Endowment to support health, wellness in Randolph County established at North Carolina Community Foundation

An endowment that will benefit the health and wellness of Randolph County residents has been established at the North Carolina Community Foundation.

The endowment was created with remaining funds from the Randolph Health Community Foundation. Randolph Health, a hospital located in Asheboro, filed for bankruptcy in 2020 and was purchased by American Healthcare Systems in 2021. The Randolph Health Community Foundation was dissolved after paying down $2.5 million in debts owed by the hospital.

The hospital foundation’s remaining $367,000 was placed in the new endowment at NCCF. It will be invested and grow over time, serving as a perpetual source of community grants for charitable organizations.

The endowment fund will be advised by the Community Foundation for Randolph County, the local affiliate of NCCF advised by Randolph community members. CFRC annually awards grants to community nonprofits and this new fund for health-related programs in and serving Randolph County will also provide grants annually, starting with $15,000 in 2024. Grants from the new fund nearly triples the impact of CFRC, which awarded $8,500 to community nonprofits this year.

Making a long-term philanthropic investment in support of Randolph County residents’ health and well-being was a key factor in establishing the endowment, said Jerry Moore, a pharmacist who served on the hospital foundation board and is also a member of the CFRC advisory board.

“There were a lot of questions surrounding the acquisition of Randolph Health and the fate of the foundation,” said Moore, who has helped transition the foundation’s fund to NCCF. “Establishing this endowment fund allows us to continue the legacy of the foundation in working to keep our community healthy and well.”         

Lisa Hayworth, CFRC advisory board president, said this new fund helps CFRC expand its role in supporting nonprofit organizations in Randolph County.

We are excited to be able to provide more funding to Randolph nonprofits supporting community health and wellness,” she said. “We know the need is there.”  

CFRC will open grant applications in April. Information about how to apply will be posted to nccommunityfoundation.org/Randolph in early 2024. Donations for this new endowment are also accepted at nccommunityfoundation.org/RandolphHealth.

About the North Carolina Community Foundation
The North Carolina Community Foundation brings together generous people and connects them to causes and organizations they care about, with a focus on inspiring lasting and meaningful philanthropy in the state’s rural communities.

With $400 million in assets, NCCF sustains over 1,200 endowments and partners with donors and a network of affiliates in 60 counties to strengthen our state. By stewarding and growing donors’ gifts, NCCF makes a powerful impact through a robust grants and scholarships program, awarding over $270 million since 1988.

For more information, visit nccommunityfoundation.org.

Media contact
Amy Dominello Braun, Chief Marketing & Communications Officer
North Carolina Community Foundation
abraun@nccommunityfoundation.org; 919-256-6922