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.