BOARD STRUCTURE, COMMITTEES AND RESPONSIBILITIES
BOARD PURPOSE:
- Establish the mission and policies that enable the Cambridge Community Foundation (CCF) to improve the quality of life for people in and around the city of Cambridge, Massachusetts; and
- Manage all CCF property for the purpose of building and maintaining its philanthropic endowment and operations to meet the mission.
BOARD TERMS & MANAGEMENT:
Term of service: no more than two, consecutive five-year terms
Quorum: One half of the overseers shall constitute a quorum with voting decision by majority of the quorum present
Organization: The board elects a president and treasurer serving terms determined by the board and organizes a committee structure to meet its fiduciary and operational oversight responsibilities
BOARD POWERS & RESPONSIBILITIES:
General Powers:
- Oversight of the Foundation’s assets
- By-laws, enacted by the chair for its own governance and amended or repealed from time to time as deemed necessary.
- Administration, activities, policies and development of the Cambridge Community Foundation
- Power to invest funds given directly to the Cambridge Community Foundation for administration
- All the necessary powers to fulfill these responsibilities
Power over Income and Principal:
- To select and determine charitable objects and purposes
- Select annually or more often recipients and the amount to be distributed
Additional Powers:
- To modify any restriction or condition on distribution of funds
- To replace any trustee, custodian or agent for breach of fiduciary duty
- To replace any trustee, custodian or agent for failure to produce a reasonable ( as determined by the board) return of net income and appreciation with due regard to the safety of principal over a reasonable period of time
