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Heiltsuk Economic Development Corporation

Heiltsuk Economic Development Corporation. Purposes. Separates politics from business interests Ensures tax exemption Focuses and brings stability to existing and new businesses Permits HTC to focus on governance and services Promotes profitable businesses

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Heiltsuk Economic Development Corporation

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  1. Heiltsuk Economic Development Corporation

  2. Purposes Separates politics from business interests Ensures tax exemption Focuses and brings stability to existing and new businesses Permits HTC to focus on governance and services Promotes profitable businesses Improves ability for outside money

  3. Council Trustees Directors Forestry Ltd. Forestry LLP HEDC Structure • Heiltsuk Tribal Council appoints Trustees • Trustees appoint directors to HEDC Board • No Council Members or Trustees may sit on Board • Directors hire CEO

  4. HEDC Structure Heiltsuk Tribal Council Bare Trust (5 people) Reversionary Trust (3ppl) Board of Directors (7 people) One Economic Development Corporation, headed by a Chief Executive Officer, oversees: Ec Dev Corp CEO • multiple operating business units (such as the forestry company ,the fisheries program), band store and Shared Administration Operational Business Unit GMs Treasury • shared administrative services such as finance, human resources, information technology, business development, and purchasing.

  5. HEDC Structure Council Bare Trust (5 people) Reversionary Trust (3ppl) Board of Directors (7 people) The Heiltsuk Economic Development Corporation reports to a single, seven-person Board of Directors. Ec Dev Corp CEO Shared Administration Operational Business Unit GMs Treasury

  6. Operational Business Unit GMs HEDC Board of Directors Primary Responsibilities: • Oversee management to ensure that the HEDC’s affairs are being conducted in a way that achieves the HEDC’s objectives. • Entrusted with highest responsibility for the Heiltsuk’s collective business enterprises. HTC Council Bare Trust Bare Trust Reversionary Reversionary (5 people) (5 people) Trust (3ppl) Trust (3ppl) Board of Board of Directors Directors (7 people) (7 people) Ec Ec Dev Corp Dev Corp CEO CEO Shared Shared Operational Operational Treasury Treasury Administra - Business Business Administration tion Unit GMs Unit GMs

  7. HEDC Directors Saphire Humchitt – Interim Chair Allen Edzerza Bill Dumont Larry Jorgenson Lois-Anne Arnold

  8. Operational Business Unit GMs Bare Trustees Primary Responsibilities: • Appoint and oversee the Board of Directors of the EDC. • Alvina Duncan, Pat Housty, Leona Humchitt, Connie Newman HTC Council Bare Trust Bare Trust Reversionary Reversionary (5 people) (5 people) Trust (3ppl) Trust (3ppl) Board of Board of Directors Directors (7 people) (7 people) Ec Ec Dev Corp Dev Corp CEO CEO Shared Shared Operational Operational Treasury Treasury Administra - Business Business Administration tion Unit GMs Unit GMs

  9. Operational Business Unit GMs Reversionary Trustees HTC Council • The Reversionary Trust’s primary role is to receive surplus cash from the HEDC and hold it in trust until directed by Heiltsuk Tribal Council. • Louisa Willie, Stephen Hunt II, Gilbert Jackson Bare Trust Bare Trust Reversionary Reversionary (5 people) (5 people) Trust (3ppl) Trust (3ppl) Board of Board of Directors Directors (7 people) (7 people) Ec Ec Dev Corp Dev Corp CEO CEO Shared Shared Operational Operational Treasury Treasury Administra - Business Business Administration tion Unit GMs Unit GMs

  10. New HEDC Companies Heiltsuk Coastal Forest Products Ltd. Bella Bella Airport Authority Ltd. Waglisla Cablevision Ltd. Lama Pass Fuel Company Ltd. Waglisla Band Store Ltd. Waglisla Freight Ltd. Heiltsuk Fisheries Management Ltd.

  11. New Joint Venture First Nations Business Advisory Services Ltd. Jointly owned by HEDC and Morine and Company chartered Accountants Provides accounting and business planning for HEDC companies Long term to be leading provider of business advisory services to First Nations.

  12. Core Principles and Values Accountability Fiscal discipline Sound corporate governance Heiltsuk Values – respect, sharing, honor and caring for one another and the natural world. • Transparency • Clarity • Full Disclosure • Declaration of conflicts of interest • Sustainability

  13. Thank You Comments , suggestions and ideas for your development corporation – HEDC_info@shaw.ca

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