OUR ENDOWMENT FUND
MESSAGE FROM THE ƆDADEƐ ENDOWMENT FUND INTERIM BOARD OF TRUSTEES
PRESEC is at the forefront of secondary education in Ghana. Like all Government-funded schools, it suffers from a significant deficit of physical infrastructure and other academic facilities.
The pressure on Government finances means that it cannot be relied upon to address the immense challenges alone. This means that Ɔdadeɛ Global Association (OGA) has assumed increasing importance in the effort to plug the funding gap, especially with respect to refurbishing the run-down physical infrastructure and undertaking new projects to relieve the pressure on existing facilities. Over the past few years, Ɔdadeɛs have risen to the challenge and have initiated several projects on Campus. These have largely been funded by financial contributions from members, with some support from corporate organisations affiliated with Ɔdadeɛs.
However, the challenging business and economic environment means that this mode of funding is sporadic and unstable, and indeed the expression “donor fatigue” is increasingly encountered in our efforts to extract further support from traditional sources.
It is obvious that the time has come for PRESEC to emulate the example of the pacesetters in quality education around the world and set up an Endowment Fund to help meet the multi-faceted problems that are evident on Campus.
The Ɔdadeɛ Endowment Fund (OEF), will be a fund containing financial assets that are held permanently and invested to generate income and capital appreciation for the benefit of PRESEC.
A portion of the fund’s value will be available for spending annually on projects that meet the strict criteria that will be set out in the Fund’s Investment and Spending Policy and subsidiary regulations. These may include scholarships, infrastructure projects, educational programmes, lectureships and any other approved expenses deemed appropriate and imperative by the Fund’s Board of Trustees.
The General Council of the Ɔdadeɛ Global Association mandated the establishment of a Development Committee to undertake necessary activities for the establishment of a duly registered Endowment Fund. The Ɔdadeɛ Endowment Fund received its registration certificate in February 2018.
The Interim Board of Trustees is conducting broad consultations to arrive at the final Board of Trustees that will recollect the diversity and aspirations of the various stakeholders of PRESEC and the Ɔdadeɛ Global Association. The Board is also putting together detailed Policy and Governance guidelines for dissemination to all stakeholders and prospective donors to the Fund.
We call on all Ɔdadeɛs, stakeholders of PRESEC and well-wishers to support this laudable initiative, and thank you in advance for your generous contributions.
IN LUMINE TUO VIDEMUS LUMEN!