Category: Newsletters October 2015
SLCAO Building Fund and SLCAO Scholarship Fund
October 26th, 2015
Dear Members,
The Executive Committee is pleased to announce 2 long term initiatives;
SLCAO Building Fund
The main objective of this fund is to build enough capital to fund a Sri Lankan Community Center in the future. Money collected will be invested in a long term growth mutual funds and purchased via TD Waterhouse brokerage. The exact type of investment equity will be the decision of the Executive Committee (current and future) based on market conditions with advice from a licensed Investment Advisor.
SLCAO Scholarship Fund
The main objective of this fund is to build enough capital to finance an ongoing program of providing scholarships to an underprivileged school/individual in Sri Lanka or in Canada. The founding stone to this initiative was placed when SLCAO undertook and implemented a one-time Scholarship fund raiser in the 2013/14 EC year to a Primary school in Mangala Eliya in Sri Lanka (see youtube video here http://tinyurl.com/ng3xu6r). At the 2013 Christmas party $470 was raised for this purpose and Past President Roshan Fernando personally delivered it to the School in Sri Lanka.
Moving forward from this year, monies raised for Scholarships will not be distributed, instead it will be invested. The returns of the investment will be used to fund the SLCAO Scholarship program. While we hope to raise as much as possible in the current year at least to fund 1 or 2 students, the majority of the benefit would be in the upcoming years. The Executive Committee will decide as to which underprivileged school/individual to be funded.
Money collected will be invested in dividend/income equity fund and purchased via TD Waterhouse brokerage. The exact type of investment equity will be the decision of the Executive Committee (current and future) based on market conditions with advice from a licensed Investment Advisor.
Please stay tuned for the upcoming fund raisers to support these two causes.
Thank you
SLCAO Executive Committee