Vision Statement: “Brokenhead Ojibway Nation is a proud Nation that is working towards building a healthy, independent, self- sustaining, evolving community that strives to meet the needs of its citizens by making economic development and our Ojibway identity priorities in every aspect of our planning”.
BON Corp was established in response to the growing need for a service organization to carry the specific mandate of delivering the Economic Development program for the community.
BON Corp is intended to be the economic development arm for the benefit of the Nation that would be:
- a corporate structure (creating the legal entities and relationships owned by the First Nation to carry out its economic development); and
- a governance structure (establishing the processes, roles and responsibilities).
The above structures allows for:
- reducing liability exposure to the Nation (operating at arms length from the Nation); the liability for the business operations remains with that separate legal entity, and should not flow back to the First Nation
- maximizing profits (by minimizing taxes and avoiding own source revenue claw backs by Canada); and
- separating political considerations from business decisions.
The businesses of Wavers, BON Community Store, BON Pharmacy and BON Grocery Store (all separate legal entities) currently operate under the BON Development Corporation Structure and direction of the Board of Directors.
The current Board of Directors are as follows: President – Wendell Jr. Sinclair; Vice President – Allan Hocaluk , Secretary – Christopher Kent, Directors: – Deborah Smith, Kevin Thomas
Directors’ Roles and Responsibilities
The Directors of the Corporations are legally responsible for overseeing the operation. The Directors are the ones that hold the legal decision and voting authority. Directors have specific duties to oversee and ensure that corporate funds are accounted for, and not distributed or paid out without the correct authorization and accounting.
As directors and fiduciaries of the corporation, one of our primary duties is to ensure that the money, property, and assets of the corporation are maintained, protected and distributed appropriately.
Note: A Director’s fiduciary duty obliges the Director to act in the best interest of the corporation, with loyalty, honesty and good faith.