Morris Animal Foundation has received a $423,950 cash infusion due to the dissolution of the American College of Veterinary Internal Medicine Foundation.
The ACVIM Foundation’s Board of Regents voted in December 2016 to terminate the fundraising arm because of “a lack of financial viability and an unsustainable business model,” according to a letter sent to more than 2,600 diplomates.
Among the issues was a drop in the number of ACVIM diplomates donating to the foundation — from 8 percent in 2010 to 4 percent in 2015-16.
“We chose to partner with Morris Animal Foundation because they are the pre-eminent leader in funding animal health discovery and we will be able to make a much larger impact with our donations utilizing their granting process than we could as a separate entity,” said ACVIM Foundation President Linda Fineman, DVM, DACVIM (Oncology). “We believe that partnering with Morris Animal Foundation is the best way to see execution on the ACVIM Foundation’s mission and, through a named fund at Morris Animal Foundation, we will continue to improve the health of animals worldwide.”
The cash transfer was reported Dec. 13 and includes more than $352,000 in restricted funds and $71,000 in unrestricted funds.
Morris Animal Foundation President John Reddington, DVM, Ph.D., said “the generosity of ACVIM members, and the impact of these funds on animal health, cannot be overstated.”
“We look forward to working collaboratively with ACVIM to use these funds in a manner that will best advance veterinary medicine and improve animal health and well-being,” Dr. Reddington said.
Morris Animal Foundation, headquartered in Denver, has awarded more than $100 million in research grants since 1948.