June 8, 2010 - 9:05am
Wahid Ali, chair of Vancouver Island University Foundation, is deeply grateful
to community members who responded to a special request for funding to support
the university’s endowment awards.
The awards are financed through interest raised on an endowment fund that now
tops $12 million. With the downturn in the economy through much of 2009,
endowment revenue dipped and there was a risk that the awards could not be
disbursed.
“We asked donors of the endowed funds if they could make a one-time donation to
continue the awards. $68,741 was raised to support over 100 awards,” said Ali.
“The response was fantastic. People recognize the challenges we face when there
is a slowdown in the economy. They filled a gap and our students are getting
much-needed support to achieve their goals.”
In 2008-09, annual donations to the VIU Foundation totaled $1,894,916 including
annual gifts, new endowment funds, and event revenue. The value of award,
bursaries and scholarships disbursed to 713 students amounted to $478,382.
The Foundation, founded in 1994, is the charitable arm of VIU, and raises close
to $2 million annually to support students with scholarships and bursaries, and
provide new teaching and learning equipment. The VIU Foundation endowment
reached $12.4 million in 2009.
The Foundation raises funds through special events such as the annual Christmas
Festival of Trees, spring Business Breakfast, an annual appeal, and promotion
of planned gifts and legacies. For further information, visit: viu.ca/giving,
call 250-740-6212 or email foundation@viu.ca
Tags: In the Community
