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Introduction to Heritage

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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  1. Introduction to Heritage Heritage Education Funds International

  2. Module Outline • Objectives • Heritage organization • ESP basics • Points to remember

  3. Objectives • Prepare new representatives • Outline Heritage’s organizational structure • Identify key partners & their roles • Review the basics of ESPs

  4. About the Organization • Comprised of two entities: • Heritage International Scholarship Trust Foundation • Heritage Education Funds International, LLC • Started in 1983

  5. 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

  6. 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

  7. Partners - Trustee • Butterfield Trust (Bermuda), Ltd. • Hold investments in trust as per Foundation • Oversee administration of scholarship fund & self-determined accounts • Safeguard plans & investments

  8. Partners - Other • Portfolio Advisor – Scotia Asset Management LP • Auditors – KPMG LLP • Legal Counsel – Lang Michener LLP

  9. ESP Overview • Co-operative education savings plan • Anyone can contribute • Effective way to save • Not subject to non-resident taxes

  10. Review Questions • Refer to the course book for review questions

  11. Points to Remember • Heritage organization • Heritage International Scholarship Trust Foundation • Heritage Education Funds International, LLC • Scholarship Committee • Partners • Depository – Bank of NT Butterfield and Son, Ltd. • Trustee – Butterfield Trust (Bermuda) Ltd.

  12. Points to Remember • ESP overview • Investment plans to save for post-secondary/tertiary education • Anyone can be a Subscriber • No contribution limit

  13. Thank You

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