1. How do I set up an endowment?
FEF Canada can manage metal casting industry-related scholarships for associations such AFS chapters, as well as several “Living” or memorial funds. The memorial funds provide a permanent projection of a cast metal leader’s career and, in a real sense, continue the work to which a lifetime was dedicated.
The principal amount of all FEF Canada endowments is restricted; only the earnings are used to provide scholarships to qualified students. All awards of this type carry the name of the donor, whether it is an individual, chapter or company. Samples of endowment agreements can be found in the Resources section of this website. For more information, contact the FEF Canada office.
2. How is FEF Canada’s money invested?
All funds entrusted to the Foundry Education Foundation Canada are managed according to FEF Bylaws with reasonable prudence by registered qualified independent investment managers who assume full responsibility for all assets under management. The investment managers are monitored monthly through FEF’s Investment Committee, and annually by the Board of Directors. The guidelines provide the majority of investments to be in bonds or cash equivalents with some prudent exposure in equities for growth.
Our conservative portfolio objective is to provide a steady total return, with the majority of the funds invested in a balanced portfolio with current income for scholarship and operating needs. This is achieved by investing in high quality, investment grade corporate and/or government bonds.
The remainder of the funds, will be invested to achieve growth and to out pace inflation, and preserve the value of our dollars. This is done by investing in high quality, common and convertible stocks, mainly paying good dividends, with solid balance sheets, and history of growth. This acts as an inflation hedge, plus giving us needed liquidity. Short term assets are kept in money market funds, CD’s, and other cash instruments.
This approach gives us needed protection and flexibility in all economic conditions minimizing the effect of adverse market conditions. The current investment policy of FEF Canada is located in the Donate/Endowment section of this website.
3. What makes FEF different from other society foundations?
There is a “Key Professor” at each of the schools who handles the partnership FEF has with engineering education. This professor knows the students, teaches the courses, handles administrative requirements from FEF headquarters, and decides who is best suited to receive FEF funds. This personal approach is very important to the program’s success. Students become aware of the Cast Metals Industry through the combination of scholarships and the professor’s influence. Other scholarship programs make grants only on registration or letters of intent. FEF provides important interrelationships essential to students and Professors. The FEF Key Professor also is your contact as your company considers research, donation of supplies, recruitment, and other technical needs.
4. When & why was FEF founded?
The origins of FEF Canada are in the USA where after WWII ended, there was a desperate need for skilled technicians and educated leaders in the cast metals industry. FEF was established in Ohio in 1947 by the leaders of the metal casting industry, with the support of affiliated organizations and societies as an independent extension of metalcasting educational programs at colleges and universities across the country. The primary objective was to bring top-quality men and women into our industry. FEF has since become the lifeline of quality people to our Industry.
FEF Canada was started in 2006 out of a desire to extend the sponsored support of metal casting programs so successfully established in the USA.
5. What is the benefit of contributing to FEF?
Donors recognize that FEF is registered as a charitable organization in Canada with the Canada Revenue Agency, and contributions are deductible as allowed by law. In addition, FEF funds are invested in a professionally managed, high quality portfolio to ensure the protection of the principal funds donated with FEF while ensuring an ongoing supply of funds to support scholarships.
FEF receives no other support than from the Cast Metals Industry. This cost-effective scholarship program produces long lasting results for our industry, even to companies who have never hired an FEF graduate. We must not forget the future. We need your support to insure the continued strength of this important effort. Join the lifeline to the future through the Foundation for the Cast Metals Industry – FEF Canada!
6. What is metal casting?
A metal-forming process whereby molten metal is poured into a cavity or mold and, when cooled, solidifies and takes on the characteristic shape of the mold. Casting offers several advantages over other methods of metal forming: it is adaptable to intricate shapes, to extremely large pieces, and to mass production; it can provide parts with uniform physical and mechanical properties throughout; and depending on the particular material being cast, the design of the part, and the quantity being produced, it can be more economical.
7. How can I apply for FEF Canada Scholarships?
As a first step all students are requested to register with FEF Canada annually. Detail can be found under the Student/Register tab of this site. Once registered students will be advise when applications are being accepted and can follow the detail under the Student/Scholarships tab to apply for available funding. Note only students registered with FEF Canada and those eligible to work in Canada are able to apply.