Having the financial resources to implement your interest group programming is essential for success. Financial support for most FMIGs come from donations provided by the family medicine department at your school, Dean's office, student government, family medicine residency program, AAFP constituent chapter, and local medical societies, family physicians and local businesses.
Key steps to securing the financial future of your FMIG:
- Assign one faculty member and one student leader to oversee all of the financial resources of your club. Carefully track and report the club’s financial status to the faculty advisor and student leader each month.
- Develop a budget at the beginning of each year. When requesting funding, a carefully planned budget is usually expected. Meetings, dues, major projects and events, travel scholarships, banquets and advertising should all be considered. Individual events also require budgets.
- Identify the main sources of funding of your club and seek a commitment from them to continue their support at the same level or more as early as possible. Share your goals with potential funders and let them know how their support will help you achieve your goals and relate to their interests.
- Develop a bookkeeping system. If possible, establish a checking account at a local bank. You may wish to include a requirement for two signatures per check; one may be that of your faculty advisor. Another option is to arrange for a review of all expenditures with your faculty advisor.
- Be creative in thanking and recognizing those that give donations. Examples include holding a reception and dinner for those that provide financial resources and in kind support. Provide residency programs and other community supporters visibility on signage, Web sites and newsletters. Most importantly, students should call and write those that give support to say, “thank you.”
- Keep your primary sources of support close, especially the family medicine department, AAFP constituent chapter and dean’s office. Regularly apprise them of your plans and successes. Track attendance at meetings, evaluate member value of FMIG programming and carefully assess how your club is meeting its mission and goals.
Fundraising Activity Ideas
You can also raise money for your FMIG by holding fundraisers. FMIGs all over the country have had successful experiences with fundraising. Look for win-win opportunities, such as in kind support, from local banks, restaurants, and retail stores in exchange for conducting wellness and health education activities for employees or its customers. Other examples of successful fundraising activities are listed below.
- Sponsor a lab coat or anatomy glove sale
- Organize a 5K run
- Sell care packages and Valentine-grams to students
- Sell school bumper stickers or t-shirts
- Organize an auction or raffle-off donated medical texts and supplies
- Conduct community health and wellness fairs
- Hold a residency fair
- Organize a used book sale
