April 10, 2006 - 5:00pm
Post-secondary students face many challenges including rising tuition fees and higher living expenses, but Malaspina University-College Foundation is leading the charge to ease their financial burden.
At Tuesday’s 10th Annual Business Breakfast, attended by more than 280 community and business leaders, the Foundation unveiled a new fundraising campaign called Key to Success.
Working with employers, community groups and individuals, the Foundation hopes to create new $500 annual awards for deserving students.
"It’s our mission to encourage as many students as possible to achieve their dreams and goals," said Foundation Director Ron Forster. "Our goal is to double the amount of money available for scholarships, awards and bursaries for Malaspina students." The Foundation currently administers over 370 scholarships, awards and bursaries worth approximately $400-thousand a year.
Forster said many students qualified for recognition or financial aid last year, but there wasn’t enough money to support them. "We want to turn that around," he said.
There are several ways to help. Individuals or businesses can make a direct donation to Malaspina's new Key to Success Fund, pledge a named $500 annual award, create a permanent endowment, consider a gift of stock or insurance, or create a gift with a bequest from their estate.
Endowed gifts to the Foundation are invested in perpetuity, and interest generated provides at least half of the awards passed on to students each year. "It requires a larger donation, but Malaspina offers up to $100,000 in matching money to help build new endowments," Forster said.
Meanwhile, Foundation Chair Mike Brown thanked the Pepsi Bottling Group for kick-starting the Key to Success campaign with a $15,000 donation over three years.
"Pepsi will match the donation of any company, business or individual that pledges $250 per year for three years," said Brown. "That alone could provide 60 new $500 awards for students."
Brown also recognized several donors who created new student scholarships this year. Beryl Albee, BC Hydro Power Smart, Sherry Brown, Clarica & Clarica Sunlife and Kathy White of Coast Reality recently donated $500 each. Foundation director Gill Campbell and her husband Chris created a $1,000 award for Aquaculture students, while TimberWest recently created a $2,000 award for forestry students. Brown said the Annie May Beck Endowment Fund for Education students was also established this year through a donation of $82,700 by Beck’s friend and cousin, Dorothy McCourt.
Five new student memorial awards were also created this year in honour of the late Margaret Brown, Fred Cairns, Lorne Ball, Keith Hodgson and Lionel Hennessy.
Sandra Nichols, speaking on behalf of Malaspina students, said financial assistance provided by businesses, community groups and individuals helps students survive. "I know students who work part-time or full-time jobs while attending school to make ends meet," she said. "Any financial assistance they receive is greatly appreciated. It makes a huge impact on their lives."
Malaspina President Rich Johnston said Nanaimo is blessed to have so many generous community members and business leaders who consistently support Malaspina and its students. "I sincerely thank you for your time, effort, expertise and money," he said.
Every gift to Malaspina – big or small – is important, added Brown. The Foundation issues tax receipts, and includes donors in an ongoing program of recognition and appreciation. For more information on how you can contribute, call the Foundation office at 740-6212.
Tags: In the Community
