On June 20, 1950, The Community Hospital Endowment Fund of Beloit, Kansas was formed by committee members C.R. Hubbard, Floyd Lampert and L. E. Foote. The Executive Board of June 1950 was John S. Morrell, R.W. Dockstader, Sr., L.E. Foote, C.R. Hubbard, C.P. Bartelson, George Eresch, and H.D. Aaron.
On May 17, 1993, the name was changed to Mitchell County Community Endowment Fund.
Today, through contributions and the growth of investments, the fund has a market value of over $2,000,000.00. In the past few years, substantial contributions have been made to the Cardiac Rehabilitation Department and the Mitchell County Wellness Center. Additional funds have provided the Long Term Care van and ICU waiting room furniture. In 2011 the Endowment Committee provided funds to the Mitchell County Regional Medical Foundation to go towards the rennovation of the Perdue House.
A long-term commitment of $100,000.00 per year has been made to the Hospital should assistance be needed in making annual bond payments.