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Memorial Medical Center Foundation
Founded in 1961, the Foundation emerged as the fundraising arm for Long Beach Medical Center and later its pediatric counterpart, Miller Children's & Women's...
Memorial Medical Center Foundation
Founded in 1961, the Foundation emerged as the fundraising arm for Long Beach Medical Center and later its pediatric counterpart, Miller Children's & Women's Hospital, under parent system MemorialCare. President Sharon Thornton and Board Chair Katherine Keesal lead an organization embedded inside a nonprofit integrated health system that traces its hospital roots to 1907. The foundation does not manage a general-purpose endowment for external investment; instead, it channels philanthropic capital directly into capital expansion, medical equipment, clinical research, and patient programs. The foundation's asset base spans charitable trusts, gift annuities, and a commercial real estate allocation that includes an Orange County physician real estate partnership and the Cherese Mari Laulhere Children's Village in Long Beach. UBS Trumbull Private Real Estate funds appear on the partnership roster, indicating exposure to institutional-grade real estate alongside direct holdings. Donor-directed vehicles — including the Memorial Seaside Legacy Circle for estate-plan donors and the Children's Memorial Hospital Auxiliary, a volunteer group active since 1946 — extend the foundation's capital-raising model beyond traditional grantmaking. Geographic focus is tightly concentrated in Southern California, serving Los Angeles and Orange County communities where MemorialCare operates four hospitals and over 200 care sites. Staffing and total asset data remain undisclosed. The foundation operates alongside Miller Children's & Women's Hospital Foundation within the broader MemorialCare system, with Blair Kent serving as CEO of both Long Beach Medical Center and Miller Children's & Women's Hospital. No recent 24-month restructuring or capital-campaign close is publicly documented, though the parent system's September 2024 rebranding to "Healthcare for Good" signals ongoing investment in community positioning. Unlike health-system foundations that pool assets for broad investment mandates, Memorial Medical Center Foundation functions as a direct conduit between donors and two named hospitals. This architecture means deployment decisions are shaped by hospital capital requests and donor intent rather than by an investment committee's asset-allocation model — a structural feature that makes the foundation's balance sheet an extension of the health system's operational budget rather than an independent institutional investor.
General information
Firm type
Endowment / Foundation
Year founded
1961
Location
Region
North America
Country
United States
City
Long Beach
Corporate office
Long Beach, CA, United States
Principals
Sharon Thornton
President
Katherine Keesal
Board Chair
Sector focus
Frequently asked questions
What is the relationship between the Foundation and MemorialCare Health System?
Memorial Medical Center Foundation is the philanthropic arm for two MemorialCare hospitals — Long Beach Medical Center and Miller Children's & Women's Hospital. MemorialCare Health System is the parent nonprofit that established the foundation in 1961 and remains its sole corporate member. Funds raised by the foundation flow directly to these two Long Beach campuses rather than to the broader MemorialCare system, which includes two additional hospitals in Orange County.
How does the Foundation invest its assets?
The foundation holds a mix of charitable trusts, gift annuities, and commercial real estate investments, including allocations to UBS Trumbull Private Real Estate funds and the Cherese Mari Laulhere Children's Village property in Long Beach. An Orange County physician real estate partnership also appears among its holdings. No public documents detail asset-allocation policy, spending rule, or total investment portfolio size.
Who runs investment decisions at the Foundation?
The foundation does not publicly name an investment committee, CIO, or external OCIO. President Sharon Thornton and Board Chair Katherine Keesal lead day-to-day governance, with operational oversight shared with Long Beach Medical Center CEO Blair Kent. Given the foundation's structure as a hospital-affiliated philanthropy, investment decisions likely sit with a board-level committee, but names and process are undisclosed.
Does the Foundation make grants to organizations outside MemorialCare?
No. The foundation exists to fund Long Beach Medical Center and Miller Children's & Women's Hospital. Its mandate is internal to MemorialCare — supporting patient programs, clinical research, medical equipment, and capital projects at those two campuses. It does not function as a community foundation or make grants to external nonprofits.
What donor networks does the Foundation operate?
Three networks are publicly identified: the Memorial Seaside Legacy Circle, which recognizes donors who have included the foundation in their estate plans; the Children's Memorial Hospital Auxiliary, a volunteer fundraising group active since 1946; and the Young Professionals Association, which targets donors aged 18 to 55 for Miller Children's Hospital initiatives.
Is the Foundation's financial position publicly reported?
As a supporting organization of a nonprofit health system, the foundation appears in MemorialCare's consolidated audited financials, but standalone disclosures — including annual giving totals, investment portfolio size, and operating budget — are not published on its website or in accessible regulatory filings.
How is the Foundation distinct from the Miller Children's & Women's Hospital Foundation?
The Altss research record identifies both a Memorial Medical Center Foundation and a Miller Children's & Women's Hospital Foundation under the same umbrella. The latter may operate as a parallel fundraising entity focused exclusively on the children's hospital, while the Memorial Medical Center Foundation supports both the adult hospital and broader initiatives. Public-facing materials often blur the distinction under the MemorialCare Foundation brand.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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