91´«Ã½

CHICAGO - Applications are now being accepted for two expiring terms on the 91´«Ã½ (91´«Ã½) Endowment Trustees committee.

The have the authority to hold, invest and disburse endowment and other long-term investment funds as directed by the 91´«Ã½ Executive Board. Candidates must be or become members of the 91´«Ã½. They must have a working knowledge of investment opportunities available to the endowment and other long-term investment funds, and of benchmarks used to judge fund performance. The candidates must also have experience in the management or oversight of investment funds in a business setting and must be able to contribute to the preparation of semi-annual reports on the performance of the fund to the 91´«Ã½ Executive Board and Council. Additionally, candidates must be able to participate in any scheduled conference calls, attend two to four meetings per year in Chicago and other selected cities.

The 91´«Ã½ Executive Board will select candidates during the 2019 91´«Ã½ Annual Conference & Exhibition, held June 20 - 25, in Washington, D.C. Newly selected Trustees will begin serving immediately upon notification of their selection. The three-year term will expire at the conclusion of the 2022 91´«Ã½ Annual Conference in Washington, D.C.

The deadline for receiving applications is June 1, 2019.

In reviewing the requirements and skills necessary to manage the 91´«Ã½ Endowment Fund, the 91´«Ã½ Executive Board and the Endowment Trustees have established the following general guidelines for becoming a Trustee:

• Trustees must have a working knowledge of the financial markets. This working knowledge should include the fundamentals of investment practice, as well as, familiarity with market indices. Experience in investing as a trustee or custodian is beneficial. Awareness of economic principles is desirable. Candidates will be expected to maintain an ongoing knowledge of current economic conditions and issues.
  
  
• It is desired that the Trustees evidence a basic knowledge of 91´«Ã½’s mission and goals and an awareness of the services and activities of the Association. Knowledge of the awards and scholarships program is also beneficial, as is work in other areas of the Association.
  
  
• Essential to the effective operation of the Endowment, is the Trustee’s ability to exercise judgment and to make decisions that reflect prudence, insight, and care. Teamwork among the Trustees is essential for this shared charge to be effectively dispatched. The ability to study a situation and to develop well-reasoned strategies is a critical requirement. While the trustees exercise independent judgment and discretion with regard to the Endowment investments, they must also be effective communicators and able to take necessary and appropriate direction from the Executive Board.
  
  
• All will be required to submit an application form and three (3) references.

Additional information regarding 91´«Ã½ Endowment Trustee qualifications and responsibilities is available. Interested parties may contact Keith D. Brown, Senior Financial Analyst, 91´«Ã½ Finance Department at 1-800-545-2433, ext. 4255, or kbrown@ala.org .