First Parish Bedford UU

In order to facilitate management of the church’s endowment funds, there is an Investment Management Committee of the Parish reporting to the Parish Committee, acting in spirit much like  "trustees" for the endowment, but subject to the Parish Committee and the final authority of the congregation.  It is a standing committee, with members appointed by the Parish Committee.

Chair: (currently empty)

The Committee will consist of four (4) regular members, to include a Chairperson and three (3)  members-at-large. The Treasurer will be the fifth member (ex officio) participating in meetings at least quarterly. Terms of Committee members will be for two years, except initially, two members will be appointed for one year to overlap terms going forward. The Chairperson will be elected from the members.

The committee will recommend to the Parish Committee and the church a broad written Investment Policy defining

• the general investment philosophy;
• the nature of investment decisions to be determined by the Committee on a day to day basis;
• the nature of major decisions which will be brought to the Parish Committee and/or congregation.

The committee will have the authority to make investment decisions for ongoing management of in-vested funds within the established policies approved by the Parish Committee (as described above) and subject to restrictions by donors. It will maintain documentation on the source and restrictions of restricted funds. 

The committee will advise the Finance Committee and the Parish Committee as to the achievability of funding part of the church operations from the endowment from the perspective of maintaining endowment health.
The committee will meet jointly with the Finance Committee at least once a year in preparation for the annual budget and to get input from the Finance Committee concerning investment policy.
The committee will hold regularly scheduled meetings, at least once a month, at an announced time and place and shall maintain a written record of their transactions.  All meetings shall be open to parishioners.  All decisions of the Investment Management Committee shall be by majority vote of those present with the provision that a quorum of three (3) members be present at the taking of any such vote.