Greg Mace Memorial Fund

The Greg Mace Memorial Fund was adopted by the Colorado Search and Rescue Board on January 9, 1997

1. Introduction

The intent of this fund is to provide money for Colorado Search and Rescue Board (hereinafter referred to as the "Corporation") members who wish to become instructors or trainers and to subsidize other search and rescue (SAR) related training opportunities. The goal is to provide quality SAR training at a reduced cost. That goal can be met by subsidizing the training costs of prospective instructors from within the Corporation's membership. Once trained, these instructors will give back to the Corporation by providing SAR training for Colorado SAR resources. Instructors who receive monies from the Greg Mace Fund shall not expect to profit from their teaching of these classes.

2. Fund Operations

2.1. Board of Directors

The Board of Directors of the Corporation may choose to spend Greg Mace Fund monies on SAR related trainings. This, however can only occur if the majority of the board of directors, who are present and voting, is in favor of such action.

2.2. Members

Any current member of the Corporation may apply for money. All applications must be received in writing by a director of the Corporation at least 90 days before the need date. The Board of Directors of the Corporation will approve or deny by a majority of those present and voting each application. The Board of Directors will decide the amount awarded to approved applications. The Treasurer will fund approved applications or requests as soon as practical.

The board of directors of the Corporation may, in exigent circumstances, wave any of the aforementioned requirements or the application guidelines.

The secretary of the Corporation will maintain a history of all applications and recipients.

The application guidelines along with the names of the recipients shall be provided yearly in the Corporation's newsletter.

2.2.1 Approval Guidelines

The Board of Directors of the Corporation will grant scholarships or training money based on the following guidelines.

2.2.2 Application Guidelines

The applicant must be affiliated with a dues paying team or an individual member of the Corporation. All requests for subsidy shall include:

3. Investment Guidelines

The general investment strategy for the Fund is to provide a consistent stream of income annually to fund SAR training, and to preserve principal of the fund by establishing a maximum income draw which cannot be exceeded without the fulfillment of certain conditions.

3.1 Investment Strategy

The Corporation shall seek to achieve the highest total investment return consistent with present risks through an appropriate portfolio. It is expected that the officers of the Corporation shall use their best judgment to reduce any unusual or unnecessary risk.

4. Distributions

Net income (dividends and interest) and principal of the Fund shall be distributed as follows:

All of the above-mentioned directors must vote or abstain. Balloting may be performed by mail. Members may not vote by proxy. If amount available for distribution exceeds the amount requested, the excess shall be re-invested in the principal of the Fund.