All activities will be supported by voluntary donations from Illinois ASBO current or past members, special fund-raising events and funds appropriated by the Board of Directors. All donations are tax deductible.
All donations and funds raised will be administered according to the following guidelines:
- No less than 80% for scholarships, grants or charitable contributions
- No more than 10% for certificates, plaques and other recognition tokens for recipients
- No more than 10% for marketing and administering the recognition programs
The Foundation is governed by a Board of Governance consisting of the following members:
- Executive Director/CEO (Administrator of the Foundation) – 1
- Deputy Executive Director/COO – 1
- Immediate Past President for a 2-year term – 2
- Illinois ASBO Directors for 3-year staggered terms each appointed by the Illinois ASBO President. (This will be reserved for former directors who are not going forward as Treasurer/President Elect/President/Past President. Should there be a vacancy, the Illinois ASBO President will appoint a current or past Director or Officer) – 6
- Service Associate Advisory Committee Members for 3-year staggered terms each appointed by the Illinois ASBO President. (This will be reserved for the third year SAAC member not going forward as Vice Chair. Should there be a vacancy, the Illinois ASBO President will appoint a current or past SAAC member) – 3
- Service Associate Members for a 3-year term staggered term, each appointed by the Illinois ASBO President – 3
MEET THE CURRENT GOVERNANCE BOARD
The full Board of Governance shall meet at least once annually and more often as required by Foundation activities. The Board of Governance shall oversee all approved Foundation activities, fundraising efforts, donor categories and distribution of awards. Minutes of all full Board of Governance meetings shall be submitted to the Board of Directors.
Changes to Foundation activities, fundraising, donor categories and award categories may be recommended by the Foundation Board of Governance but must be approved by the Board of Directors.
Sub-Committees may be established to meet as often as necessary to support various Foundation activities. Members of sub-committees shall be selected from the Board of Governance based on interest and potential impact.