An endowed gift is a donation of money or transfer of property with the stipulation that it be invested and that the principal remain intact in perpetuity. This allows the donation to have a long-term and ongoing impact.
The College awards annual scholarships from the interest generated by endowed gifts. Endowments can be named in recognition of the donor(s) and the base amount may be added to at any time. An endowment must generate interest for a full year before disbursements can begin.
GBC Foundation’s endowments are invested with the Toronto Community Foundation to access top level investment advisors who manage the funds in a reasonable and prudent manner.
You will receive a tax receipt for the full amount of your endowment fund contribution.
With a gift totalling $10,000 or more, you can establish a named scholarship to be awarded from the interest earned on your endowment fund. This principal is never expended, so the scholarship is presented in perpetuity.
Donor representatives often participate in the presentation of the annual student scholarship.
GBC faculty members select student award recipients based on criteria developed by you when you establish an endowment. These criteria reflect the nature of the scholarship. However, we ask donors to keep such criteria general to ensure a scholarship can be presented each year.
A complete list of endowed scholarships can be viewed at: http://www.georgebrown.ca/financialaid/external_awards_scholarships/
For more information, please contact:
Cindy Gouveia, President
George Brown College Foundation
416-415-5000 ext. 2747