Education of Youth in Gratitude to God for Many Blessings Received,” Is Undergoing Renovations This Summer
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The Irish Review A quarterly publication for the Vancouver College Community Issue 3 April 2006 McCormack Hall Renovations Development Continue Permit in Hand McCormack Hall, donated in 1927 by James D. McCormack for “Education of Youth In Gratitude to God for Many Blessings Received,” is undergoing renovations this summer. Since it was Working Drawings Near Completion built, the hall has gone through many changes. Some of you may remember that the third floor was remodelled at one time With development permits in hand and the working drawings for the three capital phases (science to provide space for handball, midget basketball, a dark room centre, sports centre and new chapel) almost completed, the next stage in the timeline is to put the for photography and even a cadet firing range. job out for tender. Fundraising continues in the meantime with the focus on the much needed sci- The third floor now houses the senior library, the second ence centre and sports facilities that include a second gymnasium and a two storey fitness complex. storey comprises middle school classrooms, and the first floor Vancouver College is dedicated to providing an exceptional educational experience by developing contains the elementary school. Thanks to fund raising the whole person. Physical activity and sports participation are both a tradition and an integral part activities this past year, the middle school classrooms will be in the development of well-rounded young men. Students learn more than the sports they’re renovated, modernizing them to today’s standards—replacing involved in; they also learn about commitment, sacrifice, self-discipline, dedication, teamwork and the temporary wall system, carpets, fixtures and sprucing up sportsmanship. These attributes make our young men not only good sportsmen but also good with a coat of paint. students and good citizens of the future. The new Sports Centre will provide the College with the Additional renovation plans throughout the school are slated facilities it needs to meet the physical fitness demands of all students and their pursuit of excellence. but require help to make them happen. Gifts made to the Once funding is secured, the completion of the working drawings will keep us on schedule to Blessed Edmund Rice Annual Fund help provide funds for break ground later this year as originally scheduled. To find out more about how you can get ongoing renovations. Contact Kim Findlay at 604-261-3755 or involved, please contact the VCMF office at 604-261-3755. email [email protected] to see how you can help. Th e Gift of Education A look at the three levels of the fitness centre: second floor view of the weight room, basement view of the new change rooms and main floor view aerobics room Leave your legacy for tomorrow and new adjoining gymnasium. Your planned gift to Vancouver College is price- less. It ensures that students can pursue their dreams and will pay dividends in society forever. To create a legacy that will make a difference to students, contact the Vancouver College Millennium VC NEWS STUDENT NEWS ALUMNI NEWS • Business Report • Admissions on the • Alumni Branch Office • Financial Report Rise in Toronto The • Upcoming VC Events • RIP Strength of Tradition • Sports Highlights • In the News The Pursuit of Excellence 2005-2006 • Where are they Now INSIDESPECIAL GIFTS • Reunions VC News Vancouver College Limited VCL Business Report Trustees for Year Ending June 30, 2005 David Brind John Nixon (VC’69) Businessman President, John Nixon Public Affairs The fiscal year, ending June 30, 2005, was successful from a business point of view. Student Bruno De Vita Consultants Ltd. enrolment was close to full capacity in all grades, except grade 12. Operating revenues from the Partner, Alexander Holburn Most Reverend, provincial government amounted to $2,916,140, paid at a rate of $3,095 per FTE (full time Msgr. Stephen Jensen Raymond Roussin, Archbishop equivalent – a kindergarten student counts for half an FTE) up from $2,996.50 per FTE in the Episcopal Vicar for Education of Vancouver previous school year. Tuition fees paid by parents generated $3,526,562. Regular tuition fees were $3,850 per student, although discounts are available for families with more than one son attending. Tuition was raised 2.6% to $3,950 for the current year. Board of Directors Salaries and Benefits accounted for $4,497,571 or 72.3% of expenditures. Academic Operations Chair David Hardy at $249,118, Administration at $394,999, Maintenance at $626,296 and General Expenses at $151,403 John Nixon (VC’69) Principal, Vancouver College Limited President, John Nixon Public accounted for the remainder of Operating Expenses. Affairs Consultants Ltd. Father Ian Stuart (VC’70) The school had an operating surplus of $811,279 for the year ending June 30, 2005. The school Pastor, St. Anthony’s Parish Vice Chair was able to pay $1,088,750 of the principal and $730,892 of interest on the settlement loans due to Lauri Ann Fenlon John Kettlewell a generous donation from the Archdiocese of Vancouver, donations to the VC Millennium Partner, Fasken Martineau Businessman Foundation and the surplus from the operations of the school. Peter Bull Brother Anthony Murphy At the end of June 2005, the balances on the loans with the Bank of Montreal totalled President, Blenheim Realty Ltd. President Emeritus, $13,386,250 down from $14,475,000 from the previous year end. In July of 2004, the settlement Vancouver College Limited John Cordonier loan was divided into three loans, one each of five-year and three-year terms and a portion with Vice President, Development, Bob Stewart a floating rate that can be pre-paid if possible. All three loans have interest and principal Bentall Group Retired Chief of Vancouver Police payments on a monthly basis. The interest is estimated at $698,565 in the current year and the Teresa Domingo Dr. David Sylvester principal payments are $723,750. Senior Human Resources Manager President, Corpus Christi College HSBC Bank Canada Cathy Thornicroft Brother John Gale Principal, Sands Secondary School Vancouver College Limited President, St. Thomas More Statement of Financial Position Dr. Stephen Ho (VC’82) Dr. Michael Varelas (VC’76) Radiologist, Vancouver General June 30, 2005 Neurologist, Hospital Richmond Hospital Christine Chan ASSETS Brother Michael Segvich Chartered Accountant 2005 2004 Director of Education, Six Christian Brother Hugh O’Neil Brothers Schools, USA Province Leader, Christian Brothers Current Assets Cash$ 307,318 $ 403,839 Accounts Receivable 129,398 122,223 Prepaid Expenses 109,965 110,140 Vancouver College Millennium 546,681 636,202 Foundation Members Capital Assets 5,819,870 5,610,403 $ 6,366,551 $ 6,246,605 Jim Clarke Marilu Mayuga President, First Key Corporation Human Resources Consultant LIABILITIES AND NET ASSETS Sharon Federal Controller, MacDonald Realtors Most Reverend, Current Liabilities Jeff Lowe Raymond Roussin, Partner, RBS Lawyers Archbishop of Vancouver Current portion of capital loans 3,261,250 14,475,000 Accounts & Wages payable 807,642 866,292 Deferred Revenue 864,084 743,133 Due to VCMF 1,304,009 655,801 Directors 6,236,985 16,740,226 Chair William O’Brien (VC’70) Paul Chisholm Financial Consultant Capital Loans 10,125,000 President, IFD Corporation 16,361,985 16,740,226 Trevor Armstrong Roger Robillard (VC’72) Net Assets (9,995,434) (10,493,621) Partner, Hamilton Duncan President, Morgan Brake & $ 6,366,551 $ 6,246,605 Armstrong & Stewart Clutch Ltd. Dr. Tony Holler Barrie Smythe Chairman of the Board Chairman, Medsurge Medical Products Corp. Craigmont Mines Vancouver College Limited Statement of Revenue & Expenses For the Year Ended June 30, 2005 Campaign Leadership Committee Tony and Barbara Holler Kim Findlay, 2005 2004 Campaign Co-Chairs Managing Director, Vancouver Revenue College Millennium Foundation John Nixon (VC’69) Government funding$ 2,916,140 $ 2,726,457 Leadership Phase Chair Nadyne Montgomery Tuition fees* 3,526,562 3,126,599 Parents’ Phase Chair Paul Chisholm Donations, fundraising and Major Team Co-Chair Larry Blaschuk other income 589,910 475,716 Recruitment Team Chair 7,032,612 6,328,772 Alexandra Robinson Major Team Co-Chair David Hardy President, Vancouver College Expenses Celso Boscariol Partner, Peter Dodge Academic operations 249,118 225,001 Watson Goepel Maledy Businessman Administration 394,999 427,715 Amortization 301,946 285,635 General expenses 151,403 136,852 Vancouver College Alumni Association Maintenance 626,296 633,843 Executive Committee Salaries and benefits 4,497,571 4,496,882 6,221,333 6,205,928 Steve Eivemark ’89 Tom Beechinor ’70 President Editor, Newsletter Operating surplus before debt service 811,279 122,844 Jack Murdock ’63 Dir. of Membership Michael Stephenson ’93 Capital donations, net 417,800 1,057,600 Member at Large Interest on capital loans (730,892) (738,061) Steve Jagger ’96 Web Master Taylor Biggar ’96 Net Operating surplus$ 498,187 $ 442,383 Greg Lynch ’79 Member at Large Director of Finance Larry Biggar ’69 Dan Lavery ’77 *Net of financial assistance totaling $265,380 (2004-$285,851) Reunion Liaison Alumni Network Champion The Strength of Tradition The Pursuit of Excellence Student News Admissions Upcoming VC Events on the Rise Shakespeare by Candlelight Alumni Basketball Tournament by David Hardy, Principal April 27 and 28, 2006 at 7 pm May 26/27, 2006 SOLD OUT Contact Steve Jagger ’96 at [email protected] “A Midsummer Night’s Dream” under a beauti- or John Robertson ’94 at jrobertson@ccnmath- Vancouver College held its annual Open House in February, ful tent by candlelight on the campus of followed by the Entrance/Admission exam. The school was ews.com for details. overwhelmed with over 750 prospective parents and students Vancouver College. The cast list, involving participating in the Open House—the largest turnout in Grade 10s from Vancouver College, Little Graduation Commencement anyone’s memory.