Accounting and Finance Endowment Fund (AFEF)

Funding Success for Accounting and Finance Students

Have a great initiative that will support School of Accounting and Finance (SAF) students? The Accounting and Finance Endowment Fund (AFEF) is here to help make it possible. AFEF was established to support student, faculty, and staff initiatives that complement the student educational experience at SAF.

The objective of AFEF is to better prepare students to face the challenges and responsibilities they will encounter in their professional careers, and to enhance the quality and diversity in students’ educational experiences.

Additional details on AFEF and its constitution can be found by reviewing the governing documents.

Deadlines

As proposals are reviewed each term, they must be submitted by the following deadlines:

Winter 2025 deadline: March 1, 2025
Spring 2025 deadline: June 21, 2025
Fall 2025 deadline: TBD

Our People

AFEF Board of Directors

Coherent with the AFEF Constitution, AFEF is led by a Board of Directors. The Board of Directors consists of:

Four elected Directors
The President of the Accounting and Finance Student Association
The Chair of the Accounting and Finance Student Association
Two School of Accounting and Finance alumni
The Director (or designate) of the School of Accounting and Finance

Photo	Name and Bio
	Michelle Lo Michelle is one of the four elected directors and serves as the chair of the AFEF Board. Michelle is currently working to complete her Accounting and Financial Management degree. In her spare time, Michelle loves attending festivals, travelling, playing sports, and spending time with friends!
	Nicholas Kapageridis Nicholas is one of the four elected directors and serves as head of Finance of the AFEF Board. He is currently in his third year of the Accounting and Financial Management program. In his spare time, Nicholas enjoys playing pool and spending time with friends!
	Arnav Bhambra Arnav is one of the four elected directors and serves as head of Outreach of the AFEF Board. He is currently in his third year of the Accounting and Financial Management program. In his spare time, Arnav loves to play basketball, travel, and spend time with friends!
	Jei Raman Gnaneswaran Jei is one of the four elected directors and serves as head of Marketing of the AFEF Board. He is currently in his third year of the Accounting and Financial Management program. Outside of school, Jei enjoys cycling, reading and travelling!
	Devena Mohabir Devena is the President of the Accounting and Finance Student Association (AFSA) and represents AFSA on the AFEF board. Devena is currently working to complete her Accounting and Financial Management degree. Outside of school, Devena likes to read and spend time with friends!
	Sharon Jiang Sharon is the Chair of BOD of the Accounting and Finance Student Association (AFSA) and represents AFSA on the AFEF board. She is currently working to complete her Sustainability and Financial Management degree. In her spare time, Sharon loves to read and travel.
	Katie Ma Katieserves as the Alumni Director on the AFEF Board. She is a Senior Associate in PwC's Asset Wealth Management Assurance practice, focusing on public and private asset management companies, hedge funds, and pensions. Katie holds degrees from the University of Waterloo in MAcc and BAFM programs. Outside of her professional pursuits, Katie delights in exploring new culinary experiences at restaurants and traveling to different countries.
	Jacqueline Sue Jacqueline is an Alumni Director on the AFEF Board. Jacqueline is currently a senior analyst in Deloitte’s Technology, Media, and Telecommunications group, primarily focused on tax planning, strategy, and business development. Jacqueline attended the University of Waterloo where she graduated from the MAcc and BAFM programs. Outside of work, Jacqueline enjoys watching basketball (visited 15+ NBA stadiums) and road tripping across North America.
	David Ha David is the designated representative for the School of Accounting and Finance. David graduated with a Masters of Accounting and a Bachelors of Accounting and Financial Management. After several years of professional practice as a Chartered Professional Accountant, David is now a faculty member in the School of Accounting and Finance and teaches business courses. David enjoys being active, travelling, and hiking.

Eligibility

Funding Policy

The AFEF Board will evaluate proposals on the criteria that:

1.SAF students benefit from the initiative in an educational manner

2.The organization requires funding

3.The organization is pitching for an event happening in the following term

i.e. if the event is in Winter, the proposal should be submitted in the prior Fall term

Examples of what are eligible and non-eligible expenses

Eligible for funding

Gift cards for speakers and judges
Prize money for case competitions
Food for delegates and guests
event promotion material
Buses to event venues
Room/venue fees

Not eligible for funding

Team social events
Video conference platforms
Alcohol
Gift card transaction fees
Charitable donations
Operational expenses (e.g. website)

Please note that AFEF will be following the University of Waterloo’s policies regarding in-person activities in Fall and only fund initiatives that follow said policies.

If you have any questions about the funding policy, please do not hesitate to contact the AFEF Board of Directors

How to Apply for funding

AFEF funding is approved and disbursed based on a proposal submission process. The proposal submission process happens on a next-term basis (three times per annum) in accordance with the steps outlined below. All funding proposals should be submitted one term in advance of the event/initiative it is intended for.

Proposal submission process

Submit a proposal
- Refer to the eligibility section for information regarding what should and should not be requested from AFEF.
- Use the submit a proposal form on the AFEF website to apply for funding before the term deadline.
If invited, attend pitch day & present to the AFEF Board of Directors
- Presentations of AFEF funding proposals occur once a term and provide the AFEF Board of Directors with a chance to hear about the advantages of each suggested proposal.
- Eligible organizations/individuals will be invited to present their proposal at the date and time specified via email after the proposal submission deadlines.
- Every proposal must be presented at this date; however, a proposer may choose a representative if they are unable to attend.
- Presentation Guidelines:
  - All presentations will be kept to a 5 minute maximum with a 5 minute Q&A session afterwards.
  - Make sure you describe the following:
    - The proposal, and how it benefits undergraduate SAF students
    - How many students could benefit and which clubs/organizations/courses could realistically benefit from this proposal
    - What other funding sources have you pursued? It is strongly encouraged that proposers DO attempt to obtain funds from other sources (MEF, your Faculty, corporate sponsorships) as well as from AFEF
    - For a department proposal, please indicate why the Faculty has not provided funding to cover this item
    - Reply to the existing email thread with your presentation deck (PowerPoint Presentation) to the AFEF Board in advance of the presentation.
If approved, submit a reimbursement package
- AFEF does not reimburse individuals directly. All reimbursements will be made to the specific club or society.
- In the event your proposal is approved for funding, please take into account the following guidelines:
  - AFEF provides funding on a reimbursement basis. After your event, you will submit a reimbursement package for the approved expenses
  - Reimbursement requests should be consolidated (only one PDF submission) to ensure that the reimbursement process is efficient for all parties
  - Refer to UWaterloo Finance's reimbursement process for processing timelines and payment methods
  - See Reimbursement Process below for more details

Acknowledgements

All applicants acknowledge:
1. Consent to allow AFEF to post a summary of their proposal and initiative in the event that the specific proposal is approved
2. The applicant or a designated representative must present a pitch to the AFEF Board to address questions about the proposal
3. A complete, formal estimate of costs associated with your project is required with your submission. This may include invoices, on-line quotes, or estimates
4. Funding decisions made by the AFEF Board of Directors are final. The AFEF Board provides acceptance communication confirming the extent of funding for successful applicants.
5. Funding may only be granted one-term in advance.
6. Any unused funds not claimed during the reimbursement process may not be carried over to another initiative or operating period.
7. If the cost of your project is higher than you expect, you or your group are responsible for the difference.

Reimbursement Process

Complete the AFEF Reimbursement Package within one month after your event. Reply to the existing email thread with AFEF: a copy of the reimbursement package to uwaterlooafef@gmail.com compiled with copies of all receipts in one PDF file. Ensure you keep all original physical receipts on hand in case requested.
AFEF will review the package to ensure all documents necessary are present.
If there are no issues, AFEF will issue a request for an invoice to WUSA for the funding granted.
Upon receipt of the invoice, AFEF will forward WUSA's invoice to SAF's financial officer for payment.
AFEF will email you notifying that the invoice is being processed for payment to your club’s account.
You may submit cheque request forms to the organization that is responsible for your club’s account to reimbursed individuals.
1. WUSA Clubs: log in to clubs.wusa.ca to access cheque request forms
2. SAF Clubs with sub-accounts under AFSA: cheque request forms can be found at uwafsa.ca

Projects Funded

Here are just a few examples of the amazing student initiatives supported by AFEF that can serve as an example of successful proposals and pitches.

Accounting and Finance Student Association (AFSA) Tax Clinic

With AFEF’s funding, we were able to give back to the volunteer mentors who played a major role in this year’s tax clinic. Waterloo’s first-ever virtual tax clinic would not have been successful without the consistent
support of 66 volunteer mentors who shared their time and expertise to mentor filers and file complex tax returns. Only with AFEF’s funding, we were able to reward the volunteer mentors for their hard work with gift
cards to make our volunteers feel valued and appreciated.

University of Waterloo Accounting Confernece (UWAC)

AFEF’s funding helped UWAC acquire these experienced SAF students and full-time accounting professionals by compensating them for their time, therefore encouraging them to participate in our events. This allowed UWAC to improve the quality of our events. As a result, UWAC fostered the development of current SAF students by providing them with valuable information and personalized advice.

University of Waterloo Orientation week

AFEF’s funding is used to support the series of events held during the orientation week to welcome incoming students who will be joining the School of Accounting and Finance (SAF) in the upcoming fall term. Specifically, funding is used to help encourage first years to sign up and engage in a variety of activities and events, while meeting their peers and making meaningful connections. This allows us to welcome incoming
students and help them transition into university life even before AFOW officially starts.

Governing Documents

AFEF Constitution

The AFEF Constitution (PDF) was created with the scope of defining the function, purpose, powers, and general administration for the Fund. The Constitution is a body of fundamental principles or established precedents to which AFEF is governed.

AFEF Bylaws

The AFEF Operating Guidelines (PDF) were created and approved by the AFEF Board of Directors in August 2015 to represent a modus operandi for the Fund.

Donations

AFEF is a non-profit organization primarily funded through donations from undergraduate students in SAF. Interest earned on the principal of this Fund is used to support various projects that enrich the educational experiences of SAF students at the University of Waterloo.

If you would like to make a donation to contribute to the growth of the Fund to support SAF students, please contact Associate Director of Advancement, Sheilaah Guthrie.