The YUFA Trust was formed in 1980 and since that time has received the YUFA bargaining unit portion of the Employment Insurance rebates received by York University. These rebates are the result of reduced Employment Insurance premiums because YUFA's long-term disability plan duplicates some aspects of the government's Employment Insurance plan.
Our contributions have comprised the following.
1. YUFA Foundation
The YUFA Trust has provided most of the funding of the YUFA Foundation which provides for scholarships and bursaries to York students. Including matching funds, the YUFA Foundation has been responsible for establishing a scholarship and bursary fund amounting to $2,100,000. The annual value of the distributions from this fund reached $105,000 in 2001-2002 and we expect that distributions will remain at at least this level.
We are committed to the ongoing support of the YUFA Foundation and have augmented their funds on a regular basis for scholarships, awards and bursaries. At the 2006 AGM it was agreed that we will pay routine audit and associated fees of the YUFA Foundation on an ongoing basis.
2. Local Community Initiatives
a) High School Initiatives
Following the 2002 annual meeting, we commenced funding of the York/Westview Partnership Advance Credit Experience (ACE) at the rate of $5,000 per year. The project initially supported enrolment of up to 20 students from Westview Centennial Secondary School to take one half course for credit at York University. Students also receive additional support from a variety of structures as preparation for this course, and while taking this course. ACE was and is designed to support an effective choice by local high school students to attend University and be well prepared for this transition. We have continued to make these annual contributions and have recently replaced them by contributing a capital sum so that the amount awarded each year and the number of eligible schools can be be substantially increased.
At the 2004 AGM, the membership approved a donation of $252,500 to enable York/Westview scholarships, awards and bursaries. This donation was subsequently made. Our contribution was augmented, mainly by an anonymous donor and YUFA. As a result the total contribution was slightly over $800,000.
The awards from this fund are offered to secondary school students entering the first year of a direct entry program at York University from high schools in the Jane and Finch community. Preference will be given to students who have completed the ACE. The successful applicants will be selected based on their performance in the ACE course, demonstrated leadership in the ACE program and their Coop placement evaluation. Recipients must also be Canadian citizens or permanent residents and residents of Ontario and demonstrate financial need.
The awards are at the discretion of an Award Committee consisting of the Westview Coordinator, the two chairs of the YUFA Community Project Committee and the ACE Program Co-op Coordinator(s). YUFA Trust/YUFA Jane-Finch Community Scholarships, Awards and Bursaries will be awarded to incoming students who demonstrate financial need and meet residency requirements. Amounts to be awarded will vary according to financial need.
b) Summer Literacy Camp
Following the 2003 AGM Trustees approved an annual contribution of $5,000 in support of the Summer Literacy Camp for four years, subject to annual review. These annual contributions have continued to be made and were augmented by a $6,000 contribution from the Community Projects Committee for Summer 2005.
3. Faculty Initiatives
The Trust has provided significant funding to towards the Faculty Club and Glendon Senior Common Room facilities. Our most recent contribution was in 2003 of $15,000 to renovate the Fireside Room of the Glendon Senior Common Room.
We have also collaborated with the Executive of the Association of Retired Faculty and the trustees of the Retirement Benefits Trust Fund to support efforts to improve the level of medical benefits for retired faculty. $100,000 was disbursed for this purpose in 2002-3.
4. Ontario Graduate Scholarships in Science and Technology
We have pledged $5,000 each year from 2000 through to 2007 to help provide a fund for Ontario Graduate Scholarships in Science and Technology. Our eight $5,000 contributions enabled a "double matching" grant of $80,000 from the Ontario government. A total of $35,000 has so far been contributed and annual contributions will continue until our accumulated contributions reach $40,000.
5. Socially Responsible Investment Policy
The Trustees held a meeting with senior university and York Foundation staff with administrative responsibilities in connection with the scholarship endowment funds to which we have contributed. There was an exchange of information and it is our intention to meet at least annually to monitor and assess progress in terms of instigating a socially responsible investment policy.
6. Scholarship Funding for Part-Time and/or Graduate Students
The Trustees have asked the YUFA Foundation to investigate as to whether there may be a lack of bursary funds for part-time and/or graduate students.
7. Approvals to be sought at the October 16, 2007, Annual Meeting
1. The Trustees have been involved in discussions concerning a Transition Year Program whereby twenty local early high school leavers from under-represented groups who do not have the educational background to apply for undergraduate study at York, and would not otherwise be admissable, will be admitted each year and funded for two terms. Subject to others making the necessary contributions, the Trustees will spend up to $25,000 annually for up to two years, the second instalment to be conditional on evidence of future sustainable funding.
2. The Trustees received a request from the YUFA Foundation that the existing scholarships and proposed scholarships be increased from $3,000 to $3,500. The cost of this proposal will be $150,000 of which a half would be contributed by the provincial government. The Trustees will accordingly spend $75,000 for this purpose plus $7,500 to enable introduction of the augmented scholarships next year prior to the endowment having generated the necessary income.
3. The Trustees approved and the membership accepted in 2006 a proposal to fund health scholarships amounting to $36,000. It is now proposed to increased this amount by $3,000 in order to provide additional interim funding as the payments from the endowment will not now commence until fall 2009.
4. The Trustees previously approved and the membership accepted contributions of $5,000 each year to each of the Advanced Credit Experience and the Readers to Leaders programs which are offered by York University in collaboration with the Toronto public and Catholic school boards. These contributions will continue for a further year subject to the receipt of satisfactory reports from these two programs.
2006-7 Trustees are as follows:
Don Dippo - 88791 - ddippo@edu.yorku.ca - to June 30, 2007
Lorna Erwin - 60306 - lerwin@yorku.ca
Paul Evans -- 55801 - pevans@yorku.ca - chair
Penni Stewart - 77998 - pstewart@yorku.ca - secretary
Walter Whiteley - 22598 - whiteley@yorku.ca - treasurer
