Biodesign Alumni Legacy Fund
Your chance to pay it forward!
The Unmet need
Biodesign does not actually receive any funding from Stanford to assist in covering the costs of the fellowships. Every year, the leadership team has to raise funding to pay for the majority of the fellows; only a few seats are fully endowed. This takes a lot of work and mindshare that could be better spent on improving the program.
A way to sustainably fund the fellowship so Biodesign leadership can focus on providing the best health technology innovation program.
Introducing the Biodesign Alumni Legacy Fund
The Biodesign Alumni Legacy Fund was created as a vehicle for the alumni of the Biodesign Fellowship to give back to the program in a meaningful way. Any funds contributed to the Biodesign Legacy Fund will be used exclusively to support the fellows. Every year the earnings generated from the fund will be directed towards the fellowship.
The Big, Hairy Audacious Goal
That is what is costs to endow a single Biodesign fellowship position. Once the capital within our Alumni Legacy Fund reaches $1.2M, the fund can be converted into an endowed fellowship position. This means that for perpetuity, there will be a Biodesign Alumni Legacy Fellow. This is our goal.
We know, $1.2M is a lot of money. Fortunately, we have some help. There is the potential for several time-sensitive matches available that can provide up to $400,000 to close out the fund if we can reach $800,000. Also, there is already ~$200,000 either in or committed to the fund currently, which means we need an additional $600,000. Do the math…$600,000 divided by ~150 alumni is only $4,000 per alumni.
Interested but not ready to make a lump sum donation?
No problem. Your full donation can be committed over multiple years. More math…$4K/3 years gives us ~ $1,333 per year is the same as $111/month or $3.82/day. Let’s be honest, you spend more than this at Philz… sweet and creamy anyone?
There are many reasons to make a gift to Biodesign…
- For those who want to a deep personal impact with their gift
Contributing to the fund has the potential to greatly impact the professional and personal trajectory of a new fellow every year! How much did you get out of Biodesign? I am sure there is another version of you out there begging for the same opportunity you received.
- For those who like to give to causes with scalable impact
How many great technologies and companies have been created from the education provided by the fellowship? A contribution to this endowment is a contribution to seeding more needs-based innovations into the world. Fellow initiate projects have already reached millions of patients. More fellows mean this number should will inevitably continue to grow.
- For those that want to pay forward the gift they were given
How much value do you think you received from Biodesign? If the stipend you received had been reduced by 10% would you have still done it? What if there had been no stipend at all? It is incredibly unique for such a selective and valuable professional program to pay its students to learn. Perhaps you can consider giving to the fund as heavily subsidized, delayed tuition.
So, can we count on you?
Making a charitable gift is always a personal decision and we understand everyone will be able to give at different amounts. What is most important is that if you found value in the program we would love you to really consider this chance to give back and decide on the amount that is right for you. Whatever the amount, we want YOU to be involved in making this happen.