Fayette group transfers assets to Reid Health Foundation
When the former Fayette Regional Health System no longer existed, the Foundation that supported it faced a major decision - what should be done with the Foundation's assets?
who chaired the Fayette Regional Health System Foundation Board for 12 years,
said the Reid Health Foundation was the best fit. "The board wanted to do
everything possible to support the new, local healthcare initiative," McNally
journey began in the summer of 2019 when Reid Health purchased the majority of
the assets of the former Fayette system and announced plans to maintain as many
sustainable services in the community as possible. The process to dissolve the
Foundation and transfer assets of approximately $750,000 was completed this
and Melanie Caldwell, another longtime member of the Fayette Regional
Foundation, and several of their board members met with Reid Health Foundation
representatives in Summer 2019 to begin exploring options.
Foundation was willing to acknowledge Fayette's existing funds and will spend
those funds for their stated purpose in what was the Fayette Regional Health
System area," McNally said.
Reid Health Vice President/Foundation President, said his board appreciated the
fact that the Fayette group had other options in dissolving the organization,
yet chose to roll the assets to Reid Health Foundation with a goal of targeting
programs in Connersville with funds going forward. "We are humbled and
very grateful for their decision. We look forward to developing new
relationships in the Connersville area and continuing its legacy of healthcare
Caldwell were also invited and joined the Reid Health Foundation board. Plans
are being developed for a way to honor the Fayette Foundation's history with a
display in the Reid Health - Connersville facility at 1941 Virginia Ave.
announcement of the sale of Fayette Regional Health System assets, the
community was very grateful for Reid Health's investment and the decision to
continue offering healthcare in the community," McNally said.
like to thank everyone at Reid Health involved in the decision to continue
offering healthcare in our community. In addition, I would like to thank all
Fayette Regional Health System Foundation Board members and the Reid Foundation
team," McNally said. "On behalf of the Fayette Regional Health System
Foundation Board I would like to express how grateful we are for Reid Health's
presence in our community and we are committed to support Reid Health into the