Providence University College and Theological Seminary announces the establishment of the Providence Legacy Fund.
In keeping with the 2012 National Leave a Legacy Month, Providence University College and Theological Seminary announces the establishment of the Providence Legacy Fund (PLF). The PLF will receive investments to support the educational work of the University College and the Theological Seminary. Investments will be pooled and the earnings will be paid out annually to Providence. Earnings will support general operations or specific projects or programs designated by the donors.
President August Konkel notes that the PLF will provide a stable source of revenue for the institution. “Providence has a modest educational endowment fund with the Winnipeg Foundation. Income from the Winnipeg Foundation provides about $35,000 per year for scholarships for students who attend Providence. The Providence Legacy Fund is another way for people to invest in the education of people who want to become servant leaders in society and in the church.”
The Legacy Fund Committee is appointed by the Providence Board of Governors. Mr. Don Streuber, President and CEO of Bison Transport, is the chair of the arms-length committee. The committee oversees how money is invested and distributed.
The PLF receives endowment donations which are held in perpetuity where the income is used to sustain a named faculty chair, a named scholarship, or a particular academic program. It also receives trust donations where both income and principle are used to fund a project over a specified period of time, such as a “green” initiative, building maintenance, or to provide seed money for a larger capital project.
Executive Vice President, David Johnson, says, “Revenues from the Providence Legacy Fund will not only stabilize Providence budgets, they will also help propel Providence toward its goal of becoming a premier Christian University College and Theological Seminary in Canada. We want to provide a valuable post-secondary education to deserving and worthy students, and we want to help people who desire to gain ministerial training but may not have the means to do so.”
Providence has existed for 87 years. It was established as a Christian academic community in the evangelical tradition to teach people to grow in knowledge and character for leadership and service. Thousands of people have graduated from Providence and now serve in Canada and in numerous nations around the world. The undergraduate program has grown and changed so that it now offers university programs. Its largest programs are in the social sciences, teaching English to speakers of other languages, business administration, youth leadership, and biblical studies. The Seminary is fully accredited by the Association of Theological Schools and offers training in counselling, pastoral ministries, and graduate programs in teaching English. With 190 students, it is one of the largest seminaries in Canada.
Click here to learn more about the Providence Legacy Fund.
