because "other parties" are on the lease? Why? What "other parties"? Is that a secret also? What the hell are "health insiders" who will access "wellness services" and provide funding? Is Pisgah Foundation about to offer "wellness" concierage services? Shiela Jarvis' hopes that the Center will promote "social cohesion" seem far-fetched, given a $950/day week-end rental fee to the non-profits while cartering to the paying "health insiders." I guess we unwashed are "health outsiders".
Maybe this Board fell under the spell of a consultant speaking gobbly gook, like the hired hands bought in from HCA to convince our former hospital board that their only option was to sell themselves to HCA in an uncontested bid.
I also hope to learn the rationale behind who gets how much of the Foundation's revenue, and how the undistributed money is invested. A foundation only has to distribute 5% of its assets per year, which Pisgah Foundation has done. Their IRS Form 990 shows total 2022 assets of $14 million. Investment income was $146,000, just over 1% of assets. Is that a little low, when my money markets are paying close to 5%? Or do they have assets in the form of real estate or other investments?
I'm sure there is a reasonable explanation to all of this. I look forward to the Board's response and to correcting my misunderstandings.
How could the Board of Pisgah Foundation actually think this would be a good use of funds? So disappointing that they would believe this would contribute to a more healthy community. What a disgrace!
I hope that Pisgah Foundation responds loudly and broadly to this piece, because for an organization whose website touts "Gold Transparency 23" and "Candid", this foundation's finances, funding criteria, values, and strategic goals are as clear as mud. Surely Board members will be eager to clarify what is going on, and not rely on the "Communications Specialist" to enlighten the community.
Refuse to provide information about Dogwood's 2023 grants to Pisgah? Why? Being unable to say what the Center's monthly rent is because "other parties" are on the lease? Why? What "other parties"? Is that a secret also? What the hell are "health insiders" who will access "wellness services" and provide funding? Is Pisgah Foundation about to offer "wellness" concierage services? Shiela Jarvis' hopes that the Center will promote "social cohesion" seem far-fetched, given a $950/day week-end rental fee to the non-profits while cartering to the paying "health insiders." I guess we unwashed are "health outsiders".
Maybe this Board fell under the spell of a consultant speaking gobbly gook, like the hired hands bought in from HCA to convince our former hospital board that their only option was to sell themselves to HCA in an uncontested bid.
I also hope to learn the rationale behind who gets how much of the Foundation's revenue, and how the undistributed money is invested. A foundation only has to distribute 5% of its assets per year, which Pisgah Foundation has done. Their IRS Form 990 shows total 2022 assets of $14 million. Investment income was $146,000, just over 1% of assets. Is that a little low, when my money markets are paying close to 5%? Or do they have assets in the form of real estate or other investments?
I'm sure there is a reasonable explanation to all of this. I look forward to the Board's response and to correcting my misunderstandings.
How could the Board of Pisgah Foundation actually think this would be a good use of funds? So disappointing that they would believe this would contribute to a more healthy community. What a disgrace!
Upsetting to see money that could have served a greater purpose
Typical NGO con game.