Restricted Fund Disbursement Policy
A restricted fund is focused on a specific cause or non-profit organization depending on how the fund is set up. A restricted fund can be created with a minimum of $10,000. Contributions to the fund can be accepted at any time. The Bedford Community Health Foundation applies a 2% management fee to all funds over $10,000. That 2% fee is considered an industry standard.
Foundation policy allows disbursement of at least 5% of the funds available as of December 31 of any given year. The funds are then awarded the following calendar year provided there is a suitable grant request based on the criteria of the fund. The grant request must be submitted by an eligible non-profit, or in the case of a scholarship fund, by a qualified student. Additionally if funds are available, a need can be identified by the Foundation staff. The total amount of funds available for allocation is not always disbursed.
In the event that the original purpose of the restricted fund becomes impractical and can no longer be carried out, the Board may transfer the restricted fund to the Foundation’s Unrestricted Fund to be used for general program support.
The Foundation holds the following permanently restricted funds:
Adult Day Center
The Adult Day Care Fund (est. 1994) provides scholarships/financial assistance to qualified families who need adult services as well as funding for consumable supplies for the facility’s operation.
The Bedford Center on Aging Fund (est. 2000) provides funds to assist in the creation of a center adjacent to the existing facility that would house a variety of age-related services.
The Hardy Family Endowment Fund (est. 1999 by Ralph and Ivylyn Hardy) assists with the provision of hospice services to Bedford residents.
The Hospice House Initiative (est. 2000) was created to support the building of a hospice home in Bedford.
The Bedford Memorial Hospital Commemorative Fund (est. 1999 by the Henderson family) provides grants for new equipment and technology for the hospital as well as for Oakwood Manor, the hospital’s health and rehab facility.
The “Right Stuff” Nutrition Fund (est. 2000 by the Kurshan family) provides grants to conduct nutrition education in our schools as well as our senior community.
Emergency Medical Services
The Sam Moore Furniture EMS Fund (est.2002) provides financial support to emergency service providers in our area.
The Ruby Shields Memorial Fund (est.2009 by her family) provides grants to non-profits who provide health-related services for our less fortunate residents of the Town and County of Bedford.
The Michael W. Cross Fund (est. 2011 by friends of Michael Cross) provides for non-emergency medical transportation and health related services for needy residents of the Town and County of Bedford.
Teen Driving Safety
The BEDCO Cares Fund (est. 2007 by Tim Groover) funds teen driving safety programs including scholarships for driver’s education classes.
The Emma Allie Scholarship Fund (est. 1976 by Joe and Eileen Miller) provides assistance to an outstanding first-year Practical Nursing (PN) student enrolled in the practical nursing program at the Governor’s Health Academy in Bedford.
The Janet Bowyer Wood Scholarship (est. 1984) provides tuition assistance to nurses employed in the Town or County of Bedford who are pursuing continuing education.
The Maxwell Dudley Davidson Scholarship (est. 1991) provides tuition assistance to nursing students who have committed to work at Bedford Memorial Hospital or a pre-approved medical facility upon graduation.
The Dr. Eileen Jennings Fund (est. 1995) provides grants for lectures or symposiums focused on current issues in nursing.
The Connie Bohon Parker LPN Scholarship (est. 2000) provides assistance to an outstanding second year LPN student in the School of Practical Nursing offered through Bedford Science & Technology Center and Bedford Memorial Hospital.
Geri Montgomery Fund (est. 2008) was created in memory of an outstanding nurse who worked at Bedford Memorial Hospital. The fund must grow further before any monies can be awarded.
The David W. and Sandra L.R. Boyes Scholarship (est. 2009) provides financial assistance to practicing health care professionals who seek additional education in the area of gerontology and the special needs of seniors.