The following correspondence from the president of MUSC explains a program initiated by the South Carolina Legislature to promote the establishment and support of endowments within the state’s institutions of higher education.

Dear Friends:

In an effort to encourage donors to endow academic programs at our State universities and colleges, the South Carolina Legislature has devised a matching gifts program, earmarking additional state monies for institutions of higher learning. The program will be administered by the State Commission of Higher Education, which will match, dollar for dollar, the current earnings (up to 5 percent) on any new gifts to either new or existing endowments. While there are ceilings on the amount of matching funds available, the program’s main provisions are:

• Gifts to either new or existing permanent endowments made on or after July 1, 1997, qualify for matching.
• Gifts may be in the form of cash, income-producing securities, an income-producing business, real or personal property, mortgage notes and life income gifts or bequests.
• New gifts to existing endowments qualify for state matching. The MUSC Health Sciences Foundation will initiate the matching process for any eligible gifts, and benefactors whose gifts qualify for the match will be notified by the MUSC Office of Development.

Please join us in taking advantage of this unique opportunity provided by our Legislature to support the programs and services that help the Medical University maintain its position as a leader in health care, education and research.

For more information, please contact William M. Matthew, vice president for development, MUSC, 171 Ashley Avenue, Charleston, SC 29425.

As always, many thanks for all you do. Your support and involvement define our strength as an institution.

With warmest personal regards,

James B. Edwards, D.M.D. President, MUSC