Frequently Asked Questions
This section is designed to answer basic questions about private giving to the Medical University of South Carolina Foundation. If you have additional questions that are not included in the section below, or you need more information, please contact us.
Is there a standard amount most people give?
The amount of your contribution is a personal decision. Your comfort level is important and gifts at any level make an impact and are gratefully accepted. Friends who make gifts of $1,000 are recognized in our annual Honor Roll of Donors and also gain membership in the Society of 1824, the Medical University of South Carolina's charitable giving society. Gifts of $25,000 and above provide unique opportunities for naming a room, a program, or another mission appropriate to the contribution level.
Is my gift tax deductible?
Yes. The Medical University of South Carolina Foundation is a 501(c)(3) organization, contributions to which are tax deductible. The Federal Tax Identification Number is 57-6028985. The Medical University of South Carolina Foundation IRS Determination Letter can be downloaded under financial information.
What is the Medical University of South Carolina Foundation?
The MUSC Foundation is a 501(c)(3) tax-exempt organization chartered in 1966, contributions to which are tax-deductible. The Foundation functions as a charitable, independent entity from the Medical University and the Medical University Hospital Authority to support its education, research, patient care and other programs.
Why is giving important to the MUSC Foundation?
We depend on philanthropy today more than ever. Although MUSC is a state-assisted university, state appropriations to the Medical University now account for just 3 percent of the institution’s actual operating costs. Private support helps us close that gap, providing us with the resources needed to build a truly exceptional environment for learning, discovery and patient care.
What are the advantages of having a foundation?
As a private, independent entity, the Foundation can invest, manage and disburse its assets in ways the Medical University and other public institutions may not. As a result, we are able to fully leverage our assets and faithfully execute the philanthropic intentions of our benefactors.
Who governs the Foundation?
The Foundation is governed by a 31-member board of directors that consists of the president of the Medical University, an ex-officio, non-voting member, three members of the University’s Board of Trustees, and 27 at-large directors having no direct affiliation with the University.
What are the ethical standards of the Foundation?
- Commitment to the Foundation’s purpose
- Adherence to all applicable laws
- Maintaining standards of operation that are above reproof
- Respect for the Medical University of South Carolina and people it serves
- Recognition of the state-wide impact the Foundation’s actions can promote and enable
- Accountability, honesty and transparency to the Medical University and the general public
- Prudence in managing, investing and developing the resources of the Medical University
Will I get a receipt for my donation?
Yes. Upon receiving your gift, the Medical University of South Carolina Foundation will send you a letter, thanking you for your gift. Because this letter will indicate the amount of your gift, you may use it as a receipt for tax purposes.
May I designate how my gift will be used?
Yes. You may designate your gift to support a specific program, an event or a special project at MUSC.
Can I contribute a gift in-kind or a gift of my time and talents?
We have many areas of need that would benefit from a contribution of a gift-in-kind. To discuss, please contact the MUSC Office of Development.
