APPENDIX D ANNUAL REPORT FOR THE FOUNDATION INTRODUCTION The Northern College Foundation operates as a department of the college and is not separately incorporated. Its financial activity is consolidated and reported within the college’s audited financial statements. The Foundation office works with campus Financial Aid Officers (FAO’s) to coordinate donor relations, bursary applications, and award ceremonies. Although not currently resourced to operate an annual giving campaign, the College saw an increase in donors to the Foundation for students over the past year. SUMMARY OF PERFORMANCE OF INVESTMENTS 2019-2020 was an exceptional year in returns for the funds invested in student supports. Bursaries to students paid from Trust Funds and Tuition Set Aside increased more than $206,000, up 55 percent, including flow-through monies for the academic year, with well over a half million dollars, $584,000, in funds awarded to students to recognize their achievements and support their studies. This amount was up from the previous $378,000 total amount in bursaries given out to students for the 2018-19 academic year. Phenomenal growth also occurred in the amounts of bursaries awarded from Trust Funds, showing an 82 percent increase from interest generated in an exceptionally strong market, with an additional $233,000 earned this year totaling $517,000 against the $284,000 showing of the previous year. The Investment Return Earned category was also up this year, with a moderate 19 percent increase over last year’s returns. This increase amounted to a total of $214,000 for the year, raising the amount of the Endowment in this portfolio from $1.144M to $1.359M.
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One source of decline demonstrated over the past year involved the awards given out from tuition set aside funds, showing a -29 percent drop from $94,000 to $67,000, amounting to a $27,000 total decline.
