FINANCES AND INVESTMENTS
a. An Investment Fund may be established by the National Board of
Directors for the purpose of investing specifically designated funds of
b. The National Board of Directors shall set the amount of funds to be
invested, and they shall also ensure that sufficient reserves are kept;
the reserve amount shall not be less than the current year's budget
(other than direct-mail expenses).
a. The Investment Fund shall be administered and managed by a
Board of Trustees, consisting of six (6) individuals appointed by the
National President with the advice and consent of the National Board of
b. One such individual - the BVA Controller - shall be a permanent
member of the Investment Fund Board of Trustees. Not less than three
(3) of the trustees shall be Members or Associate Members of the Blinded
Veterans Association with at least one (1) of the three trustees being
on the National Board of Directors.
c. The terms of office for the trustees shall be three (3) years,
with two (2) trustees being appointed to three (3) year terms each year.
The National President shall designate one (1)
member as Chairperson of the Investment Fund Board of Trustees, and its
members shall elect such other officers as they may deem necessary and
shall adopt rules of procedure governing the investment of funds, such
rules of procedure to be subject to approval by the National Board of
The Investment Fund Board of Trustees shall have the
power to buy and sell securities. In so doing, the Investment Fund
Board of Trustees shall have the power to engage a Corporate Investment
Manager and to give such Manager discretionary authority, within the
guidelines established by them and approved by the National Board of
Directors, to buy and sell securities for the enhancement of the
Association's Investment Account.
The National Board of Directors is authorized to establish endowment funds to benefit the Scholarship Fund, the Field Service
Program, Eye Medical Research and such other charitable programs and
activities as may be consistent with the purposes and mission of this
Endowment funds may be administered as subgroups of the Investment Fund of this organization or may be administered
separately at the discretion of the National Board of Directors.