[Noisebridge-board] Investment committee

Dr. Jesus j at hug.gs
Wed Feb 23 18:14:29 PST 2011


On Wed, Feb 23, 2011 at 6:01 PM, Kelly <hurtstotouchfire at gmail.com> wrote:
> You mean this?
>
> e. Investment Committee
> This corporation shall have an investment committee comprised of not
> less than three directors. The committee shall act with the care,
> skill, prudence, and diligence under the circumstances then prevailing
> that a prudent person acting in a like capacity and familiar with
> these matters would use in the conduct of an enterprise of like
> character and with like aims to accomplish the purposes of the
> institution. Individual investments shall be considered as part of an
> overall investment strategy. The committee shall consider present and
> future financial requirements, expected total return, general economic
> conditions, the appropriate level of risk, appropriate levels of
> income, growth and long-term net appreciation, and the probable safety
> of the funds. The committee may retain professional money managers,
> and shall develop an investment policy that shall be reconsidered at
> feast annually, in light of the changing needs of the corporation,
> economic conditions, and any other factors that may affect the
> corporation's tolerance of risk and need for income. The committee may
> recommend the retention of property contributed by a donor (whether or
> not it produces income), and a donor's request should be a factor in
> making the determination of whether to sell a particular asset
> contributed by a donor.
>
> It's written in business-ese and doesn't have any clear parallels to
> existing structures at Noisebridge.

Do you think that there should not be such a committee and that the
wording of this section should be changed to reflect that?


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