For someone they’ve never met…
Ron and Ruth Baker’s endowment gifts serve patients of the future
Tomorrow’s patients owe their care, in good part, to those who give today. And if they could somehow stand face-to-face with their benefactors, they would meet Ron and Ruth Baker.
For the past 15 years the Bakers have made significant gifts to HonorHealth Foundation that specifically support the HonorHealth General Endowment and the HonorHealth Cancer Care Endowment, funded by the Virginia G. Piper Charitable Trust.
Donors to an endowment make a gift that HonorHealth Foundation invests in support of programs the donor designates. The endowment is professionally managed under the direction of the Foundation’s Investment Committee. While the principle is never spent, investment earnings support the programs in perpetuity.
A fortunate introduction
When the Bakers first retired to the Valley in 2003, among their first priorities was to find new physicians in an unfamiliar city. Ron’s cousin, Jim Bruner, connected him to HonorHealth Foundation.
“At the time I was not familiar with Jim’s long history with the hospital system,” Ron recalls. “But the Foundation took time to understand our needs and introduced us to physicians who have cared for us through a number health issues and surgeries at Scottsdale Shea, Osborn and Thompson Peak. It was not long before we became intimately acquainted with the high quality of care given by both the doctors and the hospitals.”
Exponential impact
As residents of north Scottsdale, Ron and Ruth took interest in HonorHealth’s plans for a Thompson Peak campus and soon they were serving on an Advisory Council.
“I was impressed early on with the professionalism of the Foundation and hospital staff,” says Ron. “They truly listened to and acted on the feedback from Council members.” The Bakers became active in supporting the Thompson Peak expansion, hosting gatherings at their home to introduce neighbors and friends to the opportunity to impact healthcare in their community. Their personal gift was honored with the naming of the Thompson Peak Meditation Chapel, in memory of two of their daughters who had passed shortly after their birth. “It was gratifying to visit the room during the grand opening of the hospital.”
Still today, Ron speaks admiringly of the hospital.
“Ruth and I have been blessed by the services provided by Thompson Peak. We’ve used their emergency room services multiple times, Ruth has had two successful knee replacements there and I’ve had an emergency hip replacement as well. A close friend of mine was visiting from Philadelphia when he suffered a pulmonary aneurism while hiking at Brown’s Ranch. We rushed him to the hospital’s ER. We credit the hospital and the skilled doctors with saving his life.”
A heart of gratitude, hands of service
With a growing commitment to see HonorHealth grow and succeed, Ron was invited to join the Foundation board. He was serving as treasurer in 2008 when both HonorHealth and the Foundation were rocked by the economic meltdown.
It was during that period that Ron witnessed firsthand the wisdom of meaningful endowments. Many patients could not afford elective procedures, resulting in reduced revenue. On the Foundation side, many donors postponed or decreased their normal charitable giving due to economic uncertainties. But Ron noticed one bright spot: “Endowment income continued to flow. It was a much-appreciated benefit to the group.”
This lesson stayed with Ron when he was elected chairman of the Foundation Board of Trustees, leading through the merger of Scottsdale Healthcare Foundation and the John C. Lincoln Foundation to form HonorHealth Foundation.
“During my 10-year tenure, I developed a deep gratitude towards my predecessors in the Foundation. Through their foresight and wisdom, they successfully pursued solicitation of gifts for both annual operations as well as endowments meant for ongoing financial support.”
Securing the future
As part of their annual retirement planning efforts, Ruth and Ron made the decision to shift their giving towards endowments.
“We have intentionally directed our annual gifts to the General Endowment, based on the knowledge that we don’t have the foresight and wisdom to predict what the next crisis will look like. We surely did not predict the Covid-19 pandemic.” By donating to the General Endowment, the Baker’s provide flexibility for HonorHealth to use the interest earnings where they are needed most.
“Over the course of my service to the Foundation Board and the system’s Finance Committee, I’ve been greatly impressed by the professionalism and high ethical standards of these organizations. At the end of the day, Ruth and I are happy in the knowledge that our gifts will keep on giving!”
If you would like to know more about establishing or donating to an existing endowment at HonorHealth Foundation, please contact us at 480-587-5000 or Foundation@HonorHealth.com.