At the Annual Meeting of The Loyalist College Foundation held May 28th, Beverley Townsend was elected as Chair, and Bernie Ouellet was elected as Vice-Chair for the coming year. June Surgey will serve as Past Chair of the Foundation for 2009-10.
Donna Gowthorpe, Mark Rollins and John Sherratt were elected as community representatives on the Board and join Directors Rick Belanger, Mark Hanley, Ross McDougall, Mark Rashotte and Steve Stumpacher. Kay Manderville, Susan Scarborough and Stuart Wright represent the College Board of Governors as Directors, along with the Board Chair. Retiring Directors Dorothy Davies-Flindall and Ted Rutter were thanked for their contributions over the past number of years and were appointed as Honorary Directors of the Foundation in recognition of their outstanding service.
Ex-officio Directors include College President, Maureen Piercy; College Board Chair, Margaret Werkhoven; Vice-President Corporate Services & Chief Financial Officer, Allan Ross; and Executive Director of College Advancement & External Relations, Dianne Spencer.
Foundation members learned that the endowment fund for bursaries for Loyalist College students totaled $5.002 million at March 31, 2009. In 2008-09, 275 awards with a total value of $166,949 were presented from endowed funds. This represents a six percent increase in the number of awards provided from investment income over last year.
During the year, $408,026 was received through donations to the College and matching funds from the provincial government’s Ontario Trust for Student Support (OTSS) program. These funds were presented to the Foundation from the College as part of the endowment fund to provide student bursaries.
“These results are excellent,” said College President, Maureen Piercy. “The College is very appreciative of the government’s matching opportunity, and very proud that our community has helped us so generously to maximize this funding for our students. The endowed funds are designated solely for financial assistance, and will help many students access their post-secondary education at Loyalist College.”
“On behalf of the Directors of the Foundation, I want to thank everyone who has provided support to Loyalist College and Loyalist students during the past year,” said retiring Foundation Chair, June Surgey. “This generosity will have a lasting impact on many individuals throughout the future.
Media Contact: Dianne Spencer, College Advancement & External Relations, Loyalist College (613) 969-1913, ext. 2235; Fax: (613) 969-7902; e-mail: dspencer@loyalistc.on.ca