ADMC Memorial Foundation Scholarship Program

The purpose of ADMC Memorial Foundation is to educate, aid and support entrepreneurial dentists and their practices to overcome obstacles, implement systems, and provide guidance by connecting them with the appropriate resources.

About the Scholarship

This scholarship is exclusively designed for educational purposes within the meaning of Section 501(c)(6) of the Internal Revenue Code, or the corresponding section of any future federal tax code.

The scholarship is intended to support dentists who are initiative-taking to succeed in business and whom the award will have significant impact both professionally and financially.

Recipients will be chosen by the Scholarship Committee within the ADMC Memorial Foundation and are subject to final approval by the ADMC Memorial Foundation’s Board of Directors. The decision of the Board is final with respect to the selecon of scholarship recipients.

To maximize our impact, we will be collaborating with the members of the Academy of Dental Management Consultants (ADMC) to exclusively provide consulting services.

Upon submission, all applications and supporting documentation become the property of the ADMC Memorial Foundation.

Who Can Apply?

We actively seek to award the ADMC Memorial Scholarship funds to a dentist from a wide range of backgrounds, experiences, and gender, age, race, and ethnicity. We are committed to fair and equitable access and opportunity for all. Applicants must meet the criteria listed in the Application Criteria section (below).

Awards

Awards vary depending on the amount of funding available, the pool of candidates applying, and the strength of a candidate’s application. There will be at least one winner from the categories below.

The maximum award amount is $10,000 which will be used to engage a consultant for their time and experience. The ADMC Memorial Foundation will provide a list of consultants from the Academy of Dental Management Consultants who have been selected to best match their professional goals and objectives. The winner will have an opportunity to interview each consultant prior to selection. (Refer to Use of Scholarship Funds for more details)

Application Criteria

The financial cost of becoming a dentist-owner can be daunting. Dentists often enter the profession with sizable student loan debt and do not have the financial resources for consulting services which are invaluable to their success. Scholarship applicants must meet 100% of the following criteria:

  • Owner dentist must be within 3-6 years post-graduation from dental school
  • Owner dentist may not currently own a percentage of, or having a substantial interest in, an additional practice(s)
  • Practice must be located in the United States
  • Practice must be 100% owned by a dentist
  • Practice must have a single office location
  • Practice must be under $1.5-million in revenue (collections)
  • Owner dentist must be working with an accountant
  • Owner dentist must have a commitment to compliance with HIPAA, OSHA, dental board, employment laws, and other applicable regulations

Application Submissions

  1. Letter of intent: This letter should be 250 to 1,000 words covering the following questions.
    1. Why are you interested in the scholarship?
    2. Please provide your background and journey into dentistry and practice ownership.
      1. Dental school
      2. Business education courses
      3. GPR/AEGD
      4. Notable work experience or mentorship
  2. Completed and signed application and scholarship agreement
  3. Professional Inventory Questionnaire
  4. Practice Monitor
  5. Two letters of recommendation from dental professionals (educator, employer, colleague, mentor, etc). The letter of recommendation should address the applicant’s professional qualities, career development goals, and mentorship activities.
  6. All scholarship materials must be submitted to info@admcscholarship.org by April 30, 2023. Submissions received after this date will not be accepted.
Download Application Practice Monitor

Use of Scholarship Funds

This scholarship award may be used to cover consulting and training fees. The ADMC Memorial Foundation will pay awarded scholarship funds directly to the ADMC consultant the scholarship recipient elects to engage.

The ADMC Memorial Foundation will provide a selection of veed consultants who are qualified to provide advisory or training services that address the needs of the scholarship recipient. The choice of which consultant to engage for the use of scholarship funds is ultimately made by the scholarship recipient.

Any additional agreements beyond the scholarship engagement will be between the scholarship recipient and the selected consultant. The scholarship recipient will be personally responsible for any additional fees for travel or additional expenses incurred by the consultant.

 

Code of Conduct

Application Deadlines

All application materials must be submitted in one email (either as one PDF attachment or as multiple attachments to one email). The application, responses to questions, and letters of recommendation must be typed. Handwritten materials will not be accepted other than the signature if you are unable to sign electronically. Incomplete applications will not be considered.

All scholarship materials must be submitted to info@admcscholarship.org by April 30, 2023. Submissions received after this date will not be accepted.

Recipient Announcement

The awards committee will carefully evaluate each application to see which candidate is most suited for their scholarship award.

The winner(s) of the scholarship will be announced after April 30, 2023.