A New Foundation

MCG is initiating an exciting new partnership to manage philanthropic gifts. Plans are underway for MCG to form a new foundation to enhance support for the many progressive initiatives that are both underway and on the horizon.

FREQUENTLY ASKED QUESTIONS

Q     Why is MCG starting a new foundation to manage its philanthropic gifts?

A     At present, we’re operationalizing an aggressive statewide expansion plan to meet Georgia’s critical physician shortage. In addition to expanding our medical education program, we’re also building capacity in our School of Dentistry. And to accommodate those expanded class sizes, we’ll require additional property and new facilities. We continue to add new distance learning sites to expand the reach of our schools of Allied Health Sciences and Nursing Growth of this scope requires the full support of our cooperative organizations. Now, more than ever in our history, we must all work together to achieve MCG’s vision of becoming one of the nation’s premier health sciences universities.

Q     When will the new foundation be formed?

A     The process is already underway. We anticipate an approximate four-month transition period to file the proper IRS documents and meet all legal obligations.

Q     What will happen to the funds currently held by the MCG Foundation?

A     Funds established with the MCG Foundation in support of scholarships, research, projects and programs at the Medical College of Georgia will not automatically be transferred to the new foundation. By law, the MCG Foundation is bound to honor the intentions of the donors who have made gifts in support of the Medical College of Georgia through the MCG Foundation.

Q     Will I need to do anything differently to use the MCG Foundation dollars assigned to my department and/or project?

A     No. All current business practices (check requests, etc.) related to use of MCG Foundation funds will continue as usual.

Q     Will “unrestricted” gifts to the MCG Foundation still be used to support MCG?

A     The MCG Foundation has traditionally used “unrestricted” dollars to cover Foundation operating expenses and at its discretion in support of MCG.

Q     I am making regular contributions to MCG through payroll deductions, bank drafts or credit card charges. Do I need to do anything?

A     Not necessarily. Annual contributions made through these means will continue to be handled by the MCG Foundation. Once the new foundation is fully established, we will contact you to give you a choice about which foundation you wish to handle your contributions.

Q     What will happen to my TeamMCG and/or President’s Corporate Partners contributions?

A     The MCG Foundation will continue to manage those funds through the next fiscal year. We will transition such gifts to the new foundation in the next giving cycle.

Q     I have made arrangements to remember MCG in my will or through another type of testamentary gift. Do I need to do anything?

A    The MCG Development Office will be in contact with donors who have made us aware of such gifts. In the meantime, you may contact Tony Duva, associate vice president for gift planning, at 706-721-1939 or aduva@mcg.edu.

Q     I just started a new scholarship, but it's not fully endowed yet. What will my options be?

A     It depends—every case will be handled on an individual basis. Talk with your Development Officer or send your contact information to GIVE2MCG@mcg.edu for more information.

Q     Can I move my scholarship/chair/program fund to the new foundation?

A     Many new opportunities will be provided when the new foundation opens, however, funds currently held by the MCG Foundation, Inc., will continue to be managed by that organization.

Q     Should I contact the same person as I do now for information about my fund and for making future donations?

A     Yes. Development Officers and staff members in the MCG Division of University Advancement will assist in managing and expanding funds held by both foundations.