Ref. No. 92
DATE: March 2, 2000
SUBJECT: Irving Oil Newfoundland provides largest endowed scholarship to Memorial University
Memorial University of Newfoundland's Opportunity Fund has received a generous gift from Irving Oil Newfoundland. The $255,000 donation, the final pledge to the university's Opportunity Fund campaign, will provide several entrance scholarships for full-time students from Newfoundland and Labrador, including the university's largest endowed scholarships worth $6,000 each. Endowed scholarships are awarded each year in perpetuity and are funded through the interest earned on a donation.
Arthur Irving Jr. of Irving Oil Newfoundland visited Memorial University in December 1999 to personally present the cheque. While making the donation, Mr. Irving expressed satisfaction in being a contributor to the Opportunity Fund.
"Irving Oil Newfoundland has been part of Newfoundland since 1949, just like Memorial University," Mr. Irving said. "The people of Newfoundland have strongly supported our company for over 50 years, and we are very proud to have supported a variety of community initiatives here over the years. With this contribution to Memorial's Opportunity Fund campaign, we are pleased to support the education of deserving Newfoundland students and the continuation of Memorial University's leadership position in creating knowledge and opportunities for the province."
Dr. Axel Meisen, president of Memorial University, is pleased with the support shown by Irving Oil Newfoundland. "The financial commitment provided by Irving Oil Newfoundland will greatly benefit new students entering the university by helping to defray the costs of their education," said Dr. Meisen. "The establishment of new scholarships is a high priority for Memorial University, as they increase access to university programs for qualified students."
Two $6,000 entrance scholarships open to all Newfoundland students and at least one $3,000 entrance scholarship with preference given to dependants of full-time Irving Oil Newfoundland employees will be established from the donation. The first scholarships will be awarded for the Fall 2001 academic year.
Irving Oil Newfoundland's Regional Manager David French was also present at the cheque presentation ceremony. "I am very proud to be part of a company that is both supported by Newfoundlanders and committed to the communities of Newfoundland," he said. "Irving Oil Newfoundland is very pleased to sponsor major events in the province like the 1999 Canada Winter Games, to support the development of youth through our support of Bantam Hockey, and to support worthy community causes such as Big Brothers/Big Sisters."
The $255,000 donation is the final gift to The Opportunity Fund, a campaign that had a private sector goal of $25 million to be matched dollar-for-dollar by the provincial government. As of Nov. 30, 1999, $27.76 million in private sector pledges had been raised. Including provincial government matching funds, the campaign has achieved in excess of $55 million. The campaign closed on Dec. 31, 1999, and the final tally is underway.
For further information, please contact Ivan Muzychka, manager, Memorial University News Service, 709-737-8665, or David French, Irving Oil Newfoundland, regional manager, at 709 758-3011.