Bishop’s students will have one more reason to buy their coffee at Tim Hortons. The English-speaking university of 2,500 students has indeed received on Friday a donation of $ 2.5 million from the Joyce Foundation, created by Ron Joyce, co-founder of the chain of Tim Hortons coffee.
With this donation, Bishop’s plans received, next fall, scholarships up to $ 5,000 per student per year and for a maximum period of four years. Students eligible for these scholarships will be those who are experiencing financial or personal difficulties.
The Bishop’s Principal Michael Goldbloom, described the action taken by the Joyce Foundation “historic gift” that fits perfectly in the philosophy of Bishop’s offering a liberal education “human scale” in classes composed of thirty students.
The donation of $ 2.5 million will be converted into endowment funds whose interests will be used to provide scholarships. It is estimated that in five years, the fund will be able to distribute $ 112,500 in scholarships to eligible students.
“These are awards to be distributed, not based on student achievement, said Mr. Goldbloom, but on the personal financial situation of students. From the moment a student is admitted to Bishop’s and it has financial difficulties, it can make a request, “said the principal of Bishop’s stating that 62% of the Bishop of student’s already receiving grants and loans to continue their university studies.
Co-founder of Tim Hortons
85 years old today, Ron Joyce made his fortune when he sold his Tim Hortons shares to Wendy’s multinational in 1996. The former policeman Hamilton (absent during the presentation of the Bishop’s check) s ‘was friends with former hockey player Tim Horton early 1960. After selling its stake in Tim Hortons chain of coffee shops, it has decided to devote a substantial part of his fortune to help young people to achieve, said Aileen O’Rafferty, trustee of the Joyce Foundation.
“Early in his life, Ron Joyce lived in poverty, said Ms. Bishop’s O’Rafferty the students gathered in one of the rooms of the pavilion McGreer. He would have liked to go to university. That is why today the Foundation is to assist students who are experiencing problems in the financial or personal, because we believe that education is the best springboard to success and success. ”
The main Goldbloom explained that the decision of the Joyce Foundation to donate $ 2.5 million to Bishop’s was made through the intervention of the chancellor of the institution, Brian Levitt, with the former federal minister Ed Lumley , now a member of the Joyce Foundation.
“Brian Levitt knew that the son of Mr. Lumley, who works at BRP was a former student of Bishop’s and that her granddaughter was the captain of our basketball team last year. So he contacted Mr. Lumley and it invited our university to be a candidate. ”
This donation, he added Goldblom, will be recognized in the Bishop’s University fundraising campaign whose goal was set at $ 30 million.