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5. Description: The Atlantic Salmon Endowment Fund (ASEF) is a one time conditional grant that will be invested in order to provide long-term funding for the operation of the Atlantic Salmon Conservation Foundation (ASCF). The ASCF will invest the funds and use the income to assist community groups in the restoration, protection and improved conservation of the Atlantic salmon resource in Atlantic Canada and Quebec. This will promote projects in research, conservation, habitat restoration and enhancement for the attainment of healthy and sustainable wild Atlantic salmon stocks and the projects it funds.

6. Strategic Outcome(s): Sustainable Fisheries and Aquaculture refers to an integrated fisheries and aquaculture program that is credible, science based, affordable and effective, and contributes to sustainable wealth for Canadians.

7. Summary of Results Achieved by the Recipient:In 2007, the ASCF will initiate start-up activities to establish the ASEF and develop their Strategic Plan, Statement of Investment Policy, and Audit and Evaluation Strategy. In subsequent years, the ASCF will evaluate applications and select those projects that best meet the objectives to conserve, restore and protect the wild Atlantic salmon stocks and their habitat in Atlantic Canada and Quebec.

The ASCF will develop an Audit and Evaluation Strategy for ultimate projects and to measure their overall performance in achieving the ASEF Program purpose and objectives identified in the Funding Agreement. No audit is presently scheduled. The Minister reserves the right to request an audit at any time.

5. Description: The fund, supported by a $30 million federal endowment from Fisheries and Oceans Canada in 1999, and managed by a non profit organization (Pacific Salmon Foundation), uses proceeds from the fund to undertake specific plans and activities to support salmon. The mission of the Pacific Salmon Endowment Fund is to: Conserve and rebuild Pacific salmon populations through strategic and focused efforts where people and resources are mobilized to work together to achieve common goals.

a) Sustainable Fisheries and Aquaculture refers to an integrated fisheries and aquaculture program that is credible, science based, affordable and effective, and contributes to sustainable wealth for Canadians

b) Healthy and Productive Aquatic Ecosystems means the sustainable development and integrated management of resources in or around Canada's aquatic environment through oceans and fish habitat management, and the critical science activities that support these two programs.

• spent approximately $3.2M and levered another $6.5M direct and $16.1M indirect funds to support 141 projects to conserve, restore and protect Pacific salmon and their habitat and to stewardship of the resource including increasing public knowledge and awareness.
• provided approximately $3.8M over 5 years for program management, resource capacity development and science activities to increase community awareness, attract third party funding, program visibility, leadership, financial, operational and evaluation support.
• Sustained salmon stock and improved habitat quantity, function and watershed health with the projects that contributed to healthy and sustainable Canadian Pacific salmon stocks in 7 key watersheds in BC.
• Increased the capital and revenue returns of the PSEF through such measures as contributions, partnerships and charitable donations for Capital Level effort (Lead Salmon Chair at Simon Fraser University), Recovery Plan level effort (Squamish Watershed Plan), and Project level effort (Englishmen River).
• Fostered and increased local stewardship efforts, education and awareness at the Englishmen River and Rivers and Smith Inlet to encourage and facilitate citizen engagement and cooperating with relevant stakeholders in order to achieve the purposes of the Society.

Evaluation undertaken in 2006 and results being reviewed by DFO.

http://www.psf.ca/02psefs/index.html