The Retired Teachers Legacy Foundation
The Retired Teachers Legacy Foundation, was established by the RTO Executive in 1994.
Objectives of the Legacy Foundation:
- 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;
- To disburse annually the donations, Teachers Plus Credit Union rebate, return on investments and First-Rate Savings interest from the previous year.
- This annual disbursement is to honor the life and work of former teachers in Nova Scotia.
- This annual disbursement is to benefit children younger than the age of 21 years.
- 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:
- The audited financial statement of the Legacy Foundation will be published in "The Retired Teacher".
- 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.
- Expenses for postage, stationery and promotion will be borne by the RTO.
- 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