ValleyCare Charitable Foundation Merger
After careful consideration, the VCCF Board of Trustees voted to move forward with a conditional merger of VCCF with Stanford Health Care – ValleyCare (SHC – VC), pending VCCF Member approval. We are proud of all that VCCF has been able to accomplish over the years, including funding the effort for SHC – VC to become a Primary Stroke Center in 2019; providing ongoing funding for state-of-the-art equipment, technology, and services; and much more. We believe this merger will help our community raise even more money to bring vital programs and services close to home. We also believe that a merger of VCCF with SHC – VC is well-timed and aligns with our strategic vision.
This page will provide up-to-date information about the merger as well as answers to Frequently Asked Questions. It will be updated when new information becomes available.
Virtual Town Hall Meeting Dates:
Friday, May 7, 2021
8:30 to 9:30 am
Tuesday, May 11, 2021
4:30 to 5:30 pm
Please call the VCCF office for information on how to join the meeting via Zoom: 925-373-4560
- Why is the merger best for the local hospital?
- What were the Affiliation requirements from the Attorney General?
- What was the timing of our membership with VCCF?
- How will the vote for the VCCF Members be handled?
- How will approval be determined?
- How will fundraising for Stanford Health Care – ValleyCare be managed post-merger?
- What will happen to existing VCCF unrestricted and restricted gift funds?
- How will future funds raised in support of SHC – VC be managed?
- What will happen to the established VCCF community events and giving societies such as the President’s Society and Circle of Care program?
- Who can I contact for additional information?
- PDF - Stanford University’s Office of Medical Center Development
Why is the merger best for the local hospital?
The VCCF Board believes the merger is in the best interest of VCCF because it will align with the plan for Stanford Health Care – ValleyCare and will open additional opportunities for fundraising through Stanford.
What were the Affiliation requirements from the Attorney General?
In 2015, Stanford Health Care and ValleyCare Health Systems entered into an affiliation agreement which required approval from the California Attorney General (AG), detailed in a letter dated April 7, 2015 (“AG Approval Letter”). Pursuant to Section XII of the AG Approval Letter, SHC – VC and SHC were required to submit an annual report to the AG detailing compliance with the conditions set forth in the AG Approval Letter for a period of five years. The VCCF Board was to be consulted regarding the provisions listed in the annual report that Stanford would submit each year to the AG regarding Hospital Committee for the Livermore-Pleasanton Areas Affiliation with Stanford Health Care. The final report has been reviewed by the VCCF Board and submitted to the AG. With the submission of the final report, the AG’s affiliation requirements have been completed.
What was the timing of our membership with VCCF?
When the Affiliation occurred, ValleyCare’s membership was transferred to VCCF. The membership enrollment each Member signed included language specifying a five-year term from the Affiliation date of May 18, 2015. The specific language in the membership agreement states: “Initial membership of the Charitable Foundation will be for a period of five years, and there will be no membership fees or dues for the initial membership.”
Under the VCCF bylaws, Section 2.5(b), membership terminates at the expiration of the term, which was May 18, 2020, unless renewed by the VCCF Board. The VCCF Board extended your term through the end of the merger, because the VCCF Board feels you are an integral part of ValleyCare Charitable Foundation and looks forward to your support of the merger with Stanford Health Care – ValleyCare. Once the merger is complete, VCCF will no longer exist, so the membership will terminate.
How will the vote for the VCCF Members be handled?
Under Section 2.17 of the VCCF bylaws, VCCF will distribute one written ballot by mail to each Member entitled to vote on the merger.
The ballots will include (a) the number of responses needed to meet the quorum and (b) the specific time by which the ballot must be received in order to be counted.
Each ballot will set forth the proposed action to approve the merger of The Hospital Committee for the Livermore-Pleasanton Areas, a California nonprofit benefit corporation doing business as Stanford Health Care – ValleyCare, and ValleyCare Charitable Foundation, a California nonprofit public benefit corporation, and provide the Members an opportunity to specify approval or disapproval.
There will be a self-addressed, stamped envelope included with each ballot for returning the ballot. The ballots will be mailed on May 7, 2021, and due back by 5 PM on June 18, 2021.
How will approval be determined?
Approval by written ballot shall be valid when (a) the number of votes cast by ballot within the time specified equals or exceeds the quorum required to be present at a meeting authorizing the action and (b) the number of approvals equals or exceeds the number of votes that would be required for approval at a meeting. A minimum of 19 members must cast a vote to meet the quorum and at least 50% of the votes must approve the merger to move forward with this important alignment.
How will fundraising for Stanford Health Care – ValleyCare be managed post-merger?
Stanford University’s Office of Medical Center Development (MCD) will be responsible for all fundraising across the Stanford Medicine enterprise. Click on the PDF at the bottom of this page for information from MCD regarding post-merger fundraising for the Hospital.
What will happen to existing VCCF unrestricted and restricted gift funds?
Per the answers provided by Stanford University’s Office of Medical Center Development (MCD) and SHC – VC, “Any funds remaining post-merger will be transferred to SHC – VC and stewarded according to the donors’ original intent.” Click on the PDF at the bottom of this page for the full answer.
How will future funds raised in support of SHC – VC be managed?
As indicated by Stanford University’s Office of Medical Center Development (MCD) and SHC – VC, “Future funds raised will be managed in compliance with Stanford University’s current funds accounting policies.” Click on the PDF at the bottom of this page for gift-acceptance and -restriction information.
What will happen to the established VCCF community events and giving societies such as the President’s Society and Circle of Care program?
As indicated by Stanford University’s Office of Medical Center Development (MCD) and SHC – VC, “Members of existing VCCF giving societies will be aligned and recognized within existing Stanford Medicine donor recognition programs.” Click on the PDF at the bottom of this page for more details.