TWF has its own formulas for protecting funds from inflation, paying investment fees and allocation of management costs. The MMCF funds will now come under these rules. TWF also sets the funds available for disbursement each year and keeps its spending formula between 4-5% of capital for all funds. This will also apply to the MMCF funds.

We are in the process of reviewing the terms of reference for all our funds and have completed 90% of them. In cases where changes needed to be made e.g. funds to support the Neil John Maclean Library, donors were contacted before changes were made.  The TOR for all student support funds will be registered with and approved by the University of Manitoba Senate to ensure that no fund is neglected or lost.

Four new funds are now being created from our general support funds. One fund will be used to provide entrance scholarships for the School of Medical Rehabilitation. Fund for travel grants have been established for Graduate Students. An additional fund for medical student travel is also being established. The last fund will be an endowment fund to support the cataloguing and restoration of the Faculty of Medicine Art Collection.

MMCF has officially relinquished its own charity number with the Canada Revenue Agency and has done its last audit. We will still be able to accept donations to any of our funds but the donations will be made through the TWF. We will soon have our funds listed on their web-site.

The Board of MMCF has now evolved into an advisory committee which will remain in place until all our funds are registered with the University Senate and a mechanism is in place to ensure that donations can still be made to our funds. You can still contact me at dbiehl@mymts.net for further information.

Diane Biehl

President, Board of MMCF                                                       February 24, 2012