Our HistoryParkland Foundation was established in 1985 after a representative of Parkland Memorial Hospital approached the Dallas Clearinghouse (an association of local banking institutions) seeking its help for a hospital project. The association informed hospital officials that they could not make donations to a tax-supported institution and suggested that Parkland form a not-for-profit foundation. Thus, the Texas Foundation for Health Sciences received its charter in December 1985 and incorporated in January 1986 to accept and manage funds donated for charitable, educational, and scientific purposes. The Foundation charter calls for the organization to exclusively support and benefit the Dallas County Hospital District, also known as Parkland Health & Hospital System. The Texas Foundation for Health Sciences began operating in July 1986. In 1990, it was re-named Parkland Foundation. Legal StatusParkland Foundation operates as a tax-exempt organization under the Internal Revenue code, thus enabling Dallas County Hospital District, i.e., Parkland Health & Hospital System, to receive funding from donors who are not able to contribute to a tax-supported entity. In addition to being a 501(c)(3) entity, it operates under 509(a)(1) and 170(b)(1)(A)(vi) of the IRS Code because of its standing as a charitable support organization of a governmental entity. In its status as a charitable organization, Parkland Foundation functions as Parkland's Office of Development. |