Endowment Status Approved
Happy Fall everyone!
I received notice from the Wexner Center Development office acknowledging that the Board of Trustees approved the Stang Memorial Fund as an endowment. The fund was able to go for consideration because we reached the minimum funding amount of $50,000. As of the beginning of September we have raised $54,055!
This is great news because it means that our fund is self sustaining. The fund generates the annual award for the internal medicine department resident award through its own interest which is approximately 4.5%. That means we should be able to award around $2430 to a deserving internal medicine resident.
I am not attending the reunion events taking place this fall, but several alumni have offered to hand out materials about the fund (i.e. business cards with our web address and the direct link to the fund) to their classmates at these events.
Even though we have reached our minimum funding goal, I still think we should collect contributions to the fund since it increases the impact of the award (possibly creating two awards). I also think it is important to continue spreading the word about the existence of the fund because a lot of alumni have been pleased to hear an award was established in John’s honor.
Lastly, in the next few months, I will work to contact the internal medicine office to facilitate the final details about the award and to provide a physical plaque of some kind to the office to give to the recipient of the award. If you have any input or suggestions, please send them my way.
One again, if you’d like to share a memory, photo, or video of John please pass it along to me to share with the group.
It has been a great experience to work with all of you generous people to create such a meaningful legacy for our mentor and our teacher. Ohio State is a great community and it is because of great people like you. Thank you again for your generosity!
And just in case you’d like to make a contribution, here is a link: