Endowment Fund Committee

Endowment funds are an important element in future planning for the University. An endowment fund has the capital invested and the interest revenue allocated to provide enrichment. Endowment funds provide a vehicle to receive contributions in future years. Donors like to know that their gifts are being used in perpetuity; an established endowment fund encourages further participation.

 

There will be two types of endowment funds at the University of Manitoba; the General University Endowment Fund and the faculty/school endowment fund. All University constituencies may apply for funds from the interest revenue from the General University Endowment Fund; interest revenue from faculty/school endowments will be available to people and projects meeting objectives outlined by each faculty/school endowment fund.

 

The University of Manitoba Board of Governors, on June 26, 1986, approved the following policy statement regarding faculty or school endowment funds.

  1. A faculty or school endowment fund (the "fund") shall be a University trust established for the purpose of the general academic enrichment of a particular faculty or school of the University.

  2. a)         There shall be no encroachment of the capital of a fund, but investment income earned there from may be used, subject to Section 2 (b) herein, for such specific purposes as will enhance the academic programs of the faculty or school: for example, scholarships, fellowships, lectureships, visiting professorships and acquisition of equipment and library materials related to research and teaching.
    b)         A portion of the investment income earned annually by a fund normally shall be added to the capital of the fund in accordance with guidelines and policies established from time to time by the Board of Governors of the University, in order to maintain the value of the fund.
    c)         Investment income of a fund available for distribution need not be disbursed in the year in which it is earned.

  3. Scholarships and fellowships supported by a fund shall be administered in accordance with the policies and guidelines of the Board of Governors of the University.

 

Faculty of Nursing Endowment Fund Advisory Committee Terms of Reference 

Preamble: The Faculty of Nursing Endowment Fund was established in August 1990 to enhance the work of the Faculty in the pursuit of excellence in the areas of nursing education, nursing practice, and nursing research within the Faculty of Nursing. These pursuits contribute to the mission of the Faculty by advancing nursing knowledge and practice, and by contributing to the health and well-being of society in general.

 

1.   Responsible to:

The Endowment Fund Advisory Committee (EFAC) makes recommendations to the Dean of the Faculty of Nursing regarding the disbursements of the annual investment income from the Faculty Endowment Fund. The Dean may decline to authorize the funding of any project/proposal recommended by the EFAC. However, the Dean shall not authorize the funding of any project/proposal not recommended by the EFAC.

2.   Composition:

 

The Advisory Committee shall consist of at least 9 members plus a chair of the committee appointed by the Dean. Members shall represent the following constituencies within the Faculty of Nursing:

 

            Faculty (3) one of whom is a member of the Faculty of Graduate Studies

            Students (3)

                        Graduate students (1)

                        Four Year Baccalaureate Program (1)

                        Baccalaureate Program for Registered Nurses (1)

            Support Staff (1)

            Executive Assistant shall be a non-voting member of the committee

Faculty of Nursing Alumni (1) 

 

3.   Appointments:

Faculty (from a roster of names submitted by the nominating committee) and support staff members of the EFAC shall be appointed by the Dean of the Faculty of Nursing.

Student members and external members shall be named by their respective organizations at the invitation of the Dean, and once identified, shall be appointed by the Dean.

The Dean shall name the Chair of the EFAC. The Chair shall vote only in the event of a tie. 

4.   Terms of Office:

Each member shall serve for a two year term which may be renewed; student members will normally serve a one-year term with possible reappointment for a second year. When a member is unable to complete their term of office, a new member from that constituency shall be named to complete the respective term.

 

Normally, one-third (1/3) of the terms shall expire each year. 

 

5.   Meetings:

The Advisory Committee shall meet at least once a year. A quorum will be five (5) members, of which at least one (1) must be a student. 

6.   The EFAC is responsible for the following activities:

  • Developing and reviewing guidelines and forms for receiving and reviewing proposals for funding that reflect a standardized and objective process.

  • Issuing an annual invitation to faculty, students, support staff, alumni to submit proposals/requests for funding normally once per year.

  • Receiving and reviewing proposals for funding based on established criteria.

  • Submitting recommendations on funding proposals to the Dean of the Faculty of Nursing.

  •  Publicizing the proposals/projects funded each year.

  • Receiving follow-up reports at a specified time from individuals/groups receiving funds from the Faculty of Nursing Endowment Fund.

  • Reviewing the Terms of Reference of the EFAC every three years 

7.   Procedures:

  •  Applications to the Endowment Fund will be held in confidence.

  •  Conflict of interest of the part of a committee member must be disclosed to the Chair.

8.   Administrative Support:

Administrative support regarding management of the Faculty of Nursing Endowment Fund monies shall be provided by the Executive Assistant to the Dean. The Office of the Dean of the Faculty of Nursing shall provide secretarial support to the EFAC.

 

 

Approved By Council November 30, 2000

Reviewed April 2008 , April 2012

Approved September 2012