Giving Report 2022 - Acadia University

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Gifts support those who dare to dream

The fall term began at Acadia with students returning to a more familiar, in-person learning environment that had been mitigated previously by the impacts and consequences of the global coronavirus pandemic. A sense of excitement and optimism predominated as faculty, staff and students came together once again to pursue lofty goals, new priorities and ambitious dreams.

We are committed at Acadia to support those who dare to dream, and we persistently encourage all members of our community to engage in every way possible to promote dreams that are lofty, but also realistic and attainable. Acadia’s dream of transforming lives for a transforming world is indeed lofty, but one that we deliver on time and time again because of the generosity of those who support the University.

Donations make an incredible difference, and your kindness and generosity are fundamental components that contribute to the sustainability of our campus infrastructure and the overall success of our students and faculty.

Meanwhile, as you may know, I recently entered my sixth and final year as Acadia’s President and ViceChancellor and have decided not to pursue another term, opting to conclude my tenure on June 30, 2023.

A Presidential Search Committee has been struck and I have offered my full support to the Board of Governors in facilitating a smooth transition to the next President. There is still much to accomplish in the interim, however, and I look forward to assisting in every way possible to ensure that Acadia is on a renewed path of strength and sustainability, with a keen focus on enhancing enrolment, increased equity, diversity, inclusion and accessibility, fiscal responsibility, and united on-campus and alumni communities in accordance with our Acadia 2025 Strategic Plan

Meeting so many alumni, donors and friends has been an honour throughout my tenure as President, and I feel privileged to have had the opportunity to work shoulder-to-shoulder with you to ensure that Acadia remains a destination of choice for domestic and international students for years to come. I know our distinct educational approach will continue to produce community-minded, engaged individuals who will foster dynamic and positive change at local, national and international levels.

Thank you so much for supporting Acadia. I hope that this Report illustrates the impact of your gifts and how important they are for everyone at Acadia, now and in the future.


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THE NUMBER ONE SONG when Pete Connelly graduated from Acadia in 1964 was ‘I Want to Hold Your Hand’ by the Beatles. Oh Henry bars went for a nickel, and 10 cents was enough to buy a comic book at the local variety store. Lester Pearson was Canadian Prime Minister and Lyndon Johnson was President of the United States.

Pete, who would later go on to enjoy a 40-year career as an orthopaedic surgeon, grew up in Wolfville, on Linden Avenue, and knew many of the professors long before he ever set foot on the Acadia campus as a student. It wasn’t unusual to have a chat with Rev. Dr. George Levy (’27, ’31, ’32, ’70 HON), professor of English Bible and former president of the Alumni Association, while sitting on his front porch as a young boy. Lifelong friend and 1964 grad John Whidden’s dad Evan (’67 HON) was Dean of Theology and like a second father to Pete. Pete knew University President Dr. Watson Kirkconnell (’64 HON), art professor Helen Beals (’19), and Acadia Ladies’ Seminary graduate Mona Parsons was a good family friend.

Acadia University –

the springboard to a lifetime of wonderful memories and relationships for Pete and Sandi Connelly

Small wonder that Pete chose Acadia after finishing up at Wolfville High School. The place must have seemed like home, and it was probably easy (or at the very least, convenient) for a young man at the age of 16 to roll out of bed, literally dash across the street and arrive at class in the blink of an eye.

Pete’s wife, Sandi Davis (’66), came to Acadia by a more circuitous route. Born in Truro, Sandi’s childhood was certainly more nomadic than Pete’s. Her father was a manager at the Bank of Nova Scotia and the family moved around a lot when Sandi was young. They lived in Truro, Amherst and Digby, then Chatham and Albert, New Brunswick for a while, settling finally in Bridgetown, N.S., where Sandi completed Grades 7–11. Bridgetown High offered Grade 12, but attending university was determined to be more appropriate by her family.

Her mother, Dorothy Lewis Davis Lutes (’34), sister Elizabeth Davis Rafuse (’75) and other family members are Acadia grads, and Sandi says she can’t recall if another university was really a consideration for her. “Once it was time for me to go to university,” she says, “it was a foregone conclusion that I would attend Acadia.” Sandi lived in Tully (Whitman House) for the first two years of her undergraduate degree then switched to Dennis House for third and fourth years.

Pete’s sister, Murray Connelly Baker (’61), went to Acadia ahead of him, and his mother, Margaret Forbes Connelly (’37), graduated from Horton Academy prior to attending Acadia. Like Sandi, Acadia was the natural and only choice for post-secondary school “and I loved it,” Pete says. “I have no regrets.”

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Times were different

As you can imagine, times were different then. During the week, female students had to sign out after 7:30 whenever they left in the evening and be home by 10p.m. That curfew was extended on Friday and Saturday evenings to 12 a.m., but it didn’t pay to push the deadline. House matrons ensured all rules were followed and enforced.

“Life was simple in comparison to what kids are exposed to now,” Sandi adds, “but we had some great times. There were proms, the Junior Snowball, and co-ed dances. We worked hard, but we had a lot of fun, too!”

The pair started dating when Sandi was in second year, even though they had both worked as summer students in St. Andrew’s, New Brunswick. Pete had a job at the Fisheries Research Station and Sandi was a waitress at the Algonquin Hotel. They quite likely took the same bus and boat to get to their respective homes, but somehow never connected.

While sitting on the train after getting off the boat in Digby and preparing to return to Wolfville, he saw a friend, Karlyne Edwards, walking on the Digby wharf with another woman. “I called up Karlyne later and said, ‘Who was that with you on the wharf?’ She told me, so I looked Sandi up and invited her to a hockey game.”

It was their first date. Sandi was a sophomore; Pete was a senior and a member of the spirit band. He sat beside Sandi in the old Ice Palace throughout the game, holding and beating on a snare drum the entire time. The rest, of course, is history.

Pete went to Dalhousie University for medical school while Sandi finished up her degree at Acadia. She also attended Dal upon graduation, earning a BEd and forging a career as a teacher.

“Sherman Bleakney (’49, ’51) was probably my mentor,” Pete says. “He and Erik Hansen (’49, also a former Associated Alumni of Acadia University president) taught me scuba diving. Chalmers Smith (’36, ’76 HON) wrote my recommendation to medical school, and P. M. Bayne, (’54 HON, Professor Emeritus of biology at Acadia), who was semi-retired at the time, taught a course on medical history in my last year. This is what persuaded me to go into medicine instead of marine biology, which is where I had been headed.”

Married in 1967 Sandi and Pete were married in 1967 and have been blessed with two children, Heather and Scott, and four grandchildren. The couple moved eventually to Kentville in

1976, where Pete served the community as the only certified orthopaedic surgeon in the region for nearly 10 years. He established a thriving practice, invested in the community and changed many lives for the better. There are now seven orthopaedic surgeons in the area, and Pete retired in 2017 at the age of 75.

Both Pete and Sandi share fond memories of their time at Acadia and have stayed in touch with the University in a number of ways. Pete has served on Senate, was President of the Associated Alumni of Acadia University, worked with Acadia Athletics staff in his capacity as a doctor, and is Life President of the Class of 1964, a nomination he accepted after the passing in 2018 of previous Life President Linda Piers (’64).

Pete and Sandi regularly attend reunion events hosted by the Acadia Alumni Association, and they recently made a generous donation to boost the Class of 1964’s Kirkconnell Scholarship, established in 2014 on the 50th anniversary of the Class of 1964 and in memory of their honorary class member, Dr. Watson Kirkconnell, Acadia’s President from 1948–1964.

They are both proud to be Acadia grads and believe that, through a combination of effective, determined leadership and valuable alumni engagement, Acadia is in a better place than ever before, enjoying a momentous groundswell that will carry the University, its faculty, staff and students to new and greater heights now and in the years to come.

“Our class fund was small, and making a major donation was something I’ve wanted to do for a long time. I grew up with Acadia, and Acadia has always meant a lot to me.” – Pete Connelly (’64)
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Close-knit national championship team creates award to support men’s basketball at Acadia

FOR MANY PEOPLE, particularly athletes, the past always informs the present. Memories of glory days gone by never grow old and youthful accomplishments come to life as vividly as if they happened only yesterday.

Take 1971, for instance. Pierre Elliott Trudeau was Prime Minister, Richard Nixon was in the White House, Clint Eastwood starred in ‘Dirty Harry’, and Rod Stewart’s “Maggie May” was top of the pops.

Closer to home, Dr. James M. R. Beveridge was Acadia University President and the men’s varsity basketball team was ripping it up on the hardwood, winning 30 of 32 games that season and finishing league play as the only undefeated squad in the AUAA.

Acadia also earned the right to host the CIAU national championship on home turf, in the then three-year-old, state-of-the-art War Memorial Gymnasium in Wolfville. Led by All-Canadian and tournament MVP Rick Eaton (’72) and all-stars Gary Folker (’72), Peter Phipps (’71) and Steve Pound (’72), they didn’t disappoint.

The Axemen made it to the national final in convincing fashion, defeating the Loyola Warriors and Windsor Lancers by scores of 59-42 and 84-55 respectively. Led by Eaton’s 27-point performance in the championship match, Acadia prevailed over the University of Manitoba Bisons 72-48 to claim the second of the school’s three national championships in front of an enthusiastic hometown crowd. The team was later inducted into both the Acadia and Nova Scotia Sport Halls of Fame. Glory days, indeed!

Something special Kentville native Gary Folker spoke to John DeCoste (’77) in a spring 2011 Bulletin article that marked the team’s 40th reunion as part of the CIS Final Eight tournament in Halifax. “To my mind,” Folker said, “what that team had has never been duplicated. There have been other great Acadia teams over the years, but the rapport we had as a group, both on and off the court, was something special.” So special, in fact, that even after all this time, team members “are still close, and remain in touch with one another. I made good friends at Acadia 40 years ago who are still friends today.”

Eaton agrees. “Whenever we get together, we still talk about other things we could have done, or could have done differently.”

Pound recalls the time and his teammates fondly, saying, “it wasn’t necessarily the winning, though that

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part was nice. The emotional part for me is that we’ve all managed to remain friends for all these years, and that we’re all pretty talented and successful people in our own right.”

Motivated to give back Talented, successful and motivated to give back in a meaningful way to their alma mater. Team members have come together to establish the 1971 Men’s Basketball Award at Acadia in honour of their national championship win.

The award will provide financial support to one or more men’s basketball student-athletes annually for five years starting with the 2020-21 season, and is in memory of Nancy (Sutherland) Logue (’59), who passed away in March 2020.

Members of the 1971 team have committed to supporting the award along with friends of the basketball Axemen. The names include: Steve Pound (’72); Rick Eaton (’72); Paul Talbot (’74); Tom Staines (’75); Jon Beausang (’74); Freeman Schofield (’74); Fred Moczulski (’74); Peter Phipps (’71); Gib Chapman (head coach); Bill Barrett (’74, manager); Terry Condon (’72); Gary Folker (’72); Valerie Evans (Class of ’72 Life Officer, cheerleader); and Dr. Jacquelyn Evans  (’73, cheerleader). Several team members have passed away, including: Tom Farrington; Jerome ‘Bruiser’ McGee; Harvey Mills (trainer); and Willis Porter (manager).

Pound initiated the idea of the award in collaboration with Eaton and they are hopeful others that supported the team, including fans, will consider contributing to it.

“This team was made up of extremely talented student-athletes who wore Acadia colours proudly en route to a national championship in Wolfville in 1971,” said Development Officer Len Hawley. “What’s even more impressive is their connection to one another nearly 50 years after the fact, and how they have come together to create an award for members of the men’s basketball squad that celebrates the ’71 team’s remarkable achievement and supports Acadia’s student-athletes today.”

Alex Muise earns

1971 Acadia Men’s Basketball Award

MEMBERS OF THE 1971 ACADIA MEN’S basketball Axemen returned to Wolfville during Homecoming 2022 to celebrate the 50th anniversary of their historic championship win. The pandemic had delayed the reunion a couple of times, but eight members and Head Coach Gib Chapman were on hand and delighted to be in War Memorial Gymnasium on Oct. 15, 2022 to present Alex Muise with the 1971 Men’s Basketball Award in honour of their national championship win. The award will provide financial support to one or more men’s basketball student-athletes annually for five years beginning with the 2020-21 season. Muise, a fourth year BBA student from Bedford, Nova Scotia, is a guard with the basketball Axemen in his final year of play. Pictured with him are: Gib Chapman (Head Coach); Tom Staines (’75), Terry Condon (’72), Gary Folker (’72), Peter Phipps (’71, ’75), Jon Beausang (’74, ’76), Rick Eaton (’72), Paul Talbot (’74), and Steve Pound (’72, ’75).

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FOR MARGARET AYLWARD (’74, ’79), teaching is a way of life, not a profession and Margaret’s Legacy Award, created by her family, honours her lifelong commitment to education. The award carries on a family legacy of investment in students beginning with Margaret, now retired from a splendid and rewarding career as a teacher and school administrator, and sustains a family educational legacy that has spanned decades and generations.

Margaret’s own educational journey was not a simple one and her family is proud to share her accomplishments and applaud her personal traits through the award. A fiercely determined student, Margaret raised five children while pursuing her postsecondary goals and working full-time as an educator. She took courses over many years at night and in the summer to earn a Bachelor of Arts in psychology and Bachelor of Education, furthering her expertise and abilities as a teacher at a time when there was little professional reward or recognition for these efforts.

Margaret’s Legacy Award proudly celebrates this extraordinary journey by supporting mature students who are bravely undertaking a new chapter in their lives. Preferably identifying as a woman, the recipient may be juggling parenting or other caregiving roles, parttime or full-time work, leadership in the community, or other remarkable challenges.

Legacy Award celebrates teacher’s

Pictured are: Dr. M. Lynn Aylward (’86), Mrs. Margaret Aylward (’74, ’79), Ms. Sarah Hill (’22) and her children, and Ms. Sandra Aylward.

New generations

Dr. Lynn Aylward (’86), Margaret’s daughter and a faculty member in Acadia’s School of Education as well as an Acadia alum, is closely acquainted with the needs of education students and saw this award as a way to help new generations of teachers while also celebrating their mother’s accomplishments, which they have grown to appreciate more as they have aged. Reflecting on the lengths her mother went to ensure her children were cared for while she pursued her own dreams, Dr. Aylward notes that while mature students are not often the first group people think of when considering student awards, their unique situations make this kind of support even more essential.

“These are students who have changed direction and returned to university because they are so passionate about teaching and learning,” she says. “They’re the kind of teachers we need, and our family is delighted to support such students in our mother’s honour.”

On Oct. 1, Margaret and some of her family gathered at Alumni Hall on the Acadia campus to celebrate inaugural recipient, Sarah Hill (’22) with Sarah’s three children. During her time at Acadia, Sarah has had the opportunity to work closely with Dr. Aylward in the area of Inclusive Education and while the family is not involved in the selection process, Dr. Aylward described Sarah as exactly the kind of student they had in mind when conceptualizing the award. An accomplished student who plans to continue her education with graduate study, Sarah says the support has been an “instrumental part in my ability to accomplish my goals at this stage in life,” and observes that the award is yet another example of the incredible dedication of Acadia’s faculty to its students.

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indomitable will, lifelong commitment to education
Margaret’s Legacy Award proudly supports mature students who are bravely undertaking a new chapter in their lives.

2021 Calendar Year New Named Funds

’71 Men’s Basketball Award

1993 University Cup Champions Men’s Hockey Award

1996 University Cup Champions Men’s Hockey Award

2006 AUS Champions Men’s Hockey Award

2014 AUS Champions Men’s Hockey Award Al Charuk Football Award

Allen Family Football Award

Allen Family Leadership in Business Award

Bev Greenlaw Basketball Award

BioMedica Diagnostics Science Award

Bob Stead Award

Bruce Wendell Phinney, FCPA, FCA, BBA (’81)

Merit Award

Canadian Alliance for Skills and Training in Life Sciences (CASTL) Award

Chipman Honours Award

Chuck Smith Award in Kinesiology

Clive and Cindy Waugh Graduate Award

David and Faye Sobey Foundation Fund for Environmental and Sustainability Studies

David and Ruth Anne (Morse) Nicholson Bursary

Dianne Looker Sociology Fund

Donald G. Stairs Athletic Award

Doris Fraser Hiltz Chemistry Research Award

Douglas and Patricia Armstrong Award

Dr. Anna Redden Scholarship

Dr. Blair Jarrett Hockey Award

Dr. Ernest Hayes Research Fellowship

Dr. William Ashley Harrison Endowment Fund

Edwin Borden Awards

Elliott Richardson High Performance Sport Awards

Evans Environmental and Sustainability Studies Scholarship

Frank Hughes Memorial Award

Harry Thurston Award in Environmental and Sustainability Studies

John & Helen Huard Football Awards

Kevin Dickie Athletic Leadership Awards

Kevin Dickie Hockey Award

Lalia Halfkenny Award

Laura Sanders Basketball Award

Liz Vermeulen Women’s Sport Award

Margaret (Peg) L. Harrison Endowment

Margaret’s Legacy Award

Michael Hazard (’81) Memorial Basketball Award

Nicholas Vidito Memorial Hockey Award

Oyler Art Gallery Endowment

Patsy Bray Mahoney Entrance Awards

Sonny Wolfe Football Award

Stefanie Conway Memorial Basketball Award

Stephen Faoro Memorial Football Award

Stuart MacLean Football Award

Tom Coolen Hockey Award

Trudell Research Award

Valerie Wilson Memorial Band Camp Fund

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Your Endowment Report

For the year ended March 31, 2022, the Endowment Fund had a market value in excess of $115.8 million. Contributions to the funds were $2.3 million for the year. The funds distributed $4.9 million, averaging a net payout of 4.5%. A market appreciation of $10.1 million was recognized in the current year. Acadia University effectively manages administration fees (0.6% of total assets).

Asset and Manager Allocation

(As at March 31, 2022)

The allocation of Acadia’s endowment funds is listed below, with the highest weighting to Canadian Equity.

Market Performance and Annualized Returns

Global Equity 19.5% Canadian Equity 34.9%

Fixed Income and Cash 21.7%

Endowment Split

23.9% U.S. Equity 57.1% 22.5%

13.4% General (4.5%) Scholarships and Bursaries Departmental and Research Support

Professorships and Lectureships Other (2.5%)

and Lectureships Other (2.5%)

Investment Committee Members

Stuart MacLean (’83) Investment Committee Chair Charles Coll (’84)

Tim Formuziewich (’00)

Bert Frizzell (’72) FCGA

Dr. Bruce Galloway (’68, ’03 HON)

Chancellor, Acadia University

Lana Wood (’82)

Dr. Peter Ricketts President and Vice Chancellor, Acadia University

Mary MacVicar (’90) CPA, CMA

Associate Vice President Finance and Treasurer, Acadia University

Statement of Changes (for the fiscal year ended March 31, 2022) Balance at beginning of period $108,049,609 Revenue and other additions Bequests and donations $2,321,777 Transfer from special reserve funds* 270,122 Market appreciation (depreciation) 10,056,953 12,648,852 Expenditure and income transfers Investment service fees $399,065 Administration fees 315,000 Transfer to research fund 5,148 Transfer to special reserve fund 1,645,256 Transfer to capital fund 12,288 Transfer to operating fund 2,489,088 4,865,845 Balance at end of period $115,832,616 * Special reserve funds are restricted funds held separately between the time a donation is made and the time the designation is finalized by the donor.
The performance of Acadia University's endowed funds over five years is 7.98% compared to the median of 7.27% for plans less than $100 million. Annualized 1 year 2 years 3 years 4 years 5 years Returns Plan 9.30% 17.52% 9.85% 8.61% 7.98% Median 5.41% 15.13% 7.53% 7.61% 7.27% Global Equity 19.5% Canadian Equity 34.9% Fixed Income and Cash 21.7% 23.9% U.S. Equity 57.1% 22.5% 13.4% General (4.5%) Scholarships and Bursaries Departmental and Research Support Professorships
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Office of Advancement 15 University Avenue, Wolfville, NS B4P 2R6 Canada

Telephone: (902) 585-1459 Toll-Free: 1-866-222-3428

Acadia University is proudly located in Mi’kma’ki, the ancestral territory of the Mi’kmaq People.
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