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Manitoba Community Foundations
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Manitoba Community Foundations
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Are YOU are interested in starting a scholarship and/or bursary fund? |
Manitoba contributed $500,000 over five years for a bursary program for rural and northern students |
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Willaim Bodman |
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From 2005 to 2010, the community foundations created a total of 65 new bursary or scholarship funds and added to six existing funds.
Provincial funding of $100,000 a year for five years was used to lever an additional $1,495,200 in donor support to create $1,995,200 in endowment funds. Eligibility criteria were established at the local level as Manitoba community foundations worked with their donors to create the new bursaries and scholarships or added to existing ones. These new annual awards recognizes the extra financial burden faced by students who live in rural Manitoba.
The response from communities was exceptional and many young Manitobans now have increased access to post-secondary education with this additional financial support to offset the costs of travelling or moving to larger centres.
Additional Information:
Definitions:
A scholarship fund is a permanent endowment established with a gift(s) of capital which is donated to a Manitoba community foundation and which generates annual investment income to be granted as an academic award for scholastic achievement.
A bursary fund is a permanent endowment established with a gift(s) of capital which is donated to a Manitoba community foundation and which generates annual investment income to be granted as financial support to students needing assistance to pursue post secondary educational opportunities.
Scholarship and bursary fund agreements are agreements between Manitoba community foundations and local donors setting out the criteria for their gifts including but not limited to the process for naming recipients and the high school or community to which the award applies.
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