Shiki is usually translated as "determination", when taken apart the first character (read right to left) means "intention; aspire; resolve; motivation". The second character is ki, and is recognized in many kanji as well as aikido.

The English text reads:

"Boys be ambitious, not for money or for selfish aggrandizement, not for that evanescent thing which men call fame. Be ambitious for the attainment of all that a man ought to be.
Founder Dr. Clark
Sapporo University, after Meiji

Ai in this case is related to the kanji ai in aikido, which here is translated as love. This still carries connotations of unification and harmony. Ko or hikari is natural light.

The English text reads:

"The great universal path of Aiki illuminates all people, opening the world to the truth.
Aikido Founder
Morihei Ueshiba