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Novant announced a $10m gift from Michael Jordan to open two clinics in New Hanover County that serve uninsured and underinsured individuals. (Port City Daily/Courtesy Novant Health)
NEW HANOVER COUNTY â Michael Jordan gave Novant Health $10 million, the company announced Monday, earmarked for the construction of two medical clinics in New Hanover County. The clinics will target uninsured and underinsured individuals in need of healthcare.
The announcement comes two weeks after the
sale of New Hanover Regional Medical Center to Novant Health was
formally executed. Company leaders are touting the move, as it signals Novant Healthâs ability to funnel resources into the county.
By Vicky Janowski, posted Feb 11, 2021
With the recent closing of the sale of county-owned New Hanover Regional Medical Center to Novant Health, about $1.25 billion from the purchase goes to benefit New Hanover County. Overseeing that staggering amount is an endowment and board responsible for how the money is managed and where grants from interest earnings will go into the community.
The heads of that new endowment board of directors spoke on Thursday s BizTalk to answer questions about what happens next, what an endowment of this size means for the Cape Fear region and the latest on a push to diversify the board. (For the application for two additional board seats to the board, go to the New Hanover Community Endowment s website here.)
UNCW has embarked on a the “silent phase” of its fundraising campaign and will now open to the public, hoping to take in an additional 50,000 gifts. (Port City Daily/Preston Lennon)
WILMINGTON UNCW will launch the next phase of its comprehensive fundraising campaign in early February. Work has been ongoing for a while to raise millions of dollars at the university. During the campaign’s “silent phase,” which started around the time Chancellor Jose Sartarelli took office in July 2015 and continued until this year, the university raised over $86 million.
With a $100 million goal in mind, UNCW will soon begin outreach to a wide pool of alumni and other affiliates of the university, hoping to secure an additional 50,000 gifts from alumni. The campaign was initially slated for an autumn 2020 launch, but was pushed back amid the continuing pandemic, according to Eddie Stuart, vice chancellor for university advancement.
âWhen are they going to be handing out the money?â
Word of the sale and its financial flood has understandably excited those working in the area’s philanthropic sphere.
From whispers to public chatter, community leaders are eagerly awaiting updates from the endowment with open hands.
“I think thereâs been a lot of speculation from nonprofits about, well, âWhen are they going to be handing out the money?â” Hannah Gage, the endowment’s co-chair, said. “First of all, we donât have the money. Thatâs outside of our control.”
If the sale does close Feb. 1 as expected, the endowment will receive $1.2 billion of the $1.9 billion in cash Novant is paying for the county-owned health care system, immediately making the newly formed foundation one of the largest nonprofit philanthropic organizations in North Carolina.