Page 475 - 2025 Chapter Directory

work on committees. Volunteers for committees shall be solicited
annually, except for the Audit Committee.

Section 2. The standing committees have the following
responsibilities:

A. The Audit Committee shall facilitate the external audit of
the financial accounts of the foundation on an annual basis.
The Audit Committee shall conduct internal reviews of all
accounts of the foundation on an annual basis, or when there
is a change in financial officers. The end of year financial
records of the foundation shall be made available for audit by
March 1 of the following year. The mid-year financial records of
the foundation will be made available for review by August 1 of
the same year. If the financial records are not made available
to the Audit Committee within 30 days of the dates above, the
Audit Committee shall notify the Board of Directors and request
assistance.

Board of Directors may request an internal review at any time
deemed necessary.

B. The Bylaws Committee shall propose needed changes in the
bylaws, consider changes recommended by foundation
members, and formulate the same for circulation and action. The
parliamentarian shall serve as its chairman.
C. The Fundraising Committee shall raise funds through
programs, solicitations, and other means, so as to fund the
foundation’s scholarships, gifts, and expenses while, at the same
time, establishing a permanent endowment.
D. The Investments Committee shall maximize the return of
such of the foundation’s assets as are available for investment
while ensuring safety of principal. The Investments Committee
shall work with the Funds Allocation Committee to determine
what amounts available for investment may be committed short-
term, intermediate-term, and long-term.
E. The Funds Allocation/Financial Planning Committee shall
prepare a proposed itemized budget for the foundation each
year, which budget shall cover a one-year period or such shorter
period, as the board may direct. The foundation budget will be

Ivy Educational & Charitable Foundation Page 33