Ways to Fund an Award

You can fund an award at UBC on an endowed or an annual basis, or a combination of both.

Endowed Awards

To establish an endowed award, you, individually or with a group of other donors, set up a capital fund at UBC to support the award in perpetuity. The university uses only the investment income generated by the capital to provide the income for the award.[1] In this manner, the fund builds for the future, enabling the value of the award to increase over time.

We will work with you to set up the Endowment Fund Terms of Reference, which lays out the framework in which the fund will be administered. Minimum capital for establishing named award endowments are as follows:

Award Type Capital Investment Annual Award at 4.00% or Annual Investment
Fellowship $750,000 $30,000
Scholarship $30,000 $1,200
Bursary $30,000 $1,200
Prize or Service Award $30,000 $1,200

Keeping in mind the expenses students face annually for tuition fees, text books and living expenses these are only the suggested minimums. You may initially establish an endowment at the above levels and then add to it over time until it increases to provide an ever-growing level of award support.

 

Annually Funded Awards

Some donors choose to fund awards on a year-to-year basis with an annual gift. If you choose to establish an award annually, an initial commitment of at least three years is required, after which the award can be renewed one year at a time. UBC Development will contact you by mail each fall for confirmation of support for your award for the coming year. We will work with you to finalize an Annual Award Agreement when the award is established.

 

Externally Administered Awards

Externally Administered Awards are scholarships, bursaries, fellowships, awards or prizes administered by individuals or organizations outside UBC. Externally administered award donors manage most aspects of their award, including advertising, establishing award criteria, distributing applications, evaluating candidates, and selecting the winner.

Externally administered award donors can disburse funds to students at UBC by forwarding the funds to the university. As long as the student is registered, Student Financial Awards and Assistance will apply the funds to the student’s outstanding tuition and student fees, and will issue any remaining funds to the student in the form of a cheque. UBC will also issue the appropriate tax information slips (T4A’s) required by Canada Revenue Agency.

With externally administered awards, the university has little or no input to the selection of award recipients. For this reason, funds for these awards are not considered charitable donations and tax receipts cannot be issued to the donor.

Cheques for all types of awards should be made payable to UBC and sent to the attention of Maria Rances at 500-5950 University Blvd, Vancouver, BC, Canada, V6T 1Z3. For more information, please contact Maria at 604-822-4437 or maria.rances@ubc.ca.

 

[1] UBC’s Endowment Management Policy #113 currently allows for an expenditure of income at a rate of 3.5 percent of the capital in the endowment fund, with remaining income generated on the fund being carried forward for eventual deposit into the capital account.