Page 47 - 2022_NEWS_79-2_MarApr
P. 47
Mar/Apr 2022 | Vol. 79 No. 2 2022 Proposed Amendments
60 reserve which is not less than when received. Proceeds from
(cont.) one year’s operating expenses. the sale of international/state
(1) State organizations organization permanent fund
without a headquarters assets shall be added to the
building are not required principal of the international/
to maintain a permanent state organization permanent
fund; but are required to fund. Investment income from
maintain an available fund the state organization perma-
reserve. These state orga- nent fund may be allocated to
nizations without a head- the state organization available
quarters building shall set fund by vote of the state orga-
aside up to twenty percent nization executive board.
(20%) of their state organi- f. The principal of the So-
zation dues until the total of ciety and state organization
the available fund reserve permanent funds shall be used
equals one year’s operating for the following:
expenses at which time the (1) purchasing induction
state organization executive paraphernalia;
board may reduce or dis- (2) purchasing articles and
continue further allocations. equipment of a permanent
(2) The available fund nature;
reserve may be used at the (3) licenses for computer
discretion of the state orga- software;
nization executive board. (4) renting office space;
e. Investment income from (5) constructing a head-
the international Permanent quarters building; and
Fund shall be allocated to the (6) furnishing a headquar-
international Available Fund ters building.
when received. Proceeds from g. International expendi-
the sale of international/state tures shall be reviewed by
organization permanent fund the Finance Committee and
assets shall be added to the authorized by the Executive
principal of the international/ Board. Expenditures from the
state organization permanent state organization fund shall
fund. Investment income from be authorized by the state
the state organization perma- organization executive board.
nent fund may be allocated to 3. The 501(c)(3) funds that sup-
the state organization available port the work of the Society are
fund by vote of the state orga- entrusted to the foundation.
nization executive board.
f. The principal of the
Society and state organiza-
tion permanent funds shall
be used for the following:
(1) purchasing induction
paraphernalia;
(2) purchasing articles and
equipment of a permanent
nature;
(3) licenses for computer
software;
(4) renting office space;
47
