The Retired Teachers Legacy Foundation

The Retired Teachers Legacy Foundation, was established by the RTO Executive in 1994.

 

Objectives of the Legacy Foundation:

  1. To solicit; accept; receive; acquire by grant, donation, legacy gift, bequest; or otherwise; any kind of real or personal property and to enter and carry out agreements, undertakings and conditions in connection therewith;
  2. To disburse annually the donations, Teachers Plus Credit Union rebate, return on investments and First-Rate Savings interest from the previous year.

Guidelines:

  1. This annual disbursement is to honor the life and work of former teachers in Nova Scotia.
  2. This annual disbursement is to benefit children younger than the age of 21 years.
  3. Annual disbursement(s) may benefit institutes which are defined as a society or organization founded for an educational, medical, social or similar purpose.

Operational Procedures of the Legacy Foundation:

  1. The audited financial statement of the Legacy Foundation will be published in "The Retired Teacher".
  2. The Board of Directors shall be the RTO Executive Committee who shall serve on a voluntary basis and not be reimbursed for out-of-pocket expenses.
  3. Expenses for postage, stationery and promotion will be borne by the RTO.
  4. All donations to the Legacy Foundation will be invested in term deposits, deposit certificates, government certifications/savings bonds or other avenues as approved by the Board of Directors.

Last Updated: Sunday, October 7th., 2018