[Noisebridge-board] Investment committee

Shannon Lee shannon at scatter.com
Wed Feb 23 18:23:16 PST 2011


We are not our rules. 

--S

--

Shannon Lee
(503) 539-3700

On Feb 23, 2011, at 18:14, "Dr. Jesus" <j at hug.gs> wrote:

> 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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