# Cégep du Vieux Montréal Severs Ties with Its Foundation The institution ends its partnership with the foundation holding 2 million dollars in assets. - **Source:** [La Presse](https://www.lapresse.ca) - **Published:** 2026-11-09 - **Topic:** [Business](https://brifing.si/c/business) - **Original article:** - **On Brifing:** https://brifing.si/s/79569800-e508-4bbf-9dd2-3b9d5b9d8492 ## Formal Institutional Divorce The Cégep du Vieux Montréal officially severed ties with its independent foundation effective November 1, 2025. This decision, announced in December 2025, impacts approximately 2 million dollars in assets originally intended for student support. The college administration aims to minimize disruptions to ongoing projects while navigating this significant structural change. ## Financial Context and Deficits The separation occurs amid financial strain for the college, which faced a projected 2.37 million dollar operating deficit for the 2025-2026 academic year. Although this figure was later revised down to 1.3 million, the institution relied on accumulated surpluses to balance its budget, heightening the sensitivity surrounding the foundation's remaining capital. ## Governance and Control Disputes Michel Gagné, a former foundation director, cited fundamental disagreements regarding the college's desire for total control over the foundation's operations. Tensions escalated when the college ceased sending representatives to the foundation's board of directors in 2024, leading to a breakdown in communication and a subsequent impasse regarding strategic institutional alignment. ## Donor Recognition Conflicts A primary point of contention involved the lack of concrete recognition for major donors within the college facilities. The foundation advocated for naming rights or plaques, similar to university practices, which the college resisted. This disagreement over donor visibility contributed to the cooling relationship between the two entities over several months. ## Future of Foundation Assets The foundation is considering rebranding to continue its mission, potentially under a name like the 'Foundation for Quartier Latin Students.' Despite the name change, officials maintain that the 2 million dollars will still be directed toward students of the Cégep du Vieux Montréal, adhering to the original mission established thirty years ago. ## Administrative Internal Review Mylène Boisclair, the college's director general, stated that the institution is currently exploring the creation of an internal endowment fund. While no final structure is confirmed, the college intends to ensure that future projects remain aligned with its core mission, despite the loss of the dedicated external foundation support mechanism. ## Student Association Concerns The Cégep du Vieux Montréal's student association has publicly criticized the foundation for a lack of transparency. Representatives noted they were excluded from board meetings and failed to receive reports in recent years. Specifically, the association is currently seeking the release of 10,000 dollars in funds that were previously earmarked for them. ## Long-term Institutional Impact While the college claims the transition will not jeopardize current activities, the loss of a dedicated fundraising arm creates uncertainty. The foundation's leadership acknowledges that the public conflict may deter future donors, complicating long-term financial sustainability efforts for the institution as it seeks to stabilize its internal fiscal management strategies. ## Sources covering this story - https://www.lapresse.ca/actualites/education/2026-11-09/enseignement-superieur/divorce-entre-le-cegep-du-vieux-montreal-et-sa-fondation.php?utm_source=rss&utm_medium=fil&utm_campaign=actualites — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._