Student Awards
Establishing Student Awards
Awards and scholarships provide encouragement, recognition, and necessary financial support to students going on to a post-secondary institution. The Greater Saskatoon Catholic Schools Foundation Inc. is constantly searching for new awards to recognize student excellence. The Executive Director of the Foundation will be pleased to discuss the wishes of donors in order to compose acceptable terms and conditions for the proposed award. There are three ways to fund an award:
- Annual cash donations by the donor in the amount of the award.
- A gift, funded by cash donation, bequest, trust, annuity, RRSP/RRIF, or life insurance policy used to create a fixed term award funded from the earnings and capital for a specified number of years.
- A cash gift, annuity, RRSP/RRIF, bequest, trust, or life insurance policy used to establish an endowed award, which will be maintained for an extended period. To accomplish this, the award is funded from the earnings in a trust fund and a portion of the earnings are added to the original capital. By protecting against inflation, the Greater Saskatoon Catholic Schools Foundation Inc. ensures that the scholarships and other programs that were set up by generous donations, retain their value and prestige.
It is important to note that depending on the desired purpose of the donation, initial capital donation requirements will differ. The Executive Director of the Foundation will be please to advise donors and advisors on any questions regarding donation requirements, or the management of funds.
Terms of Reference
To accomplish the donor's wishes, the Executive Director works with them and/or their advisors to establish Terms of Reference which outline the specifics of the donation. These terms establish the name of the fund, the purpose, the source and amount of the funding, any selection criteria required, and the gift's general administration.
Naming of Gifts
Certain donations to the Greater Saskatoon Catholic Schools Foundation Inc. may be named to recognize or honour individuals and organizations. In this way, the donor's name or the name of a relative or friend they wish to memorialize becomes associated with the gift. This naming option exists for endowed and non-endowed funds, and applies to all sources and purposes of gifts. When we are dealing with named gifts, for purposes of presentation and promotion, we like to receive a brief explanation of the connection between the honoree and the purpose of the gift.
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