VU Faculty of Medicine Launches Endowment Subfund: Donations to Be Invested, Returns to Be Used for Scholarships
The Faculty of Medicine of Vilnius University (VU) on the occasion of its 240th anniversary introduces the Endowment Subfund under the VU Foundation and invites the public, faculty partners and friends as well as the alumni community to contribute to the development of a future generation of medics and other biomedical specialists by donating online.
The Faculty of Medicine aims to crowdfund an initial endowment capital of EUR 100,000, which together with the capital of the VU Foundation, will be invested in various asset classes. The return on investment yielded, will be allocated to the faculty proportionally and will be awarded in the form of scholarships for the most talented students and resident doctors, reducing their financial burden.
“The most important thing for a prospective health care specialist is a sincere will to study, to grow, to improve, to be able to empathise with a patient, and to help those in need of aid. Let’s wish the Faculty of Medicine a happy birthday by supporting a newly established Subfund. Let’s reduce the financial burden students and resident doctors have on their shoulders, and let’s make sure that these prospective health care specialists devote all their time, effort and energy to their studies, to science and the improvement of practical their skills,” invites Prof. Algirdas Utkus, Dean of the Faculty of Medicine.
According to Justinas Noreika, the CEO of the VU Foundation, in the future, when the capital of the Subfund grows to at least half a million euros, the return on investment will enable us to attract talented researchers and purchase some modern equipment for our laboratories, to improve practical skills and the development of professional competences. This is the first subfund in the history of the VU Foundation. He also suggests some other units of VU are also actively considering the establishment of such subfunds.
“It is delightful that the community of medical specialists decided to mark the birthday of their faculty meaningfully! The health crisis, which has hit the entire world, has once more demonstrated that our healthcare sector funding, needs viable solutions. This Endowment Subfund is the first step in creating a long-lasting change in this field. This sustainable and intelligent model of finance management and the resulting benefit, will contribute to the training of Lithuanian healthcare specialists and will help create better conditions in the VU Medical Faculty to enable us to compete on an international scale,” hopes Justinas Noreika, the CEO of the VU Foundation.
The Faculty of Medicine invites all to be part of this initiative by contributing online and spreading the word among the community. Donations via bank transfers are also accepted:
IBAN: LT58 7300 0101 7012 7991
Payment purpose: Donation to the Faculty of Medicine Subfund
Recipient: Paramos fondas Vilniaus universiteto fondas (company code 304222713)