# Hospice of the Valley

Hospice of the Valley is an Endowment / Foundation based in Phoenix, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Phoenix, United States
- **Region:** North America
- **Address:** 1510 East Flower Street, Phoenix, AZ 85014, United States
- **Founded:** 1982
- **Assets under management:** Undisclosed
- **Website:** www.hov.org
- **LinkedIn:** https://www.linkedin.com/company/hospice-of-the-valley

## Regulatory record

- **Reports private funds:** No

## About

Hospice of the Valley was established in 1977 in Phoenix, Arizona, as a community-rooted non-profit provider of end-of-life and palliative care. Executive Director and CEO Debbie Shumway oversees the organization's clinical operations and investment activities, guiding a model that blends patient care revenue with philanthropic support and an endowed investment portfolio. The organization's financial architecture is built to sustain long-term care infrastructure, not maximize quarterly distributions. The endowment strategy reflects a dual mandate: preserve capital for perpetual care operations while funding physical infrastructure expansion. Asset-class exposure spans commercial real estate, fixed income, and direct property development, with a geographic concentration in Maricopa County, Arizona. The portfolio includes the Hospice of the Valley Headquarters on East Flower Street, a Campus for Dementia Care and Education at 44th Street and Indianola Avenue, inpatient care homes across the county, and the Lund House in Gilbert. Governance and strategic positioning are reinforced through institutional partnerships rather than a large internal investment staff. Hospice of the Valley is a member of the National Partnership for Healthcare and Hospice Innovation, a consortium of over 70 non-profit hospice providers. The organization also participates in Advanced Illness Partners, a strategic vehicle focused on Medicare-related healthcare delivery models, with Debbie Shumway serving on its board. Long-term financial contributor Michael Pollack provides additional community-linked advocacy and funding. Structurally, Hospice of the Valley operates unlike a conventional endowment or foundation. It does not exist solely to grant funds to external causes — it directly owns and operates healthcare facilities, making it a hybrid asset owner and operating company. The investment portfolio functions as a backstop and growth engine for the clinical mission, meaning liquidity and asset-liability matching are driven by patient census cycles and Medicare reimbursement dynamics rather than a fixed annual spending rule. This intertwining of healthcare operations and investment management creates a distinctive governance challenge and a mandate that is fundamentally different from a university endowment or philanthropic foundation.

## Sectors

- Healthcare Services
- Real Estate

## People

- Debbie Shumway — Executive Director and CEO
- Michael Pollack — Long-term financial contributor

## Questions

### How does Hospice of the Valley's endowment differ from a typical university endowment?

Hospice of the Valley directly owns and operates healthcare facilities, making it a hybrid asset owner and operating company. The investment portfolio exists to fund clinical operations and real estate expansion, not to make grants to external causes. Liquidity needs and asset allocation are driven by patient census cycles and Medicare reimbursement dynamics rather than a fixed annual spending rule.

### Is Hospice of the Valley involved in value-based care payment models?

Yes, through its participation in Advanced Illness Partners, a strategic vehicle focused on Medicare Shared Savings Program and other value-based healthcare delivery models. CEO Debbie Shumway serves on the board of Advanced Illness Partners, which was selected as a Medicare Shared Savings Program participant as of September 2023, per CMS.

### Does Hospice of the Valley partner with other non-profit hospice providers?

Yes, Hospice of the Valley is a member of the National Partnership for Healthcare and Hospice Innovation, a consortium of more than 70 non-profit hospice providers. This membership provides advocacy, best-practice sharing, and potential collaborative purchasing power, but does not constitute a pooled investment vehicle or shared balance sheet.

### How is Hospice of the Valley funded beyond patient care revenue?

The organization sustains its operations through a combination of patient care reimbursements, philanthropic donations channeled through the Hospice of the Valley Foundation, and proceeds or appreciation from its endowed investment portfolio. Long-term supporters such as Michael Pollack of Pollack Investments provide additional financial contributions and community advocacy.

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Last updated: 2026-08-11T02:43:31.692Z

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