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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

Introduction to Heritage

Heritage Education Funds International

module outline
Module Outline
  • Objectives
  • Heritage organization
  • ESP basics
  • Points to remember
objectives
Objectives
  • Prepare new representatives
    • Outline Heritage’s organizational structure
    • Identify key partners & their roles
    • Review the basics of ESPs
about the organization
About the Organization
  • Comprised of two entities:
    • Heritage International Scholarship Trust Foundation
    • Heritage Education Funds International, LLC
  • Started in 1983
scholarship committee
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
partners depository
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
partners trustee
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
partners other
Partners - Other
  • Portfolio Advisor – Scotia Cassels Investment Counsel Ltd
  • Investment Partner – CIBC Wood Gundy
  • Auditors – KPMG LLP
  • Legal Counsel – Lang Michener LLP
esp overview
ESP Overview
  • Co-operative education savings plan
  • Anyone can contribute
  • Effective way to save
  • Not subject to non-resident taxes
review questions
Review Questions
  • Refer to the course book for review questions
points to remember
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.
points to remember12
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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