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Dalton and Juanita Gillett Foundation - DALTON AND JUANITA GILLETT

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					 DALTON AND JUANITA GILLETT
        FOUNDATION
        FOUNDATION




            Produced for
          The Gillett Family




            By Dwight Gillett




    Date: November 14, 2009
Content

                    1
1.0 Rationale …………………………………………………….3

2.0 Formation of the Dalton and Juanita
    Gillett Foundation……………………………………..….5

3.0 Composition Of The Board Of Trustees…………….6

4.0 Terms of Reference………………………………………7

5.0 Membership…………………………………………………7

6.0 Fund Request……………………………………………….8

7.0 Operations…………………………………………………..9

8.0 Reporting…………………………………………………...10




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1.0 Rationale

Dalton and Juanita Gillett lived a humble life in a traditional
village setting along the Belize Old River in beautiful Burrell
Boom.     In Burrell Boom, Dalton and Juanita had nine
children, seven boys and one girl.

Dalton Sr. believed that hard work and good family values
were the necessary elements for a good family life. Dalton
and Juanita persevered in the hard times of the 1930’s ,40’s,
and 50’s in Belize and struggled to provide for their children
and extended family.

This persevering spirit of Dalton and Juanita Gillett,
eventually passed on to their children and grandchildren.
Working for oneself and providing for one’s family was
embedded in the mindset of the Gilletts’ family.

As a result of the entrepreneuring spirit within the Gillett
Family, the nine children evolved into self-made individuals
and did well for their family and community.

Hence, for three successive decades after the 50s the Gillett
Family were progressive and enjoyed gains and prosperity .
The Brothers became prominent businessmen engaging in
many sectors of the economy. The family motto became
one of owning and operating one’s own business to ensure
personal and financial success.

The level of successes enjoyed for decades was halted in the
late 1990’s. The Gilletts’ family businesses were overcome
by competition, lack of diversification and inadequate
successive planning thus leading to downfall of creative self
employment and financial sustainability.

The reality today is that the Gillett family no longer boasts of
the entrepreneurial successes. The comfort of providing for
one’s family was now in jeopardy. A new realization evolved
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among second generation Gilletts that what remained of the
first generation Gillett Brothers was insufficient to build
upon.

The economy had changed from traditional farming and
wood cutting sectors to processing and service oriented
businesses.      The second generation Gilletts never had
sufficient time to acquire the tools, skills nor the connections
in the business world to be able to provide the new types of
goods and services in demand.

Second generation however saw the need to provide good
education for their children. They realized that in order to
survive in a secondary and tertiary type of productive
economy in Belize the need exist to invest in educating their
children.

To no surprise, the education acquired in these modern
times does little in creating entrepreneurs but rather
employees of the public and private sectors.

Today, third and fourth generation Gilletts are being breaded
to become workers of limited incomes, chasing behind
dreams of higher living standards.         To compound the
situation, stories of past decades of prosperity linger on,
creating a false sense of prominence and hope for the
future.

The principles and foundation set by our forefathers has
slowly eroded thus it is imperative that today we take
action In anticipation of the struggling economy and darker
action.
days ahead, each member of the Gillett Family must first
perform a self analysis of his/her own situation and
thereafter collectively take the necessary actions in the best
interests of our children and our family name and tradition.

The pioneering spirit of Dalton and Juanita must resurface.
All hope is not lost. The second and third generation must
                               4
therefore be an inspiration and motivation and hope for the
younger generation.


2.0 Formation of the Dalton and Juanita Gillett
    Foundation

Collectively the Gillett Family can insulate itself from further
hardships by contributing to a Foundation. The creation of a
Dalton and Juanita Gillett Foundation can offer some relief
and assistance to family members as well as securing the
future educational, health and financial needs of the
upcoming generations.

The proposed Foundation will gear its efforts           toward
enhancing the welfare of the Gillett Family.

The Foundation will be comprised of members of the Gillett
Family.     A member constitutes any descendant born to
Winston, Selwyn, William, Alma, Rudolph, Phillip, Hubert,
Dalton and Anselm and their spouse or husband or their
significant other.

The Foundation will be presided over by a Board of Trustees
chosen from the membership.

The Foundation will be legally established with a specific
Charter outlining the roles and responsibilities of each
member and Administrators of the Foundation. The Charter
will also outline the purposes/objectives for which the
Foundation to be used.


3.0 Composition Of The Board Of Trustees

The Boards of Trustees composition is one representative
member per family; thus a total of nine members.

                               5
However, until the Foundation is fully established an interim
board will be established of seven members. Each member
must be appointed by the head of the first generation Gillett
Family or chosen unanimously by the members of the
respective family.

Foundation board members will be constituted for three
years; thereafter, a new board forms on the appointments of
the leading families.

The Board will be further subdivided into two committees.
One committee will concentrate its work on concerns of
Health, Education and Emergencies (HEEC). Emergencies
include loss of job, auto accident/incident, injury, loss of
family member.      The other committee will focus on
Investment Opportunities (IOC).

The Chairperson is to be selected by Board of Trustees
members. Sub-committees should be four members for
HEEC and three members for IOC. Each committee appoints
a coordinator who reports to the larger Foundation Board of
Trustees.

An Office of the Board of Trustees with contact information
will be opened to assist in the administrative work of the
Foundation. As the Trust Fund begins to grow, the possibly
of employing an administrative secretary to handle the
administrative tasks should be considered by the Board of
Trustees.




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4.0 Terms of Reference

         To manage the         financial contributions of its
         members in accordance with operating procedures
         of the Board of Trustees;
         To ensure continuous collection and safe keeping
         of funds of contributing members;
         To review funds request from contributing
         members for the general purposes of education,
         health, emergencies and business opportunities;
         To facilitate funds distribution upon approval;
         To ensure that assistance be provided to family
         members in times of emergencies;
         To report on the financial status of the Foundation
         to the wider membership on a periodical basis;
         To study and present information on current
         trends in the economy to contributing members;


5.0 Membership

Once an individual is a descendant of Juanita and Dalton
Gillett or a spouse or husband or significant other to a
descendant, that person becomes eligible to participate and
contribute to the Dalton and Juanita Gillett Foundation.

Each member contributes an amount on the Foundation that
is determined by the Board of Trustees.       Contributions
should be made payable to the Dalton and Juanita Gillett
Foundation via a direct debit of the amount on the 15th or
Ending of the Month, or both 15th and Ending to an amount
agreeable to both parties (Board of Trustees and the
Contributing Member). A suggested amount is $20 BZ per
person per month.

A Contributing Member may contribute for his/her family or
for himself/herself.

                             7
Each contributing member will have an account/ledger to
document the amount of funds contributed at specific dates.
The ledger will be stored in the office the Board of Trustees.

Contributing members can access information on their
account upon request from the Office of the Board of
Trustees.

6.0 Fund Request


A Contributing Member can request assistance for him/
herself or/and for his/her family.

The amount requested should follow the formula:

    Five times of the contributing member balance.
    (eg. If $500 amount is requested, the contributing
    member must have at least $100 in contribution on
    his/her account in the Foundation)

The formula is designed to ensure          members    provide
continuous support for the Foundation.

The amount requested must be repaid in full plus a 5%
simple interest to cover administrative cost.

Repayments terms and conditions will be determined by the
requesting member and the Board of Trustees. Repayment
period should not exceed more than two years except under
special circumstances determined by the Board of Trustees.

A mechanism must be in place to allow for equity in the
approval and dissemination of monetary assistance to family
members.

In addition, a Privacy Policy for the Foundation will be
developed to ensure that individual personal information are
                              8
secured. The Foundation will not share personal information,
except as required by governmental entities or legal
process.


7.0 Operations


An Office will be established for record keeping of individual
accounts. All contributions by members will be placed into
an account called Dalton and Juanita Gillett Foundation
Account at a leading financial institution.

The Foundation Account can only be access by members of
the board who are tasked with the responsibility of
accounting for the Funds. The account will require two
signatures on all cheques for disbursements.

The Board of Trustees to meet on the first Thursday of every
month to review applications for assistance and/or to discuss
matters of interest to the Board.

Matters facing the Board will be separated into two parts;
namely, the Health, Education and Emergency Committee
and the Investment Opportunity Committee.

The Board can decide whether to discuss the matters
separately in committees or as an entire Board.

If the matters are to be discussed separately, then a date
and time is to be established for committees to convene.

At least four members of the Board must be present to form
a quorum; thereby, a meeting may proceed.

Decisions and discussions at the Thursday Board Meeting are
to be documented (Minutes) by a recording secretary.

                              9
This minutes document of the Meeting then becomes the
source document for the preparations of assistance to a
family member or preparation of information for
dissemination to contributing members of the Gillett Family
(Archive).


8.0 Reporting

The Board of Trustees should have two general meetings per
year to inform contributing members of the status of the
Foundation. The general meetings can be a form of publicity
and encouragement for attracting other family members to
become part of the Foundation.

The coordinators of the two sub-committees should report to
the Board of Directors on the proposed request for
assistance by a contributing member.


A semi-annual report will be published by the Board of
Trustees outlining the overall contributions, assistance given
members and on new matters and concerns.

A Dalton and Juanita Gillett Foundation Website will be
developed to allow contributing member’s access to
information about the Foundation and to provide updates on
the Foundation activities.




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