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Description

The Audit Committee of the Board of Directors of the ������Ƶ Foundation is comprised of members who are “independent” with regard to both the foundation and the University and familiar with financial statements and financial operations.

Responsibilities

The Audit Committee is charged with oversight of financial reporting and disclosures. The specific responsibilities of the Audit Committee are as follows:

• Overseeing the financial reporting and disclosure process
• Monitoring the choice of accounting policies and principles
• Overseeing hiring performance and independence of the external auditors
• Monitoring the internal control process
• Overseeing the performance of the internal audit function

Current Projects

• Assessing the performance of the external independent auditing firm
• Monitoring the internal control process with regards to the recording and processing of pledges
• Commencing an internal audit function

Richard H. Walker, Jr. Esq., Chair
Joseph A. Fusco, Esq.
Daniel Nugent, Ex Officio
Rick Ricciardi ’75, ’76
Melvyn J. Tarnopol, Esq.
Dr. Brigid Callahan-Harrison '88 

University:
Jennifer Potter
Erika Cassetta, '13, M.A. '15

The Executive Committee of the Board of Directors shall consist of the following member, ex officio: The Chair of the Foundation; the President of the University; the chief development officer of the University; Vice Chairs of the Foundation; and the Treasurer and Secretary of the Foundation. In addition, the Board at its annual meeting shall elect other of its members to serve on the Executive Committee for a term of one (1) year. It shall be the responsibility of the Executive Committee to conduct the activities of the Foundation between the dates of the four meetings of the Board of Directors. The Executive Committee shall have full authority of the Board to perform such acts and to undertake such activities as shall be deemed by the Executive Committee to be necessary or prudent, provided however, that such acts and activities shall be duly and completely reported to the Board of Directors at each meeting of the Board, and such actions that require Board approval shall be confirmed by vote of the Board of Directors at the next meeting following the action. The Executive Committee shall engage in regular and continuing dialogue with the President of the University and the Board of Trustees of the University so that, insofar as possible, Foundation actions will be consistent with the policies and goals established by the Board of Trustees of the University. The Chair of the Foundation shall serve as the Chair of the Executive Committee.

Minutes shall be prepared by a member of Committee appointed by the Chair of all deliberations and actions taken at Executive Committee meetings and shall be distributed to the members of the Board of Directors at the next meeting of the Board following the meeting of the Executive Committee.

The Executive Committee is responsible for guiding the work of the Foundation through the committee process to support the Board of Trustees and the President in achieving their goals for the University. The Committee continues to focus its efforts on furthering the success of the Foundation, engaging the Board members.

Dr. Brigid C. Harrison ’88, Chair
Michael L. Albrecht ’99, First Vice Chair
Joseph A. Fusco, Esq., Second Vice Chair
Claire B. Kuhar, CPA ’81, Treasurer
Dr. Joe Bertolino, Ex Officio
Donna H. Buzby, CPA
Richard S. Dovey ’75
L. Gayle Gross
Lori S. Herndon ’92
Dr. Johanna R. Johnson
Daniel Nugent, Ex Officio
Rick Ricciardi ’75, ’76
Melvyn J. Tarnopol, Esq.
Richard H. Walker, Jr. Esq.

University:
Cindy Crager M.A. ’17
Erika Cassetta, '13, M.A. '15

Description

The Finance Committee is responsible for the Foundation’s funds, preparing and reviewing fiscal reports, monitoring fund transactions and earnings, preparing and reviewing fiscal and audit reports and making recommendations to the Board of Directors with respect to all matters involving fiscal and spending policies.  

Responsibilities

General:

• Provide direction to the entire board for fiscal responsibility and financial management.
• Advise the board with respect to making significant financial decisions.
• Oversee the general financial matters of the organization, i.e. the administration, collection, and disbursement of financial resources; the maintenance of organizational assets; the maintenance of an appropriate capital structure; any property acquisitions or dispositions; any matters related to the continued solvency of the organization.

Reporting:

• Review management’s annual budget and submit it to the full Board for approval.
• Review management’s financial statements and report on financial activity to the full board.

Compliance:

• Review compliance with the terms and conditions of any restrictions placed on donations or grants.
  Review the annual federal and state non‐profit tax returns submitted by management.
• Review whether the University is in compliance with the requirements for exemption under IRS Code Section 501(c)(3).

Should be a standing committee generally chaired by Treasurer. Minor matters can be approved or decided in committee; significant matters should be referred to the full Board.

Committee Members

Claire B. Kuhar, CPA’81, Chair
Richard S. Dovey ’75
Dr. Brigid C. Harrison ’88
Hak J. Kim ’96
Edward H. Marshall III ’92
Daniel Nugent, Ex Officio

University:
Jennifer Potter
Erika Cassetta, '13, M.A. '15

The Investment Committee shall be responsible for presenting an investment policy and strategy for Board approval and for regularly monitoring the Foundations investments. The Investment Committee shall have responsibility for making investment decisions consistent with the Board approved investment policy and guidelines. No manager of the funds of the Foundation or paid fiscal advisor to the Board shall serve on the Finance or Investment Committees. Minutes shall be prepared by a member of Committee appointed by the Chair of all deliberations and actions taken at Investment Committee meetings and shall be distributed immediately to the Executive Committee and to the members of the Board of Directors at the next meeting following the meeting of the Board of the Investment Committee.

The Investment Committee is responsible for adhering to the Investment Policy Statement while exploring the intellectual underpinnings and developing principles to both support and enhance it.

Michael L. Albrecht ’99, Chair
Louis T. Barberio III
Steven R. Cocchi
David A. DeLizza
L. Gayle Gross
Daniel Nugent, Ex Officio
Melvyn J. Tarnopol, Esq.
Richard H. Walker, Jr. Esq.
Dr. Brigid C. Harrison ’88

University:
Erika Cassetta, '13, M.A. '15

The Nominating and Governance Committee has responsibility to work with the Board and the President of the University to recruit people who are willing to contribute time, talent and money to support the mission of the Foundation. The Committee shall develop and recommend strategies, policies, and practices that orient, educate, organize, motivate, and assess the performance of directors. In addition, at least two (2) weeks prior to the annual meeting of the Board, the Committee will present nominations to the Board for membership on the Board and on the standing committees, their Chairs and for the following officer positions: Chair of the Foundation, Vice Chair of the Foundation, Secretary of the Foundation and Treasurer of the Foundation. It is an important function of the Nominating and Governance Committee to develop diversity in membership on the Board of Directors.

The Nominating and Governance Committee is responsible for recruiting individuals who are willing to contribute time, talent and funds to support the mission of the Foundation. The Committee shall develop and recommend strategies, policies, and practices that orient, educate, organize, motivate, and assess the performance of the Board.

Joseph A. Fusco Esq., Chair
Sage Del Valle '20, M.B.A. '21 
Dr. Brigid C. Harrison ’88
Daniel Nugent, Ex Officio

University:
Erika Cassetta, '13, M.A. '15

The Development Committee is responsible for assisting in the identification, cultivation, and when appropriate the solicitation process of potential principal gift donors.

Throughout the year committee members will assist the President and Executive Director by identifying and introducing them to individuals with the ability to make a principal gift or individuals who are influential to others with principal gift capacity.

Dr. Brigid C. Harrison ’88, Chair
Karen Alton
Aquasia Davis
Barbara Gomes
Gayle Gross
Thomas J. Kuhar
Rita Mack
Daniel Nugent, Ex Officio

University:
Erika Cassetta, '13, M.A. '15

The Special Events Committee is responsible for providing a Board presence on Gala and Golf committees. The Committee is also responsible for identifying hosts, planning and the implementation of the Community Gatherings.

This Special Events Committee will meet once a year. The expectation is that each committee member will serve on either of ������Ƶ’s golf or gala planning committees or assist with the promoting and planning of community gatherings and other Foundation hosted events.

L. Gayle Gross, Chair
Donna M. Albano
Timothy Carew
Thomas “Tim” L. Glenn III
Barbara Gomes
John S. Gray
Lori S. Herndon ’92
Lisa Johnson
Charles W. Kramer
Daniel Nugent, Ex Officio
Roxanne Passarella, Esq. ’00
Bonnie D. Putterman, Esq. ’85
Rick Ricciardi ’75, ’76
Cookie Till ’83
Pamela A. Thomas-Fields, MAS ’93
Dr. Brigid C. Harrison ’88

University:
Erika Cassetta, '13, M.A. '15