FAQ.
MEADOWS NEW FOUNDATION is a nonprofit social welfare corporation organized and operated as a nonprofit under the Georgia Nonprofit Corporation Code within the meaning of Section 501(c)(4) of the Internal Revenue Code of 1986. Its sole purpose is to dramatically improve the health and well-being of all people and communities of Toombs, Montgomery and Wheeler counties, GA.
MEADOWS NEW FOUNDATION was established to receive the proceeds from the sale of the assets of the nonprofit Meadows Health Alliance to HCA Healthcare in April 2021. The Foundation is not affiliated in any way with HCA. It is governed and operated by an independent Board of Directors.
MEADOWS NEW FOUNDATION is organized and operated exclusively for the promotion of social welfare within the meaning of Section 50l(c)(4) of the Internal Revenue Code of 1986, as amended (the “IRC”), or the corresponding provisions of any future federal tax code. MEADOWS NEW F0OUNDATION shall be operated to promote the common good and general welfare of the community and bringing about betterments and social improvements in the community through
programs, services and activities designed to ensure and improve access to healthcare for all individuals in the community,
to promote health and wellness in the community and
to provide health and safety education to the people of the community.
MEADOWS NEW FOUNDATION will not directly provide services or perform its own charitable programs.
No, MEADOWS NEW FOUNDATION it is not the former Meadows Healthcare Foundation, Inc. MEADOWS NEW FOUNDATION is a completely new organization and is separate and independent of the legacy foundation that was part of Meadows Health Alliance. There is no formal relationship. The legacy foundation has been dissolved
MEADOWS NEW FOUNDATION was organized as a social welfare organization and became fully operational on May 1st, 2021.
MEADOWS NEW FOUNDATION will make donations to other Section 501(c)(3) organizations that address factors impacting the health and well-being of Toombs, Montgomery and Wheeler counties residents. As a partner and collaborator across the region, MEADOWS NEW FOUNDATION will be engaged primarily in grantmaking as well as convening nonprofits and collaborating with local, state, and national experts who are also working to improve overall health and well-being across communities.
MEADOWS NEW FOUNDATION serves the people in the Toombs, Montgomery and Wheeler counties communities.
MEADOWS NEW FOUNDATION will make grants to other nonprofit organizations to address factors that impact people’s health and well-being across a wide range of areas including economic stability, education, social and community initiatives. This work has the potential to exponentially improve outcomes fostering sustainable solutions for generations to come.
The organization will be governed by a Board of Directors, a diverse group of community leaders who serve as volunteers, without compensation. Directors provide primary fiduciary oversight and seek to ensure a sustainable future through sound, ethical governance, and financial management.
The Foundation will retain a minimal staff to handle day-to-day operations of the Foundation.
The Board shall consist of a minimum of five and a maximum of nine Board members. Each director shall continue in office for a term of three (3) years, and, thereafter, until his or her successor shall have been elected and qualified or until his or her earlier death, resignation, retirement, disqualification, or removal. A director may serve no more than two (2) consecutive terms, and any term of less than three (3) years shall be disregarded in determining term limits. The Board of Directors shall be a self-perpetuating Board. Prior to the expiration of the term of any Director, the Board of Directors shall solicit from its own members nominations for one or more Directors to fill any vacancy occurring by reason of an expiration of term or otherwise by reason of death, disability, resignation, removal, or otherwise. Any director so nominated shall be a resident of Georgia, and preferably a resident of Toombs, Montgomery and Wheeler counties, GA shall be reasonably qualified to serve in furtherance of the charitable purposes and social welfare objectives of the Foundation.
MEADOWS NEW FOUNDATION expects to initially have approximately $30 million in assets, the proceeds of which can be invested in the community. There are contractual commitments in the HCA transaction that require the Foundation to maintain minimum net worth thresholds for six years. It is therefore unlikely the Foundation will make material grants for the first three years. Going forward the Foundation Board will review the net worth in the context of any remaining obligations and make decisions regarding an initial grantmaking commitment. The Board is committed to preserve the corpus of the Foundation, so program investment will be closely aligned to financial investment returns. The Foundation Board is committed to a conservative investment strategy.
The Foundation’s first cycle of material grants is expected to be completed in 2024.
MEADOWS NEW FOUNDATION will likely host “Listening Engagements” with nonprofit and community leaders throughout the county to learn about the strengths, challenges, and opportunities to improve health and well-being in the community. This will likely include a process that allows for public input.