DALLAS (Jan. 30, 2024) – Keeping with its tradition of stable and tenured leadership, Southwestern Medical Foundation is undertaking a series of transitional steps for its next chief financial officer.

Sarah Fletcher, an experienced financial executive, joins the Foundation as its next chief financial officer. Ms. Fletcher will work closely with Kay Schlankey, the Foundation’s outgoing senior vice president and chief financial officer, during the coming weeks to ensure a seamless transition.

“The Foundation has experienced remarkable growth in recent years, and Kay’s strategic leadership has been a driver of excellence every step of the way,” said Michael McMahan, president and chief executive officer. “We are deeply grateful for the lasting impact she built for our mission.”

In addition to her role as CFO, Ms. Fletcher will serve as an officer of the Foundation and oversee the accounting and investment of the Foundation’s $1 billion endowment that supports leading-edge medical research, education, and patient care.

Sarah Fletcher

Ms. Fletcher comes to the Foundation from Trinity Park Conservancy after five years as their chief financial and administrative officer. She has extensive philanthropic and corporate experience in Dallas. She also served as a private equity investment vice president for acquisitions and served in a variety of roles with the Federal Reserve Bank of Dallas. She holds a Master of Business Administration from Southern Methodist University’s Cox School of Business and two degrees from Baylor University – a Master of Arts in Organizational Behavior and Design and a Bachelor of Arts in Political Science.

“With this move, we have the best of both worlds,” said Mr. McMahan. “This allows for an easy transfer of knowledge as Sarah begins her new role and provides Kay a chance to wind down after 16 amazing years here.”

Southwestern Medical Foundation is a sustainable source of funding and advocacy for innovative research, best-in-class medical education, and high-quality patient care. For the last 85 years, it has partnered with the North Texas community to inspire progress in medicine.



Southwestern Medical Foundation is a public charity and a registered 501(c)(3) organized in 1939 with a question: “Why not a great medical center in the Southwestern United States?” The Foundation was created to rally citizens in support of the highest quality health care possible in the Southwestern US. Out of that community vision, UT Southwestern Medical Center emerged. Today it remains the Foundation’s partner and most significant beneficiary. Southwestern Medical Foundation is guided by four core principles: Service to Community, Vision of Excellence, Mindful Stewardship, and Best Outcomes. Each principle is a promise to donors, beneficiaries, and generations to come that the Foundation is dedicated to bringing the gift of better health to the Southwest and the world beyond. Southwestern Medical Foundation continues to earn a Candid (formerly GuideStar) Platinum Seal and Charity Navigator Four-Star Rating. These organizations rate governance, accountability, and transparency, supported by both qualitative and quantitative measures.