These medals were on key chains.  They were given out to people who were either members of the Will Rogers Institute or who had donated generously to the Will Rogers Hospital and the O'Donnell Research Laboratories.  

Leslie Hoffman CollectionLeslie Hoffman Collection

The older one's back reads:

For Meritorious Service to the Amusement Industry's Will Rogers Memorial Hospital and Research Laboratories Saranac Lake, NY 1957-58

Later ones had serial numbers on the back that if lost they could be mailed back to the Will Rogers Institute and then returned to its owner.