[Noisebridge-board] Investment committee

Albert Sweigart asweigart at gmail.com
Wed Feb 23 18:29:18 PST 2011


I'm not sure what you mean. Except for our consensus process, right?
We couldn't simply ignore someone's choice to block consensus, and
then pass the item or go forward with the proposal anyway, could we?
We have at least that rule. Or did you mean something besides "we do
not have mandatory rules we are obliged to follow"?

-Al


On Wed, Feb 23, 2011 at 6:23 PM, Shannon Lee <shannon at scatter.com> wrote:
> 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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