Goodman donates mystery amount to Laurentian

Dundee Corp. (DC-T) CEO Ned Goodman and the Goodman Family Foundation have made a significant financial contribution to Laurentian University in Sudbury, Ont.

The money will go towards a $20-million endowment fund in support of the university’s newly created Goodman School of Mines, which remains under development. The exact amount was not disclosed, but the university said that with this “historic gift” and other donations, the school has raised more than half of the $20 million needed.

“It will support the development of new mining-related courses and programs, improvements to the learning environment and opportunities inside and outside the classroom, student recruitment, career and placement services and guest speakers, and other specific uses of funds to be mutually agreed upon,” Laurentian president Dominic Giroux explains.

Goodman has worked for more than 40 years as a geologist, securities analyst, portfolio manager and senior executive. He was instrumental in turning the Dundee group of financial companies into a $50-billion mutual fund business.

“We want to be associated with Laurentian University because it’s undoubtedly the go-to university for mineral exploration and mining in Canada,” Goodman said after a recent visit to Sudbury.

Goodman was also attracted to the cause as he is a resident of Barrie, about a third of the way between Toronto and Sudbury. “I want to do everything possible to help secure Laurentian University’s new downtown Barrie campus,” he says. “Barrie absolutely needs it, and Laurentian has so much to offer.” The university has pledged $14 million towards its downtown Barrie campus, which is being matched by the municipality.

The university is also searching for a founding executive director of the Goodman School of Mines.

Ontario’s Minister of Training, Colleges and Universities Glen Murray released a statement thanking the Goodman family for the contribution. The minister highlighted mining’s contribution to the province’s economy, which is enhanced by institutions such as Laurentian University. “We would not have a City of Toronto without great cities like Sudbury,” he said. “We are interdependent on each other.”