Anniversary endowed funds

Over time, LLIR has established three anniversary continuing endowed funds at Glendon (our 25th, 35th and 40th). The aggregated capital value (i.e. initial gift plus accumulated earnings minus previous awards) of these anniversary funds is about $ 276,000. An endowed fund releases 4% (of the capital value) each year for awards (grants) to students who meet the criteria for financial aid. This past year, 11 awards were granted from these anniversary funds totaling just about $11,000.

Anniversary expendable funds

For its 45th anniversary, LLIR established two expendable funds of $12,500 to fund five years of awards of $2,500 each for two students: one award for a refugee student and the other for a mature student living at home. A total of $5,000 was awarded this past year to two such students.

LLIR Glendon Student Hardship Fund

The Hardship fund is an expendable fund, a source of funds for students facing acute short term financial hardship while at Glendon. The students qualify for one-time grants to help continue with their program. This fund was originally established by Friends of Glendon (FOG) but in fiscal year 2021 LLIR members alone donated $30,000 to the fund. In fiscal year 2022, 8 grants aggregating $6,050 were awarded from this fund to qualifying students. The remaining expendable balance continues to be used for the same purpose.

LLIR Glendon Student Opportunity Fund

This is a new fund, a hybrid endowed/expendable fund, established by LLIR at the end of fiscal year 2021 with a capital contribution of $25,000. The capital portion is invested and will be a source of awards in the future (as is the case with the endowed anniversary funds). During fiscal 2022, LLIR members contributed almost $21,000 to the expendable portion of the fund and $3,000 was awarded to two students.