Supporting Students…Transforming Lives
The Cornerstone Program provides student financial assistance. Redeemer has made a commitment to its students to provide an amount equivalent to twenty percent of tuition fees. For the current fiscal year, this requirement is $1.8-million.
Under the Cornerstone banner, a number of existing activities will continue and new initiatives will commence. The mandate of the program is to:
- continue the fundraising focus of the former Redeemer Foundation;
- sustain funding provided by the Support Our Students Campaign;
- maintain and expand a segment of major gift donors;
- create an ongoing focus for support designated for student financial aid;
- initiate a separate fund for contributions earmarked for financial assistance;
- offset annual deficits incurred, in part, by operating funds allocated for financial assistance;
- establish an endowment, eventually providing permanent funding for financial assistance.
The Cornerstone slogan, Supporting Students...Transforming Lives, describes the importance of financial assistance -- enabling Redeemer students to focus on their studies and participate in Christian community so they are equipped to impact others who they encounter in their lives.
Cornerstone Partners
To maintain and expand the level of giving dedicated to student financial assistance, we will approach donors to join us as Cornerstone Partners. These will include:
i) Individuals: including alumni and parents of students (past and present)
ii) Organizations: churches, businesses and foundations
Partners will be asked to contribute at an annual minimum level of $1,500.
Cornerstone Partners will receive a bi-annual newsletter and an invitation to an event at Redeemer, likely a dinner and concert in the fall.
Cornerstone Fund
Contributions from partners will be designated and used exclusively to provide funding for scholarships, bursaries, loans, and work study programs. Donors will continue to have the option to establish annual and endowed scholarship and bursary funds with specific criteria.
In addition, there will be an initiative to build a general endowment, again designated for financial assistance. The annual income generated from this fund will be contributed (based on disbursement policies) to bolster the amount of funding available on an annual basis to students for financial assistance.
Contributions to the Cornerstone Fund will also include proceeds from the annual golf tournament and giving from churches through collections and ministry shares.