For the Dimayuga family, helping under-resourced students is more than charity work. It’s a tradition that they want to pass onto future generations.
Through the Rodolfo and Milagros Dimayuga Memorial Foundation Inc. (RMDMF), the family has been providing support to healthcare students for almost 17 years now. Aside from being a philanthropic practice, it is the family’s way of paying tribute to their late matriarch and patriarch, who were both healthcare professionals (Milagros, a pharmacist by training, and Rodolfo, an orthopedic surgeon).
“Working towards a common goal that was close to the hearts of our parents, more so that there is now active involvement of the third generation of the family in the Foundation, has likewise given further opportunities for intergenerational interactions,” Jose Gabino “Jobi” Dimayuga, the vice president of the foundation, shared.
A 2018 study by U.S.-based charity group Fidelity Charitable suggests that “philanthropy can be a powerful way for families to pass along their shared beliefs and values.” It can also “provide unique opportunities for families to spend time together, collaborate, and learn more about one another.”
The study said 81% of its respondents who grew up with strong giving traditions described their core family as very close. This is also how 33% of respondents who grew up with strong giving traditions described their extended family.
“Although the presence of a fourth generation is still far from coming to a reality, the brothers are intent on keeping the tradition of giving alive through the active participation of each subsequent generation as soon as they are able,” Dimayuga, the former executive vice president of the Development Bank of the Philippines, said.
In 2018, the foundation found a strong ally in fulfilling its mission when it partnered with InvestEd.
Back then, there was already a barrage of problems hounding the country’s healthcare industry. Fast-forward to 2020, the world saw healthcare workers at the forefront of the battle against the COVID-19 virus, which has affected millions of individuals in the Philippines alone. The crisis brought a conundrum to the healthcare industry, and even gave rise to new issues in the sector — medical workers leaving their jobs as they cry for more support and benefits, among many others.
Yet despite these, RMDMF’s hope remained high in fulfilling its mission. In 2020, the foundation renewed its partnership with InvestEd through another loan, in hopes of helping boost the country’s pool of future frontliners.
“We have found a perfect alignment between the objectives of the foundation and that of InvestEd,” Dimayuga said. “It is for this reason that we have not only continued, but further expanded our collaborative efforts over the past four years.” At present, Jobi sits as part of InvestEd’s Board of Directors.
“We recognize the crucial role that our health workers play in this pandemic, so we want to help in securing the supply of frontliners for the future. Through our financing programs, we want to make sure that medical students have the financial and psychological support they need to reach the frontline,” InvestEd CEO and Co-founder Carmina Bayombong said.
Since its establishment, InvestEd has provided loans to thousands of students from low-income and poor households – providing them with capital for tuition fee, living expenses, and even gadgets for distance learning. To date 309 of its Investees are taking up health-allied courses such as medicine, pharmacy, medical technology, and psychology, to name a few.
The renewed partnership is also a testament to the growing support that InvestEd has continued to receive from impact-oriented investors, like the RMDMF, who are at the backbone of the company’s operations.
“The Dimayuga family is proof that philanthropic activities can be a household trait. We are glad to continue our alliance with the Rodolfo and Milagros Dimayuga Memorial Foundation Inc. at a time when it is needed the most. This proves that we are not alone in our mission to empower young dreamers,” Bayombong said.
A globally-awarded social enterprise, InvestEd partners with individuals and institutions to finance the education of unbanked learners. Since its inception, the organization has raised over P125 million in capital from funders who seek to invest in education or build on specialized lending programs together with InvestEd; partners include family foundations, high net-worth individuals and impact funds. To date, InvestEd has helped thousands of low-income Filipino youth from about 400 schools increase their income and navigate success in a fast-changing world. If you would like to partner with the organization or start a fund for education, please contact capital@invested.ph
Incorporated on October 18, 2006 in honor of the Dimayuga brothers’ parents, the Foundation seeks to support educational activities primarily through the extension of partial financial assistance to qualified, deserving and talented but financially-handicapped students enrolled in health-allied courses. The choice of focusing its assistance to the health sector is in tribute to the fact that both parents were healthcare professionals, with Milagros being a pharmacist by training, and Rodolfo, an orthopedic surgeon. In celebration of the 100th year birth anniversary of the Rodolfo in 2021, the Foundation hit the milestone of financially assisting more than 100 students receive a college education.