The Board of the Manitoba Medical College Foundation has unanimously decided to transfer our endowment funds to the Winnipeg Foundation. This decision has been taken after careful discussion and evaluation of our organization.
As a volunteer organization dependent on annual contributions to finance our administrative costs, we have not been able to maintain our many initiatives on our own. As our costs have increased we have needed additional management fees which decrease our investment portfolio. This does not benefit our students in the medical college.
Our arrangement with the Winnipeg Foundation will ensure that our endowment funds remain intact in terms of the names and terms of reference for our funds. The only change will be the prefix MMCF attached to each fund. We are confident that the Winnipeg Foundation with its support structures, experienced people and long existence will grow and maintain our funds better than we could as an independent volunteer organization.
Donations to any of our funds can be made through the Winnipeg Foundation. Please make all cheques payable to the Winnipeg Foundation at 1350-One Lombard Place, Winnipeg, MB R3B 0X3. In the memo line please note “MMCF funds”. A link to the online donation feature will be available shortly.
The Winnipeg Foundation is currently celebrating its 90th year as a community foundation. It has 2,200 endowment funds, and last year supported 696 charities with grants of $21 million.
Diane Biehl
President, Board of MMCF February 8, 2011