Banting Research Foundation endowment. A large bequest in 1948 from the estate of Kate E Taylor of Toronto added to the endowment. From its inception, the intent was to create a fund for researchers with "good ideas but no money", as was the situation for Banting when he approached JJR Macleod in 1921 with a request for facilities and resources to pursue his ideas about insulin. The Foundation continues that tradition by making grant funds available only to investigators whose research funding is limited. The Foundation was the first and virtually the only organization funding medical research in Canada until 1938 when the
Frederick Banting In 1923, the Canadian Parliament granted him a Life Annuity of $7,500. In 1928 Banting gave the Cameron Lecture in Edinburgh. He was a member of numerous medical academies and societies in Canada and abroad, including the British and American Physiological Societies, and the American Pharmacological Society. In 1934 he was knighted as a Knight Commander of the Order of the British Empire (KBE) and became an active Vice-President of the Diabetic Association (now Diabetes UK). In May, 1935 he was elected a Fellow of the Royal Society. In 2004, Banting was inducted into the National Inventors Hall of Fame.