Lisgar Fund


Donations are gratefully received at any time of year. Some employers match employee contributions on an annual basis thereby doubling the benefit to Lisgar Collegiate students.

Within the scope of the mandate of the Lisgar Fund, individual donors can give specific instructions for the onetime or periodic application of the supplied funds.

Donations to the Fund with unspecified use tend to be allocated by the Board of Directors to the Scholarship Fund, to specific LCI Departments, (such as the Math Department, Music Department, or Library), or to the General Contingency Fund in accordance to perceived priority of various requirements.

The Fund receives proposals from the various Department heads and these are presented to the Board of Directors for consideration of funding.

For administrative convenience and to improve investment returns, the various Scholarship Funds are lumped together and invested in the Community Foundation of Ottawa. The accrued interest payouts form the various monetary Awards presented to the students under the conditions of the original awards -- primarily for academic achievement.

As outlined by the mandate of the 'Memorandum of Association' of the Lisgar Fund, the monetary assets not assigned to the Scholarship Funds are held in short term notes at the Ottawa - Carleton Education Credit Union.  In compliance with requirements of the taxation rules governing the management of this type of fund, 85% of this amount (averaged over a five year period) is spent annually on the projects that are proposed by the Departments.