IEEE Canadian Foundation
Annual Meeting of the Members, April 5, 2007
Growing as a Canada-wide Foundation
Representation from All Parts of Canada - We are making progress in involving more Members
from more Sections in the activities of the foundation. Over the past three years the percentage of
Sections with foundation members has climbed from 50% to 60% to 80% and will reach 95% if this
year’s nominations committee recommendations are approved. I believe this opens the door to
greater dialog with Sections and their Student Branches, and I hope we can explore mechanisms to
take advantage of this opportunity.
Investment and Disbursement Policies - We are also making progress in managing our
investments to be more attractive to potential donors. At our December 2006 meeting, our board
decided to accept the recommendation of an ad-hoc investment policy review committee, chaired by
Hugh Swain, to diversify our investments which were limited to no-risk bonds and GICs with the
attendant low rate of return. The new policy includes blue chip stocks and income trusts. This
represents the beginning of a careful evolution from the original investment concept, which was to
preserve the original capital, to one which permits an increased return with very low risk. Given the
investment term for each of our current investments, it will take time to fully transition these
investments to reflect the new policy. Our investment advisor at BMO Nesbit Burns has been
invited to attend this meeting to answer your questions. The AGM will be asked to approve this
change in investment policy.
Promotion of the IEEE Canadian Foundation within IEEE Canada
Our current spending model is to disburse all of the previous year’s income from investments and
non-directed donations. Other than the fact that some awarded grants are not fully spent, this policy
implies that we are not maintaining our reserves when inflation is taken into account. To be a
successful foundation in the long term, we need to be able to fund our program of grants, preserve
our financial base over time (including inflation), be attractive to donors, and grow our activities.
I mention two challenges for us. One - IEEE Canada has several new medals and we have an
opportunity to fund these medals from directed donations. Two - Canadian IEEE Sections have
awards programs and we have an opportunity to partner with them in seeking directed donations to
fund these awards.
• Your president attends the IEEE Canada Board meetings to inform that board in general,
and the Section chairs in particular, of the activities and capabilities of our foundation.
Linkages with the IEEE and the IEEE Foundation
• Your treasurer, Luc Matteau, attends the annual IEEE Canada Student Branch workshops to
provide information about our Scholarships and Grants and the process for successful
application - directly to the Student Branch representatives who attend.
• Your student branch liaison chair (and IEEE Canada Student Activities chair), Janet Bradley
provides additional interactions and information flow.
• IEEE Canadian Foundation Scholarship certificates are presented to Section chairs at the
spring IEEE Canada meeting for subsequent local presentation to the recipients and the
names of the recipients are published on the IEEE Canada Awards web site.
• I attended the Ryerson University Awards Ceremony and presented a foundation
Scholarship and spoke briefly about our foundation.
We presently have two direct linkages;
Awards and Recognitions of Foundation Members
• I am a director of the IEEE Foundation and serve on Project Review and Audit Committees.
• Wally Read is the chair of the Trustees of the IEEE History Center and an ex-officio member
of the IEEE Foundation Board of Directors
• Additionally, IEEE receives a copy of the report that I present to IEEE Canada at the Spring
Board meeting, and I intend to submit a copy of that report to the IEEE Foundation under
their liaison reports.
• We have the pleasure of welcoming IEEE Foundation President Richard J. Gowen to this
meeting – he will address us under liaison reports.
Several of our members have been recognized in a variety of ways:
• Wally Read received the EIC’s highest award at their March 2007 Awards Gala in Ottawa.
Established in 1927 and awarded every other year to commemorate the great service
rendered to engineering by Sir John Kennedy, a Past President of the EIC, this medal is the
most distinguished award of the institute. It is awarded in recognition of outstanding service
to the profession or for noteworthy contributions to the science of engineering or to the
benefit of the Institute.
• Don Koval was inducted as a Fellow of the EIC at the same ceremony.
• Adam Skorek has been awarded the 2006 RAB Leadership Award.
I thank all my fellow members of the IEEE Canadian Foundation, the volunteer leadership of both
IEEE Canada and the IEEE Foundation, for your dedicated volunteer efforts.
Robert T.H. (Bob) Alden, Ph.D., P.Eng., F EIC, LF IEEE