Charter of the Medical University of South Carolina Foundation

Name

The name of the corporation is the Medical University of South Carolina Foundation.

Offices

The Foundation's headquarters shall be located in the County of Charleston, City of Charleston. The Foundation may also have offices at such other places as the Board of Directors may from time to time appoint as the purposes of the Foundation may require.

Purpose; Dissolution

The purpose of the Foundation is to promote the educational, research, clinical and other programs of the Medical University of South Carolina and the Medical University Hospital Authority consistent with the policies of the Board of Trustees of the Medical University of South Carolina and the Medical University Hospital Authority.

To promote the aforementioned purpose of the Foundation, the Foundation shall have the following objectives:

To promote the recruitment and retention of a superior faculty by encouraging and aiding their professional development through support of such academic pursuits as the establishment of academic chairs and distinguished professorships; the support of visiting scientists and special seminar programs; and support for other programs which will assure the proper intellectual environment for faculty growth.
To promote, through acquisition or construction of new facilities or the renovation of existing facilities, the development of new academic programs at the Medical University of South Carolina and the Medical University Hospital Authority and to provide a mechanism for the improvement and expansion of existing programs.
To support the education programs in all colleges of the Medical University of South Carolina and to promote and aid in providing continuing educational programs for faculty, alumni and other interested parties and to aid in the development of new and innovative programs which will benefit the Medical University of South Carolina and the Medical University Hospital Authority.
To promote academic excellence by providing scholar ships to those students who by past performance have demonstrated their ability and desire to excel; and to provide loans to those qualified students who because of financial limitations would not otherwise be able to attend the Medical University of South Carolina.
To promote, encourage and aid scientific investigation and research by the faculty, staff and students at the Medical University of South Carolina and the Medical University Hospital Authority and to provide or assist in providing the mechanisms by which their scientific discoveries, inventions and processes may be developed, applied or patented, and to provide the means by which funds generated by such discoveries or patents can be utilized to stimulate and promote further investigation and research at the Medical University of South Carolina and the Medical University Hospital Authority.
To promote, support and aid any and all other activities and programs which will further the purpose of the Foundation as provided herein.

In the event of the dissolution of the Foundation, all of its assets shall be transferred by the Board of Directors to the Medical University of South Carolina, a corporation organized under the laws of the State of South Carolina to which is committed the state function of operating health and educational causes for the benefit of the State of South Carolina. If the Medical University of South Carolina is not in existence at that time, such assets shall be distributed to the Medical University Hospital Authority. If the Medical University Hospital Authority is not in existence at that time, such assets shall be distributed pursuant to the direction of a Court having jurisdiction over the Medical University of South Carolina Foundation to an organization to be used in such manner as in the judgment of the Court would best accomplish the purposes for which the Medical University of South Carolina Foundation was organized.

Duration

The Corporation shall be incorporated in perpetuity.

Amendments

The Board of Trustees of the Medical University of South Carolina and the Medical University Hospital Authority must be notified at least ninety (90) days in advance of any amendment to the Charter of the Medical University of South Carolina Foundation.

Revised 07/2012