Heather Wright/The Independent

A long-standing tradition of honouring LCCVI graduates will soon come to a close.

The Nicol Foundation says it will wrap up the foundation which gave $10,000 US student scholarships at the end of 2029.

Tim Hummel, the Canadian representative to the Nicol Foundation and former LCCVI principal, said in a news release “the balance of funds available to distribute to recipients has declined over the years as anticipated, to a point where only a few more scholarship cycles will be possible.

“Including this graduating class of 2026, there will be only four more sets of awards provided to LCCVI students, with the final allocation being available to the graduating class of 2029, the current Gr 9 class at the school.” 

The first Nicol Scholarships were given out in 1987. They were a gift from Robert Nicol, a former student who grew up across the road from the school but only attended classes until Grade 10, when he enlisted during World War II at the age of 15. Nicol returned to Petrolia, but never went back to high school. LCCVI held a place in his heart and as he aged, he set up a plan which would benefit the students at the school. He also left gifts to the Town of Petrolia for the Nicol Library and Victoria Hall as well as the Catholic Church.

Hummel says Nicol’s $1.3 million foundation has given out 426 scholarships in 40 years, after foundation directors, Gordon Giles, a chartered accountant, Richard Mills, a stockbroker and Floyd Hull, Nicol’s attorney, invested wisely in the 1990s.

In all, $5 million in scholarships have been given out in 40 years.

Once the last scholarships are given out in 2029, the foundation’s accounts will be properly closed, with the remaining money being given to the Town of Petrolia, as Nicol’s will sets out.

More to come