The Mathematics Endowment Fund (MEF) reached a huge milestone in Fall 2011, breaking the million dollar mark in terms of funding distributed since inception in 1994. Each term, MEF collects ten ‘pi’ (π) dollars from each math student (which is rounded to $31.42) and has accumulated over four million dollars within the fund.
MEF has provided funding towards many projects within the Faculty of Mathematics, including computer updates and student conference travel.
New project proposals to MEF are accepted during the third month of every term. For them to be approved by the funding council, they must serve and benefit the education of undergraduate mathematics students (and be legal to complete). The funding council is made up of two undergraduate students per department, a faculty representative from each department, and two alumni who are recommended by the Dean. This way, they can ensure that optimal funding goes to where it needs to be.