The Wayne Memorial Health Foundation was originally incorporated as a Pennsylvania nonprofit corporation on June 9, 1981 . The original directors were Paul Meagher, Robert Katz, Sr., John Weidner, Henry Skier and Harry Propst, M.D.  The name of the original entity was Wayne County Memorial Hospital Foundation, Inc., with its organizational meeting held on June 24, 1981 in the third floor dining room of the then Skilled Nursing Facility of Wayne County Memorial Hospital.  The Wayne County Memorial Hospital Association served as the incorporator.  Albert Rutherford, Esquire, served as counsel for the new entity.  Parente Randolph Orlando Carey and Associates served as the public accountants.  The first president was John Weidner.  Robert Katz, Sr. was the secretary/treasurer.

The Foundation’s original bylaws stated that it was incorporated for charitable, scientific and educational purposes within the meaning of Section 501 (c) (3) of the Internal Revenue Code of 1954.  More specifically, the purposes of the Foundation included fundraising and related activities to support and assist organizations that qualify as exempt organizations under Section 501 (c) (3) of the Internal Revenue Code of 1954, as well as, any and all activities consistent with or in furtherance of the above purposes.  Over the course of its existence, the Foundation’s name and bylaws have been amended several times.  The Foundation’s current name is Wayne Memorial Health Foundation, Inc. and its bylaws are essentially the same, except its purposes have been expanded to include not only fundraising, but fund management that support and assist organizations that qualify as exempt organizations under the Internal Revenue Code, which organizations are engaged in activities relating to the promotion of health or the provision of hospital or health care services; and furthermore, to make grants and gifts to such organizations, all in support of or in furtherance of the Mission of Wayne Memorial Health System or any of its subsidiaries.  The Foundation has the ability to make grants to other non-profit community organizations within its service area that seek to improve the overall health status of the community served by the Health System; and has created a mini-grant program to facilitate that function.  In addition, the specific purposes of the Foundation now includes the acquisition, ownership, use, lease, as lessor or as lessee, conveyance or other transactions with real and personal property.  Again, all in support of those organizations described above and in furtherance of the Mission of Wayne Memorial Health System.

Today, the Foundation is the designated recipient of all charitable contributions that are to benefit the entities that comprise Wayne Memorial Health System.  The Foundation also serves as the investment manager for all Health System entities.  The Foundation is one of four partners in the Upper Delaware Area Cancer Consortium, a freestanding cancer treatment center, located in Matamoras , Pennsylvania .  The other partners are Mercy Health Partners in Scranton , Bon Secours Community Hospital in Port Jervis, and the Pike County Radiation Medicine Associates, Inc.  The Foundation is also the owner of Wayne Health Services, a for-profit Pennsylvania corporation that is engaged in durable medical equipment sales and rentals, as well as, commercial real estate management.  The Stourbridge Mall in Honesdale is the company's principal real estate asset.  The Foundation, in its own right, also owns and leases a considerable amount of real estate immediately surrounding the main hospital campus, located at 601 Park Street in Honesdale.