An Important Announcement Concerning some Coming Changes in the Operations of the Reid Trust
In accordance with the final wishes of Dr. W. Stanford Reid and his wife Priscilla the Reid Trust has been issuing financial grants to individuals and organizations for almost two decades. The Reids gave to the trustees they appointed a free hand in administering the proceeds of their estate for the benefit of Reformed and Presbyterian theological education in Canada.
Since 1999 the Trust has released over $800,000.00 in funding for such projects (while retaining the original amount of capital entrusted to it in its portfolio). In keeping with legislation that restricts the lifespan of testamentary trusts the Reid Trust is now obliged to change its legal status and is in the process of securing authorization to hold charitable status under the Canada Revenue Agency.
As a consequence there will be some changes that will be required to the application and grant issuing policies of the Trust to satisfy CRA regulations. Many of the types of projects for which the Trust has provided funding in the past will continue to be supported – a few will not.
As soon as our new status is confirmed we will post revised information here on the website for the guidance of prospective applicants to the Trust. In the meantime, prospective applicants can prepare their applications for our April 1, 2018, application deadline. We will then assist applicants who continue to be eligible for funding to understand what the implications of the CRA regulations will be for their particular application to the Trust.
The Priscilla and Stanford Reid Trust remains firmly committed to the encouragement and support of Reformed and Presbyterian theological education in Canada.