The ICF is a privately registered foundation which reports to its member regional districts and First Nations. The ICF was incorporated under the laws of the Government of Canada on January 1, 2004 and is a registered charity under the Income Tax Act and, as such, is exempt from income taxes and able to issue donation receipts for income tax purposes. In order to maintain the status of a charitable organization under the Act, the Foundation must meet certain requirements within the Act. In the opinion of management, these requirements have been met. The Foundation’s purpose is to preserve and use the corridor in perpetuity, as one continuous corridor to connect and benefit all Island and First Nations communities along the corridor.
The Board is made up of 12 directors appointed by the member bodies. The Chief Executive Officer oversees the daily operations and works through policy and authority as mandated by the Board.
The Board has contracted with Granneke Management and Consulting Services to provide the Chief Executive Officer services and the daily management functions.
A Financial Officer and First Nation Liaison are employed by the ICF.
Meyers Norris Penny LLP presents a yearly review to the ICF Board of Directors.
The Board has authorized MNP to upgrade the ‘review’ to an ‘audit’ report for the year 2012. Efforts will also be made to ensure the headings and reporting terminology is consistent between the annual budget and the financial statements.