When you want an apple, you don’t cut down the whole apple tree to get it.
It’s like that with the Haisla Nation’s money. We are in a fortunate situation to be able to provide services through our Own Source Revenue – that’s what we call the money we have earned through business partnerships.
Haisla Nation Council wants to make sure Haisla members get the apple without losing the tree.
A Trust takes the Nation’s funds – the ‘principal’ amount – and secures it into the account. That account will earn interest. We can take that interest and use it to pay for programs and services for Haisla.
This way, we never chip away at the principal.
A Trust, under law, lasts for up to 80 years. With this kind of management, the money we put in the Trust now will be there when the term is up.
In the meanwhile, access to the money and interest is protected by Trustees, who will be elected by Haisla members and one appointed by HNC administration.
Ultimately, a Trust is just that: trusting we’ll have resources to last for generations.
What is a Trust?
- A legal agreement which can last up to 80 years
- Will hold specific funds for the benefit of Haisla members, managed by Trustees, and will release funds only for specific purposes set in the Trust agreement
- The Trust will hold a percentage of money and never spend it.