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, 2023, the Foundation received charitable contributions of $1.2 million. Approximately $15,000 was received into the Building Fund, $200,000 for Endowment Funds and $1,000,000 in restricted and unrestricted annual giving and gifts. The Foundation was able to grant approximately $950,000 to the College in Fiscal 2023.
The Foundation’s assets are invested in cash and cash equivalents to meet immediate obligations, and also in pooled, equity, fixed income, and alternative investment funds. As at June 30, 2023, the net assets of the Foundation totaled $5.2 million compared to $4.7 million in the previous year. A significant portion of the net assets are endowment funds with a balance of $3.1 million as at June 30, 2023. The Foundation’s endowment assets are managed by a professional investment management firm.
I would like to thank the members of the Foundation Board of Trustees who work as stewards of your donations to ensure the future vitality of the College. Continuing with me on the Board of Trustees are Karen Figueiredo (Vice-Chair and Treasurer), Andrew Mitchell, Jon McKeown and Charles Walker as well as Ex-officio Trustees representing RSGC - Stephen Beatty (RSGC Headmaster), Brad Holland (RSGC Governor) and Sundeep Bhatia (RSGC Chief Financial Officer). I would also like to welcome David Cochrane ’08 who was appointed as a Trustee in October 2023.
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