I am indeed happy to lead the management team of The Mico Foundation at this time when The Mico University College is on the verge of changing its status to full university. As Secretary/Manager, I manage a small team of eight employees who understand the Foundation's obligations and developmental roles and are committed to ensuring its success. In like manner, the Board of Directors has guided the undertakings of the Foundation through the altruistic commitment of its founders.
The development of the Mico Foundation in 1981 has added a new dimension to The Mico as a trust institution. It gave focus to a new perspective regarding the measures to acquire property and to protect and use its assets to support the institution's ongoing developmental needs. Since inception, the Foundation has invested in property acquisition; beautification of the grounds; development of student accommodation; improving the technical support systems, the aesthetic appearance of the University College by building a new entry gate and perimeter fence and the water supply by drilling a well among other capital development projects. The Mico Foundation as a Charitable non-profit organization champions the cause and realization of infrastructure development, and astute property and assets management. The Foundation provides financial resources for grants and scholarships to empower and respond to the needs of students and staff.
A significant part of its obligation is the protection and maintenance of the legacy of the Lady Mico Trust. As a Charitable Organization, the Foundation earns its income from the support and generosity of graduates and well-wishers, project management, property rental and other entrepreneurial enterprises. Financial gains from these enterprises are used to improve the infrastructure of the University College; support students, employees, and outreach projects. It is undeniable that the Mico has been outstanding in the development of human capacity for education for over 180 years. However, the fourth industrial revolution with its intensification of new technology and artificial intelligence has brought new challenges that call for greater resources to engage and survive in this new dispensation. The financial support of all stakeholders, alumni, well wishers and friends is needed as the institution advances, particularly as it changes from University College to full University.
The vibrant presence of The Mico Alumni Association Limited (MOSA) contributes to the protection of the legacy. Internationally, The Mico University College Foundation of the America (MUCFA), was established as an IRS approved 501 (c) (3) non-profit organization in the United States of America and has enabled US donors to make tax-deductible donations of funds, gifts, goods and services to The Mico. It is anticipated that there will be significant expansion in the role and types of partnership with stakeholders and are projected to yield mutual benefits while contributing to expanding critical human resource to advance sustainable national development.
I applaud the efforts of all our stakeholders whose tireless work gives valuable support to the University College. The Lady Mico Trust has been a consistent and steadfast support for more than 180 years.