SICOT e-Newsletter
Issue No. 50 - November 2012
Editorial by John Dormans
SICOT Vice President North America
A Report on the SICOT Foundation
The SICOT Foundation was established in 1990 to manage and distribute funds donated for the purpose of supporting SICOTâs research and educational missions. It is incorporated in the United States, designated by the US Internal Revenue Service as a 501 (c)(3) private non-profit organization, and registered as a charitable trust in the State of New Hampshire. Donations are made by organizations and individuals wanting to contribute to the societyâs scientific endeavours, and fund multiple programmes and awards designed to promote international training and global unity among orthopaedic surgeons. Since its inception, the Foundation has undergone significant reorganization and collaboration, further supporting this group in its endeavours.
A policies and procedures manual specific to the SICOT Foundation has been created to organize and maintain information relevant to the group, including bylaws, articles of agreement, meeting minutes, awards/fellowships and financial statements. This manual is updated regularly and will serve as a reference point for the Foundation as it continues to grow. Additionally, the central location of the SICOT Foundation checking account has been transferred recently from the Royal Bank of Canada in Montreal, Canada, where Denise Duhaime served as signer to the Kennebunk Savings Bank in Portsmouth, New Hampshire, maintained by Stephen H. Roberts, Esq. of the Hoefle, Phoenix, Gormley & Roberts, P.A firm. All funds maintained in Montreal will be transferred to the Portsmouth account.
The SICOT Foundation continues to collaborate with prominent orthopaedic groups with the aim of promoting educational opportunities and fundraising. The Foundation established an international partnership with the Orthopaedic Research and Education Foundation (OREF) in 1998. More recently, however, OREF has been exploring different methods interacting with their partners with the chief goal of making it easier to donate and access money. Donors can give to SICOT through the OREF in one of two ways: 1) through an endowment fund, in which 5% of the allotted donation is given to SICOT at the beginning of the year, but outstanding funds do not roll over into the next year if not utilized or; 2) through designated giving, in which $500 of the donated contribution is directed to OREF and SICOT can withdraw the non-invested money at any time.
Board members of both the SICOT Foundation and the American Academy of Orthopaedic Surgeons (AAOS) met during the SICOT 2011 XXV Triennial World Congress in Prague, Czech Republic, to discuss ways to further promote educational activities at an international level. Discussion included the broadcast of webinars and video teleconferences with the intent to not only deliver live content but to also archive and disseminate these recorded sessions globally. Additionally, two new joint SICOT/AAOS scholarships have been instituted to provide free registration and travel expenses up to EUR 500 for the AAOS Annual Meeting to SICOT-selected scholarship recipients. Eligible candidates are comprised of the winners of the best oral and poster presentations awarded at the annual SICOT meeting.
Generous donations provided by both orthopaedic groups/societies and individuals have permitted the establishment of new fellowships and awards. Contributions made by the Scoliosis Research Society (SRS) will reimburse young spine surgeons up to USD 5,000 to attend SRS/SICOT meetings. Details about other awards/fellowships funded through the SICOT Foundation and SICOT International can be found on the SICOT website.
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