1988/89
MATCHING ENDOWMENT FUND

ADMINISTRATIVE GUIDELINES

 

(Ouring the term of the program, circumstances may arise which will
require changes in these Administrative Guidelines. )

OBJECTIVE:

To encourage private sector contribution to the education of British
Columbians through donations to endowment funds at the educational
institutions in the province. Each of the Province's eligible
universities, colleges and institutes will create its own endowment fund
for bursaries and scholarships (Eligible institutions are listed below).

FUNDING:

The value of donations made to institutional endowment funds will be
matched by government to a yearly maximum of $2 million, commencing
April 1, 1988.

ELIGIBLE DONORS:

Individuals, private business and industry, community organizations,
non-institutional foundations.

DONATION REQUIREMENTS:

The donation should benefit an institution's scholarship or bursary
activities.

The donation is expected to be irrevocably given to, and become an asset
of, an institution.

MATCHING GRANT REQUIREMENT:
For the purpose of this Fund, an "endowment" is defined as:

"A cash donation or group of cash donations made to an institution

for scholarship or bursary purposes where the donation or group of

donations will be held by the institution for at least 25 years and
where only the income generated will be used for that purpose."

The matching grant is to be used to benefit the institution's
scholarship or bursary activities, by attracting and then matching
contributions to endowment funds. In the case where an institution

operates a separate Foundation for Scholarship purposes, contributions
made to the Foundation will be eligible for government matching.