LGAC Named Scholarships
Help the LGAC build its Scholarship Program by donating a Named Scholarship. The LGAC has designed three multi-year plans of donation commitment leading to one or more Named Scholarships. All are based on the current cost of $10,000 per Scholarship.
(i) Single Named Scholarship:
A multi-year donation to fund one Named Scholarship
The LGAC will designate a Single Named Scholarship to honour a donor who commits to donating a total of $10,000 through a multi-year donation commitment of at least $1,000 per year until the target is met. For example, a donor could give $1,000 per year for 10 years, or $2,000 for 5 years.
For donors who have made significant cumulative donations in the past, the LGAC is offering a partial Donor Credit towards the cost of their Named Scholarship to encourage these donors to donate one or more Scholarships. Full details of the Donor Credit can be obtained by downloading the Named Scholarships information package.
(ii) Multi-Year Named Scholarship:
A multi-year donation to fund several annual Named Scholarships
The LGAC will name one Named Scholarship per year to honour a donor for each donation of $10,000 during a multi-year commitment. For instance, a donor could commit to donate $100,000 over 10 years ($10,000 per year) to fund 10 annual Named Scholarships, or $20,000 per year for 5 years for the same result. Similarly, $25,000 per year donated for 2 years would fund 5 Scholarships over 5 years.
The Donor Credit(s) described below may also be utilized for one or more years as part of a Multi-Year Scholarship commitment.
Donors may also convert a Multi-Year Named Scholarship for a fixed number of years into an incremental Endowed Scholarship on a permanent basis. In effect, the LGAC would permit the capital roll-over of any unspent donation amount for a Multi-Year Scholarship into capital for an Endowed Scholarship (see below).
For both the Single Named Scholarship and the Multi-Year Named Scholarship, the LGAC intends to use the funding to build its scholarship capital rather than increase the number of awards. The LGAC will work with donors to time the naming of their scholarship during the latter part of their donation commitment period or shortly thereafter. For donation commitments made after 2015, the LGAC may increase the $10,000 donation amount for a Named Scholarship to reflect the current cost of a scholarship.
(iii) Endowed Scholarship:
A multi-year donation to capitalize an annual fully-funded Named Scholarship
The LGAC will name an annual scholarship on a permanent basis to honour a donor who makes a capital commitment of $300,000 to fund a new scholarship. In addition to funding an incremental new scholarship, the endowing of a scholarship provides the donor with some scope to direct the use of the scholarship funds, provided that the scholarship winner does not receive any preference over a Scholarship applicant who was ranked higher.* If no candidate qualifies to win this scholarship, the LGAC may defer the award and make an additional award in a subsequent year. The LGAC reserves the right to limit scholarship awards during the donation term to reduce their impact on the endowment’s capital.
* This provision was adopted for the Molson Foundation Scholarship for which a francophone winner must first qualify as the winner of an LGAC Scholarship.
For Further Information:
- Contact firstname.lastname@example.org to receive further information or arrange a call to discuss donation alternatives.
- Indicate in the Named Scholarship box on the LGAC’s annual Donation Form.
that you would like to receive the Named Scholarship information package, including Donation Form.
What if none of these plans specifically works for you, but you are interested in some combination of these plans’ features? We would be happy to discuss options.
We look forward to hearing from you.
|LGAC Named Scholarships Donation Form - July 2015.pdf||129.5 KB|
|LGAC Named Scholarship Info Package.pdf||143.07 KB|