Published on Brock University (http://www.brocku.ca)
July 7, 2009
The cheque is in and Brock University’s endowment has increased more than $4.3 million this year to help students with financial needs, thanks to generous donors and to an Ontario government program that multiplied donated bursary money raised by the University this spring.
In the final tally, generous donors gave Brock $1.38 million for student financial awards, which was enough to qualify for a further $3 million from the Ontario Trust for Student Support (OTSS).
“This is amazing generosity in these challenging times,” said Doug Earle, Executive Director of The Campaign for a Bold New Brock. “This $4.393 million addition to Brock’s endowment is estimated to help 132 more students attend Brock each and every year.”
The Ontario government’s OTSS program offers matching funds based on how much universities raise to be used for awards for Ontario students with financial need. As an incentive, the OTSS formula gets richer for universities achieving better results.
Total gifts from Brock’s donors surpassed the target needed for matching funds, and ultimately qualified the university for extra provincial dollars on a $1-for-$3 basis. But it had been far from certain that Brock would get the top provincial rate.
With one week to go before the deadline, the University was $70,000 shy of qualifying for the $1-for-$3 funding. But some generous gifts in the final days of the 2008-09 OTSS fiscal year pushed Brock’s fundraising efforts into bonus territory. They included a major bequest from a Niagara-on-the-Lake family.
The estate of Doris White left Brock more than $390,000. The gift is for music program endowments in her name, and English program endowments named for her late husband Kenneth White. After Ontario government bonus funds, the Whites’ original gift is enhanced to more than $1.2 million.
"The province wants us to find ways to help Ontario's top students with financial needs receive a university education," said Earle. “And thanks to our many generous donors, we are now able to help more of our best young people do just that.”