Investment and Finance Committee Requirements

Purpose

To maximize revenue to meet financial needs of NDCF – CFFL&A, by prudent investment practices that preserve endowment capital and provide long-term growth with a modest degree of risk.

The Investment Guidelines of Toronto Foundation (TF) be accepted in its entirety by NDCF – CFFL&A. (Board Motion – October 2006)

Duties and Responsibilities

Investment and Finance Committee

  1. RESPONSIBLE TO AND SHALL REPORT TO THE BOARD OF DIRECTORS.
  2. PROVIDE MINUTES OF MEETINGS FOR THE BOARD.
  3. CONFLICT OF INTEREST SHOULD BE INCLUDED AS AN AGENDA ITEM FOR EACH MEETING TO REMIND DIRECTORS/MEMBERS OF THEIR RESPONSIBILITY TO DECLARE.
  4. REVIEW THESE TERMS OF REFERENCE ANNUALLY AND RECOMMEND REVISIONS TO THE BOARD.
  5. REVIEW ANNUALLY THE INVESTMENT POLICIES AND GUIDELINES OF TCF TO ENSURE THEY ARE IN ALIGNMENT WITH NDCF’S REQUIREMENTS.
  6. REVIEW ANNUALLY ANY AGREEMENT FOR THE INVESTMENT MANAGEMENT OF THE FUNDS OF CFFL&A AND RECOMMEND ANY CHANGES TO THE BOARD FOR ITS APPROVAL.
  7. RECOMMEND ANNUALLY TO THE BOARD THE APPOINTMENT, RE-APPOINTMENT, OR CHANGE TO THE INVESTMENT MANAGER AND CUSTODIANS.
  8. MONITOR THE INVESTMENT PERFORMANCE AGAINST PERFORMANCE EXPECTATIONS SET OUT BY TCF AND REPORT ANNUALLY TO THE BOARD.
  9. MEET AT LEAST QUARTERLY AND REVIEW INVESTMENT PERFORMANCE QUARTERLY WITH THE BOARD.
  10. REPORT ANNUALLY TO THE BOARD ON CANADA REVENUE AGENCY (CRA) REQUIREMENTS AFFECTING THE FOUNDATION.
  11. REVIEW FUND RAISING PLANS IF CHARITABLE RECEIPTS ARE BEING ISSUED.
  12. IN CONJUNCTION WITH ASSET DEVELOPMENT & MARKETING, ASSIST IN SETTING UP NEW FUNDHOLDER AGREEMENTS.
  13. REVIEW AND RECOMMEND ON ALL FINANCIAL MATTERS, INCLUDING BUT NOT LIMITED TO; BUDGETING, CASH FLOW, AND FINANCIAL REPORTING.

Membership

  1. THE CHAIR OF THE COMMITTEE SHALL BE A MEMBER OF THE BOARD.
  2. MEMBERS ARE APPOINTED BY THE BOARD.
  3. COMMITTEE MEMBERS SHALL SERVE A MAXIMUM OF TWO CONSECUTIVE THREE-YEAR TERMS AT THE PLEASURE OF THE BOARD.
  4. THE COMMITTEE SHALL CONSIST OF NOT FEWER THAN THREE MEMBERS.
  5. THE PRESIDENT AND EXECUTIVE DIRECTOR ARE EX-OFFICIO MEMBERS
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