Newman Regional Foundation formally dissolves, Emporia Community Foundation assumes assets Featured

Newman Regional Foundation formally dissolves, Emporia Community Foundation assumes assets Nweman Regional Health, Emporia Community Foundation logos

The Newman Regional Health Foundation is officially no more.


The hospital's Board of Trustees gave tentative approval to the dissolution in October as the hospital finalized an agreement with Emporia Community Foundation for the transfer of about $6 million in assets. The board gave its final approval at its December meeting, and the dissolution was finalized New Year's Eve.

Hospital CEO Bob Wright has said the move lets more funds to be used for donor-intended purposes as opposed to administrative costs. Community Foundation Board President Kay Lauer says the addition of the hospital foundation's assets will let the Community Foundation "play a more extensive role in the betterment of the region for all."

Both the hospital foundation and Emporia Community Foundation use UMB Bank, so the transition should be seamless, according to Lauer. Disbursements will be made by the Community Foundation as directed by hospital board designees.

This move does not affect Newman Regional Health's biggest fundraiser, Denim and Diamonds, which will be managed by the hospital's Business Development department.

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Last modified on Thursday, 02 January 2020 08:03