Ascension St. Mary's Foundation

Investment oversight sits with the foundation's Finance Board, which includes Vice Chairman Luke Kulczyk Suminski. The foundation also participates in the Ascension Alpha Fund, a pooled vehicle managed at the Ascension system level in St. Louis, meaning asset allocation and manager selection are partially centralized through the parent health system's treasury function.

The foundation is a component of the Ascension Catholic health ministry, granting it access to the Ascension Alpha Fund — a pooled investment vehicle serving multiple Ascension-affiliated foundations. This system-level structure provides institutional-quality diversification while the local board retains discretion over grantmaking and community-directed capital. The foundation's corpus is legally restricted to charitable purposes supporting Ascension St. Mary's Hospital and its successor, MyMichigan Medical Center Saginaw.

When MyMichigan Health acquired Ascension's Saginaw hospital assets, the foundation transitioned to MyMichigan Medical Center Saginaw Foundation. This preserved the foundation's endowment corpus and philanthropic mission while aligning its beneficiary relationship with the new hospital operator. The foundation maintains its investment ties to the Ascension system through the Alpha Fund.

The foundation's charitable mandate is geographically focused on Saginaw, Michigan, where it supports community health programs tied to the local hospital. Its participation in the Ascension Alpha Fund connects it to a national investment infrastructure, but grantmaking appears limited to the Saginaw service area. No multi-region or national grant programs have been publicly identified.

Governance is tightly interwoven with hospital leadership. Board members include Jordan Jeon, who serves as Interim Regional President & CEO of Ascension Michigan North Region, and Luke Kulczyk Suminski, who holds both board and finance committee roles. This embedded structure reflects the foundation's origins as a hospital-aligned fundraising entity rather than an independent grantmaking institution.

Disclosed holdings include SVH Real Estate Inc., a commercial real estate entity based in St. Louis, pointing to direct real asset exposure. The full portfolio composition — including any separately managed accounts, direct public equity positions, or alternative investments outside the Alpha Fund — has not been publicly reported.

The foundation solicits charitable support from the community, but the specific vehicles offered — whether direct gifts, donor-advised funds, planned giving instruments, or endowments restricted to specific hospital programs — are not detailed in publicly available materials. Its registration as a 501(c)(3) supporting organization for Ascension St. Mary's Hospital governs the scope of its fundraising activities.