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, 2018, the Foundation received charitable contributions of $1.1 million. Approximately $408,000 was received into the Building Fund, $130,000 for Endowment Funds, primarily for the Manners Maketh Men scholarship fund, and $563,000 in restricted and unrestricted annual giving and gifts. The Foundation was able to grant $912,000 to the College in Fiscal 2018.
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, 2018, the net assets of the Foundation totaled $2.9 million compared to $2.6 million in the previous year. Most of the Foundation’s net assets are endowment funds, with balances of $2.2 million as at June 30, 2018 compared to a balance of $1.9 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 9.0%.
I would like to thank the Foundation Trustees – John Buckingham ’71; John Firstbrook '76, Peter Furnish, an RSGC parent (cross-appointed as Chair of the Advancement Committee of the College Board of Governors); Wanda Ho, an RSGC alumni parent; Jamie Lint ’98; David Mather, an RSGC alumni parent; and Andrew Mitchell, RSGC parent for their time and attention this year to Foundation business. To the departing Trustees – thank you to Peter Furnish who has finished his term on the College Board of Governors and thus leaves the Foundation Board as ex-officio Trustee, and to David Mather, who after 18 years of generously providing his time and expertise with the Foundation, completed his final term as Trustee during the year. I also welcome Karen Figueiredo (RSGC alumni parent), Chris Newall (current parent) and Brad Holland (RSGC alumni parent and Chair of the College Advancement Committee) who are new to the Board for Fiscal 2019.
On behalf of the Trustees of the Foundation, I extend appreciation to our generous donors, and Stephen Beatty ’86, Headmaster, Jane Nyman, Chief Financial Officer and Maria Jordan, Executive Director of Advancement for their tremendous support.
If you would like to view the audited financial statements, investment management reports or any of the policy documents of the Foundation or would be interested in serving on the Board of Trustees, please contact Jane Nyman or me.
Guy Burry '77
Chair, St. George's College Foundation