February 11, 2015
$1 Million Campaign – Update
The Canadian Italian community has always viewed education and community service as the road map to a better career and life in Canada. The CIBPA took on this challenge by helping with community based fundraising for charitable causes and providing bursaries and scholarships to Canadian Italian students so they could get the head start required to prosper as Canadians.
On September 8, 2011 CIBPA Toronto and the CIBPA Foundation launched an official campaign to expand our education outreach program. The purpose of the campaign was to reach a cumulative total of $1 million for bursaries and scholarships.
On October 23, 2014 the Foundation distributed $24,000 to deserving students and an additional $8,000 was distributed directly through endowments with York University and Ryerson University. In 2015 U of T will be providing a bursary from the Paura endowment. This endowment will be a bursary based on significant financial need.
We are pleased to announce that Jackie Rosati has made a $5,000 donation to our Foundation. In addition KMPG donated $1,000 to our Education Program which was directed to a Vita Nova to help with their important community based program.
Since the start of our program the Foundation has distributed or established an endowment to an estimated $636,000. Over 835 students received a CIBPA bursary or scholarship. I am pleased to say that we only need $364, 000 more to reach our $1 million target.
Report on Endowments
Our first endowment was established at York University in 2008 and has flourished ever since. In addition to establishing endowments with funds matched by York we also participated in an Ontario Graduate Studies (OGS) double matching program that distributed $148,000 to 11 York graduate students.
The following is the Endowment Financial Report for the year ending April 20, 2014:
Seven named endowments with interest, in the amount of $326,000
- CIBPA Past Presidents and Ladies Auxiliary - $121,194
- CIBPA Ladies Auxiliary - $34,683
- Jackie and Elio Rosati - $33,609
- Jackie Rosati - $32,161
- Ralph and Rose Chiodo - $33,609
- Martinrea International – Danny Infusino - $38,583
- Anthony and Jesua Gagliano- $32,161
- Ralph and Rose Chiodo / Ted Rogers School of Business Management for Entrepreneurship endowment of $50,000 will provide ongoing bursaries for students in need.
University of Toronto
- Mario and Silvana Paura / University of Toronto a $50,000 endowment (equivalent*) will provide ongoing bursaries for students in need.
The estimated $426,000 in endowments will provide ongoing bursaries and scholarships to deserving students.
These bursaries and scholarships do come with strings attached. Our expectation for these students to stay in touch with the CIBPA. As CIBPA student alumni we hope that with personal prosperity that they too will financially contribute to the Foundation to help a student in need.
I have had the privilege of reading letters from past recipients and can assure you that we are making a difference.
If you are interested in learning more about the program or would like to make a contribution please call the CIBPA office at 416 782-4445.
With kind regards,
President CIBPA Education Foundation