Executive Committee; Other Committees
Membership. The corporation shall have an Executive Committee, consisting of the Chairman of the Board, the Vice Chairman of the Board, the President, the immediate past Chairman of the Board, and the chairman of each standing committee designated in this Article V.
General Powers. The Executive Committee shall have and may exercise, in the interim between meetings of the Board of Directors, and except as otherwise provided in Section 12 of this Article, all the powers of the Board of Directors.
Nominating Committee. The Chairman of the Board shall make annual appointments to a Nominating Committee and shall recommend its chairman. The Nominating Committee shall nominate candidates for the Board of Directors each year. The Nominating Committee shall consist of not fewer than five (5) members of the Board of Directors, and it shall report its nominations and the Chairman of the Board’s recommendations of committee chairmanships to the Board of Directors at the spring meeting each year.
Finance Committee. The Chairman of the Board shall make annual appointments to a Finance Committee consisting of not fewer than five (5) members, including the Treasurer of the Foundation, and shall recommend its chairman, who shall not be an employee of the corporation or of the University of North Carolina at Chapel Hill. The Finance Committee shall have authority to invest and reinvest the assets of the corporation, except to the extent such authority may be limited from time to time by the Board of Directors.
Audit Committee. The Chairman of the Board shall make annual appointments to an Audit Committee composed of the same directors who serve on the Finance Committee, with the exception of any employees of the corporation or of the University of North Carolina at Chapel Hill. The chairman of the Finance Committee shall also serve as the chairman of the Audit Committee. The Audit Committee shall receive the report of the independent CPA firm that conducts the corporation’s annual audit and relevant tax forms.
Development and Communications Committee. The Chairman of the Board shall make annual appointments to a Development and Communications Committee consisting of not fewer than five (5) members and shall recommend its chairman. The Development and Communications Committee shall have the responsibility for stimulating private financial support for the College of Arts and Sciences at the University of North Carolina at Chapel Hill and working to inform internal and external audiences of the mission, programs, and needs of the College.
