New Jersey Health Foundation Commits $2 Million to Fund Grants

NEW BRUNSWICK, N.J., Nov. 13, 2012 /PRNewswire-USNewswire/ -- New Jersey Health Foundation is pleased to announce it will award $2 million for the year ending June 30, 2013, through the New Jersey Health Annual Grants Program.

Through this program plus additional grants to faculty members and researchers at the University of Medicine and Dentistry of New Jersey (UMDNJ), the Foundation has awarded $54 million from its own Board-designated funds to support research, student scholarships and educational enrichment since the program began in 1974.

Sandra Brown Sherman, Esq., a partner in the law firm Riker, Danzig, Scherer, Hyland & Perretti LLP, and secretary of the Foundation's Board of Directors, is chair of the Annual Grants Program Committee.

"We are extremely proud that we have been able to provide such a significant amount of grant money to the University through our own board-designated funds, which are separate and apart from money that we have raised from donors," explained Ms. Sherman. "The continued awarding of grants through this program has allowed us to become the second largest donor to the University."

The grants, up to $35,000 each, provide seed and bridge funding for research projects and education programs throughout the University. 

At the current time, researchers affiliated with the University of Medicine and Dentistry of New Jersey (UMDNJ) are able to apply for funding.

"Our ability to sustain this program helps to further new and existing research and ideas that could lead to breakthrough medical discoveries," Ms. Sherman said.  "Prudent management of our investment portfolio has made this program possible and remains an important priority for us."

About New Jersey Health Foundation

New Jersey Health Foundation (www.njhf.org,) a not-for-profit public charity, is the parent company to the Foundation of UMDNJ (www.foundationofumdnj.org) and The Foundation for Healthcare Advancement, both of which solicit private sector support for the University of Medicine and Dentistry of New Jersey, and to Foundation Venture Capital Group, LLC,  (www.foundationventure.com) which makes private equity investments in start-up technology companies founded by researchers affiliated with the University.

SOURCE New Jersey Health Foundation