McGill,
Yes, indeed, the University donates approx $10,000 of the $35,000 budget. This is purely liquid cash. The project is deemed to be worth approximately $55K..... which is.... i dunno in USD.
I hope you guys will have a car ready for next year's University of Toronto Formula SAE SHOOTOUT!; we have sponsorship for it, and it looks like it will be held at Mosport!!! more details to come!
University of Toronto Formula SAE Racing Team
www.fsae.utoronto.ca