The only source of money is donations from our members or from friendly non-members.
In any year, the amount the Fund can pay in bursaries, is 6% of its total. (At present, this is almost $700. a year).
The Fund is the property of the University and is administered by the Awards Office. The Association has the sole right to say when and how it can be spent.
Can I deduct a donation for income tax? Absolutely!
How can I make a donation? Ah, let me count the ways: To honour the memory of a friend. To mark an occasion of significance (a birthday, an anniversary). Or just to make yourself feel good. All it takes is a cheque to the University, marked clearly "For Fac/Lib Retirees' Bursary Fund". And if you ask our Bursary Chairman (Bill Phillips), the Assoc'n will be glad to write a letter to advise whomever you wish, that the donation was made by you and in whose honour it was made! We have already written several such letters.
WHAT TO DO NOW? Strictly speaking, the Fund is now big enough to start paying a few modest bursaries to students in need, which is its purpose. However, Phillips moved, and the meeting approved, letting it grow to at least $15,000. before making the first payments.
HE STRESSED AGAIN the symbolic value of the Fund, a tangible symbol of the commitment of the Faculty and Librarian Retirees toward the University; and that the Fund targets an area which Windsor has often (justly) been criticised as having neglected student bursaries.
IN THE MEANTIME, Phillips suggested that members think about how to make the selections when the time comes. We can (1) ask the Awards Office to make the selections for us; or (2) make the choices ourselves, keeping in mind that the latter would mean a committee, and work.
PHILLIPS READ A LETTER received from Dr. W.E.Jones, VP Academic, referring to the progress that the Bursary Fund is making. "The fact that it has now moved beyond $10,000 is great news and you and your colleagues are to be congratulated on this grand effort".