During the 2018 Voting Member’s Meeting in St. Louis, MO, there were three amendments to the Foundation by-laws regarding Voting Membership.
The approved amendments are as follows:
Section 1. The members of the Foundation shall consist of the incumbent directors of the Foundation and eligible donors who have reached a cumulative giving level of $1000. All members of the Foundation must be living members of Alpha Kappa Psi Fraternity.
Section 2. A member’s eligibility to vote shall be maintained by a contribution of $250* or more in the fiscal year prior to the annual, or any special, meeting. In-kind donations will not be counted for the purposes of determining voting rights.
Section 3. For the purposes of membership and voting, a donation received in the name of multiple individuals will be divided and allocated equally to those individuals, unless the donation specifically indicates a different allocation. Matching gifts from other organizations will not be credited for purposes of the determination of voting rights.
Section 4. Except as these bylaws may otherwise specifically provide, all members during the continuance of their membership shall have identical rights, privileges and duties.
*Increase implemented over a three-year period beginning in 2018-19 fiscal year.
What does this mean?
These by-law amendments do two things: 1) change the eligibility requirements to be a voting member of the Foundation; and 2) discontinues consideration of matching donations toward Voting Membership.
Eligibility for Voting Membership over the next four years will be determined as follows: