Legacy Gift Provides for New Lecture Series
Inaugural Edward S. Schneir MD Lecture in Gastroenterology to be held September 16, 2009.
Nationally known in the field of gastroenterology and beloved by his patients, colleagues and friends, Dr. Edward S. Schneir was a Summa Health System icon. He dedicated more than 50 years to Summa Health System and Akron City Hospital, beginning in 1954 when he moved to the area to begin his internship. Even after his retirement in 1992, Dr. Schneir remained involved with Summa, returning in 1993 as Medical Director of Quality Improvement, a post he held until his death in 2007.
Dr. Schneir played an active role in the support of Summa through fundraising on the System's behalf and through his own personal philanthropy. With a very thoughtful gift in 1998, Dr. Schneir and his wife, Eileen, solidified their commitment to education and research by establishing with the Summa Foundation the "Dr. Edward and Eileen Schneir Endowment Fund for Internal Medicine & Research."
Now, with a portion of the income the endowment has generated, the inaugural "Edward S. Schneir MD Lecture in Gastroenterology" will be held at Summa on September 16, 2009.
Read entire article...
2009 Sapphire Ball Proceeds to Benefit Women's Health Center
Sponsorship Opportunities Still Available
The Women's Health Center at Summa Akron City Hospital is often the only place that uninsured or underinsured women can receive medical care. Sharon Faiello, director of the center for the past nine years, said the staff - including a medical director, 22 resident physicians, nurse practitioners and social workers - handles nearly 15,000 visits each year, with the most critical care in obstetrics, gynecology, family planning and birth control and STD treatment and screening. And with the current economic outlook, demands on the center are expected to increase.
While the staff is ready to meet those needs, the physical facility isn't. Lighting is inadequate. Flooring is worn. Chair coverings are ripped. Walls are drab. Cabinets are old. Check-in and check-out areas don't allow for patient privacy. Restrooms need updating. "We provide good care and we want the facility to reflect it," says Faiello. "We want to make the facility more comfortable for the patients. We want patients to feel respected."
Read entire article...
The Best Way to Give: From the Heart
Alice Galit draws on experience to make her gift to Summa
Giving is nothing new for Alice Galit of Uniontown, Ohio. She gives to charities she believes in and to causes her friends and family support. What is new is her relationship as a donor to the Summa Foundation, a relationship that took more than seven years to begin.
"I was always impressed and grateful with the care Jim received at Summa," says Alice, referring to her late husband who passed away in 2001.
Read entire article...
Legislative Postings
The Summa Foundation provides the following updates of local, state and federal legislation that may impact our donors:
Congress' Fiscal 2010 Budget Resolution was adopted on April 29, 2009, and includes much of President Obama's priorities as set forth in his budget blueprint released in February, 2009. Two items relate specifically to charitable giving:
• The Budget Resolution calls for a permanent extension of the estate tax at 2009 levels. If passed, the estate tax for 2010 will remain at its current level of $3,500,000 per individual and $7,000,000 per couple, instead of becoming zero.
• The IRA Charitable Rollover Act of 2009 has been an effective tool for many Summa donors. Distributions can be made from one's IRA directly to a charity without penalty. The recommended changes would be positive for both individual donors and charities. (Public Good IRA Rollover Act of 2009/H.R. 1250/S. 864 - House introduced bill on March 2, 2009; Senate April 22, 2009.) The proposed law would make Charitable IRA Rollover permanent, lift the $100,000 cap on rollover gifts, and allow planned gifts beginning at age 59 1/2 (currently age minimum is 70 1/2). Council of Foundations is asking the philanthropic community to urge members of Congress to support the bill. So far, House bill has 14 co-sponsors; Senate bill has 11 co-sponsors, including Sen. George Voinovich (R-OH).
The Summa Foundation seeks to steward gifts in the most ethical and cost-effective manner, providing funding to internal Summa Health System entities in support of clinical research, medical education and patient care. The following legislation could impact the Summa Foundation as well as other local foundations:
• Uniform Prudent Management of Institutional Funds Act (H.B. 522) - Governor Strickland signed Ohio's version of the Uniform Prudent Management of Institutional Funds Act on January 6, 2009. The law took effect June 1, 2009. The Act modifies the Uniform Management of Institutional Funds Act and basically offers institutions more flexibility in managing their endowments. The new law includes provisions that allow an institution to expend so much of its endowment funds as it deems "prudent" and provides a presumption of prudence for yearly expenditures of an amount not greater than 5% of a fund's value.
