Foundation report 2009/2010
The ARPAS Foundation is now official. An amendment to the ARPAS bylaws was just passed by the Governing Council and ratified by the ARPAS membership setting up the Foundation and establishing the ground rules for its operation. Article XV is included at the bottom of this report.
We now have $40,000 in the Foundation account and an additional $20,000 is expected to be added in early 2011. This money was directed to the ARPAS Foundation from funds not utilized by the Executive Committee for partial salary and expenses of the Executive VP.
Earnings from the assets of the Foundation will become a funding source for worthy educational activities for ARPAS members. It is now time to include ARPAS members in growing the assets of the Foundation through tax deductible gifts and fund raising and to decide how to best utilize these funds. Your ARPAS Foundation Board (currently the Executive Committee and headed by Past-past President Darrell Johnson) has been meeting to discuss activities for fund raising and to refine ideas for using the money earned by the assets of the Foundation. The committee will be eager to review member comments from the strategic plan survey and incorporate these ideas into reality. We also need members to volunteer to serve on the Foundation Committee.
Article XV. ARPAS Foundation
The American Registry of Professional Animal Scientists (ARPAS) has established a Foundation hereafter to be known as the ARPAS Foundation.
Section 1. Purpose.
The purpose for the ARPAS foundation is to provide a funding source for educational efforts and developmental activities of members independent of the ARPAS annual budget for funding. This Foundation will have tax exempt status under the charter of ARPAS and will be able to accept gifts and grants that are tax deductible from its members and supporters.
Section 2. Reporting Relationship.
The Foundation will still be a function of ARPAS, report to ARPAS and utilize the non-profit status of ARPAS for tax purposes. This Foundation is organized separately from the ARPAS financial structure and is not funded as a part of the ARPAS annual budget or any current ARPAS reserve funds. A Governing Board will be established to conduct the business of the Foundation.
Section 3. Use of Funds.
Only the earnings from funds directed to the ARPAS Foundation will be used to further the educational efforts of the ARPAS Foundation.
Section 4. Establishment of the Governing Board.
The initial governing body for the Foundation will be the ARPAS Executive Committee until such time that the president of ARPAS shall appoint a board of directors for the foundation.
The Board will consist of five ARPAS members and the current Executive Vice-President of ARPAS as an ex-officio member.
Appointments shall be for a three- year term except for the initial appointments which shall consist of two members being appointed for a three-year term, two members appointed for a two-year term and one member appointed for a one-year term.
The Executive Vice-President shall be the moderator for the Governing Board but have no voting privileges.
Section 5. Duties of the Governing Board.
The Governing Board will have the responsibility for:
• Developing and coordinating the fund raising efforts of the Foundation.
• Recommending and overseeing investment of the funds of the Foundation
• Providing guidelines for the expenditure of earning from the Foundation consistent with the stated purpose for the Foundation and review proposals from members for such activities.
Section 6. Termination of the ARPAS Foundation.
In the event the ARPAS Foundation shall be terminated, any remaining funds will revert to ARPAS.