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“Through this gift, the Nasser family is allowing more students to choose the University of Saskatchewan, and ensuring that when they do, it is a welcoming place for all students - a place where they can be successful,” said Vice-President University Advancement Heather Magotiaux. “We are very thankful for the Nassers’ commitment and generosity over the past four decades, and for this landmark donation that allows us to make great strides in continuing to improve the student experience.”

“From the beginning of my days as a student at the University of Saskatchewan, I knew that I wanted to give back to the U of S as it made a big difference in my life,” said Nasser. “If not for financial help, I would not have been able to get to university myself, so the main interest of my family is students who need financial assistance. We would like all students who want to come to this university be able to.”

The gift in-kind will be used to improve the student experience at the U of S by creating new undergraduate needs-based awards, helping hundreds of students each year. The Nassers are also designating a part of the gift to the College of Engineering, and to the construction of two new spaces that are focused on building community among students: the Gordon Oakes–Red Bear Student Centre, and a student amenities building as a part of the College Quarter student residence development. The family is also giving the university the building that houses the Edwards School of Business K. W. Nasser Centre, allowing the U of S to secure its presence in downtown Saskatoon.

Mark Boots, a student who has been a recipient of the Nasser family’s existing awards remarked, “Dr. Nasser is an inspiration to all students, not only for his professional achievements as an engineer and entrepreneur, but as a community citizen who shows us that it’s important to support the university that gave us our start.”

The Nassers have made a gift to the university each year since 1967. During his 33-year teaching career in the College of Engineering and as a professor emeritus, Dr. Nasser has been a generous supporter of the university, directing the majority of his gifts towards student awards.

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For more information, contact:

Christy Miller, Associate Director, Development Communications & Donor Relations
University Advancement
University of Saskatchewan
Tel: (306) 966-8917
Email: christy.miller@usask.ca

Background Information

Professor Emeritus Karim (Kay) W. Nasser
Born and raised in Lebanon, Nasser earned his Bachelor of Science in Engineering at the American University in Beirut, his masters degree in Kansas, and his PhD at the University of Saskatchewan, where he served as a professor of civil engineering for 33 years.

Nasser’s research led to the invention of the K-slump tester, a device that easily tests the consistency, or slump, of concrete when it is poured. The tester was used in the construction of Toronto’s CN Tower in 1973 and is still widely used today.

Using a line of credit from the bank and his engineering expertise, Dr. Nasser constructed several apartment buildings throughout Saskatoon. In time, Victory Majors Investment Corporation was formed to handle the management of the properties.

Nasser and his wife, Dora (also a U of S graduate), have five children—Selma, Mona, John, Roseann and May—who all studied at the U of S. The Nasser family has been consistent and generous supporters of the U of S for over 40 years. Nasser recognizes he would not be where he is today without the financial assistance of others, so the Nasser family is passionate about helping others achieve their educational goals.

The Largest Gift in University of Saskatchewan History
Consistent with their desire to help others, the Nassers decided to contribute a gift to the U of S worth $12 million. Ownership of properties valued at a total of $18 million was transferred to the U of S. The U of S in-turn paid the Nassers $6 million to make the gift in-kind total $12 million. Funds used to facilitate this gift are separate from the university’s operating budget, which is used for day-to-day operations such as academic programming, and faculty and staff salaries and benefits.

About the The Gordon Oakes – Red Bear Student Centre
The Gordon Oakes – Red Bear Student Centre will act as a central resource of services and amenities to support aboriginal students and encourage their success. The teaching, learning and ceremonial space will provide opportunities for community involvement and create a cultural centre that will help attract and retain aboriginal students.

About the Student Amenities Building in the College Quarter Student Residence Development
The multi-year development plan for College Quarter, located south of College Drive between Cumberland and Preston Avenues, includes the first student residences built at the U of S in over 30 years. The student amenities building will be a place where students can gather to work and socialize. The building could potentially house classrooms, computer, exercise and music rooms, social gathering areas and office space.

About the Edwards School of Business K.W. Nasser Centre
The Edwards School of Business downtown campus is home to the school’s MBA program. The downtown location enhances the student experience through its convenience, ease of access and increased opportunities to connect with members of the business community.

The Nasser Family Gift Structure

THE DONATION

The Nasser family wished to make a $12 million donation to support students and the student experience at the University of Saskatchewan. The gift in-kind consists of two properties in Saskatoon:

1. The Vienna Building - located downtown on the corner of 20th Street East and Third Avenue South at 306 and 314 20th Street East. The commercial space houses the recently opened Edwards School of Business K. W. Nasser Centre, and the upper three floors contain 30 apartment units.
2. The Idylwyld Apartments - three buildings at 820-830-840 Idylwyld Drive North situated on three acres of land. Two of the buildings contain 77 apartment suites, and the third building contains 12,802 square feet of commercial space that is presently vacant.

The total current market value of the two properties is $18 million.

The university has accepted the two properties from the Nasser family and issued the family a $6 million payment resulting in a net gift in-kind of $12 million.

THE OPTIONS

The university has two options for the buildings:

1. Keep the buildings and operate them as a real estate investment
2. Sell the buildings at the market price at an appropriate time in the future.

If the university retains ownership of the buildings (option #1), an internal loan based on the property value will be used to provide the $12 million needed to meet the donor’s wishes. At some point in the future when the building(s) are sold, this loan will be repaid.

In either case, by accepting this donation the university is obligated to fulfill the donor’s intention to direct $12 million to support students and the student experience. Until a decision on whether to keep or sell the building(s) is made, Victory Agencies, a company owned by the Nasser family, will remain the property management company.

THE DESIGNATIONS

The Nasser family is directing the $12 million donation to the following areas:

* undergraduate needs-based student awards;
* construction of a student amenities building as a part of the College Quarter student residence development;
* construction of the Gordon Oakes–Red Bear Student Centre;
* College of Engineering; and
* the Edwards School of Business downtown campus.