# St Vincents Foundation of Alabama

St Vincents Foundation of Alabama is an Endowment / Foundation based in Birmingham, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Birmingham, United States
- **Region:** North America
- **Address:** Birmingham, AL, United States
- **Founded:** 1898
- **Assets under management:** $16M (Altss estimate)
- **Website:** stvfoundation.org
- **LinkedIn:** https://stvfoundation.org/

## Regulatory record

- **Reports private funds:** No

## About

St Vincents Foundation of Alabama launched in 1898 alongside the ascension of the St. Vincent's healthcare presence in Birmingham. The foundation raises and stewards donor capital for programs, education, equipment, and capital expansion across the UAB St. Vincent's network. It reports that 100 percent of every donation directly supports its programs, a structure that keeps fundraising tightly coupled to care delivery. Board oversight includes members drawn from Alabama's corporate and civic leadership. The foundation's investment portfolio is managed through an endowment account at Merrill Lynch, Pierce, Fenner & Smith Incorporated. Grant-making and operational funding target the UAB St. Vincent's system, with co-investor grants recorded from the Chicago Community Trust for summer childcare and cancer center support and from the Women's Foundation of Alabama for the Jeremiah's Hope program. Real estate holdings include Seton Property Corporation of North Alabama assets and an office at 1 Medical Park East Drive in Birmingham. The foundation operates under the UAB Health System Authority, which acquired the St. Vincent's Health System and its foundation in November 2024, ending the prior sponsorship by Ascension. Board members include Rusty Hutson, CEO of Diversified Energy Company, Nick Pihakis, founder of Pihakis Restaurant Group, and Marian Phillips LaRussa of Sterling Capital Management. A junior board, chaired by Rebecca DiPiazza, extends the foundation's reach into younger philanthropic circles in Alabama. Unlike foundations that manage multi-billion-dollar pools for broad grant-making, St Vincents Foundation of Alabama is a hospital-aligned vehicle: its endowment is modest but its mandate is operationally specific, channeling all donor capital into one healthcare system. That tight coupling — and the 2024 UAB Health System acquisition — makes the foundation's capital allocation a direct input into the region's nonprofit healthcare capacity rather than a standalone financial portfolio.

## Sectors

- Healthcare Services

## People

- Rusty Hutson — Board Member
- Nick Pihakis — Board Member
- Marian Phillips LaRussa — Board Member
- Ray L. Watts, M.D. — Authorized Official for Investment Accounts
- Rebecca DiPiazza — Chair, Foundation Junior Board

## Questions

### What is the relationship between St Vincents Foundation of Alabama and UAB?

In November 2024, UAB Health System Authority acquired the St. Vincent's Health System and its foundation, making UAB the parent entity. Prior to that, the foundation operated under Ascension sponsorship. The foundation's capital now directly supports the UAB St. Vincent's healthcare network.

### Where does the foundation's capital come from?

All capital comes from charitable donations. The foundation states that 100 percent of every donation directly funds its programs. There is no endowment draw from a founding family or corporate balance sheet — it is a pure fundraising-supported healthcare foundation.

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

Canonical page: https://altss.com/profile/st-vincents-foundation-of-alabama

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