STUDENT APPLICATIONS DUE JUNE 30 FOR GRAVENHURST ROTARY BURSARY FUND HANDING OUT $115,000 NEXT SCHOOL YEAR
LETTER TO EDITOR:
Last year 26 students from Gravenhurst were accepted at universities such as Queens, Trent, Ottawa and Toronto, and colleges such as Fanshawe, Algonquin, Seneca and Georgian.
Their dreams of a higher education and a better way of life have been assisted by citizens from Gravenhurst, who over the past 13 years have made donations to the Rotary Bursary Endowment Fund.
Twenty local residents and cottagers have each donated more than $25,000 and together with another 150 donors have created a fund now worth $2.2 million, which are kept in a Rotary bursary investment account.
For the 2022-2023 school year the fund, together with an annual private donation from a generous cottager, will provide $115,000.00 in bursaries to help students and their families who are in need of assistance to pursue a higher education and training.
The Rotary Club of Gravenhurst initiated the Rotary Bursary Endowment Fund in 2009 for those wishing to obtain a degree, diploma or certificate from a university, college or trade program of their choice.
There is no age limit and the student’s marks are not required on the application.
The dividends and interest generated from the investments will result in each student receiving between $1,000 and $4,500 each this year.
Rotarian Ken Little, chairman of the fund, said: “This fund was started with the hope that we could provide opportunity for students and change the expectations of families for their children. It’s important for parents and children to know there is help — right here in our community — for their next generation to get a better education.”
Richard Augustine, also a Rotarian and an accountant and advisor to the bursary fund, adds: “As the value of our investments have grown, so too have the dividends and interest. We do not spend the donations, we invest them. As the fund grows we can give more to students from our small town who have a dream of a better life.
“The fund is the largest charitable fund in Gravenhurst and we have been pleasantly surprised to have more residents including the Rotary Bursary Endowment Fund in their estate planning. Most recently, the club received $50,000 from the estate of Patricia Forth.
“The fund has grown substantially from the $50,000 seed money provided by the Rotary Club of Gravenhurst. In 2009 the fund could only give out $2,500 and this year they expect to give out over $90,000 from the investments.
“More importantly to donors who have read about the substantial administration cost deducted by other charities, there has never been any administration cost and 100 per cent of your donation stays in the Rotary Bursary Endowment Fund’s investment account. As an accountant I could not overlook the importance of the fact the Rotary Club of Gravenhurst is a registered charity and you get a tax receipt, too.”
For each “stand-alone” bursary donation of $25,000 or more the fund develops a “story” about the donor or the person whose memory the donation is to commemorate. That story is not only available on the website for the public to read about at any time, but it is also provided when the student is informed of his/her bursary. So their memory lives on.
To qualify for a bursary the applicant must be either going to school in Gravenhurst, or be a Gravenhurst resident and actively pursuing a post-secondary education. If a student is from Gravenhurst and attending Catholic schools in Bracebridge or Orillia, they may also be eligible for a bursary.
Previous bursary award recipients may also apply each year they are at school. Members of the Rotary Club and their families are not eligible.
The Rotary Bursary Endowment Fund continues to receive donations annually from individuals in the community and encourages those who as a result of inheritance, lottery or their own hard work find themselves in a position to gift more than $25,000 to speak to chair Little and become a sustaining member with your own family bursary. Your legacy will live on each year in a new child’s appreciative heart.
“Help us, to help children, trying to help themselves,” says Little.
Applications for the 2022-2023 year of study are available at local high schools or on the website at www.BursaryFund.ca, where you will also find full details regarding qualifications, special donors, history etc.
Fully completed applications
must be received by June 30
and can be dropped off at:
- Muskoka Real Estate Services, 810 Bay St. in Gravenhurst,
- by calling Little at 705-687-7777
- or send by mail to: The Rotary Bursary Endowment Fund, Box 888, Gravenhurst, Ont., P1P 1V2
