January 2006 ISSUE
FOUNDATIOn update
SIMPLE CREDIT CARD SWITCH HELPS BUILD THE FUTURE
BY DENNIS BROOKS, P.ENG., P.GEOPH.
Education Foundation Columnist
I’m now a card-carrying member of the APEGGA Education Foundation. No, the organization has not turned political.
I’m referring to our new affinity card, which allows you to support the foundation with every purchase.
I completed an application form that came with the announcement and took it into the nearest BMO branch, saying that I wanted to convert my existing Mosaik MasterCard to an affinity card. The bank explained that I didn’t need to complete an application for that; just phone the number on the back of my card, namely 1-800-263-2263.
After a short “punch-the-numbers drill,” I was talking to a customer service agent and the transaction was completed quickly. It was as easy as that to exchange my existing card for the affinity card.
If you haven’t already tried this, do it! If you don’t already have a BMO card, you will have to complete the application.
The card seems to have just the effect the bank intended. When I make a purchase, I reach for my affinity card first, knowing that the purchase will result in a small contribution to our foundation.
So far, only about 50 applications have been received, which to me is disappointing. But BMO is planning a marketing campaign, which will be at the company’s expense.
The $2-Million Target
On Nov. 16, I sat in on a Foundation Board meeting to hear first-hand what is
in the current business. As the Foundation PEGG columnist, this is a privilege
I have.
Ron Lawson, P.Eng., our treasurer, gave his regular financial report and also a report from the October meeting of the finance committee.
To Nov. 10, revenues were $137,202 and expenses $96,357, of which $93,000 went to scholarships, the greatest amount ever! Net assets have grown to $690,326 and the committee is looking to get a better return with minimal risk. Your foundation has set a goal of reaching $2 million in assets in the next three to five years; at today’s rates, this would ensure that our present program is sustainable.
This compares with $31,094 net assets at the end of our first full year of operation, Dec. 31, 1997! Nevertheless, the board feels an even larger number is achievable.
Funds for our new Centennial Scholarships have now been placed with the education institutions, which are expected to select winners in January. Announcements will appear in The PEGG by February or March.
The foundation continues to seek answers about whether matching grants will be available under the new Access to the Future Act and under what conditions. Foundation President Connie Parenteau, P.Eng., has written to the Honourable Dave Hancock, Minister of Advanced Education, to press this question.
Hall of Famer
I have been saving a clipping in my file from the Edmonton
Journal of Sept. 26,
stating that Life Member Dr. Charles Stelck, P.Geol., has been honoured by the
oil industry and will have his name engraved at the Canadian Petroleum Hall of
Fame. At age 88 he is still turning out learned papers on microscopic fossils.
Our whole Association owes him a debt of gratitude for service to our professions, including years spent on the Board of Examiners and the creation of a ceremony for geologists to parallel the engineers’ Iron Ring ceremony. Congratulations, Charlie!
Stepping Down
I advised the board at its meeting that I would be retiring as foundation columnist
at our coming annual meeting in March. I’m actually running out of things
to say! I can sympathize with those in the ministry who go on year after year,
but they at least have sacred books to draw on — while all I have is the
income tax and societies acts!
Because you will be reading this in December, I will once again give you my Christmas and season’s greetings, and remind you that this is the time for giving (and remember the foundation!) and for wishing for peace on Earth.