St. George’s College Foundation was established in 1988 as a registered charity with Canada Revenue Agency to support the activities of Royal St. George’s College. The Foundation’s mandate is to raise, administer and distribute funds and/or the income thereon for the benefit of the College.
During the year ended June 30, 2021, the Foundation received charitable contributions of $1.3 million. Approximately $175,000 was received into the Building Fund, $220,000 for Endowment Funds and $954,000 in restricted and unrestricted annual giving and gifts. The Foundation was able to grant $967,000 to the College in Fiscal 2021.
The Foundation’s assets are invested in cash and cash equivalents to meet immediate obligations, and also in equity and fixed income investment funds. As at June 30, 2021, the net assets of the Foundation totaled $4.5 million compared to $3.8 million in the previous year. Most of the Foundation’s net assets are endowment funds, with balances of $2.8 million as at June 30, 2021 compared to a balance of $2.3 million a year earlier. The Foundation’s endowment assets are managed by a professional investment management firm and the investment return for the year was approximately 14.0%.
I am pleased to have been appointed Chair of the St. George’s College Foundation Board of Trustees at the Foundation’s annual meeting in October 2021. Having served as a Trustee since 2018, I look forward to working in this new role with our generous donors and the College’s management team to help further the College’s strategic priorities.
I would like to take this opportunity to thank our outgoing Chair, Guy Burry, for 12 years of service to the Foundation and many years to the College prior to that time. His tremendous support over the years is appreciated. Also finishing their terms in October are John Firstbrook and Wanda Ho, both of whom also have a long history of support to the College and the Foundation, and for which we thank them.
Continuing with me on the Board of Trustees are Karen Figueiredo (appointed as Vice-Chair and Treasurer in October 2021), John Buckingham ’71, Jamie Lint ‘98, Andrew Mitchell, and Ex-officio Trustees representing RSGC - Stephen Beatty (RSGC Headmaster), Brad Holland (RSGC Governor) and Sundeep Bhatia (RSGC Chief Financial Officer). My thanks to all of them for their time and attention to the Foundation.
On behalf of the Trustees of the Foundation, I extend appreciation to our generous donors and Maria Jordan, Executive Director of Advancement for their ongoing support.
If you would like to view the audited financial statements or any of the policy documents of the Foundation, please contact Sundeep Bhatia.
If you would be interested in serving on the Board of Trustees, please contract Stephen Beatty or me.
Chair, St. George’s College Foundation