About Endowing a Prize, Scholarship, or Other Award
Endowed Awards are created by making a single lump sum payment that
is invested by the IEEE Canadian Foundation. The award is funded from the
annual investment income.
Make a Directed Gift. The IEEE Canadian Foundation welcomes directed
gifts from individuals, associations, corporations and foundations.
These are used to endow annual awards that meet worthy but unfilled needs,
and further the purpose of the donor and the IEEE Canadian Foundation.
Benefits to Donors. Directed gifts provide an excellent opportunity
for donors, in accordance with the policies of the IEEE Canadian Foundation,
- Recognize or commemorate individuals or organizations, through the naming
of the award;
- Create awards to publicize an area of knowledge, geographic area, or
- Establish selection criteria for such awards in accordance with donor
wishes, while respecting Canadian laws and regulations that govern the
activities of the foundation.
Size of Awards. The annual value of an award is the investment income
of the gift which is a guaranteed minimum of 5%.
For example, a gift of:
- $10,000 (the minimum directed gift) establishes an annual award of $500;
- $20,000 establishes an annual award of $1,000;
- $60,000 establishes an annual award of $3,000.
Types of Awards. Grants are typically used to finance special projects
or learning opportunities for students. Scholarships and prizes typically
recognize academic or volunteer excellence; bursaries address cases of
personal financial need of students.
Directed Gift Memorandum. Naming, area of focus and selection
criteria should be discussed and documented in a directed gift memorandum
executed by the donor and the IEEE Canadian Foundation, prior to the actual
contribution of funds. This will include;
- defining who presents the award
- defining who is responsible for establishing the selection criteria
- defining who is responsible for selecting the qualified recipient
Registered Charity. The IEEE Canadian Foundation is a Canadian
Registered Charity. All individual donors will receive official
receipts for Canadian income tax purposes.
IEEE Canada Major Awards can be endowed through the foundation -
page lists these awards and the ones available for sponsorship.