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Introduction to Heritage. Heritage Education Funds International. Module Outline. Objectives Heritage organization ESP basics Points to remember. Objectives. Prepare new representatives Outline Heritage’s organizational structure Identify key partners & their roles

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Introduction to Heritage

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Introduction to heritage l.jpg

Introduction to Heritage

Heritage Education Funds International


Module outline l.jpg

Module Outline

  • Objectives

  • Heritage organization

  • ESP basics

  • Points to remember


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Objectives

  • Prepare new representatives

    • Outline Heritage’s organizational structure

    • Identify key partners & their roles

    • Review the basics of ESPs


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About the Organization

  • Comprised of two entities:

    • Heritage International Scholarship Trust Foundation

    • Heritage Education Funds International, LLC

  • Started in 1983


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Scholarship Committee

  • Established by the Foundation Board of Directors

  • Responsibilities include decisions on:

    • Qualifying post-secondary institutions

    • Scholarship awards eligibility

    • Advancement and deferment of payments

    • Per unit payout value each year


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Partners - Depository

  • Bank of N. T. Butterfield and Son, Ltd.

    • Receive contributions

    • Deduct membership fees

    • Remit balance to Trustee

    • Receive savings on maturity for subscriber


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Partners - Trustee

  • Butterfield Trust (Bermuda), Ltd.

    • Hold investments in trust as per Foundation

    • Oversee administration of scholarship fund & self-determined accounts

    • Safe guard plans & investments


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Partners - Other

  • Portfolio Advisor – Scotia Cassels Investment Counsel Ltd

  • Investment Partner – CIBC Wood Gundy

  • Auditors – KPMG LLP

  • Legal Counsel – Lang Michener LLP


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ESP Overview

  • Co-operative education savings plan

  • Anyone can contribute

  • Effective way to save

  • Not subject to non-resident taxes


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Review Questions

  • Refer to the course book for review questions


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Points to Remember

  • Heritage organization

    • Heritage International Scholarship Trust Foundation

    • Heritage Education Funds International, LLC

    • Scholarship Committee

  • Partners

    • Depository – Butterfield and Son, Ltd.

    • Trustee – Butterfield Trust (Bermuda), Ltd.


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Points to Remember

  • ESP overview

    • Investment plans to save for post-secondary education

    • Anyone can be a Subscriber

    • No contribution limit


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Thank You


  • Login