Williamsburg Health Foundation: A Health Legacy Foundation
The Williamsburg Health Foundation (WHF) began in September 1996 when the Williamsburg Community Hospital (WCH) and Sentara Healthcare developed an affiliation agreement. According to industry publication Health Affairs (January 2014):
“Over the past three decades numerous nonprofit hospitals, health systems, health plans, and specialty care facilities have ventured into agreements… to sell, lease, merge, or otherwise reconfigure their corporate assets. Nonprofit health care conversions and other sale transactions have resulted in billions of dollars in new charitable wealth… [and are] collectively known as health legacy foundations.”
Upon the merger, 55 million dollars were designated for the Foundation. $19 million was Sentara’s Affiliation payment, and remaining $36 million was Williamsburg Community Hospital funds that existed prior to the affiliation. As of October 2017, the Williamsburg Health Foundation has distributed over 70 million dollars, and today, the corpus stands at approximately 120 million.
While the mission, vision, and strategic plan for the Foundation are regularly reviewed and updated by WHF Trustees, the Foundation’s purpose “to improve the health of those living in Greater Williamsburg in collaboration with community partners” remains unchanged.