In honor of their 50th Reunion, Neal Flomenbaum, M.D. '73, David Siegel, M.D. '73, Gary Lotner, M.D. '73 have established a Class of 1973 Endowed Scholarship as part of the Scholarship Match. To date, nearly 20 other members have joined the effort.
To further expand the impact of this endowed scholarship, the fund remains open to new donations. Classmates and friends can contribute any amount to the endowed fund and with the matching, all donations will be matched dollar to dollar up to $250,000, doubling the impact of a collective fundraising effort.
Envision the following matching scenarios in honor of the Class of 1973’s legacy. Combined with matching, an endowed scholarship of:
- $100,000 will generate $5,500 annually and will help reduce student indebtedness.
- $200,000 will generate $11,000 annually in scholarship support. A scholarship at this level increases the average need-based aid award given currently by nearly 40%.
- $300,000 will generate $16,500 annually, doubling the magnitude of our current average need-based aid student scholarship.
- $500,000 will generate $27,500 annually. This level of scholarship funding has historically been the “tipping point” that makes us competitive with our peer institutions and helps to attract Einstein’s top applicants.
If you have any questions or suggestions, please contact the Office of Development and Alumni Relations at (718) 430-4171 or min.um-mandhyan@einsteinmed.edu.
Endowed fund administration: Einstein follows the terms of the New York Prudent Management of Institutional Funds Act (“NYPMIFA”), which allows Einstein to expend amounts from its endowment funds even when market values decline below the endowment funds’ historic dollar values. The College would act prudently in determining the amount to so expend, taking into account several factors enumerated in NYPMIFA such as the purpose and preservation of the fund, the needs of the institution, general economic conditions, expected earnings, and the availability of other resources. No changes would be made as to how the funds are to be used.
