[Noisebridge-board] Investment committee

Christie Dudley longobord at gmail.com
Thu Feb 24 02:44:40 UTC 2011

At one point I was talking about putting together a committee to rewrite the
bylaws to more accurately reflect the way we function. Since our charitable
status has already been established, a non-standard set of bylaws would not
be so much of a problem. All we would need to do is re-file them with the
state. It's something that remains on my mind as I'm actively pursuing a
career change into law.

However, the discussion that followed pretty much resulted in "there's no
reason to bother going through the effort and expense to change our bylaws."
Most people didn't seem to think that the distance between the boilerplate
template that we currently use, but has never been intended to reflect how
we actually operate and how we actually operate to be a problem.
Occasionally it does crop up.

To chime in on the original issue... I could see an investment committee to
be a useful thing if we had an endowment or significant resources to manage,
but we don't. Maybe someday...

"The thing that is really hard, and really amazing, is giving up on being
perfect and beginning the work of becoming yourself."
--Anna Quindlen

On Wed, Feb 23, 2011 at 6:29 PM, Albert Sweigart <asweigart at gmail.com>wrote:

> I'm not sure what you mean. Except for our consensus process, right?
> We couldn't simply ignore someone's choice to block consensus, and
> then pass the item or go forward with the proposal anyway, could we?
> We have at least that rule. Or did you mean something besides "we do
> not have mandatory rules we are obliged to follow"?
> -Al
> On Wed, Feb 23, 2011 at 6:23 PM, Shannon Lee <shannon at scatter.com> wrote:
> > We are not our rules.
> >
> > --S
> >
> > --
> >
> > Shannon Lee
> > (503) 539-3700
> >
> > On Feb 23, 2011, at 18:14, "Dr. Jesus" <j at hug.gs> wrote:
> >
> >> On Wed, Feb 23, 2011 at 6:01 PM, Kelly <hurtstotouchfire at gmail.com>
> wrote:
> >>> You mean this?
> >>>
> >>> e. Investment Committee
> >>> This corporation shall have an investment committee comprised of not
> >>> less than three directors. The committee shall act with the care,
> >>> skill, prudence, and diligence under the circumstances then prevailing
> >>> that a prudent person acting in a like capacity and familiar with
> >>> these matters would use in the conduct of an enterprise of like
> >>> character and with like aims to accomplish the purposes of the
> >>> institution. Individual investments shall be considered as part of an
> >>> overall investment strategy. The committee shall consider present and
> >>> future financial requirements, expected total return, general economic
> >>> conditions, the appropriate level of risk, appropriate levels of
> >>> income, growth and long-term net appreciation, and the probable safety
> >>> of the funds. The committee may retain professional money managers,
> >>> and shall develop an investment policy that shall be reconsidered at
> >>> feast annually, in light of the changing needs of the corporation,
> >>> economic conditions, and any other factors that may affect the
> >>> corporation's tolerance of risk and need for income. The committee may
> >>> recommend the retention of property contributed by a donor (whether or
> >>> not it produces income), and a donor's request should be a factor in
> >>> making the determination of whether to sell a particular asset
> >>> contributed by a donor.
> >>>
> >>> It's written in business-ese and doesn't have any clear parallels to
> >>> existing structures at Noisebridge.
> >>
> >> Do you think that there should not be such a committee and that the
> >> wording of this section should be changed to reflect that?
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