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.
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 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. Proposals for the November 10, 2006, Annual Meeting
1. The Trustees support the work of the YUFA Foundation in awarding and monitoring scholarships to York University students. In order that the funds of the YUFA Foundation not be depleted, it is recommended that routine audit and associated fees of the YUFA Foundation be paid by the Trust on an ongoing basis.
2. The YUFA Foundation Directors have held discussions with the York Foundation and considered the implications of the establishment of the new Faculty of Health at York. The result is a unanimous recommendation that we establish a new scholarship for that faculty rather than reallocate the existing number of scholarships. This entails a new donation of $3,000 per year. The Directors are willing to allocate $6,000 over the next two years for this purpose. They are seeking reimbursement from the YUFA Trust and also recommend to the YUFA Trust that it contribute $30,000 to be matched by the Ontario Government resulting in an endowment of $60,000 which would yield an ongoing annual scholarship of $3,000 commencing in 2008-9. The Trustees unanimously recommend the $36,000 use of Trust funds.
2005-6 Trustees are as follows:
Don Dippo - 88791 - ddippo@edu.yorku.ca - secretary
Lorna Irwin - 60306 - lerwin@yorku.ca
Paul Evans -- 55801 - pevans@yorku.ca - chair
Penni Stewart - 77998 - pstewart@yorku.ca
Walter Whiteley - 22598 - whiteley@yorku.ca - treasurer
