Frequently Asked Questions
1. How will the SUSK Endowment Fund be overseen?
Every year, the SUSK Executive must put together a proposal for its plans for the year along with a budget which will be submitted to an oversight committee of the SUSK Endowment Fund who will work with the Executive to provide the funding. This committee is comprised of SUSK alumni, a representative from the Shevchenko Foundation, a representative from the Ukrainian Canadian Congress (UCC), along with an independent director. In addition, all member organizations of SUSK are invited to committee meetings to ensure transparency with its membership.
2. Can the principal balance be withdrawn at any time?
No, the principal in the fund can never be withdrawn, and may only be used for the SUSK Endowment Fund. Only the annual interest accrued from the SUSK Endowment Fund shall be provided to SUSK each year.
3. What is the Shevchenko Foundation and why are they managing the SUSK Endowment Fund?
The Ukrainian Canadian Foundation of Taras Shevchenko (“Shevchenko Foundation”) is a national, chartered philanthropic institution dedicated to the preservation, promotion and development of the Ukrainian Canadian cultural heritage and to the advancement of a flourishing Ukrainian community for the enrichment of Canada by providing leadership in building and sustaining a permanent endowment fund.
SUSK has established the SUSK Endowment Fund as a Designated Fund within the Shevchenko Foundation, which has delivered up to $6.4 million in grants in the last decade alone. By having the funds managed by an independent Board of Directors and staff, SUSK is ensuring that the Fund will be professionally managed in perpetuity.
4. What happens if SUSK dissolves?
SUSK is a fiscally responsible organization that has seen incredible growth over the last decade. However, should the organization fall inactive, the priorities of the SUSK Endowment Fund are as follows in ranked order:
- Revive SUSK, or another suitable national organization deemed as a legitimate successor.
- Support groups and projects that will enhance the Ukrainian Canadian student experience in Canada.
- Support Ukrainian post-secondary students in any field of study, with preference given to community involvement.
- The Shevchenko Foundation will deliberate the Fund for the enhancement of the Ukrainian community in Canada.
5. Who will benefit from this fund?
Students – SUSK helps to foster a sense of belonging, thus guaranteeing that first year students on campus will have a friendship group, people to trust and rely on for help or questions. This helps establish a launching point for students to further integrate into the university community. SUSK and Ukrainian student organizations help teach applied skills to students, including marketing/social media, budgeting, event planning and fundraising.
Ukrainian Community – Keeping students active in student organizations ensures that young Ukrainians will maintain engagement with the broader Ukrainian community. SUSK is unique in that it helps attract newcomers from Ukraine, as well as students who may not have previously been involved in the organized Ukrainian community.
Canadian Community – SUSK raises awareness of Ukrainian topics to the general public across campuses, and beyond (e.g. print media, TV, radio). Strong organized youth bodies contribute greatly to Canada’s multiculturalism – the heart of Canadian identity.
SUSK Legacy and Future Community Leaders – A sustainable SUSK will ensure that the organization will be able to adapt and continue to serve its mandate to Ukrainian students for decades to come, ushering in new generations of future Ukrainian Canadian leaders.
6. Why is this important?
- The “Finding Belonging, Creating Leaders” campaign will lay a foundation that will support SUSK, its member organizations, and students for years to come
- This fundraising campaign is the first of its kind and will ensure that SUSK’s key pillars (club resources, events, continuity) will have sustainable support
- This foundation will help combat SUSK’s naturally-occurring high turnover rates, which pose a large challenge to the organization’s institutional memory
- This endowment, which will feature a cross-section of supporters (e.g. alumni, community supporters, foundations, corporations), will only access its annual accruement of interest, thus ensuring that SUSK proactively prevents donor fatigue
7. What will the money be used for?
With an endowment goal of $600,000, an annual accrual of interest of 4% would support:
- USO Resources ($12,000/year) – USO funding, staff support, online networks (job opportunities, internships, being a constant point-of-contact for local clubs)
- Events ($6,000/year) – SUSK Congress, local events (networking events, seminars, socials)
- Continuity ($6,000/year) – Mentoring USOs to manage turnover rates (e.g. early elections, sharing information, membership lists), strengthening emerging USOs, identifying Ukrainian students to start clubs in new areas
8. Why launch this campaign now?
- We currently have short-term resources necessary to ramp up the endowment
- We are losing more of our earlier waves of Ukrainian Canadians following high school graduation, where they become less engaged with the community
- SUSK provides a unique opportunity to engage newcomers to Canada and tie them in with SUSK and the established Ukrainian Canadian community, targeting Ukrainian-born youth in colleges
- SUSK is growing at an unprecedented rate and we want to ensure that we can sustain and further this growth. A high turnover rate is detrimental to any organization, and having sustainability will help address this key issue
- SUSK is the only Ukrainian Canadian organization of its kind. It’s the only one that engages youth and students across different waves of immigration, youth groups (Plast/CYM/CYMK/etc), dancers, choristers, etc.
9. I have old SUSK materials, what should I do with it?
Contact us to share/submit/digitize articles and stories so that they may be recorded with SUSK’s impressive history!
10. Do you have an Annual General Report?
SUSK Annual General Reports are available online.