Friends of BioScience
The purpose of this restricted fund is to provide alumni, parents, and friends of the SSM BioScience Center of Excellence the ability to support the program through charitable donations. Gifts to this fund support SSM BioScience students, faculty, and program-related equipment and facilities, and are intended to provide for long-term sustainability of the program. As part of the School’s restricted gift policy, 5% of donations made to SSM’s Friends of BioScience will be directed to the Annual Fund for the support of the School’s general operating budget. The remaining funds will be allocated evenly to three priorities: today, tomorrow, and capital projects
33% of donations will be directed to the annual budget of the BioScience Center of Excellence.
Following annual planning and budgeting processes with the CFO, the Director of BioScience will prioritize, budget, and spend funds annually to improve overall program performance through expanded student opportunities. Any surplus funds above the annual budget will be allocated to the SSM BioScience COE endowment.
33% of donations will be deposited into an endowment fund that will provide long-term support to the program.
Once the required minimum corpus of $100,000 is reached, the fund will be endowed, and the School will follow a 5% distribution draw per year. The funds dispersed through the endowment draw will be managed by the Director of BioScience, the Director of Admissions, and CFO to increase the financial aid pool for BioScience students attending SSM.
33% of donations will be allocated to support capital improvements to BioScience-related facilities.
The Head of School, CFO, and Director of BioScience will prioritize, budget, and spend funds on improvements to these facilities. Any surplus funds above the year’s capital budget will roll over to the following year, earmarked for as-needed facilities improvements.