Royal Arch Masonic Bursary Fund

The five Bursary Fund Trustees, one of whom is replaced each year by the Grand First Principal, administer the Royal Arch Masonic Bursary Funds.  These funds provide bursaries to  assist needful qualified students whose father or grandfather is, or at the time of his death was, a Royal Arch Companion in a Chapter in this Jurisdiction.  The Bursary Funds are kept separate from other funds of Grand Chapter.  There are two separate bursary funds, namely a Capital Fund and an Annual Fund.  The Capital Fund is intended to operate in perpetuity, and is augmented by reinvestment of a portion of the interest income of the fund and by donations.  Each year, a portion of the interest income of the Capital Fund may be transferred to the Annual Fund.  The Annual Fund is intended to be disbursed each year on bursaries, and is augmented by interest income from the Capital Fund and by donations.  Bursaries are generally tenable at a recognized Canadian University, the B.C. Institute of Technology, a regional or community college in British Columbia, any other B.C. technical school or school of nursing.

Three independent charitable societies are supported by Grand Chapter.   Directors are elected annually by the members of each society.  Under society bylaws and the Constitution of Grand Chapter, one director of each society each year is appointed by the Grand First Principal.