American College Of Surgeons - Inspiring Quality: Highest Standards, Better Outcomes

Chapter Initiatives Fund joins forces with the ACS Foundation

The Chapter Initiatives Fund program is a collaboration between the ACS Foundation and the ACS Division of Member Services. The program allows donors and potential donors to designate financial gifts to an ACS Chapter of their choosing. The ACS Foundation is recognized as a tax-exempt, not-for-profit organization, and therefore all contributions to a Chapter Initiatives Fund are tax-deductible to the extent allowed by law.

Why Establish a Chapter Initiatives Fund

A Chapter Initiatives Fund serves as another revenue source to provide opportunities for Chapter members. Chapters may use the funds raised under the program to cover costs associated with advancing the mission of the Chapter/ACS. These may include, but are not limited to, the following:

  • Educational events
  • Grants to cover portions of travel and accommodation for educational speakers
  • Research scholarships and fellowships
  • Educational grants to cover portions of travel and accommodation expenses to attend events such as the Clinical Congress, the Leadership & Advocacy Summit, and other Chapter-related,  national/international events
  • Domestic and international guest scholarships and speakers

To date, 11 Chapters have joined the program and nearly $80,000 has been contributed to these funds. All gifts to a Chapter Initiatives Fund are held by the ACS Foundation as restricted donations for the benefit of the respective chapter.

How Chapter Accesses Funds

A Chapter Initiatives Fund committee (or similar) consisting of Chapter members may submit a request to the ACS Foundation for dispersal of funds to support an initiative. Ultimately, Internal Revenue Code (IRS) regulations and laws governing charitable foundations require that final approval for all disbursements remain with the Foundation. Disbursement requests that fall within the educational purposes of the Foundation and the guidelines of a Chapter Initiatives Fund will not be unreasonably withheld.

Who Can Donate to a Chapter Initiative Fund

Anyone may donate to a Chapter Initiative Fund. The ACS Foundation is a 501C-3 nonprofit as established by the IRS. This tax status means that donations to a Chapter Initiatives Fund are considered charitable contributions and are thus tax deductible. Once said funds are received by the ACS Foundation, they cannot be returned to the individual donor or Chapter from which they were received. If a Chapter Initiatives Fund is not utilized for a period of three years, then remaining funds shall be dispersed to the ACS General Fund.

How to Start a Chapter Initiative Fund

A Chapter Initiatives Fund may be started with an initial deposit of $500 and, once it reaches a principal balance of $2,000, the Chapter can request the Foundation to distribute the funds for appropriate initiatives. The Fund must always have a balance of at least $500.

To establish a Chapter Initiative Fund today, contact Shane Hollett, Executive Director, ACS Foundation, at shollett@facs.org, and Luke Moreau, Manager, Domestic Chapter Services, at lmoreau@facs.org.