Thank you, Chair.
I'll cover three points now: the mission of the foundation, governance matters raised in previous testimony needing correction, and a message to our scholars.
First, I'll go to the foundation. The Pierre Elliott Trudeau Foundation is a non-partisan charitable scholarship foundation created in 2002, with broad cross-party support in the House of Commons. The first board of directors included Bill Davis, Roy Romanow and Peter Lougheed. It was granted a $125-million endowment by the government, and since then it has spent some $95 million providing 295 doctoral scholarships, plus mentorships and fellowships, and related programming. We achieved that without touching the capital, which now stands at $145 million. Today we rank up there with Rhodes, MacArthur and Fulbright as a sought-after scholarship, and many of our scholars say that their involvement was a life-changing experience.
Our directors and members are all volunteers. The overwhelming bulk of private donations to the foundation are from board members. The Trudeau family has no financial interest whatsoever in the foundation.
President Fournier and I enjoyed a friendly and effective working relationship over almost all of my two years as chair. But intense national attention beginning on February 28, relating to a donation seven years ago totalling $140,000 by a Chinese Canadian entity put severe pressure on the entire foundation at its busiest time of year. The consequences are well known.
Let me add that the foundation has been subjected to unwarranted and unfair attacks. The Chinese Canadian donation came to us through the Université de Montréal. We were never offered $1 million, and we never received any red flags from CSIS.
Turning now to previous testimony before the committee, it's important that I respond to some earlier testimony here.
At no time did I receive a legal opinion on possible conflict of interest involving me or other directors relating to the 2014-17 donations, but I did not need a legal opinion to tell me what I instinctively knew. I was on the board at the time, so I should not be involved in any oversight of any outside review of those donations. At no time did I resist or attempt to narrow such an independent review, nor, to my knowledge, did any other director.
Throughout March, with concurrence of outside counsel, I urged that an independent review should be overseen not by Ms. Fournier, not by me, but by a special committee of three directors, who had no involvement whatsoever in the foundation in the years 2014-17. I proposed this formally to the full board meeting on March 31.
As to my eligibility to chair that meeting, there was no question. My interests aligned perfectly with the interests of the foundation. I wanted an independent review, and so did the rest of the board, and it was my duty as chair to preside.
There were two outside lawyers from two firms advising the board at that meeting, and both said they had not given opinions on conflicts of interest. Neither they nor any director questioned my legitimacy to chair or to vote at that meeting.
Over the subsequent week, a board consensus emerged among directors that indeed the outside review should be overseen by a special committee of three, as I had originally recommended, and that it must not report to management.
I'm providing the committee with the memo I sent to the entire board and Ms. Fournier on Easter Thursday, April 6, proposing a path forward. To my disappointment, the board resigned on April 10, Easter Monday, before the consensus reflected in my memo could be given effect.
As to my eagerness to have an independent outside review, I wrote to the Auditor General on April 14, three days after the board resignations, to ask her to investigate all aspects of the receipt and handling of these donations by the foundation. I'm providing copies of my letter here.
Looking ahead, I want to say a special word to our scholars, mentors and fellows and to our marvellous and enthusiastic team at the foundation. The Pierre Elliott Trudeau Foundation will continue to provide its outstanding academic program, and thanks to the volunteers on our finance committee, we continue to be well financed. Our excellent team is working ahead on the selection of our next cohort and planned leadership development events. It's an exciting future for the foundation.
Thank you.