Foundation to be established by FFH
Steps are being taken by Franklin Foundation Hospital to establish a philanthropic foundation.
Hospital Chief Executive Officer Parker Templeton told Hospital Service District 1 commissioners Thursday that he has initiated talks with the Community Foundation of Acadiana on the possibility of establishing a FFH fund with that organization.
“This would allow us the opportunity to accept various gifts, stocks, outright gifts, planned gifts like wills, and we can create an unlimited number of funds,” such as unrestricted, established or endowment funds, he said.
He added that he is working with CFA on preparation of a package to present to the board for approval next month.
“The way I envision this kicking off is with the creation of an advisory board,” made up of two or three hospital board commissioners along with community members, he said. The board would manage the funds.
Templeton said he would like to tie in the foundation kick off with the hospital’s celebration of its fifth year in its new facility, possibly with a black tie gala.
In other discussions:
—The board heard from Chief Financial Officer Ron Bailey that net income in the month of May was $65,086 as compared to a budget projection of $112,363. Net income year-to-date is $433,098. Gross patient revenue was just over $3.6 million which was 11 percent ahead of budget; net revenue was $1.8 million; and operating expenses were $1.97 million. Tax revenue and non-operating income totaling just over $217,000 resulted in the surplus.
—The board adjusted the annual millage rates to 3.35 mills on the maintenance tax approved by voters in 2003 and 9.93 mills approved by voters in 2009. Bailey noted that the mills are slightly less than last year due to a higher reassessment value.