Memorandum of Understanding
The Division of Pathology
The University of Edinburgh
The Dr. Kathryn McLaren Endowment Fund
The Dr. Kathryn McLaren Prize In Pathology
The Dr Kathryn McLaren Endowment Fund and The Dr McLaren Prize in Pathology
MEMORANDUM OF UNDERSTANDING
This document constitutes a Memorandum of Understanding between The Cummings Family (The
Donors) and The University of Edinburgh (The University), to establish an endowment to fund a
prize for students in Medicine within the subject area of Pathology (The Subject Area) at The
University. The Fund has been established by the family of Dr. Kathryn McLaren in her memory.
The endowment and prize will be respectively known as The Dr. Kathryn McLaren Endowment
Fund (The Fund) and The Dr. Kathryn McLaren Prize in Pathology (The Prize).
CREATION OF ENDOWMENT FUND
The Fund has been created from a gift of £20,000 (Twenty Thousand Pounds) by the Donors as
beneficiaries of Dr. Kathryn McLaren’s estate and has been made available to The University of
Edinburgh Development Trust (The Trust) to establish the endowment.
Use of Endowment Funds
The Fund will be used to provide financial assistance in the form of an annual prize to at least one
undergraduate student, preferably second year, based upon the best overall performance by a
student as decided by the Head of Subject. Should the University change its courses or subjects,
the Prize will be awarded in the area which most closely relates to The Subject Area.
CONDITIONS & VALUE OF PRIZE
The Prize will be open to at least one undergraduate student, preferably second year, in The
Subject Area and will be approximately £800 per year, but this amount may vary.
MANAGEMENT OF THE ENDOWED FUND
The Trust will manage The Fund on behalf of The Subject Area at The University. The Fund is to
be invested in a manner consistent to the stewardship of other endowments held on behalf of The
University and managed by The Trust. The capital of The Fund is to be maintained to provide
annual yields to fund The Prize. Annual yields not used for payment of The Prize are to be re-
invested in The Fund.
If at any point in future the yield of The Fund falls below that of the standard award made centrally
by the University, capital may be used to ‘top up’ The Prize. In such circumstances, and prior to
any use of capital, named persons have to be informed (see Future Management below)
PRIZE SELECTION AND PAYMENT PROCEDURE
The Head of The Subject Area will manage The Prize. The Subject Area will receive all
applications, manage the selection process and announce the recipients of The Prize. The Prize
will be decided on the basis of performance as decided by the Head of The Subject Area.
The University will aim to award one Prize per annum. If no suitable candidate is selected for The
The Drin any given academic year, The PrizeThe Dr McLaren Prize in Pathology
Prize Kathryn McLaren Endowment Fund and will be carried forward to a subsequent year and
distributed only when a suitable student is identified. In such circumstances, and funds allowing, it
may be possible for more than one Prize to be made in an academic year.
Payment of The Prize will be made at the end of each academic year by The Subject Area.
The University, in accordance with data protection regulations, may seek permission from
each recipient of The Prize to release their name in advance to The Donors and use details
of their name and course of study for internal and external promotional materials.
FUTURE MANAGEMENT OF AWARD
The above is recorded for the benefit of both parties to the agreement and will be used as
guidelines and information as to the operation of The Prize. Any alteration to this agreement will
be made in writing by The University and The Donors.
Alison Cummings Date
Director of Development Date
Heather Wallace Date
Stewardship Development Manager