The Russell Family Foundation is pleased to announce its search for two new committee members to join its Investment and Audit Committee (IAC). The IAC provides oversight of the Foundation’s investment affairs, including managing its assets and recommending investment policies in alignment with its values and mission.
The IAC members will help determine the strategic direction of the endowment, including identifying ways to increase the values alignment of TRFF’s investments. Today, TRFF’s investments are approximately 90% mission-aligned. They will hold the full rights and privileges imparted to trustee committee members, including voting power and eligibility to chair the IAC.
The committee is currently comprised of three members – two family board members and one community board member. Responsibility of committee members includes to monitor and evaluate the performance of the investment consultant, such as by regular review of quarterly reports, review and approve or decline investment recommendations made by the consultant or staff, and attendance of in-person meetings. Evaluate and provide advice to the Board and staff on how TRFF’s investment policy and strategy, investment activities, risk management controls, and processes align with the Foundation’s mission, goals, and objectives. Periodically report to TRFF’s Board on endowment assets, performance relative to the Foundation’s investment objectives, values alignment, and other matters which the Investment and Audit Committee deems relevant. Review the financial information provided by the Foundation and oversee third-party annual audits by independent auditors. Retain or dismiss outside professionals when appropriate to ensure effective execution of the IAC’s responsibilities.
IAC Committee Member Role and Responsibilities
- Participate in Investment and Audit Committee meetings quarterly (typically 2-2.5 hours each) along with a yearly learning retreat (typically one day-long). Preparation for these meetings includes up to one hour of pre-reading.
- Investment and Audit Committee members may occasionally be invited to participate in certain other Foundation meetings or other strategic initiatives.
- Investment and Audit Committee members may be asked to represent the Foundation in the field, such as through speaking engagements and conference participation.
- IAC members are also responsible for preparing for these additional optional meetings, which typically include up to one hour of pre-reading and up to two 30-minute prep calls.
- Foundation-related business expenses are reimbursed. Independent Investment and Audit Committee members will receive either an allocation to recommend up to $5,000 in grants that fall within the Foundation’s guidelines or $5,000 in direct compensation as desired by the IAC member.
- Partner with staff in shaping the execution of TRFF’s investing goals, particularly as they relate to values alignment and optimization of total portfolio activation of the Foundation.
- Think creatively, raise insightful questions, and bring a fresh and unique perspective to the conversations on key issues.
- Partner with TRFF to expand the Foundation’s connections, networking, and thought leadership in values-aligned investing.