Resident & Fellow Grants

The Panacea Financial Foundation Resident and Fellow Grants program is administered by the Panacea Financial Foundation, a nonprofit organization established to support the advancement of medical professionals and improve healthcare outcomes. The foundation operates as part of Panacea Financial Holdings and is funded through a combination of organizational profits and philanthropic donations. Its mission centers on strengthening the pipeline of underrepresented physicians by offering financial and administrative support to trainees and organizations working to enhance diversity within the medical field. This grant opportunity is specifically designed to support residents and fellows who identify as underrepresented racial or ethnic minorities in medicine. The program aligns with the National Science Foundation definition of underrepresented groups, including African American or Black, Hispanic or Latino, Native American populations such as American Indian, Alaska Native, Native Hawaiian, and Pacific Islander individuals. By targeting these populations, the foundation aims to address systemic disparities in medical training and workforce representation while promoting equitable access to professional development resources. Each selected recipient receives a one-time award of 1000 dollars. Approximately twelve awards are distributed per funding cycle. The grant funds are flexible in their use and may be applied toward a range of professional and academic expenses. These include research activities, professional travel, membership fees for professional organizations, study materials, medical journals, board examination fees, and necessary equipment. Funds are disbursed via a single check made payable directly to the recipient and mailed to the home address provided in the application. Eligibility for the grant is clearly defined and includes several required criteria. Applicants must be United States citizens, permanent residents, or individuals with deferred action for childhood arrivals status. They must also be actively enrolled as residents or fellows in an Accreditation Council for Graduate Medical Education accredited training program. Additionally, applicants must meet the underrepresented minority definition outlined by the program. Certain individuals are explicitly excluded from eligibility, including employees of Panacea Financial, its affiliates, subsidiaries, advertising or promotion agencies, and their immediate family members. Previous recipients of the resident and fellow grant are not eligible to apply again, although unsuccessful applicants from prior cycles may reapply if they continue to meet eligibility requirements. The application process requires submission of specific documentation to verify eligibility and standing. Applicants must provide a letter from their program director or an associated program director confirming that they are in good standing within their residency or fellowship program. In addition, applicants must submit a photograph of their work or hospital identification badge. These materials are reviewed by a selection committee composed of members of the foundation board of directors and the executive director, excluding one named board member from participation in evaluation. The application timeline for the program follows a structured annual schedule. For the current cycle, applications open on June 10, 2026, and close on August 10, 2026. Following the review process, recipients are notified in October 2026, and grant funds are distributed in November 2026. The program operates on a recurring annual basis, though awards are limited to a single instance per recipient. The structured timeline ensures predictability for applicants while allowing sufficient time for evaluation and distribution of funds. The foundation provides general contact access for inquiries related to grants and scholarships, though specific contact details are not explicitly listed within the provided materials.