Giving to Scholarships and Bursaries
| SAIT has a long and proud tradition of providing scholarships to students with financial needs. Investments by individuals, companies and organizations have helped countless students who would otherwise have been unable to attend SAIT. As a result, a total of 2,858 awards were given to SAIT students last year totaling $3.1 million.
With the on-going commitment of donors, SAIT's scholarship program continues to ensure that SAIT learners have the financial resources they need to further their education and achieve their career goals. Whatever form your gift takes, it will make a difference. SAIT, and the students we serve, appreciate your commitment.
Here's what others have to say about being a SAIT Donor: | "My sister, Freda and I were enriched through the courses we took at SAIT. I hope the scholarship endowment in Freda's honour will encourage others to enjoy the same wonderful experience we did at SAIT" | Francis Nichols
Donor to the Francis Nichols and Freda Barnett Memorial Award | | | "Philanthropy creates new philanthropists. The recognition I have received for my achievements is something I want to pass along. I look forward to a time when I can do for others what has been done for me." | Guy Stuhlmiller
Scholarship Recipient |
Funding an Award from Endowed, Annual, or Legacy Funds:
Annual Scholarship Fund:
You may choose to pledge annually to a scholarship fund for a minimum of three years. In June of each year, the Student Awards office will send donors a letter reporting on the annual payment of the award.
Endowment Funds:
An endowment may be started at SAIT by providing a minimum $10,000 or several pledged payments, over a period of time. The donation will then be set up as an endowment fund for the exclusive purpose of funding an award each year. An endowed fund ensures that an annual award is given in perpetuity, funded from interest the fund generates each year. Currently, SAIT uses interest earned to a maximum of five percent of the principal invested, to fund the student award. Any additional interest earned is reinvested in the principal. This keeps the endowment a step ahead of the rate of inflation and also helps to ensure the endowment principal grows each year. Donors may also continue to contribute to the endowment fund each year to augment the fund's principal
.
Memorial Legacy Funds:
The Memorial Legacy Fund was established to accept financial contributions in memory of loved ones. All gifts are deposited into a designated account as part of SAIT's Memorial Legacy Fund. This fund is a pooled scholarship endowment that funds scholarships from the accrued interest. The awards are presented annually in memory of all loved ones and on behalf of the participating groups and donors. The principal portion of the account is invested in an endowment so only the income generated is used to fund the Memorial Legacy Awards. This ensures that the awards will be given in perpetuity. The Memorial Legacy Fund Awards are published annually in SAIT's Student Awards Booklet and on SAIT's web site. All donor contributions are tracked by the name of the loved one that is being honoured. Families and friends wanting to create a "named" scholarship endowment can contribute funds annually until a minimum of $10,000 is reached. The funds can be transferred to a new named endowment account and award criteria for the named award can be created.
Tax Receipts:
Donors receive a charitable tax receipt from SAIT for the value of their donation. SAIT charges no fees related to the administration of student awards--100% of the gift is used for the exclusive purpose of funding award.
Conveniently give now by using SAIT's online donation form or for further information about student awards, please contact Jason Demers at 403.210.5827.
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