Bylaws
POL 01.10.1
Authority: Board of Trustees
History:
First Issued: April 11, 1987. Last Revised: April 16, 2004. Additional History Information.
Related Policies:
UNC Code Section 704 - Endowment Fund; Appendix VII: Endowments and Trust Funds
Contact Info: University Treasurer (919-515-2143)
1. ARTICLE I - ORGANIZATION
1. 1 Membership
1. 1. 1 The Board of Trustees of the Endowment Fund of NCSU shall consist
of no fewer than six members and no more than nine members:
a. Six members shall be elected by the Board of Trustees
of NCSU to staggered three-year terms, with two members being elected
each year;
b. In addition, the Chancellor, the Chair of the Board of Trustees
of NCSU, and the Chair of the Development Committee shall serve as voting
ex officio members of the Endowment Fund. The Vice Chancellor for University
Advancement shall submit annually to the Chancellor a listing of potential
appointees to the Endowment Board. After consultation with the Chancellor,
the Chair of the Board of Trustees shall make recommendations to the
Board of Trustees for filling any vacancy on the Board of Trustees of
Endowment Fund.
1. 1. 2 In the event of a vacancy due to the death, resignation or inability
to serve by a member of the Board of Trustees of the Endowment Fund, the
Board of Trustees of North Carolina State University will elect a person
to fill the unexpired term.
1. 1. 3 In considering nominations to the Endowment Board, the Chair of
the Board of Trustees will take into consideration individuals who (a)
have experience / expertise in investments, (b) bring special skills or
talents to the Endowment Board, or (c) have established an endowment at
NC State, either within the endowment fund or elsewhere.
1. 1. 4 Whereas it is desirable to have present or former members of the
Board of Trustees of North Carolina State University as members of the Endowment
Fund, this is not a prerequisite for candidacy.
1. 1. 5 Members of the Board of Trustees of the Endowment Fund may not
be elected to more than two full three-year terms. New trustees elected
to succeed trustees whose full terms are completed will be elected at the
last regular meeting of the academic year of the Board of Trustees of North
Carolina State University.
2. ARTICLE II - MEETINGS
2. 1 Regular Meetings
2. 1. 1 The Board of Trustees of the Endowment Fund of North Carolina
State University shall hold a minimum of two regular meetings in the course
of each academic year. Such meetings shall be held in September and February;
special meetings may be called by the Chair or upon request of three other
members.
2. 1. 2 A report shall be made by the Board of Trustees of the Endowment
Fund to the Board of Trustees of the University at each regular meeting
of the Board of Trustees of the University.
3. ARTICLE III - OFFICERS
3. 1 Officers
3. 1. 1 There shall be six officers:
a. Chair - The Chair of the Board of Trustees at NCSU shall be ex
officio Chair of the Board of Trustees of the Endowment Fund of North
Carolina State University;
b. Vice Chair - The Vice Chair shall be elected by the Board of Trustees
of the Endowment Fund. The term of office shall be one year, and the election
shall be held at the first meeting after July 2 of each year;
c. Secretary - The Assistant/Associate Vice Chancellor for Advancement
Services shall serve ex officio as Secretary of the Endowment Fund;
d. Assistant Secretary - The Secretary of the University shall serve
ex officio as the Assistant Secretary of the Endowment Fund;
e. Treasurer - The Vice Chancellor for Finance and Business shall serve
ex officio as Treasurer of the Endowment Fund;
f. Assistant Treasurer - The North Carolina State University Treasurer
shall serve ex officio as the Assistant Treasurer of the Endowment
Fund.
