(April 10, 2022) In 2018/19, Métis Nation British Columbia (MNBC) received $1.25 million dollars to establish an Endowment Fund to support Métis students in the pursuit of post- secondary education but Métis people in British Columbia have no idea where the money sits, nor what has happened to the income earned from the fund.
The $1.25 million dollar Endowment Fund was negotiated with the Government of Canada by the former President of MNBC, Clara Morin Dal Col in 2018 to help Métis students in BC pursue post-secondary studies. The capital amount of the Endowment Fund at $1.25 million would always remain, and the assistance for Métis students would come from the interest earned each year.
Since the Endowment Fund was established nearly four (4) years ago:
· Where is the money invested and in what form of investment?
· What is the annual rate of interest and how much money has been generated each year from the investment?
· How much of that money has gone to Métis students in each fiscal year, beginning 2018/19?
· How many Métis students have actually benefited from the fund each year, and in what form did they receive any benefit?
· What criteria was used to determine benefits, and who makes the decision on who receives the funds?
BC Métis Leader Clara Morin Dal Col said, “While the audited MNBC financial statements from March 31, 2021 report that the Endowment Fund of $1.25 million still exists – which it better be – we have no other information about the fund such as how and where has the money been invested, and how much money has been earned each year and how many Métis students have benefited.”
Ms. Morin Dal Col said, “When those funds were negotiated, it was with the full intent of helping Métis students be able to pursue post-secondary education when the costs of doing so would not be covered by any other Program”.
The BC Métis Leader said, “Now that MNBC has closed the books on the last fiscal year, this Board needs to be fully transparent and accountable about the Endowment Fund. Thousands of dollars should have been generated each year from the Endowment Fund to help Métis students, and Métis people in British Columbia have a right to know the answers to the basic questions that I am raising”.
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For further information:
Contact Clara Morin Dal Col
BC Métis Leader
Email: cmdalcol@gmail.com
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