Provincial Access to the Future fund stalls on recession

Pete Yee

BUILDING CREDIT A backlog of donations is mounting in the Renaissance Fund.

The Alberta government has provided grants to match donations to postsecondary institutions since 2005 — but this year, they’re running into trouble.

Alberta launched the “Access to the Future” fund in 2005, which consists of two programs. One program, the Renaissance Fund, provides grants to postsecondary institutions to match donations.

That fund is currently unable to match the vast number of donations being given to institutions. The University of Calgary, for instance, has about $160 million in donations waiting in the queue to be matched. But since the fund’s creation, the U of C has only received $5 million a year with which to match donations.

U of C President Harvey Weingarten said that the program has created unrealistic expectations.

“People are expecting a match as a result of the creation of this program. The monies that are available in the Access to the Future fund cannot keep up with the donations we are actually receiving,” he said.

Weingarten also said that it forces institutions to manage their relationship with donors in ways that could inhibit donations, rather than encourage them.

“When we speak to a possible donor about a donation to a university, and the issue of matching is raised, because they know that a program like this was created, we have to be candid with the individual that there’s a wait until we actually receive some of the funds.”

Weingarten did say that the government deserves credit for setting up the program, but now they have to manage the success.

“I have no quarrel with the intention. It was a smart program to set up and it was very successful. But now, the success itself has created some difficulties,” he said.

Weingarten also stated that the initial plan for the fund as an endowment might not be the most efficient way to manage it at this point.

“The government set up the program with the expectation that it would be an endowment and we would draw from it on an annual basis, and now because of the nature of the circumstances we’re in, it’s reasonable to think about that decision,” Weingarten said.

Rachel Bouska, spokesperson for the Ministry of Advanced Education and Technology, said that postsecondary institutions are satisfied with the fund management.

“The Access Advisory Council actually conducted a review [which] examined how the Renaissance Fund could best meet its goal of stimulating donations, and that review included stakeholder consultations with presidents of institutions and fundraising staff, and they all actually supported the current design of the Access to the Future fund,” she said.

As for the future of the fund, Bouska explained that the ministry is unable to predict what the finalization of Alberta’s 2010 budget will bring.

“As of right now, currently there are no changes planned for the Access to the Future fund. But because Budget 2010 hasn’t been finalized and talks are still going on, I’m not sure what’s going to happen in the future,” she said.

Bouska did state that she feels the fund is living up to its mandate.

“It’s a real partnership that we have with the institutions and I think supporting them in gathering donations and things like that is always part of the plan.”

To date, the province has provided the University of Alberta and the University of Calgary with $15 million each. The University of Lethbridge, Grant MacEwan University, Mount Royal College, the Northern Alberta Institute of Technology, and the Southern Alberta Institute of Technology have each received $9 million.