Greg Mace Memorial Fund
Adopted by the directors January 9, 1997
1. Introduction
The intent of this fund is to provide money for Colorado Search and Rescue
Board (hereinafter referred to as the "Corporation") members who wish to
become instructors or trainers and to subsidize other search and rescue
(SAR) related training opportunities. The goal is to provide quality SAR
training at a reduced cost. That goal can be met by subsidizing the training
costs of prospective instructors from within the Corporation's membership.
Once trained, these instructors will give back to the Corporation by providing
SAR training for Colorado SAR resources. Instructors who receive monies
from the Mace Fund shall not expect to profit from their teaching of these
classes.
2. Fund Operations
2.1. Board of Directors
The Board of Directors of the Corporation may choose to spend Mace Fund
monies on SAR related trainings. This, however can only occur if the majority
of the board of directors, who are present and voting, is in favor of such
action.
2.2. Members
Any current member of the Corporation may apply for money. All applications
must be received in writing by a director of the Corporation at least 90
days before the need date. The Board of Directors of the Corporation will
approve or deny by a majority of those present and voting each application.
The Board of Directors will decide the amount awarded to approved applications.
The Treasurer will fund approved applications or requests as soon as practical.
The board of directors of the Corporation may, in exigent circumstances,
wave any of the aforementioned requirements or the application guidelines.
The secretary of the Corporation will maintain a history of all applications
and recipients.
The application guidelines along with the names of the recipients shall
be provided yearly in the Corporation's newsletter.
2.2.1 Approval Guidelines
The Board of Directors of the Corporation will grant scholarships or training
money based on the following guidelines.
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The Corporation's projected needs and current priorities
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Current and anticipated instructor availability
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Number of candidates
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Availability of finances
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The past history of the team or region. The hope being that the instructors
will be spread throughout the state.
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The perceived stability of the applicant and their ability to teach what
they learn. (Are they going to be a long term contributor to the statewide
SAR effort.)
2.2.2 Application Guidelines
The applicant must be affiliated with a dues paying team or an individual
member of the Corporation. All requests for subsidy shall include: a) Title,
location, sponsoring or producing agency, date of class and candidate's
teaching status upon completion. b) The break-out of total expected costs
for attendance for each candidate. c) What anticipated costs the candidate
would like subsidized. d) When the monies are due and what savings can
be realized by early payment. e) What other subsidy has been requested
or received from other sources. f) Candidate's length of membership in
SAR agency(s). g) Short summary of candidate's teaching experience. h)
Two references from SAR leaders personally attesting to the candidates
proven teaching qualifications and performance. i) Statement of Commitment
from the candidate to help teach 3 courses in a reasonable number of years
or fulfill certifying agency minimums.
3. Investment Guidelines
The general investment strategy for the Fund is to provide a consistent
stream of income annually to fund SAR training, and to preserve principal
of the fund by establishing a maximum income draw which cannot be exceeded
without the fulfillment of certain conditions.
3.1 Investment Strategy
The Corporation shall seek to achieve the highest total investment return
consistent with present risks through an appropriate portfolio. It is expected
that the officers of the Corporation shall use their best judgment to reduce
any unusual or unnecessary risk.
4. Distributions
Net income (dividends and interest) and principal of the Fund shall be
distributed as follows: It shall be the policy of the Corporation to distribute
an appropriate amount of the interest consistent with the above investment
guidelines and investment strategy to the Board of Directors to be used
for training. The Corporation shall determine the actual amount of the
"draw" on the basis of the fund balance as of December 31. The Corporation
may consider liquidations from the Fund in excess of the above-mentioned
"appropriate amount" for non-training needs. This can only occur, however,
if each of the following conditions are met: 1. 75% of the current members
of the Board of Directors of the Corporation vote in favor of the liquidation,
and 2. The Board of Directors adopts a proposal to replenish the funds,
including time frames and revenue sources. All of the above-mentioned directors
must vote or abstain. Balloting may be performed by mail. Members may not
vote by proxy. If amount available for distribution exceeds the amount
requested, the excess shall be re-invested in the principal of the Fund.
© 1997 -
Colorado Search and Rescue Board
Webmaster:
Don Davis
