While the NC State Foundation Board of Directors focuses on the big picture when it comes to making major decisions, it’s the smaller committees that do most of the legwork. Each committee is composed of board members – and each has its own area of expertise. Per Foundation bylaws, the Chair, Vice Chair, and Past Chair serve on all committees.
The Executive Committee is responsible for carrying out the business of the board between meetings. It has the authority to accept all deferred gifts, including charitable gift annuity contracts and charitable remainder trusts where the Foundation is the guarantor or named trustee. It can also approve the investment strategy for these gifts.
The Nominations Committee creates and manages a pool of candidates to be considered as elected directors. It presents the names of candidates to the Board at annual meetings. It also presents an elected director nominated for chairperson of the Foundation as well as an elected director nominated for vice chairperson. Finally, the committee presents the names of any individuals it deems appropriate as a nominee for non-voting honorary director.
Audit and Finance Committee
This committee establishes and oversees the adherence to the investment objectives and policies of the Foundation. It recommends changes to the policies when appropriate, and can authorize the making (or altering) of investments. The committee selects a certified public accounting firm to serve as its independent auditor and to perform a full and complete annual audit of its finances and operations.
The Development Committee leads the Foundation’s fundraising efforts. It’s responsible for developing strategies, overseeing policies, establishing goals, creating plans, identifying supporters and assisting the staff in increasing the visibility of the Foundation. The committee also keeps fellow directors informed about the Foundation’s priorities and the resources it needs – as well as fundraising news and trends.
Awards & Grants Committee
This committee oversees the awards process for the Godwin Award and Menscer Cup as well as any additional awards deemed appropriate by the Board. Its duties include soliciting and evaluating nominations and selecting recipients – which it then presents to the Board for final approval. In addition to the Godwin Award and Menscer Cup, the committee also manages the grants process; it reviews applications and selects awards to be made for the subsequent fiscal year.