Terms of Reference
(i) The Board Members shall be appointed by the Executive Committee. Centenary Endowment Board Members shall serve for a term of three years on a rotating basis, such that one Board Member will rotate off each year. (Inaugural members may be appointed to two, three and four years to effectuate this requirement.) Centenary Endowment Board Members may be reappointed to serve up to four consecutive terms.
(ii) Centenary Endowment Board Members may be removed by the Executive Committee only for actions or activities inconsistent with IUPAC’s charitable status and values or that are inconsistent with the Fund Mission.
(iii) Any vacancies created by the resignation, removal or death of a Centenary Endowment Board Member shall be filled by appointment by the Executive Committee, which member shall complete the term of the vacating member.
(iv) The Centenary Endowment Board shall meet at least quarterly.
The members of the Centenary Endowment Board shall annually elect a Chair from among the external Board Members, by majority vote. The Chair may be elected to consecutive terms, without limit, as long as they are a member of the Board. The Chair’s responsibilities shall include, but are not limited to, convening and presiding at meetings, serving as the Centenary Endowment Board’s liaison to the Executive Committee, and ensuring donor questions/inquiries regarding the status of a gift or bequest are addressed by the IUPAC Secretariat.
Terms of Office
(i) There shall be a Centenary Endowment Fund that will provide a mechanism through which Fund Donors can support and engage in IUPAC’s international work into its second century of existence.
(ii) There shall be a standing Centenary Endowment Board, comprised of three externally recruited members, and a member from the IUPAC Finance Committee. In addition, the IUPAC Treasurer or alternate IUPAC Officer and Executive Director (to act as Secretary) shall be ex officio members but without voting power.
(iii) The Centenary Endowment Board will report to the IUPAC Executive Committee with reference to the discharge of the Board’s duties and any recommendations it may have.
(iv) The Centenary Endowment Board shall be responsible for and shall administer IUPAC’s funds solicitation efforts and the development of the Fund and recommending disbursement in accordance with the Fund Mission and, where relevant, specific designations by Donors.
(v) It shall recommend to the Executive Committee policies for accepting, receiving, and investing permanent funds and endowments from Fund Donors that are consistent with IUPACs charitable status and international standing.
(vi) The Centenary Endowment Board shall also review the Fund Policies as needed and recommend modifications and/or amendments to the Executive Committee for their approval, after consultation with the Finance Committee.
(vii) The Centenary Endowment Board may recommend to the Executive Committee specific goals and/or projects for which funding is available.
(viii) The Centenary Endowment Board will consider the current investment policies of the Finance Committee to ensure these have an acceptable risk profile based on goals for the Fund and may require the Finance Committee to manage the invested Fund investments accordingly. The Fund will bear the additional investment costs that may arise from changes in the investment risk profile.