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2009 Projects & Activities

Scholarship program
This year saw the largest number of applications as of yet, with 67 students applying for a scholarship for the academic year 2009-2010. This figure includes 7 recipients from the previous year who wished to renew their scholarship and it represents a 20% increase compared to 2008, but only a 10% increase when compared to 2007. After a thorough and careful review of all candidates, the Foundation decided to support 7 students, with amounts ranging from $1'000 to $2'500. All students were undergraduates studying towards a bachelor's degree or a diploma.

As in the previous years, the Foundation allocated several more scholarships than the 3 scholarships stated in our guidelines, since we are not yet supporting any other, larger projects besides the scholarship program. The reason for this measure is that under Swiss foundation law, charitable foundations are not allowed to build up too large financial positions in excess of their initial endowment.

Other activities
Besides the scholarship program, the Foundation supported Atlantic Canada's Family Expo. This is a yearly, two day exposition taking place in the greater Halifax area. The exposition gives parents and guardians access to experts on various subjects dealing with raising and educating children. After the organisators contacted us, the Foundation contributed a small amount to provide tickets for about 40 people. This allowed families and students who could otherwise not attend, to visit the exposition and take advantage of the offers available.

Besides this, the Foundation did not receive any other demands or requests to support a specific project or activity during the fiscal year 2009.

Financial situation
With the crisis of the financial markets being mostly over, the Foundation is happy to report that it has preserved its capital basis in its entirety, thanks to defensive and conservative investments. The current, lower interest rates will make it a little more difficult to generate significant income, but thanks to our reserves, we will be able to continue providing the same level of support to the students and people from Nova-Scotia as we have in the past.