The Medical Workers Scholarship Fund(MWSF) will raise funds to provide educational opportunities for sons and daughters of frontline medical workers who lost their lives fighting Covid-19.
It takes a special brand of courage to go into battle against a worldwide pandemic with nothing but protective clothing defending against an unseen enemy.
In gratitude for their heroism fighting a faceless enemy, I believe we have a responsibility to take care of those affected by the loss of mothers and fathers who were doctors, nurses and others charged with care of patients and maintenance of order and cleanliness. Together we can provide educational opportunities for their surviving children.
Because of its ambitious nature, starting an organization such as MWSF is time-consuming and costly. We are using GoFundMe to pay necessary fees ($600-$1700) to establish a tax-deductible 501(c)(3) non-profit organization. Being a "501(c)(3)" means that a particular nonprofit organization has been approved by the Internal Revenue Service as a tax-exempt, charitable organization." Legal and accounting fees ($1,000 - $3000) are additional costs. As this project matures and to the extent funds are available, we plan to separate the project from the Spirit of Freedom Foundation of which I have been executive director since January, 2001. Once this new foundation is up and running , I plan to turn it over to qualified executives and staff to implement the project mission.
With the exception of start-up organization expenses, all funds raised will be directed toward the scholarship mission. "The majority of banks have trust departments and offer their customers the option of opening a trust account. A trust account allows a person or entity to control the account's assets on behalf of a third party or beneficiary, such as setting up a college tuition fund. One of the main benefits of a trust account is that it allows the trust's creator, called the "grantor," to establish their own terms for how they want their assets managed and distributed to the beneficiaries."
Upon reaching our initial GoFundMe goal, our plan includes immediate creation of a Medical Workers Scholarship Fund trust account into which donations will be deposited. When MWSF is sufficiently able to operate on its own, we will set up the Medical Workers Scholarship Foundation to independently handle ongoing operations.
As we await legal and accounting formalities, we are moving forward with arrangements to procure grant-writing personnel. With literally billions of dollars available to resolve societal impacts created by Covid-19, we believe this project is particularly important.
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