News Release

REF NO.: 82

SUBJECT: College of the North Atlantic and Memorial University students to benefit from combined gifts totalling $7 million from The Joyce Foundation

DATE: November 26, 2014

History was made today as College of the North Atlantic and Memorial University of Newfoundland accepted combined gifts totalling $7 million from The Joyce Foundation. This marks the single largest donation ever received by each institution from a foundation.

The foundation, created by Canadian entrepreneur Dr. Ronald Joyce, is providing $2 million to College of the North Atlantic and $5 million to Memorial University to create bursary funds that will assist students who are committed to education but face critical financial need and personal challenges to attend post-secondary education. Students who wish to attend College of the North Atlantic or Memorial and meet these criteria will benefit directly from these gifts.

At College of the North Atlantic, the donation will be used to establish the Joyce Foundation Bursary, which will provide qualified students with up to $4,000 per year to pay for tuition and associated educational expenses, renewable for up to three years. In addition to the financial support, the college’s program will pair the student with mentors to expand their learning opportunities and provide a broader range of experiences.

“This single donation is the largest ever received by the college and speaks to the importance of the college, its program offerings and the contributions our graduates make to the economy of this province each and every day,” said Ann Marie Vaughan,

president and CEO, College of the North Atlantic. “There are numerous people throughout our province who cannot afford to pursue post-secondary education. This gift will allow these deserving individuals who have the desire and the ability to succeed in college to do so by removing the financial barriers. On behalf of everyone at College of the North Atlantic, and the many students who will be able to access a college education because of this generosity, I would like to express my sincerest thanks to Dr. Joyce and The Joyce Foundation.”

Memorial University will establish The Joyce Foundation Bursary, renewable bursaries of $5,000 per year for up to four years for full-time students, covering tuition, required fees and supplies. Memorial will develop an outreach strategy to inform prospective university students about the new bursaries while they are still in high school.

“This landmark gift will have a tremendous impact on the students who need it most,” said Dr. Gary Kachanoski, president and vice-chancellor, Memorial University.

 “This goes a long way in helping us meet our responsibility to the people of Newfoundland and Labrador, which is to improve the lives of people and communities through education. We are so grateful to Dr. Ron Joyce and The Joyce Foundation for this wonderful investment in our students and our province.”

Today’s gifts were announced during a ceremony at Holy Heart of Mary High School in St. John’s. Dr. Joyce said the foundation aims to empower young Canadians by providing increased access to education.

“Education is vital to the social and economic health of individuals, families and communities,” said Dr. Joyce. “I am delighted that this gift will help young Newfoundlanders and Labradorians, who would otherwise have no opportunity or means, to realize their full potential. Nothing makes me happier than to support students who have managed to keep the drive, motivation and desire to learn, despite the adversity in their young lives. I believe they will do great things. We just have to give them the opportunity.”

 The Joyce Foundation (formerly The Ron Joyce Foundation) is a private, family foundation created by Canadian entrepreneur Ronald V. Joyce and is based in Burlington, Ont.

- 30 -