York creates new Division of Advancement
As of May 1, 2011, the new Division of Advancement at York University assumed the functions of York University Foundation, Alumni Relations and Advancement Services. It is important to note that this transition is primarily a realignment of responsibilities within the University in order to function more effectively. All funds donated to York University Foundation remain strictly committed to the purposes for which they were intended.
Endowed gifts received by York University Foundation have always been invested jointly with York University endowed funds and have been managed by a joint investment committee. This committee, which is an existing committee of the Board of Governors, will continue to manage the funds. These funds will continue to be subject to the investment and distribution policies of the University, which were shared by the Foundation. York University will continue to provide reports on these endowed funds as the York University Foundation did previously.
More information regarding oversight and the investment management process for the endowment fund, including an annual report, investment committee reports and the Statement of Investment Policies and Procedures is available at the York Secretariat homepage.
Please note that all gifts to support York University, including gifts to existing endowed funds, should now be made payable to York University. We have been communicating this transition to our stakeholders by various means including e-newsletters and our website and are in the process of sending letters to individual donors.
For more information, please contact Lisa Gleva, director of principal gifts & university development, at 416-650-8245.