Council Member Name: Matt Nicoletta
Council Position—Proposal Number: VPF-02
Meeting Date for Proposal: June 18, 2011
Objective this proposal falls under: 9.0 RM
What costs are associated with this proposal? (if none state "none"): None
Additional Pertinent Information: (if none state "none"):
What is the motion to be made on this?
"I move that we create the Investment Advisory Committee as outlined in the below proposal:"
Proposal to Create an Investment Advisory Committee
Phi Sigma Pi maintains several investments to support our objectives in areas such as our National Philanthropy, Teach For America, Leadership in Action, Brother development (Lamp of Knowledge), Scholarship Opportunities (Todd and Wood Scholarships), our 100th Anniversary celebration, and capital improvements. In order to better manage the fund objectives and risk profiles, I am proposing the creation of an Investment Advisory Committee, comprised of members of National Council and representatives of our Collegiate and Alumni Brothers.
The committee will be responsible for setting the goals of each investment fund held by the National Fraternity and establishing and maintaining a risk profile for each fund. Overall day-to-day management of the funds shall remain under the purview of the Executive Director.
The Investment Advisory Committee would be composed of the following:
- Vice President of Finance (Chair)
Other members to be appointed by the National President:
- Two other members of National Council
- One Active Collegiate Member
- One Active Alumni Member
Each member shall have one vote on all matters pertaining to the committee.
Vacancies shall be filled by appointment by the National President and shall be for the remainder of the term. The overall composition of the Investment Advisory Committee must be maintained.
A member of the Investment Advisory Committee may be removed by the National President on the advice of the Vice President of Finance in cases where a member of the committee has failed to attend two (2) consecutive meetings, or where a clear conflict of interest has arisen.
The term of appointment shall be for one fiscal (1) year, beginning on July 1 and ending on June 30.
The committee shall meet quarterly by telephone, e-mail, or in-person. The purpose of each meeting shall be to evaluate the current state of each investment fund and to make any adjustments in the long-term goals of the funds and/or risk profile for each fund.