The UVic Torch · University of Victoria Alumni Magazine · Spring 1998

Development News

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UVic Foundation: Lasting Legacies

The University of Victoria Foundation keeps watch on approximately $75 million in more than 600 separate endowment funds. Established more than 40 years ago, the Foundation acts on investment advice to achieve capital growth while protecting the funds against inflation.

Endowed funds are created to ensure support for programs is available in perpetuity rather than for just one year. For example, Allen Vandekerkhove, former owner of the Payless Gas chain, created an endowment fund with a gift of $1 million&endash;which was matched by the provincial government&endash;for the Centre for Studies in Religion and Society. The fund has been steadily growing while providing an annual allocation to the Centre.

Not all endowment funds are arranged to last for an extended period. The Asia Partners Fund, for example, is a quasi-endowment (providing a specific amount over a limited time) created to support internationalization efforts at UVic.

Jane Heffelfinger, past-president of Pacific Opera and a former director of development at Simon Fraser University, has been on the Foundation board of directors for the past three years, "working to build support for, and an interest in, the excellent teaching and research at UVic," Heffelfinger says. "I am a firm believer in the importance of post-secondary education and am thrilled to be able to play my part as a board volunteer."

Fellow board member Ron Cook is a Victoria-born lawyer who served on the Commonwealth Games board of directors. He says working with the Foundation has provided him with a better understanding and appreciation for the role of the university in the community. "I have learned a great deal about the ways people can give to a charity and hope that I can continue to help attract much needed support to the Foundation which supports our university."


THANK YOU...

to everyone who participated in the 1997/98Annual Giving Campaign. And to all who were contacted by a student, your time was especially appreciated.

Remember, it's not too late to show your support if you haven't already!

Donations may be sent to:

Development Office, University of Victoria, STN COMML SERVCNT, BOX 3060, Victoria, BC V8W 3R4


For information on Annual Giving, please contact:

Catharine A. McLeod, Annual Giving Coordinator
Development Office
University House 1
University of Victoria
Victoria, BC V8W 3R4
Tel: (250) 721-6003
Fax: (250) 721-8961
email: cmcleod@uvic.ca


Infant and Toddler Centre Gains Support

UVic's "Caring for the Future" campaign has received more than $400,000 in grants to create an infant and toddler child care centre on campus. A generous grant of $272,000&endash;more than half the grant money received so far&endash;has been donated by the Lou-Poy family of Victoria. Family member Ron Lou-Poy was on the UVic Board of Governors from September 1991 to February 1995. He was also a board member in 1972.

The donation from the Lou-Poy family is the latest (at time of publication) in a series of generous offerings to the Caring for the Future campaign from foundations, individuals and campus organizations.

The Vancouver Foundation has donated $30,000, the University of Victoria Students' Society $20,000, the McLean Foundation $6,000, the Alumni Association $3,000, the Faculty Association $2,000, and an anonymous donor has given $3,000.

UVic faculty, staff and alumni have individually donated grants totalling $24,000. The UVic President's office has provided matching grants of $41,000.

The new infant and toddler centre will provide 21 new spaces&endash;12 for toddlers from 18 to 36 months old and nine for infants from 3 to 18 months.

The total cost of the new facility is estimated at $828,000 with completion scheduled for late spring 1999.


Gifts of Shares

With recent changes to taxation on gifts of shares, our donors and their financial advisors are starting to realize the tremendous benefits of making such gifts. When a gift of 'listed securities' is made directly to a charity, the donor pays only half the tax on the capital gain. The University and its foundations have received six gifts of shares in the past few months:

If you would like to discuss how you can make a gift of shares and save taxes, call Kayla Stevenson, Director of Development & Gift Planning at (250) 721-8964 or 1-800-808-6828.

MEMENTO MORI

Eugene H. Weigel (1911-1998)

Eugene Herbert Weigel, aged 87, passed away of natural causes at his home in Victoria on January 29, 1998. He was pre-deceased by his wife, Beatrice Kopp in 1991. Eugene was a great friend and supporter of our University, particularly the School of Music and the Lafayette String Quartet.

At age 18 he was a violinist in Cleveland Ohio's training orchestra. There he met three other string players and together they founded the Walden String Quartet, the first professional quartet comprising American-born musicians. The Walden Quartet was a strong promoter of 20th century American composers and presented nearly 200 world premieres, including Charles Ives' Second String Quartet.

It came as no surprise to those who knew and admired Eugene that prior to his death he established a substantial trust known as the B.K. Endowment Fund in honour of his late wife whose lifelong delight was the support of the music of our time. This special fund is for "the express purpose of furthering the performance and proper recording of contemporary classical music. The Fund will be international in its scope/vision and it is expected that the Lafayette String Quartet and all subsequent resident string quartets will 'actively promote' the search for new compositions written for string quartet which have not already been professionally recorded. As well, these works will be performed in the annual B.K. Concert on the UVic campus (and ideally elsewhere as well) and also be recorded as soon as possible thereafter."

Given Eugene's firm belief that "audiences ought to be actively involved in the process of making music," it was his sincere wish that others might wish to set up similar trust arrangements or make bequests of their own. If such proved to be impractical for interested audience members, he hoped they might nonetheless choose to support this initiative. He saw that with such support it would be reasonable to expect that the B.K. Fund and annual concerts will continue to grow in size and international stature.

Gifts in Gene's name may be directed toward the B.K. Endowment Fund and sent to the University of Victoria, Development Office, University House #1, PO Box 3060, Victoria, B.C., V8W 3R4.For further information please contact Allan Berezny, Manager -Special Projects, Tel. (250) 721-7690 / Fax (250) 721-8961.


Giving on the Web

UVic Development has a new web site. Check out web.uvic.ca/development for more information on giving to the University. Preparing your will? The page on bequests gives a few suggested clauses and information on choosing an executor. Considering ways to give a donation and receive an income for life? The pages on gift annuities and charitable remainder trusts may be of interest. There is also information on the tax benefits of giving and the tax credit changes announced in February's budget.


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