Elders Heritage Fund
Purpose:
The Elders Heritage Fund will distribute half of its income annually to the Dehcho First Nations for the purposes of the Elders Heritage Fund and invest the other half of the income as capital. Every five years, one half of the capital appreciation earned in the Elders Heritage Fund will be distributed to the Dehcho First Nations for the purposes of the Elders Heritage Fund. Should the Dehcho First Nations wish to maintain the growth of capital of this Fund, they may choose to limit the distributions from time to time if there are extended periods of higher inflation or economic downturns. This Fund is viewed as an investment in the Dehcho First Nations cultural future.
The Trustee shall create the Elders Heritage Account within the elders Heritage Fund, which will be available for investments in Elders Projects, which will be funded from annual allocations equal to:
- One-half the annual Net Income from the Elders Heritage Fund; plus
- One half of the increases in the value of the Fund of the Elders Heritage Fund allocated every five years.
Commencing in 2007, by April 30th in each year, the Elders Heritage Account, as valued at December 31st in the prior year, shall be eligible to be used by the Trustee for project for the benefit of the Elders, approved by the Investment Management Board, on the advice of a Council of Elders, in accordance with a policy to be developed, similar to Schedule 1, to the extent that the Elders Heritage Account has not already been used in prior years.
Please see Schedule 4 – Elders Heritage Investment Policy
