FOUNDATION FOR KNOX COLLEGE AND SALMOND COLLEGE INC.
POLICIES & PROCEDURES
The Foundation for Knox College and Salmond College (Incorporated) is an independent body whose purpose is to establish and administer a fund consisting of property both real and personal for the benefit of Knox College and Salmond College and other institutions, properties and activities owned and administered by the Governing Body of Knox College and Salmond College.
The amount available for awarding grants shall be at the discretion of the Trustees, who shall nevertheless ensure that the principal amount in the Fund shall not be less than $1 million.
The Foundation my award Grants but shall not normally enter into Loan Agreements.
Any assistance requested from the Foundation must be by written application.
An application must be for a specific purpose, must be costed as accurately as possible, must specify the period during which the funding is required, indicate whether or not the application has the support of the Governing Body of Knox College and Salmond College, and include any other pertinent details and supporting information.
Where funding is sought for awards or appointments involving a selection process, the Trustees, recognising that the Governing Body of the Colleges makes final decisions, will, nevertheless, expect to be involved in some way by way of information and consultation.
Examples of purposes for which funding assistance is considering are –
– incentives that will attract senior and postgraduate students to live and study in both Colleges;
– long-standing and prestigious awards at Knox College, particularly the Ross Fellowship; and for establishment of similar awards for Salmond College;
– scholarships of various kinds to assist cases of financial hardship that might prevent suitably qualified candidates from attending the Colleges;
– appointment of Senior residential Tutors, and encouragement for re-establishing a senior student presence in both Colleges.
It would not be usual for the Foundation to consider applications for assistance with normal operational costs of the two Colleges, for retrospective projects, or for sporting events.
Successful applicants will be informed of the specific amount of the approved grant and any terms or conditions that may be imposed by Trustees. The grant may not be used for any purpose other than that specified in the application.
Grantees shall invoice the Foundation at times that money from the grant is required.