The King County Medical Society has created the Community Foundation which is a nonprofit 501(c)3 charitable organization formed in order to:
- Provide scholarship funds to medical students through its educational and charitable giving,
- Help unify organizations to improve the health of the people in and around King County,
- Continue the Society’s enduring commitment to advance both the profession of medicine and the caring and concern of the physician-patient relationship,
- Create a lasting legacy for the King County Medical Society.
Specific programs that the Community Program offers are:
- Education: The Community Foundation recognizes the extraordinary financial needs of medical students. In response to the financial shortcomings faced by a majority of medical students, the Society’s Community Foundation is planning on issuing several scholarships each year.
- Community: The Community Program will seek opportunities to promote civic responsibility through community charitable gifts, development, outreach and volunteerism.
- History: Preserving and maintaining the rich history of medicine and public health in King County through education, special programs will continue to be a priority for the Community Foundation.
Funding the Scholarship Program
Guidelines for Establishing A Scholarship with the King County Medical Society Community Foundation
Ways to Give in order to assist students and leave a legacy to future physicians:
I. Cash: please click here to donate directly to the scholarship fund.
II. Grateful Patients Program: Do you have patients that would like to do something special for you? Send them to this page and they can donate in your name to the scholarship program. Do your patients have a story that they’d like to share? We would love to highlight these fundraising events in our monthly newsletter. Contact email@example.com
III. Grateful Family Program: Encourage family and friends to donate directly to the scholarship fund on your birthday, your retirement, or in memory of a loved one. Each personalized fundraising effort provides the opportunity to make more physicians aware of the opportunity to support our mission.
IV. Give Through Your Will: Leaving a portion of an estate to the Community Foundation is one of the greatest ways you can impact their community long past your lifetime. We work directly with Professional Advisors to help members leave a legacy that can make a difference for generations to come.
V. Give in Memory: One lasting way to remember a loved one is to establish a fund in their memory. Memorial gifts are collected on the behalf of the family and we work with the family to determine how best to honor your loved one. This can mean establishing a scholarship in their name and/or with specific criteria set out by you.
VI. Create a named scholarship through the King County Medical Society Community Foundation. It’s a truly meaningful way to honor family and friends. But how?
Step 1: Establish an endowed scholarship
We urge you to work with our friendly staff to create an endowed scholarship in the name of a loved one, or yourself! These funds are designed to be permanent and perpetual and can be created with gifts totaling a minimum amount of $25,000, contributed in full at the outset or with an initial commitment that is added to over time until the endowment level of $25,000 is attained. The principal of the fund is invested to produce income, and an annual award is made to a student/s. The principal remains untouched, so the endowment can last into perpetuity.
Step 2: Establish Scholarship Criteria
As a scholarship donor, you choose the name of the scholarship as well as the criteria. The King County Medical Society Community Foundation staff is available to help you create the criteria for your scholarship. Endowed scholarships from the Foundation are awarded to deserving students based upon area of interest, leadership potential, community involvement, merit, academic achievement and/or other criteria…whatever you identify as the criteria. It is your scholarship to craft with our help, of course.
Step 3: Administration of Scholarship Funds
A selection committee carefully reviews the scholarship applications submitted by students and selects the most deserving recipient(s) based on the donor-established criteria.
Major contributors of a scholarship fund are notified annually when the scholarship recipient(s) has been selected and are informed of the name and hometown of the recipient, as well as the amount of the award. If so desired, the recipient and donor are able to meet.
Tax Benefits of Funding a Scholarship
An outright gift in the form of cash or appreciated securities will allow you to receive immediate tax benefits in the year you make the gift to the King County Medical Society Community Foundation. In the case of appreciated securities, you may also avoid capital gains taxes.
You can also provide for your scholarship in your estate plans. Estate gifts or planned gifts are an easy way to establish a scholarship without affecting your current income or assets.
Contact CEO, Nancy L. Belcher directly for more information: 206.621.9396 or firstname.lastname@example.org
How are King County Medical Society Community Foundation scholarships named?
The major benefactor of a scholarship establishes the scholarship name. You can establish a scholarship in your own name or choose to name it for a friend, family member, organization or a favorite faculty member.
How are the selection criteria established for the scholarship I am establishing?
You can help establish the scholarship criteria by expressing your intentions for the award. The Society’s Community Foundation staff will draft the scholarship criteria according to your specifications and present it to you for your approval.
How are Society Community Foundation scholarships awarded?
Foundation scholarships for current students will be advertised on our website and applications collected online. A selection committee will carefully review each application and select the most deserving recipient(s) based on the established criteria.
Will I receive notification when a student is awarded the scholarship?
You will be notified annually when the scholarship recipient(s) has been selected. You will be informed of the name and hometown of the recipient, as well as the amount of the award and status of the fund. Your scholarship will also be recognized in our annual report.