FOUNDATION

Posted on October 28, 2020

Section 1. Composition.
a) Foundation: The Foundation is the policy making body for the objectives specified below in Section 4 of this article and is autonomous in administration but accountable to the President and the Board of Directors. The Foundation is operated by four (4) elected Foundation Donor Trustees, and ten (10) elected Regular Foundation Trustees.

b) Foundation Donor: Any Life Member who donates $10,000 or more to the Foundation Endowment Fund or to General and Developmental Projects (specified in Section 5.a.ii and 5.a.iii below) executed by Foundation within a period of two (2) calendar years shall become a Foundation Donor. For the purposes of this Section 6(b), any person who either by himself or herself, or together with the person’s spouse, is (a) the owner of one hundred percent (100%) of the issued and outstanding shares of stock in a closely-held corporation or (b) the owner of one hundred percent (100%) of the membership interests in a limited liability company when such corporation or limited liability company makes a donation to GONA in the amount required in the preceding sentence shall be eligible to be classified as a Foundation Donor. Any person who is a Foundation Donor on the date of adoption of these bylaws shall remain a Foundation Donor.

c) Foundation Donor Trustee: Except as otherwise provided in Article VIII, Section 6(b), only Foundation Donors shall be eligible for election to the position of Foundation Donor Trustee. The term of a Foundation Donor Trustee shall be four years. One half of the Foundation Donor Trustees shall retire every two years and shall be replaced by elections. Foundation Donor Trustees who have been elected or nominated for two consecutive terms shall be ineligible for reelection or reappointment. The term for each Foundation Donor Trustee shall commence at midnight on the concluding day of the GONA National Conference next following such member’s election. If, for any reason, no GONA National Conference is held, the term will commence on the 10th of September next following the election.

d) Foundation Trustee: Any Life Member shall be eligible to be seated as a Foundation Trustee. The term of a Foundation Trustee shall be four years. One half of the Foundation Trustees shall retire every two years and shall be replaced by elections. Foundation Trustees who have been elected or nominated for two consecutive terms shall be ineligible for reelection or reappointment. The term for each Foundation Trustee shall commence at midnight on the concluding day of the GONA National Conference next following such member’s election. If, for any reason, no GONA National Conference is held, the term will commence on the 10th of September next following the election.

e) GONA President Ex Officio Member: The GONA President shall be an ex officio member of the Foundation with full voting privileges.