Volume 12,
No. 1–
Spring 2002
 
 

A newsletter of the Lyford Cay Foundation, Inc.
& The Canadian Lyford Cay Foundation

3

 
 
 

Temperature’s soaring
Endowment Fund hits the $5 million mark

    Recent generous contributions took the College of the Bahamas Scholarship Endowment Fund up and over the $5 million goal.
Launched in late 1996 with a goal of raising $1 million a year for five years, the ambitious undertaking to provide scholarships at the expanding College of the Bahamas for Bahamian students who want to study at home, has been successful.
“We are delighted with the response to this fundraising effort, which shows us that both the Lyford Cay and the Bahamian community as a whole recognizes the importance of making scholarship funds available to those Bahamians who wish to further their education without going abroad,” said Nancy B. Kelly, who along with William P. Holowesko, headed the local fundraising drive.
Kelly’s and Holowesko’s energy and determination in soliciting donations from the Bahamian private and business community netted over $1.4 million in contributions toward the Fund, playing a substantial role in meeting the lofty goal. Efforts from Family Island communities helped establish scholarships within the Fund for students from those islands.
A joint project of The Canadian Lyford Cay Foundation and the Lyford Cay Foundation, the COB Scholarship Endowment Fund will make it possible for hundreds of Bahamians to receive a Bahamian education and prepare for a Bahamian career.



The first scholarships from this fund were awarded in 1997 and to date $1,184,945.00 has been made available for scholarships. One hundred and fifty-five students received financial aid for the 2001-2002 academic year.

• For a complete listing of all of those generous individuals and businesses that have helped us reach our goal, see pages 7 and 8.
   
Update: College of The Bahamas Library & Information Centre
Construction expected to begin in the near future
    The College of The Bahamas Library & Information Centre project is alive and well.
The Foundation is putting the finishing touches on a tripartite Collaborative Agreement between The College of The Bahamas, the Bahamian Government and the Foundations.
Recent local and global events necessitated that we revisit the scope of the project and it has been agreed to scale back the budget to $12.5 million. The design and consulting team should begin work soon.
In the very near future we will be going full-blast on fund-raising and the Foundation is particularly proud that Sir Orville Turnquest, recently retired from the Office of the Governor-General, has joined the Board of Directors of the Lyford Cay Foundation and is Co-Chairman of this fund-raising initiative, along with Dr. Keva Bethel.
  Caystone Spring 2001 Newsletter  
  Caystone Fall 2001 Newsletter