ALA seeks candidates for endowment fund trustee openings
For Immediate Release
Keith D. Brown
Senior Financial Analyst
ALA Finance Department
CHICAGO - Applications are now being accepted for two expiring terms on the American Library Association (ALA) Endowment Trustees committee.
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 to four meetings per year in Chicago and other selected cities.
The ALA Executive Board will select candidates during the 2019 ALA 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 ALA 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 ALA Endowment Fund, the ALA 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 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.
- 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 applicants will be required to submit an application form and three (3) references.
Additional information regarding ALA Endowment Trustee qualifications and responsibilities is available. Interested parties may contact Keith D. Brown, Senior Financial Analyst, ALA Finance Department at 1-800-545-2433, ext. 4255, or firstname.lastname@example.org .