Annual Report
2000 - 2001

The NSAC Foundation had a very active year in 2000-2001.

In September following advice of the investment committee, all the individual accounts of the foundation were consolidated under a single pooled account and invested with Scotia Mcleod. This will make the investment policy as recommended by the committee and agreed to by board more easily and effectively managed.

In September of 2000 Jim Goit was appointed as Executive Director of the Development and External relations. He began to work on a plan to consolidate the operations of the various fund-raising arms of the NSAC into a more efficient and consistent operation.

The Foundation worked closely with the alumni executive to attempt to find a common base for future activates. Progress was made followed by a commitment to work more closely together in the future.

The Financial report of the NSAC Foundation shows that the Foundation accounts had moved ahead by $462,998 income over expenses. Of this amount $394,028 was money transferred from the provincial accounts were they had been previously invested. This was the last of the money invested in this way. The total amount expended on scholarships was $47,000. The total interest earned was $56,118.

The terms of Jim MacConnell, Margaret McCain and Herb MaRae came to an end in 2001 and replacements were not made until the next fiscal year. Thanks go to these people for their service to the Foundation.

The Foundation looks forward to the 2001-2002 year and the addition of resources to its fund-raising efforts.