To facilitate the effective and efficient operation of the James Madison University Foundation Board, the board depends upon a committee structure to manage its business and activities. Six standing committees have been established and ad hoc committees may be created as needed.

The Executive Committee

The executive committee consists of the chair and vice-chair of the board of trustees, the university’s chief financial officer, the chairs of each standing committee and the foundation president and chief financial officer as non-voting members. The chair of the board of trustees serves as the chair of the executive committee.The committee’s purpose is to provide leadership that ensures the foundation functions efficiently and effectively. Its broad authority shall be used only as necessary and appropriate on matters that cannot or should not be delayed until the board’s next regularly scheduled meeting or until a special meeting of the board could be called.

The Governance Committee

The governance committee consists of a minimum of five voting trustees including the chair, and vice-chair of the board, the university’s vice president for advancement and the foundation president, as a non-voting member. The committee’s purpose is to determine the most effective composition and operation of the board. It attracts, orients, nominates, educates, organizes, motivates and assesses the performance of the board and its trustees.

The Administration and Finance Committee

The administration and finance committee consists of a minimum of five voting trustees, and the foundation’s chief financial officer as a non-voting member.The committee’s purpose is to oversee all aspects of the foundation’s administrative and financial operations to ensure the organization’s financial health, including our ability to fulfill funding obligations to the university.

The Development Committee

The development committee consists of a minimum of five trustees, including the university’s vice president for advancement. The committee’s purpose is to provide enthusiastic leadership for the university’s private fund-raising efforts through personal giving and by promoting the philanthropic support of others.

The Investment Committee

The investment committee consists of a minimum of five trustees plus the foundation’s president and the chief financial officer, as non-voting members. A non-voting advisory council may be nominated by the investment committee and, with the approval of the full board, be appointed by the board chair. The committee’s purpose is to manage the foundation’s assets, in accordance with investment policy, to preserve the purchasing power of the endowment and provide a growing income stream to the university.

The Audit Committee

The audit committee consists of a minimum of five voting trustees. Members must possess financial knowledge and business experience. The committee’s purpose is to provide oversight to minimize risks and establish a measure of confidence that the foundation’s financial matters are appropriately and prudently addressed and in compliance with relevant laws, standards and practices.

The Real Estate Committee

The real estate committee consists of a minimum of five voting trustees including the university’s chief financial officer and the foundation president, as a non-voting member. The committee’s purpose is to advise the board regarding the acquisition by gift, bequest, purchase, lease, or otherwise of real property to be held, administered or used by the JMU Foundation to the ultimate benefit of the university.

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