PURPOSE

The fund is established to receive donations and bequests in support of ASBA’s mission beyond funding required for basic operations.

INVESTMENT

Initially, the fund will be invested in conservative, liquid financial assets. In time the intent is to have qualified financial advisors oversee the investment process. The fund will be conservatively invested to produce income and appreciation.

MANAGEMENT

The Board President and the Treasurer shall serve as ex officio members of an Acorn Committee. The Board President may nominate additional Acorn Committee members to be approved by the Board. Assets of the fund shall be kept separate from the funds otherwise belonging to the ASBA via separate accounting and investment accounts. The Acorn Committee will report on the administration of the fund at the Annual Meeting of the ASBA.

USE OF FUNDS

Any ASBA member may propose projects for funding to The Acorn Committee, who will review and refer proposals to the Executive Committee for approval. Both income and principal may be allocated for withdrawal in support of approved projects, but the ASBA Board may, from time to time, set a limit on the amount available for use. The Acorn Committee shall promptly disclose appropriations from the fund in the next communication with the membership and at the Annual Meeting.

 For more information about the ASBA Acorn Fund, planned giving, scheduled billing, or other donation options, please contact member services at memberservices@asba-art.org