Powerful. Sustainable. Lasting.
Endowments at Moffitt have tremendous potential – with the power to fuel innovation and discovery in cancer treatments, while also providing financial stability through economic downturns and ebbs in government funding.
What is an endowed chair?
The gold standard
A distinguished chair at Moffitt is a prestigious and coveted honor for the recipient, as well as an opportunity for the donor to establish a permanent named legacy at Moffitt. The endowed fund also provides critical annual income to be used by the distinguished chair to support groundbreaking research and treatment in the program he or she leads.
Reserved for the most eminent researchers and clinicians at Moffitt, as determined by the institution, the official title of Distinguished Chair and the use of the funds from the endowment will be awarded ex officio to the faculty member while serving in his or her leadership role. All successors to that leadership role will be accorded the same.
The importance of endowed chairs
Attracting and retaining top talent
Moffitt’s continued success in groundbreaking research and outstanding patient care originates from one common source: its faculty. Moffitt’s clinical and research faculty must be the best in their fields, bringing exceptional talent to the organization, accelerating new discoveries, and implementing the innovative treatments that are changing the face of cancer treatment right now.
To attract and keep this superstar caliber of faculty, Moffitt must be a known and desired destination for the best and brightest cancer researchers and clinicians. Endowed chairs are universally recognized as powerful magnets for recruiting and retaining the best faculty in the world.
Additional endowment opportunities
Gifts of any size, including bequests, can be directed to the general endowment as unrestricted funds used to support Moffitt’s areas of greatest need. There may also be an existing endowment that reflects your interests and to which you can add your support. Donors who have established endowment funds in the past can continue making gifts to them over time, allowing the fund to grow. The larger a fund is, the more impact it can have each year.
For more information on endowment opportunities, please see our FAQ below or contact Kathleen Luzier-Bogolea or David Curry at 813-745-1403 or Campaign@Moffitt.org.
What is an endowment?
Endowments are like 401K saving account for Moffitt and serve to provide a permanent and dependable source of income every year. Endowment assets are invested, with a portion of the fund’s value being paid out to support its intended purpose. Any excess earnings are used to build the fund’s overall market value.
Endowments at Moffitt can be restricted or unrestricted. Restricted endowments support specific physicians, researchers, programs and other initiatives. Unrestricted endowments provide flexibility for Moffitt to select and fund critical areas of greatest need.
Whose name is on an endowment?
Donors who establish a distinguished chair at Moffitt may name the award after themselves or an honoree, and also have the option to designate which leadership role they wish to support. Because distinguished chairs are endowed, the name the donor chooses will last in perpetuity at Moffitt.
How do I find out about my endowment after making a gift?
All donors who establish an endowment will receive yearly reports on their fund’s financial status and the impact on research progress the income stream has powered. Endowed chair donors also have the opportunity to meet with the physician, researcher or program teams they fund to hear more.
What is the value of Moffitt’s endowment?
The market value of all endowment funds supporting Moffitt approximated $15 million as of June 30, 2017. With the newly established endowment opportunities now available, this number has the opportunity to grow tremendously and make a significantly larger impact.
Who manages Moffitt’s endowment assets?
Moffitt’s endowment funds are professionally managed and operated by authority from the Board of Trustees and Joint Finance Committee. Moffitt’s President and CEO, Dr. Alan List, is the accountable officer. Moffitt receives investment advisory services from premier financial consultants in order to pursue a smart, conservative strategy emphasizing consistent returns. It is Moffitt’s goal to ensure that our endowments will remain a dependable and secure generator for scientific innovation while providing a lasting tribute to the generosity and vision of the donors who establish them.
For more information on endowment opportunities, please contact Kathleen Luzier-Bogolea, Kelly Gicale or David Curry at 813-745-1403 or Campaign@Moffitt.org.
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