BCITRA Endowment Fund

An endowment fund is an investment fund established by a foundation that makes consistent withdrawals from invested capital. In the BCITRA case the fund is managed by the BCIT Foundation and the withdrawals are bursaries for deserving BCIT students.

The Retirees’ Association has established such a fund. It has grown in recent times from around $33000 in 2014 to around $74000 currently. With this capital there is enough generated interest to provide two bursaries of about $1350 each per annum to BCIT students. More than 35 such bursaries have been awarded over time.

Sources for our fund have been from direct legacy giving in BCITRA members’ wills, patronage dividends from supporting agencies such as Johnson Insurance and contributions to membership fees in excess of operating needs.

In our latest dues structure the provision for a discounted ten year membership has augmented the funds considerably. Individual tax receipts from the Foundation are issued for qualifying contributions.

We regularly receive letters of appreciation from students and praise from the Foundation in recognition of our endowment fund. A recent letter said “Your support encourages students to achieve their dreams”. It fulfills our dreams as well, as exemplified in our Constitution and Bylaws