The Faculty of Medicine of Vilnius University on the occasion of its 240th birthday introduced its endowment sub-fund 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.
FACULTY OF MEDICINE TURNS 240!
The official foundation date of the VU Faculty of Medicine is the 24th of November, 1781, when the rector of the Grand Duchy of Lithuania High School Marcin Poczobutt announced the establishment of the Medicine department in his opening speech at the beginning of the academic year. The University went under the jurisdiction of the Educational Commission and became partly secular. Foreigners were educated by local professors, academicians and contributed very much to the fame of the Faculty of Medicine by obtaining Europe-wide recognition.
The building of the Faculty of Medicine (former Military School) seen here around 1915, and the Grand Auditorium around 1933.
The Faculty of Medicine, like the entire Vilnius University, has seen its highs and lows. It has, however, remained a highly respected and recognized training institution for Lithuanian physicians at European and global level. Its roots and expertise are significant to the history of the entire country. By relying on its past experience and wisdom, Faculty of Medicine continues to successfully make its own, University’s and country’s history.
MISSION AND VISION
The mission of the Faculty of Medicine is to train highly qualified, creative and critically thinking healthcare professionals by providing medical and health science studies at all degree levels and conducting fundamental and applied research together with experimental and technological development in the area of medical and health sciences of the international level.
The vision of of the Faculty of Medicine is to be the Lithuanian center for medical and health science and research, which is known globally and operates on a par with the medical and health sciences divisions of the leading European universities; and an active participant of health, education and research policy processes in the country and abroad.
ENDOWMENT CAPITAL SUB-FUND
The Faculty of Medicine’s endowment sub-fund is a sustainable and intelligent finance management model, where the received funds are invested in various asset classes and the return on investment is allocated annually to the needs of the faculty.
In international practice, the sum of the values of the restricted endowment sub-funds often exceeds the unrestricted endowment fund. For example, the value of Harvard University endowment sub-funds is amounting 82%. Meanwhile Stanford University – 80% and Yale – 76%.
Part of the return on capital investments is reinvested. It means that over the years the value of the Faculty of Medicine Sub-fund will grow on the principle of arithmetic progression. Check out the simulation below on how initial capital of EUR 100,000 will grow over the next 100 years and what return it will bring to the Faculty of Medicine.
The sub-fund’s capital is invested together with the main fund’s capital, earning a total return on investment. An allocation ratio of 2.5% (or individually agreed) is used to calculate the annual payout to the Faculty of Medicine. The part of the investment gain that exceeds the payout is reinvested. According to international practice, with the growth of the fund, both the distribution ratio (up to 4-5%, based on the US average) and importance of the percentage of last year’s disbursement, seeking for stable funding increase.
ALLOCATING THE RETURN ON INVESTMENT
The return on investment will be allocated for scholarships to students and resident doctor who need them most. The Faculty of Medicine sincerely believes that the most important thing for a future healthcare professional is a sincere desire to learn, grow and improve, to be compassionate to a patient and to provide medical assistance to a person who requires it. The Faculty of Medicine thinks that together we can ensure that all future health professionals will dedicate their time, strength and energy to studies, research and training of practical skills.
In the future, when the capital of the sub-fund grows to at least half a million euros, the return on investment will enable the Faculty of Medicine to attract talented researchers and purchase some modern equipment for our laboratories, to improve practical skills and the development of professional competences.
DONATE EASILY AND SPREAD THE WORD
Make your online contribution quickly and easily. Spread the word among the community! Let’s support the training of future physicians, dentists, nurses, physiotherapists, occupational therapists, rehabilitators, medical biologists, medical geneticists, art therapists, systems biologists, and other health professionals. They are our future!
You can also donate via bank transfer:
IBAN → LT58 7300 0101 7012 7991 (Swedbank) Payment purpose → Donation to VU FM Endowment Sub-fund Recipient → Paramos fondas Vilniaus universiteto fondas (company code 304222713)
For contribution contracts over 14.5 thousand Euro notarization is required. Vilnius University Foundation will take care of it. Contact us in a convenient way.