In 1973, MUNFA established a scholarship trust fund for the promotion and encouragement of education at Memorial University of Newfoundland. When the capital of the Trust Fund reached a total amount of $250,000, all capital in excess of that amount, minus costs for management of the Trust Fund, is to be used for scholarships for MUN students. The MUNFA scholarships are available to full time or part time undergraduate students who demonstrate a high academic standard together with need of financial assistance.
Since 1973, many Academic Staff Members and staff of Memorial University have graciously donated to the MUNFA Scholarship Trust Fund. During the years of the Memorial University Opportunities Fund, when donations for scholarships to MUN were matched by Government, MUNFA made provision for the MUNFA scholarships to be included, designating that these matching funds also be used for scholarships. Many MUN students benefited. In the early days, the MUNFA scholarships were for an amount of $300.00; this was later raised to $600.00. These amounts reflected the tuition costs of the day. With changing times, and increased costs of university tuition, each MUNFA scholarship awarded today is valued at $2,500.00.
Many Academic Staff Members donated to the MUNFA scholarship trust fund throughout their careers. Many of those steadfast contributors have retired; some continue to contribute even after retirement. However, the number of contributors has decreased over the past few years; consequently there is less money available annually for scholarship awards.. MUNFA members may have noticed that each annual report has announced a decreasing number of scholarships awarded. In light of this situation, the MUNFA Scholarship Committee and the MUNFA Executive Committee is hopeful more of MUN's Academic Staff Members will consider contributing to this worthy endeavour
If every MUNFA member contributed an amount of only one ‘loonie' ($1.00) per pay period, ie. twenty-six ($26.00/annum), that would total approximately $18,200/annum -- seven (7) scholarships per year, in addition to the earnings on investments from the Trust Fund. This can be arranged as a payroll deduction and is tax creditable. MUNFA is once again appealing for contributions. If, when you check your mailboxes in the coming weeks and find a "loon," why not just return it to the MUNFA office with a contribution pledge.
Should MUNFA members wish to increase their current contribution, begin contributing to the MUNFA
Scholarship Endowment Trust Fund, or simply to send a contribution, please complete the
contribution form and return this to the MUNFA Office. A tax receipt will be issued at year end, or if you wish to receive your receipt immediately, please indicate this with your contribution.
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