Each year the Squamish Nation Trust disburses up to 20% of the Trust income to Membership in the form of Distribution, the remaining income is split between funding projects and putting in the principal fund to keep generating investment income. Since the Trust’s inception 20 years ago, the Trust has funded over $19 million for projects and disbursed over $29 million in Membership distribution and maintained the principal of approximately $67 million.
The Trustees want to ensure that the principal will continue to earn as much as necessary to benefit the future generations. This year, largely due to COVID, there has been a lot of market instability and we have experienced low returns on the investments.
To this end and to ensure that the Trust property can keep up with inflation to maintain its buying power, the Trustees have made the difficult decision put the needs of the future generations ahead of the present and will not fund any projects from the 2020 income. The needs of the future generations in our decision making is good governance and is the best decision for the long term.
There will be no project funding in 2021.
The Trust does expect to disburse a membership Distribution as usual in April 2021.
Squamish Nation Chiefs and Council would like to take this opportunity to thank all the Nation members for their interest in applying for the position of Squamish Nation Trustee.
Squamish Nation Chiefs and Council would like to acknowledge the following Trustees selected for a four year term effective October 1, 2016 -September 30, 2020:
Squamish Nation Trustees :
Squamish Nation Chiefs and Council would like to acknowledge the following Trustees selected for a two year term effective October 1, 2016-September 30, 2018:
Squamish Nation Trustees :
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On May 11, 2000, the Government of Canada (“Canada”) signed a Settlement Agreement (“the Agreement”) with the Nation to settle a series of claims first commenced by the late Chief Joe Mathias on June 30, 1977. Nation Members ratified the terms of the Agreement. As compensation for this settlement, Canada paid the sum of $92.5 Million into a Trust account governed by a Trust Agreement. Under the terms of the Agreement, the Squamish Nation Trust (the “Trust”) has been established to hold the funds remaining after the initial distribution and any income earned on the remaining funds from the settlement for the benefit of the current and the future generations of Members of the Nation. The Nation Trustees are appointed by the Council of the Nation to serve a two-year term. No members of Council are eligible to serve as a Trustee. The Trust Agreement requires an independent Trust Corporation to be appointed as the fifth Trustee. The Trustees are to administer the Trust in accordance with the Trust Agreement and the Comprehensive Plan which has been approved by Membership, and an established Investment Policy.
The Squamish Nation Trust is administered by the Trustees for the benefit of current Members and future generations of the Nation.
Funds from the income may be available on an annual basis for projects after all Trust expenses are paid (including 20% of the income for annual distribution to Members). These funds are made available to Members and Squamish Nation Departments. Please contact the Project Administrator for further information.
All Squamish Nation Members, groups of Members and Nation Programs are eligible to submit a proposal. Proposals are limited to the Purposes set out in section 4.5 of the Trust Agreement.
The Comprehensive Plan was ratified in November 2000 and the Members identified the following order of priorities:
Due to the limited amount of funds available, the Trustees are not able to consider requests for the following: