July 1st - July 6th, 2008
PROPOSALS
OFFICIAL NOTICE FROM SUBUD USA TO ALL USA SUBUD MEMBERS
The following three proposals have been submitted for consideration at the National Congress.
Our Subud USA by-laws require that the membership know about potential by-law changes 90 days before the congress. Your replies are welcomed, as the national committee will present the pros and cons of each proposal to the delegates, if we get replies ahead of time.
DELEGATES - please discuss these issues with your "constituency" at local and regional meetings.
Our bylaws are at: http://subudusa.org/documents.php
The following three proposals have been submitted for consideration at the National Congress.
Our Subud USA by-laws require that the membership know about potential by-law changes 90 days before the congress. Your replies are welcomed, as the national committee will present the pros and cons of each proposal to the delegates, if we get replies ahead of time.
DELEGATES - please discuss these issues with your "constituency" at local and regional meetings.
Our bylaws are at: http://subudusa.org/documents.php
| PROPOSAL #1 : Change in TERM LENGTH for NATIONAL COMMITTEE From Subud Boston; Contact: Dorothea Gillim, yo_gillim@hotmail.com PROPOSAL, INCLUDING BACKGROUND INFORMATION AND REASON FOR PROPOSAL: Subud Boston would like to propose that the term for the national committee be changed from 2 years to 4 years, to be appointed in the middle of the 4-year national helper tenure, so the new national committee and helpers are staggered. The extended term will hopefully enable more progress to occur at the national level, and staggered committee and helper terms will promote greater continuity. PROPOSED ACTION TO BE TAKEN: To become effective at July 08 congress. |
| PROPOSAL #2 : Change related to ENDOWMENT FUNDS CONTACT: HARDWIN BLANCHARD, NATIONAL COMMITTEE TREASURER 808-966-6362, Fax: 808-966-4889, hblanchard@hawaii.rr.com Reason for Endowment Fund Guidelines in the Subud USA Bylaws: To address the concern that donations to the endowment funds might be misused or frittered away, contrary to the wishes and intentions of the donors, we wish to state in the most public and permanent way that the principle gifts to the endowment funds will not be spent, but will remain with the endowment funds in perpetuity to forever provide a strong foundation for the work of Subud USA. Article XV - Guidelines Regarding the Use of Subud USA's Endowment Funds and Growth and Capital Development Fund Each Fund shall be governed by its own set of rules. If more funds are established in the future, the rules governing their use shall be established at that time. Currently there are three funds: The Endowment Pension Fund The Endowment General Purpose Fund The Growth and Capital Development Fund The Endowment Pension Fund Principal from this Fund is not to be used, but is to be invested so as to earn income, which may be spent for the following purposes: Income from this fund is to be used to provide retirement income for retired employees of Subud USA. In the event there is no retired employee to receive pension benefits, the income from this account is to be used at the discretion of the Board. It may remain in the Endowment Pension Fund to increase the reserves of the fund, and may be designated either Principle, hence no longer distributable to future retirees, or it may be designated income, so that it may be used to augment pension payments to future retirees. In the event there is no retired employee to receive pension benefits, the income from this account may also, at the discretion of the Board, be used to support general fund expenses, or for other purposes deemed appropriate by the Board. The Endowment General Purpose Fund Principle from this fund is not to be used, but is to be invested so as to earn income, which may be spent for the following purposes: Income from this fund is to be used at the discretion of the Board. It may be used to support ordinary budgeted general fund expenses, special projects or special purposes, or it may be left in the General Purpose Endowment Fund to add to the growth of the fund. The Board may decide that the lesser of income from the fund or 2% of the fund’s value is to be left in the Endowment General Purpose Fund to allow the value of the fund to keep up with inflation. The balance of the income may be spent at the direction of the Board. The Capital Growth and Development Fund The purpose of this fund (technically not an endowment fund) is to provide for the purchase of generally non-depreciating assets, such as buildings or land. Income from this fund stays in this fund. In the event Subud USA decides to buy land or a building, then both income and principle from this fund can be used to help with the purchase of said land or building. Management: Management and investment of these funds will be governed by the principles of the Uniform Prudent Management of Institutional Funds Act. (UPMIFA is a fairly broad-minded, recently updated, and very well-thought-out document developed over the years by professionals.) The details of how Subud USA invests these funds will be developed as the funds grow. |
| PROPOSAL #3 : Rewriting Subud USA Bylaw Article XIV Contact: Hardwin Blanchard, Treasurer, Subud USA ADDRESS: PO Box 1166, Keaau, HI 96749 808-966-6362, Fax: 808-966-4889, hblanchard@hawaii.rr.com Reason for Rewriting Subud USA Bylaw "Article XIV: Dissolution" When the Bylaws were originally written there were no Subud organizations (such as MSF or SDI) to which residual assets could be given, so the original Bylaws only mention giving residual assets to charitable or religious organizations. I think it is wise for us at this time to specify that if at all possible residual assets would be turned over to other Subud organizations. It also seems wise to write into the bylaws the provision that the Endowment Pension Fund should be administered by the recipient of the fund in such a way as to give a retirement benefit to any qualifying employees affected by the dissolution. All this makes for a somewhat complicated Dissolution article, but it seems better to spell it out even though the event is not really very likely, rather than not deal with the issue. Proposed rewritten Article XIV: Dissolution Upon the dissolution or winding up of Subud USA, to the extent required by law, the assets of the Endowment Funds may be used to pay for debts and obligations of the Corporation. However, in order for the Endowment Funds to continue to support the work of Subud in the world, as much of the assets as possible will be given to Muhammad Subuh Foundation's Bapak Legacy Fund. If this is not possible, then as much of the assets as possible will be given to Susila Dharma USA, then Susila Dharma International. Failing any of these alternatives, the assets of the Endowment Funds shall be distributed to other Subud Organizations as can reliably use the funds for the benefit of Subud. Failing this, the Board shall distribute the Endowment Funds to one or more corporations or other organizations organized and operated exclusively for religious, charitable, or educational purposes, and no part of such assets shall be distributed to any individuals. Furthermore, the Pension Endowment Fund shall be preserved to the greatest extent possible, which means it shall be the last endowment fund to be used to settle debts and obligations of the Corporation in the event of the dissolution of the Corporation. Then whatever entity receives the balance of funds from the Pension Endowment Fund shall have the responsibility to manage this fund so as to be able to continue making pension payments to retired employees of Subud USA, and to other employees who have qualified for pension payments who are laid off or retire because of the Dissolution of the company. Such retirement payments shall commence when the person involved reaches retirement age, or an age when they would qualify to receive pension payments from the Corporation. Upon the dissolution or winding up of Subud USA, after paying or adequately providing for its debts and obligations, the assets of Subud USA, other than endowment funds, in order to continue to support the work of Subud in the world, will be given to Muhammad Subuh Foundation's Bapak Legacy Fund. If this is not possible, then as much of the assets as possible will be given to Susila Dharma USA, then Susila Dharma International. Failing any of these alternatives, the remaining assets shall be distributed to other Subud Organizations as can reliably use the funds for the benefit of Subud. Failing this, the Board shall distribute the remaining assets to one or more corporations or other organizations organized and operated exclusively for religious, charitable, or educational purposes, and no part of such assets shall be distributed to any individuals. |
 Hardwin at school |
 Dorothea in Toontown |
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