Civic Intelligence

National Medical Fellowships Inc

EIN 01-0963657 • 501(c)3 • Alexandria, VA

Profile

The mission of national medical fellowships, inc. ("nmf") is to broaden the pathways to medical education for students from communities underrepresented in medicine, provide transformative leadership opportunities that help to diversify clinical research, and deliver programs and supports to ensure the future success of medical students and current practitioners.

1199 North Fairfax Street 600Alexandria, VA 22314-1483

www.nmfonline.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

69th percentile

0.32x

Higher debt load relative to assets than 69% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

77th percentile

0.56x

Higher debt load relative to revenue than 77% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

4th percentile

-80%

Higher net margin than 4% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

94th percentile

$460,295

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 8.1% of source-year revenue.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

4th percentile

-33%

Faster asset growth than 4% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

45th percentile

4.8%

Faster revenue growth than 45% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Down

$9,806,648

Down $4,794,042 (-33%) from 2023

Liabilities

Down

$3,167,711

Down $193,480 (-5.8%) from 2023

Net Assets

Down

$6,638,937

Down $4,600,562 (-41%) from 2023

Revenue

Up

$5,702,310

Up $261,108 (+4.8%) from 2023

Expenses

Up

$10,256,054

Up $2,104,918 (+26%) from 2023

Net Income

Down

-$4,553,744

Down $1,843,810 (-68%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$20M$15M$10M$5.0M$0Assets 2011: $3,130,021Liabilities 2011: $618,946Net Assets 2011: $2,511,0752011Assets 2012: $7,836,022Liabilities 2012: $487,700Net Assets 2012: $7,348,3222012Assets 2013: $5,734,973Liabilities 2013: $434,735Net Assets 2013: $5,300,2382013Assets 2014: $4,100,698Liabilities 2014: $436,089Net Assets 2014: $3,664,6092014Assets 2015: $2,793,817Liabilities 2015: $459,712Net Assets 2015: $2,334,1052015Assets 2016: $2,804,602Liabilities 2016: $733,560Net Assets 2016: $2,071,0422016Assets 2017: $2,446,218Liabilities 2017: $672,810Net Assets 2017: $1,773,4082017Assets 2018: $2,277,872Liabilities 2018: $857,354Net Assets 2018: $1,420,5182018Assets 2019: $4,024,778Liabilities 2019: $842,579Net Assets 2019: $3,182,1992019Assets 2020: $4,985,532Liabilities 2020: $1,876,463Net Assets 2020: $3,109,0692020Assets 2021: $7,616,684Liabilities 2021: $2,969,644Net Assets 2021: $4,647,0402021Assets 2022: $16,882,584Liabilities 2022: $2,943,570Net Assets 2022: $13,939,0142022Assets 2023: $14,600,690Liabilities 2023: $3,361,191Net Assets 2023: $11,239,4992023Assets 2024: $9,806,648Liabilities 2024: $3,167,711Net Assets 2024: $6,638,9372024

Highlighted filing

2024

Assets$9,806,648
Liabilities$3,167,711
Net Assets$6,638,937

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$20M$10M$0-$10MRevenue 2011: $3,498,255Expenses 2011: $1,615,043Net Income 2011: $1,883,2122011Revenue 2012: $7,305,017Expenses 2012: $2,468,344Net Income 2012: $4,836,6732012Revenue 2013: $1,199,321Expenses 2013: $3,247,967Net Income 2013: -$2,048,6462013Revenue 2014: $2,164,603Expenses 2014: $3,799,828Net Income 2014: -$1,635,2252014Revenue 2015: $2,906,092Expenses 2015: $4,236,167Net Income 2015: -$1,330,0752015Revenue 2016: $3,370,240Expenses 2016: $3,633,998Net Income 2016: -$263,7582016Revenue 2017: $3,373,848Expenses 2017: $3,670,745Net Income 2017: -$296,8972017Revenue 2018: $3,628,663Expenses 2018: $3,957,357Net Income 2018: -$328,6942018Revenue 2019: $5,565,523Expenses 2019: $3,845,726Net Income 2019: $1,719,7972019Revenue 2020: $3,575,737Expenses 2020: $3,651,691Net Income 2020: -$75,9542020Revenue 2021: $5,946,697Expenses 2021: $4,384,821Net Income 2021: $1,561,8762021Revenue 2022: $17,808,122Expenses 2022: $7,780,634Net Income 2022: $10,027,4882022Revenue 2023: $5,441,202Expenses 2023: $8,151,136Net Income 2023: -$2,709,9342023Revenue 2024: $5,702,310Expenses 2024: $10,256,054Net Income 2024: -$4,553,7442024

Highlighted filing

2024

Revenue$5,702,310
Expenses$10,256,054
Net Income-$4,553,744

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.81$3.17$6.64$5.70$10.3$4.55
2023Detailed filing. Detailed filing data is available for this year.$14.6$3.36$11.2$5.44$8.15$2.71
2022Detailed filing. Detailed filing data is available for this year.$16.9$2.94$13.9$17.8$7.78$10.0
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.62$2.97$4.65$5.95$4.38$1.56
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.99$1.88$3.11$3.58$3.65$0.08
2019Detailed filing. Detailed filing data is available for this year.$4.02$0.84$3.18$5.57$3.85$1.72
2018Detailed filing. Detailed filing data is available for this year.$2.28$0.86$1.42$3.63$3.96$0.33
2017Summary only. Only limited summary data is available for this year.$2.45$0.67$1.77$3.37$3.67$0.30
2016Summary only. Only limited summary data is available for this year.$2.80$0.73$2.07$3.37$3.63$0.26
2015Summary only. Only limited summary data is available for this year.$2.79$0.46$2.33$2.91$4.24$1.33
2014Summary only. Only limited summary data is available for this year.$4.10$0.44$3.66$2.16$3.80$1.64
2013Summary only. Only limited summary data is available for this year.$5.73$0.43$5.30$1.20$3.25$2.05
2012Summary only. Only limited summary data is available for this year.$7.84$0.49$7.35$7.31$2.47$4.84
2011Summary only. Only limited summary data is available for this year.$3.13$0.62$2.51$3.50$1.62$1.88
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2023 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jul 18, 2024
Return Version
2023v5.1
Gross Receipts
$5,441,202
Mission and Program Overview

Mission

The mission of National Medical Fellowships, Inc. (NMF) is to provide scholarships and support for underrepresented minority students in medicine and the health professions. NMF envisions a diverse healthcare workforce which will have the leadership, commitment, and cultural competency to achieve health equity.

Scholarships/clinical research training to underrepresented medical students & practitioners.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$733,769$11,754,207▲ $11,020,438
Savings and Temporary Cash Investments$5,458,124$0▼ $5,458,124
Pledges and Grants Receivable$662,895$1,265,321▲ $602,426
Cash and Non-Interest-Bearing Accounts$9,501,403$1,186,739▼ $8,314,664
Prepaid Expenses and Deferred Charges$133,673$93,867▼ $39,806
Land, Buildings, and Equipment, Net$22,006$13,017▼ $8,989
Total Assets$16,882,584$14,600,690▼ $2,281,894
Other Assets Total$370,714$287,539▼ $83,175
Liabilities
Deferred Revenue$1,718,976$2,549,224▲ $830,248
Accounts Payable and Accrued Expenses$853,880$506,050▼ $347,830
Other Liabilities$370,714$305,917▼ $64,797
Total Liabilities$2,943,570$3,361,191▲ $417,621
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$11,089,617$7,966,804▼ $3,122,813
Net Assets With Donor Restrictions$2,849,397$3,272,695▲ $423,298
Total Net Assets Fund Balance$13,939,014$11,239,499▼ $2,699,515
Total Liabilities and Net Assets / Fund Balance$16,882,584$14,600,690▼ $2,281,894

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$13,017$55,799$68,816

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$673,835$60,339▲ $61,765-$795,939
2022$769,182$125,000▼ $95,597$124,750$673,835
2021$2,463,870$2,166,714▲ $34,591$3,895,993$769,182
2020$2,985,394$803,206-$1,324,730$2,463,870
2019$1,229,775$2,732,796-$977,177$2,985,394
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Michellene DavisPresident & CEOFT$390,835$101,719$492,554
Tracey J NewmanAssistant VP, Global Programs & Diversity in CliniFT$222,833$5,522$228,355
Tracey J NewmanAssistant VP, Global Programs & Dive-$222,524$5,831$228,355
Carlos F ColonVP, Finance and OperationsFT$194,646$7,033$201,679
Laveina a DashDirector, Diversity in Clinical ResearchFT$169,228$17,118$186,346
Laveina a DashDirector, Diversity in Clinical Rese-$168,893$17,453$186,346
Brian M RahmerSenior Impact Policy Advisor, Special Assistant toFT$176,100$9,841$185,941
Brian M RahmerSenior Impact Policy Advisor, Specia-$175,949$9,992$185,941
Christy Law BlanchardAssistant VP, Strategic CommunicationsFT$158,605$10,255$168,860
Christy Law BlanchardAssistant VP, Strategic Communicatio-$158,313$10,547$168,860

Highest Paid Contractors

ContractorServicesLocationCompensation
Kaufman Dolowich LLPLegal135 CROSSWAYS DRIVE SUITE 201, Woodbury, NY 11797$118,305
Your Part-time Controller LLCAccounting1500 WALNUT STREET SUITE 1200, Philadelphia, PA 19102$117,211
Revenue and Support

Revenue Composition

Contributions and Grants
$4,893,938
Program Service Revenue
$0
Investment Income
$547,264
Other Revenue
$0
All Other Contributions
$4,893,938
Change in Net Assets
$-2,709,934

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded1$70,396Fair Market Value (FMV)
Total Noncash Contributions1$70,396-

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,441,202
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$10,419
Total Revenue per Audited Statements
$5,451,621
Total Revenue per Form 990
$5,441,202
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,407,354
Grants and Similar Amounts Paid$2,552,898
Other Expenses$2,190,884
Total Fundraising Expense$967,313
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$2,552,898--$2,552,898
Other Salaries and Wages$1,218,949$734,968$326,872$2,280,789
Fees for Services Other$401,199$359,856$224,454$985,509
Current Officers, Directors, Trustees, and Key Employees$351,773$212,051$94,311$658,135
Payroll Taxes$186,974$112,730$50,137$349,841
Travel$80,700$119,056$38,510$238,266
Fees for Services Legal$66,893$60,002$37,424$164,319
Office Expenses$17,568$71,846$62,420$151,834
Fees for Services Accounting$61,294$54,977$34,291$150,562
Occupancy$26,606$43,526$18,452$88,584
Advertising$22,592$40,112$13,698$76,402
Pension Plan Contributions$35,129$21,180$9,421$65,730
Other Employee Benefits$28,251$17,033$7,575$52,859
Information Technology$15,155$25,423$10,877$51,455
Insurance$6,605$10,677$4,586$21,868
Other Expenses$3,233$7,488$2,244$12,965
Depreciation Depletion$2,717$4,387$1,885$8,989
Total Functional Expenses$5,153,611$2,030,212$967,313$8,151,136

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$8,151,136
Total Expenses per Audited Statements$8,151,136
Total Expenses per Form 990$8,151,136
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Rakia ReynoldsBoard MemberThe Board Member Is the Sole Owner of Skaiblue Media Which Provides Public Relations and Marketing Services to the Organization.skai Blue Media Was Selected Through a Competitive Process a Year Prior to Rakia Reynolds Joining the Board.No$89,505
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Right of Use Liability$305,917
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

National medical fellowship has a contract with a professional employer organization (peo) who works on behalf of nmf to manage human resource management, employee benefits, compliance, paryoll and retirement plans, as well as critical human resources functions.

Form 990, Part VI, Section B, Line 11B

The form 990 is initially reviewed by the vp of finance and operations, then forwarded to the president & ceo. Once approved by management, the vp of finance and operations will present the form 990 to the treasuser of the board who will subsquently present the form with the vp of finance and opeartions to the executive committee. After the executive committee's approval, the form 990 will be presented to the board of directors for final review and approval. A copy of the approved draft will be provided to each director prior to the scheduled board meeting.

Form 990, Part VI, Section B, Line 12C

The conflict of interest policy forms are signed annually by the members of the board and reviewed by management for any conflicts.

Form 990, Part VI, Section B, Line 15

The compensation committee of the board of directors makes recommendations to the independent directors with respect to the reasonable compensation of the organization's chief executive officer ("ceo"). The compensation committee also reviews and approves the reasonable compensation of other managers, employees and any other person(s) who are in a position to exercise substantial influence over the affairs of the organization.

Form 990, Part VI, Section C, Line 19

Nmf does not make its governing documents or conflict of interest policy available to the public. The financial statements and form 990 are made available on nmf's website.

Filing and Contact Details

Filer

Filer Name
National Medical Fellowships Inc
EIN
01-0963657
Phone
2124838880
Address
1199 NORTH FAIRFAX STREET 600, ALEXANDRIA, VA 22314-1483

Signing Officer

Name
Michellene Davis
Title
President & CEO
Phone
2124838880
Signed
2024-07-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michellene Davis
Formed
1946
Legal Domicile
Ny
Voting Board Members
17
Independent Board Members
16
Employees
37
Volunteers
16

Preparer

Firm
Pbmares Llp
Address
12150 MONUMENT DRIVE SUITE 350, FAIRFAX, VA 22033
Preparer
Edward T Yoder CPA
Phone
7033858577
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Consultants and other fees: program service expenses 401,199. Management and general expenses 359,856. Fundraising expenses 224,454. Total expenses 985,509.

FORM 990, PART XII, LINE 2C:

The review process has not changed from the prior year.

Sch G - Fundraising

The board permitted the organization to pause fundraising events in order to address investment in institutional infrastructure for sustainability.

Financial Statement Notes

PART X, LINE 2:

The organization is exempt from federal income tax under section 501(c)(3) of the internal revenue code. The organization has adopted the provisions of accounting for uncertainty in income tax positions as required by income taxes (topic 740) of the fasb accounting standards codification (asc); however, management does not believe it is exposed to any such positions as defined in this guidance, nor do they expect this to change significantly over the next 12 months. The organization files form 990, return of organization exempt from income tax, annually with the united states department of the treasury. Such returns are subject to examination by taxing authorities, generally for a period of three years from the date the returns are filed.

Raw XML AppendixShowing 400 of 770 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/AccountsPayableAccrExpnssGrp/BOYAmt0853880
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt0506050
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0SCHOLARSHIPS/CLINICAL RESEARCH TRAINING TO UNDERREPRESENTED MEDICAL STUDENTS & PRACTITIONERS.
IRS990/AdvertisingGrp/FundraisingAmt013698
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IRS990/CYRevenuesLessExpensesAmt0-2709934
IRS990/CYSalariesCompEmpBnftPaidAmt03407354
IRS990/CYTotalExpensesAmt08151136
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IRS990/DepreciationDepletionGrp/TotalAmt08989
IRS990/Desc0SERVICE LEARNING PROGRAMS - THE NMF SERVICE-LEARNING PROGRAMS PROVIDE SPECIAL OPPORTUNITIES FOR STUDENTS TO WORK HANDS-ON TO ENHANCE HEALTHCARE DELIVERY IN UNDERREPRESENTED COMMUNITIES. THESE PROGRAMS MATCH STUDENTS WITH MENTORS, OFTEN EMINENT NMF ALUMNI, AND FOCUS ON AREAS OF CRITICAL CLINICAL/PUBLIC HEALTH NEEDS.
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IRS990/Form990PartVIISectionAGrp/PersonNm5CARMEN SACHIKO VILLAR
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IRS990/Form990PartVIISectionAGrp/PersonNm7CEDRIC M BRIGHT
IRS990/Form990PartVIISectionAGrp/PersonNm8LARRY J HARRISON
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IRS990/Form990PartVIISectionAGrp/PersonNm18TRACEY J NEWMAN
IRS990/Form990PartVIISectionAGrp/PersonNm19BRIAN M RAHMER
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IRS990/Form990PartVIISectionAGrp/PersonNm21CHRISTY LAW BLANCHARD
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IRS990/Form990PartVIISectionAGrp/TitleTxt14MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt17VP, FINANCE AND OPERATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt18ASSISTANT VP, GLOBAL PROGRAMS & DIVERSITY IN CLINI
IRS990/Form990PartVIISectionAGrp/TitleTxt19SENIOR IMPACT POLICY ADVISOR, SPECIAL ASSISTANT TO
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR, DIVERSITY IN CLINICAL RESEARCH
IRS990/Form990PartVIISectionAGrp/TitleTxt21ASSISTANT VP, STRATEGIC COMMUNICATIONS
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IRS990/MissionDesc0THE MISSION OF NATIONAL MEDICAL FELLOWSHIPS, INC. ("NMF") IS TO BROADEN THE PATHWAYS TO MEDICAL EDUCATION FOR STUDENTS FROM COMMUNITIES UNDERREPRESENTED IN MEDICINE, PROVIDE TRANSFORMATIVE LEADERSHIP OPPORTUNITIES THAT HELP TO DIVERSIFY CLINICAL RESEARCH, AND DELIVER PROGRAMS AND SUPPORTS TO ENSURE THE FUTURE SUCCESS OF MEDICAL STUDENTS AND CURRENT PRACTITIONERS.
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IRS990/ProgSrvcAccomActy2Grp/Desc0POST-GRADUATE PROGRAMS - NMF'S POST GRADUATE PROGRAMS PURSUE THE GOAL TO BECOME A LEADER IN THE NATIONAL EFFORT TO INCREASE DIVERSITY IN CLINICAL TRIAL RESEARCH IN FURTHERANCE OF THE ELIMINATION OF HEALTH CARE DISPARITIES. ESTABLISHED IN 2021, THE NATIONAL MEDICAL FELLOWSHIPS DIVERSITY IN CLINICAL TRIALS RESEARCH PROGRAM SEEKS TO INCREASE THE NUMBER OF CLINICIANS UNDERREPRESENTED IN MEDICINE WHO SERVE AS PRINCIPAL INVESTIGATORS, AS PART OF THE STRATEGY TO INCREASE PATIENT DIVERSITY IN CLINICAL RESEARCH TRIALS.
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IRS990/ProgSrvcAccomActy3Grp/Desc0SCHOLARSHIPS AND AWARDS - NMF'S SCHOLARSHIPS AND AWARDS HAVE BEEN AT THE CORE OF ITS PROGRAMMING. NMF SCHOLARSHIP PROGRAMS RECOGNIZE MERIT AS WELL AS FINANCIAL NEED. OVER THE YEARS, FUNDING FOR SCHOLARSHIPS HAS COME FROM INDIVIDUALS, FOUNDATIONS, AND CORPORATIONS. NMF ACTIVELY SEEKS AND WELCOMES PARTNERSHIPS TO BUILD AND EXPAND THE TYPES AND AMOUNT OF SUPPORT WE PROVIDE TO OUR SCHOLARS.
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IRS990/ProgSrvcAccomActy3Grp/GrantAmt01058148
IRS990/ProgSrvcAccomActyOtherGrp/Desc0PUBLIC INFORMATION AND ALUMNI RELATIONS - NMF PROVIDES SCHOLARSHIP INFORMATION TO STUDENTS AND ACADEMIC INSTITUTIONS AND COMMUNICATES THE CRITICAL NEED FOR INCREASING THE NUMBER OF MINORITY PROFESSIONALS IN HEALTHCARE. NMF ALSO COORDINATES AND ORGANIZES VOLUNTEER AND COMMUNITY SERVICE OPPORTUNITIES TO PROMOTE PUBLIC AWARENESS ABOUT ITS PROGRAMS. IN ADDITION, WITH THE SUPPORT OF ALMUNI, FRIENDS, AND PARTNERS, NMF IS BUILDING A ROBUST ALMUNI NETWORK. THROUGH NMF ALMUNI-SPONSORED EVENTS AND OTHER ACTIVITIES, THIS NETWORK IS BEING BROUGHT INTO ACTIVE PARTNERSHIP WITH NMF TO STRENGTHEN AND EXPAND PROGRAMS, SUPPORT REGIONAL GALAS, AND PROVIDE FINANCIAL SUPPORT FOR THE ORGANIZATION.
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