The Medical University of South Carolina (MUSC) Foundation was chartered in 1966 as a charitable, educational foundation to support the education, research, patient care and other programs at the Medical University. The foundation is a 501(c)(3) tax-exempt organization, contributions to which are tax-deductible.
Since its beginning, the MUSC Foundation has encouraged such worthwhile academic enterprises as endowed professorships, scholarships, the acquisition and development of campus facilities to serve student, teaching, research or clinical needs, and awards in honor of academic excellence. In addition, it has encouraged achievements in biomedical research.
The Foundation is governed by a 31-member Board of Directors. The president of the Medical University is an ex-officio, non-voting member of the board. Three members of the University’s Board of Trustees also serve on the board. The remaining 27 at-large directors are not directly affiliated with the university. Five are alumni of MUSC. The Foundation’s funds are invested and managed by professional money managers selected by the Foundation’s Investment Committee. This committee uses a professional investment advisor to assist in evaluating its managers.