ALA Seeks Candidates for Endowment Fund Trustee Openings (2)

April 13, 2017

Applications are now being accepted for two expiring/renewable terms on the ALA Endowment Trustees. 
 
The candidates will be selected by the ALA Executive Board at their 2017 ALA Annual Conference Meeting, which will be held June 22nd – 27th in Chicago, IL.  Newly selected Trustees will begin serving a three-year term[1] immediately at the conclusion of the 2017 ALA Annual Conference. The term will expire at the conclusion of the 2020 ALA Annual Conference in Chicago, IL. 

The deadline for receiving applications is June 1, 2017.

The ALA Endowment Trustees have the authority to hold, invest and disburse endowment and other long-term investment funds as directed by the ALA Executive Board. Candidates must be or become members of the ALA.  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 ALA Executive Board and Council. Additionally, candidates must be able to participate in any scheduled conference calls, attend two -four meetings per year in Chicago and other selected cities – New York, Washington, DC etc. and if possible at the ALA conferences[2].

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

Investment Skills

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.

Association Involvement

It is desired that the Trustees evidence a basic knowledge of ALA’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.

Judgment and Analytical Skills

Essential to the effective operation of the Endowment, is the Trustee’s ability to exercise judgement 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 judgement 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.

Application and References

All applicants will be required to submit an application form and three (3) references.

Contact

For this and other information on the qualifications and responsibilities of an ALA Endowment Trustee, you may also contact Keith D. Brown, Senior Financial Analyst, Finance Department at 1-800-545-2433, ext. 4255, fax: 312-280-5272 or kbrown@ala.org



[1] Trustees may serve two consecutive three year terms, but must reapply after the first term.

[2] There will be no expense reimbursement to attend ALA Midwinter or Annual Conference meetings.