The King's Foundation

Mission

The King's Foundation provides services to King’s relating to fund management, investment, financial management, and advice, as well as direction to fund‑raising efforts designed to ensure the future of a high quality Christian university college in Western Canada.

The impetus for the establishment of the Foundation came from a group of “concerned businessmen, farmers, and professionals”, who began to meet in late 1982 and early 1983.  Their concern centered around the University College’s serious financial situation at that time.  These dedicated people resolved to give personal leadership and financial support to the University College in order to improve its financial position and provide support in fund raising.

In 1985 the Memorandum of Association was signed to formally establish The King’s College Foundation. With the subsequent name change in The King’s University College, the Foundation, too, was re‑named The King’s University College Foundation

The first Board of Directors included people from Alberta, British Columbia, Manitoba, Ontario, and Saskatchewan.  The membership has undergone several changes over the years.  Currently, there are 54 members, and one honorary members representing all regions of Canada, with a maximum of 11 members forming he Board of Directors. The Foundation also maintains a deceased members list. Day‑to‑day administration is managed by an Executive Director, who works on a part time basis.

Current Projects

1. Scholarship and Bursary Endowment Fund
From Endowment Fund investment earnings, the Foundation currently offers annually one bursary of $1,000,  and two Business scholarships of $1,000. The latter are made available to full‑time returning third- and fourth‑year students enrolled in the Bachelor of Commerce degree program.  Selection criteria include academic achievement, demonstrated Christian commitment, and financial need.

2. Other Endowment Funds
The Foundation currently manages endowment funds in support of:

1. The Cornerstone Business Scholarship;
2. The Boessenkool Business Scholarship;
3. The Sunstar Scholarship in Environmental Studies;
4. The Betty and Len Vogelaar Scholarship and Bursary;
5. The Fred & Frieda Voogd Education Scholarship.

3. Student Resident Building
A recent project of the Foundation concerned the need to add student residence space to the campus.  As the student body grows, space in the existing student residence is very limited, and the waiting list is growing.  With enrolments projected to increase an average of 8% per year, by 2010 King's may have as many as 1,000 students on campus, with even more demand for on‑site housing.

The Foundation provided $50,000 for the design and working drawings of the new residence building.  In addition, the Foundation committed to raising $3 million in investment financing to make this project a reality.  Though not yet completed, to-date more than $1,900,000 has been raised.  The residence is expected to be self‑supporting on an annual basis, including repayment of the investment principal over time.  The Foundation also committed to providing King’s with a grant of up to $50,000 per year for a maximum of three years, beginning in 2004/05, to cover any shortage of residence income that may arise during the first years of operation.  Construction of the new Apartment Residence building on the property south of the present campus was completed in August 2004.  In fall 2006 the Tower and the Apartment accommodated about 225 students.

At the November 18, 2005 Annual Members’ meeting the Foundation agreed to raise $65,000 per year for 3 years starting in 2006/07, in support of staffing for the Secondary Education after-degree program.  Initially, It was hoped that this program could be established at The King’s in 2007/2008; the approval process by the Province of Alberta and the recruitment of staff have delayed this until 2008/09 at the earliest. Meanwhile, fundraising for this project among Foundation members is proceeding at a very successful rate.