PHILANTHROPY CHARTER

                                                                                                    Appendix A

                                               Antique & Classic Boat Society Northern California/Lake Tahoe Chapter 

 

Founded January, 2003

Adopted July 10, 2005

Revised April 2, 2006

Revised January 12, 2008

Revised January 10, 2015

Revised August 9, 2015, approved by BoD January 9, 2016

 

PURPOSE:  To support the philanthropic endeavor of the ACBS NC/LT Chapter Mission Statement.

 

MISSION: To help fund not-for-profit and 501c3 organizations that are in support of our purpose; sharing knowledge and education of our core endeavor, that of preserving, restoring, and retaining the heritage of antique and classic boats.

FUNDS:

  1. Annually, or at more frequent intervals, the ACBS NC/LT Board of Directors may designate a portion of the Chapter’s unrestricted net assets to function as Endowment.  The ACBS NC/LT Board of Directors retains the right to restore previously designated funds to the status of unrestricted net assets at any time they deem it to be in the best interest of the Chapter.

  2. Future funds will be generated from excess revenue (unrestricted net assets) and tax deductible contributions as well as fund raising events.

  3. All fund raising in chapter and/or public must be ACBS NC/LT Board of Directors approved.

PHILANTHROPY COMMITTEE:

  1. The Philanthropy Committee shall consist of six members: the Director of Philanthropy, a Past President of the ACBS NC/LT Board of Directors in good standing, the current Treasurer, the current First Vice President of the ACBS NC/LT Board of Directors, a current member of the ACBS NC/LT Board of Directors, and a member at large in good standing of at least five (5) years.

  2. The purpose of the Philanthropy Committee shall be to accept grant requests, oversee the disbursement of funds, approving all fund-raising event proceeds and to manage, with direction from the Treasurer, the Endowment.

  3. Committee members shall be nominated by the Philanthropy Committee for approval by the ACBS NC/LT Board of Directors..  Committee members may serve no more than five (5) one (1) year consecutive terms with the exception of the Director of Philanthropy whose term is determined by the ACBS NC/LT Board of Directors, and the current Treasurer who will remain on the Committee throughout his/her term.  Each year, one member shall be rotated off the Philanthropy Committee.  It is commended that the Treasurer and the Director of Philanthropy not be replaced in the same year.

 

FUND DISBURSEMENT

 

  1. The disbursement of funds shall be from the income of the corpus of the Endowment and not affecting the corpus itself.

  2. The Philanthropy Committee shall, on a yearly basis, make requests to organizations to submit grants and requests for funds from the Endowment.

  3. The Philanthropy Committee may, on a yearly basis, grant funds to worthy organizations that will benefit causes that meet the Philanthropy Committee’s criteria with ACBS NC/LT Board of Directors approval.

 

FUND RAISING:

 

  1. The ACBS NC/LT Chapter may have a fund raising event to fund a specific cause over and above that of the earnings distribution from the Endowment, with ACBS NC/LT Chapter Board of Directors approval. 

  2. The ACBS NC/LT Chapter at its Annual Membership Meeting may have a silent and/or live auction each year with the earnings divided 50% to the corpus of the Endowment and 50% to a designated non-profit which the Philanthropy Committee with ACBS NC/LT Chapter Board of Directors approval has chosen and announced before the Annual Meeting.

  3. No other fund raising will be done by the ACBS NC/LT, its Committees, or Officers unless authorized to do so by the ACBS NC/LT Board of Directors.

  4. Donations are the responsibility of the Philanthropy Committee and shall be deposited into the Endowment as Restricted funds.

 

FUND INVESTMENT

 

  1. The Investment Committee will consist of the Philanthropy Committee.

  2. A semi-annual Philanthropy Committee report will be made to the ACBS NC/LT Board of Directors by the Director of Philanthropy.  An Annual Report will be made to the entire membership as to the status of the Endowment to include receivables, disbursements, and investments.  It is recommended that the annual Philanthropy report be published in the Chapter newsletter, Western Wood, and/or posted to the ACBS NC/LT website for membership review.

  3. The Treasurer will invest and be responsible for the Endowment with Philanthropy Committee approval.