The entire health care ecosystem, and most importantly the communities we serve, have just been uplifted by the transformational generosity of Michael Bloomberg. His recently announced $1 billion gift to the Johns Hopkins University is obviously an incredible act of philanthropy. The beneficiaries of this generational gift are not only the students who will be able to pursue their medical education without the economic burden often associated with it, but also patients, families and communities across Baltimore, the state of Maryland and indeed, the nation.

As president and CEO of the University of Maryland Medical System, I am privileged to be in a unique position to appreciate the “halo effect” of this gift, and to have firsthand knowledge of the character and differential talent of the leadership team at Johns Hopkins Medicine. Dr. Ted DeWeese, dean of the Johns Hopkins University School of Medicine, and Kevin Sowers, president of the Johns Hopkins Health System, are exactly the right leaders to steward the resources that will ensure students across the socioeconomic spectrum gain opportunities to be educated at this internationally recognized institution of higher education.

In the letter announcing the gift, Bloomberg cited compelling reasons for his action, including a desire to address the nation’s shortage of health care professionals and his goal of opening up educational opportunities to families with limited means. This gift will undoubtedly affect all the areas Bloomberg is focused on, and it will do so much more.

Providing unfettered access to the highest quality health care, defining the cures of tomorrow while providing care today and educating the future health care workforce are the fundamental reasons that we exist as academic institutions. The pursuit of this mission is only possible through philanthropic support from those who fervently believe that to achieve one’s best health is a foundational demonstration of equality, opportunity, prosperity and the core principles of our nation’s promise.

Bloomberg has reminded us all that active giving pays dividends for generations. While one day we will no longer hold our roles and responsibilities, legacies such as this endure. As a community, we are incredibly grateful.

Mohan Suntha, MD, MBA, is the president and CEO of the University of Maryland Medical System.