Vuntut Gwitchin Business Trust
Over the past decade the Vuntut Gwitchin First Nation has directed the evolution of its Land Settlement Compensation dollar investment program while gaining vital experience in the stewardship and management of capital assets.
In late 2002 the First Nation created an Advisory Committee comprised of leadership, citizens and professional advisors to assess the implications of creating an investment trust for the Compensation assets.
In October 2003 a Special General Assembly of VG citizens approved the draft Trust Deed subject to securing approval from tax authorities.
In May of 2004, the First Nation received positive feedback from tax advisors and from federal tax authorities.
On May 21st, 2004, anticipating the imminent creation of the VG Trust, Chief and Council appointed five Trustees to oversee Trust operations effective July 1, 2004.
The Vuntut Gwitchin Business Trust was established in May 2006 and entered into a limited partnership with the Vuntut Development Corporation in July 2006. The primary objective of the trust is to provide funding assistance for economic development opportunities sourced by the Vuntut Gwitchin Limited Partnership (VGLP) and to allow the VGLP to perform its responsibilities.
The objectives of the Trust includes providing protection from the inadvertent application of tax to the Vuntut Gwitchin First Nation, ensuring the prudent management of the Trust Property and providing independent administration, investment and custody thereof, consistent with the duties and responsibilities of the Vuntut Gwitchin First Nation
The goal is to ensure a healthy, unified and self-reliant people of the First Nation while conserving and enhancing our environment and culture.