K21 Health Foundation Celebrates New Location
October 2, 2020 at 1:27 a.m.
K21 Health Foundation Celebrates New Location
By David [email protected]
On Thursday, the Kosciusko Chamber of Commerce held a ribbon-cutting ceremony for K21’s new location in Winona Lake. The building also is 21 years old.
“The reason why we wanted our own building at some point, and, obviously, the way we designed it was the ability for us to take just another asset K21 is responsible for and share it with the community to help the community. Even though it’s our home office, it wasn’t just for our benefit,” said Rich Haddad, K21 president and chief executive officer.
The building at 1101 Park Ave., Winona Lake, has meeting space and potential office space for a new nonprofit. “Those are ways we can continue to just share what we have been entrusted to manage and use it in a way that’s valuable to others,” he said.
The building is brick and mortar instead of an investment portfolio, but, Haddad said, “We want to take the same mindset that everything that we’re responsible to manage can be turned around and help our community in some way. Taking the building to help others is kind of the win-win that this facility – which, again, was a little larger than we needed ourselves – allows us to now create space for others. So that was, I think, some of the philosophy or purpose behind why this was a great decision for us and a great location.”
The additional space at K21 probably will be limited to nonprofit and community use, not for-profit rent. Haddad said their current plan is to not rent it out for money or to meet the for-profit world’s needs, but to help nonprofit or community organizations that don’t have another place to hold meetings.
“So it’s really more how does our mission play out in a way that we can help them do what they need to do, being the nonprofits or community,” Haddad said.
He said they’ll have to manage the requests in a way that is fair and reasonable.
The building construction originally was for the Billy Sunday Museum. Grace College then moved the museum to the Westminster building, and the Park Avenue building was renovated for the Remnant Trust. The Trust left, and the building sat empty for a while before Silveus Insurance rented it for its IT department for the last couple of years.
K21 purchased the building two years ago and let Silveus remain there until the business could find a new place before K21 renovated the building. K21 renovated the building from April to July this year with Ken Nisly and Winona Lake Restoration.
Another win with the building for the K21 Health Foundation is if it grows, the building provides room to do that. It has two more offices K21 could use if needed.
“It gives us expansion or, however our future looks at K21, we have the room to grow here. Probably forever because how big would a foundation really ever need to be?” Haddad said.
K21 was born when KCH needed to expand its services.
“They could have done that through debt financing or selling and requiring the new buyer to add the extra services and that’s ultimately what they did. So the new buyer added, over the 10 years after the sale, added a lot of new services to be competitive. But the proceeds of that sale was what started K21,” Haddad stated.
That was in 1999.
“And that is ultimately why our mission is focused on health and wellness, because we wanted to honor the original donors that helped build K21 and that the money came from an organization that was focused on health for Kosciusko County. So that shaped our mission as far as what we grant and why we grant: the health and wellness of the residents of the county. So it kind of tried to keep and honor the original donors and the original intent, but it’s now in the form of a foundation and grant making,” he said.
As for how much grant making K21 does, Haddad said the general rule of thumb is about $3 million a year out into the community, every year.
“As a private foundation versus a community foundation, the IRS requires us to grant a minimum amount every year. So we have an every year essential mandate – because of the type of foundation we are – to make grants. And the biggest challenge is, let’s make sure there’s incredible opportunities, and we’re identifying needs to direct our grants in a way that makes the biggest difference for our communities,” he said.
For more on the foundation, visit its website at www.k21foundation.org.
On Thursday, the Kosciusko Chamber of Commerce held a ribbon-cutting ceremony for K21’s new location in Winona Lake. The building also is 21 years old.
“The reason why we wanted our own building at some point, and, obviously, the way we designed it was the ability for us to take just another asset K21 is responsible for and share it with the community to help the community. Even though it’s our home office, it wasn’t just for our benefit,” said Rich Haddad, K21 president and chief executive officer.
The building at 1101 Park Ave., Winona Lake, has meeting space and potential office space for a new nonprofit. “Those are ways we can continue to just share what we have been entrusted to manage and use it in a way that’s valuable to others,” he said.
The building is brick and mortar instead of an investment portfolio, but, Haddad said, “We want to take the same mindset that everything that we’re responsible to manage can be turned around and help our community in some way. Taking the building to help others is kind of the win-win that this facility – which, again, was a little larger than we needed ourselves – allows us to now create space for others. So that was, I think, some of the philosophy or purpose behind why this was a great decision for us and a great location.”
The additional space at K21 probably will be limited to nonprofit and community use, not for-profit rent. Haddad said their current plan is to not rent it out for money or to meet the for-profit world’s needs, but to help nonprofit or community organizations that don’t have another place to hold meetings.
“So it’s really more how does our mission play out in a way that we can help them do what they need to do, being the nonprofits or community,” Haddad said.
He said they’ll have to manage the requests in a way that is fair and reasonable.
The building construction originally was for the Billy Sunday Museum. Grace College then moved the museum to the Westminster building, and the Park Avenue building was renovated for the Remnant Trust. The Trust left, and the building sat empty for a while before Silveus Insurance rented it for its IT department for the last couple of years.
K21 purchased the building two years ago and let Silveus remain there until the business could find a new place before K21 renovated the building. K21 renovated the building from April to July this year with Ken Nisly and Winona Lake Restoration.
Another win with the building for the K21 Health Foundation is if it grows, the building provides room to do that. It has two more offices K21 could use if needed.
“It gives us expansion or, however our future looks at K21, we have the room to grow here. Probably forever because how big would a foundation really ever need to be?” Haddad said.
K21 was born when KCH needed to expand its services.
“They could have done that through debt financing or selling and requiring the new buyer to add the extra services and that’s ultimately what they did. So the new buyer added, over the 10 years after the sale, added a lot of new services to be competitive. But the proceeds of that sale was what started K21,” Haddad stated.
That was in 1999.
“And that is ultimately why our mission is focused on health and wellness, because we wanted to honor the original donors that helped build K21 and that the money came from an organization that was focused on health for Kosciusko County. So that shaped our mission as far as what we grant and why we grant: the health and wellness of the residents of the county. So it kind of tried to keep and honor the original donors and the original intent, but it’s now in the form of a foundation and grant making,” he said.
As for how much grant making K21 does, Haddad said the general rule of thumb is about $3 million a year out into the community, every year.
“As a private foundation versus a community foundation, the IRS requires us to grant a minimum amount every year. So we have an every year essential mandate – because of the type of foundation we are – to make grants. And the biggest challenge is, let’s make sure there’s incredible opportunities, and we’re identifying needs to direct our grants in a way that makes the biggest difference for our communities,” he said.
For more on the foundation, visit its website at www.k21foundation.org.
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