EXECUTIVE COMMITTEE
The Executive Committee shall: (1) review, make modifications to and recommend approval of the proposed Foundation annual fiscal year budget and any proposed amendments to it; (2) serve as the Audit Committee for the Foundation; (3) review and approve the annual audit and Management letter; and (4) assist the committees of the Foundation in accomplishing their responsibilities.
FINANCE COMMITTEE
The Finance Committee shall: (1) have and exercise the power to make decisions regarding the appropriate investment and reinvestment of the Foundation's assets and funds; (2) maintain an investment policy and properly maintain oversight on investment management for the Foundation; (3) provide advice and direction in management and/or sale of properties which may be gifted to the Foundation; (4) approve all planned gift arrangements including the authority to enter into agreements and arrangements; (5) make recommendations regarding policies for the disbursement of funds; (6) review, make modifications to and recommend approval of the proposed Foundation annual fiscal year budget and any proposed amendments to it; and (7) select, approve and authorize a qualified Certified Public Accounting firm to complete the annual audit of the Foundation.
PROGRAMS COMMITTEE
The Programs Committee shall: (1) have and exercise the power to make decisions to develop and implement guidelines, policies and procedures for awarding of all scholarships and grants given by the Foundation; (2) have the authority to award scholarships and grants based on the approved fiscal year budget; (3) review, make modifications to and recommend approval of the proposed Foundation annual fiscal year budget for scholarships and grants and any proposed amendments to it; and (4) approve the annual expenditure and award of the Jack Fellowship following the guidelines set forth by the donors.
DEVELOPMENT COMMITTEE
The Development Committee shall: (1) be responsible for the recruitment and orientation of new members and the nomination of officers for the Foundation; and (2) be responsible for development of fund-raising goals, as well as defining short-term and long-term funding needs of the Foundation.