2022/Sep/06
Class lunches in the east, and in the west, and the strategy for our scholarship fund.
Fall Class Lunch
We want to confirm the fall class lunch on Wednesday, October 19 at our usual haunt the Aberfoyle Mill. Please let us know whether you & your
spouse will be able to attend so we can confirm the body count with the restaurant.
Class of 1970 Chemical Engineering Scholarship
Bob Taylor received the following update on our class scholarship fund. As you will see, the fund continues to grow!
Objective: To get the endowment principal to $140,000 so it can support two scholarships of $2000 each assuming an annual payout rate of 3%. This will be accomplished in two stages. The first stage will focus on getting to the $70,000 endowment principal which will make the first scholarship sustainable from the endowment. Once that goal is reached, we will work towards raising another $70,000 to make the second scholarship sustainable.
Plan/Strategy to achieve the above objective:
• Total funds raised by the Class of 1970 as of December 2021 = $46,000. Of this amount, $40,000 will be used to establish the endowment and $6000 will be held in the trust account to top-off the payout generated by the endowment. Assuming the payout rate of 3%, the endowment will generate about $1200, and we can use $800 from the expendable trust account to support one scholarship of $2000. At this rate, the expendable trust account will support top-ups for about 7 years.
• Any new donations received in the next few years will be deposited into the endowment principal to reach the threshold of $70,000 asap to make the first scholarship sustainable from the endowment.
• After the first scholarship becomes sustainable, we will start giving out the second scholarship from annual donations saved in the trust account. The goal will be to save just enough money in the trust account to support the second scholarship and transfer the rest of the balance to the endowment principal to reach the $140,000.
Western version of Chem Eng Class of 70 Fall Lunch
On September 5, Brian Blackwell hosted a Class of ‘70 West get together which included Gloria McBain, Lanny & Sylvia Harris, Vic & Barbara Shantora and the guests of honour, John & Catherine Hilton.
John & Catherine have been living in Vancouver for 9 years and are enjoying the good life in retirement.
John mentioned that he continues to stay in touch with Hugh McGregor & John Engblom. Hugh & John enjoyed careers in the oil patch, with Gulf, PetroCanada and Suncor. They both live in Calgary.
John and Catherine Hilton
Lanny
Brian, Vic and Lanny
Vic, John and Brian
Looking forward to your replies and seeing everyone at the Aberfoyle Mill.
Tom & Vic
PS: And finally for your mouthwatering viewing pleasure, Brian’s made from scratch apple pies
Apple Pies
We want to confirm the fall class lunch on Wednesday, October 19 at our usual haunt the Aberfoyle Mill. Please let us know whether you & your
spouse will be able to attend so we can confirm the body count with the restaurant.
Class of 1970 Chemical Engineering Scholarship
Bob Taylor received the following update on our class scholarship fund. As you will see, the fund continues to grow!
Objective: To get the endowment principal to $140,000 so it can support two scholarships of $2000 each assuming an annual payout rate of 3%. This will be accomplished in two stages. The first stage will focus on getting to the $70,000 endowment principal which will make the first scholarship sustainable from the endowment. Once that goal is reached, we will work towards raising another $70,000 to make the second scholarship sustainable.
Plan/Strategy to achieve the above objective:
• Total funds raised by the Class of 1970 as of December 2021 = $46,000. Of this amount, $40,000 will be used to establish the endowment and $6000 will be held in the trust account to top-off the payout generated by the endowment. Assuming the payout rate of 3%, the endowment will generate about $1200, and we can use $800 from the expendable trust account to support one scholarship of $2000. At this rate, the expendable trust account will support top-ups for about 7 years.
• Any new donations received in the next few years will be deposited into the endowment principal to reach the threshold of $70,000 asap to make the first scholarship sustainable from the endowment.
• After the first scholarship becomes sustainable, we will start giving out the second scholarship from annual donations saved in the trust account. The goal will be to save just enough money in the trust account to support the second scholarship and transfer the rest of the balance to the endowment principal to reach the $140,000.
Western version of Chem Eng Class of 70 Fall Lunch
On September 5, Brian Blackwell hosted a Class of ‘70 West get together which included Gloria McBain, Lanny & Sylvia Harris, Vic & Barbara Shantora and the guests of honour, John & Catherine Hilton.
John & Catherine have been living in Vancouver for 9 years and are enjoying the good life in retirement.
John mentioned that he continues to stay in touch with Hugh McGregor & John Engblom. Hugh & John enjoyed careers in the oil patch, with Gulf, PetroCanada and Suncor. They both live in Calgary.
John and Catherine Hilton
Lanny
Brian, Vic and Lanny
Vic, John and Brian
Looking forward to your replies and seeing everyone at the Aberfoyle Mill.
Tom & Vic
PS: And finally for your mouthwatering viewing pleasure, Brian’s made from scratch apple pies
Apple Pies