CHICAGO – The American Library Association (ALA) Executive Board is currently accepting applications to fill two ALA Endowment Trustees committee vacancies. ALA members interested in submitting their candidacy for a three-year term are welcome to complete an application form and provide three professional letters of references before June 5, 2021.
ALA Endowment Trustees manage the ALA Endowment Fund on behalf of the Executive Board, guided by the established policies, procedures, and guidelines of the ALA investment policy statement. Additionally, they have the authority to hold, invest, reinvest, recommend disbursements, and otherwise deal with endowment funds under the direction of the Executive Board of the association.
Trustee candidates must have experience in the management or oversight of investment funds in a business setting and must be able to contribute to the preparation of semi-annual reports on the performance of the fund to the ALA Executive Board and Council. Additionally, candidates must participate in any scheduled conference calls, attend two of four meetings per year in Chicago and other selected cities – New York, Washington, DC, etc., and if
possible at the ALA conferences.
The ALA Executive Board and current Endowment Trustees seek candidates with the following qualifications:
- Investment Skills|
Trustees must have a working knowledge of the financial markets. This working knowledge should include the fundamentals of investment practice, as well as familiarity with market indices. Experience in investing as a trustee or custodian is beneficial. Awareness of economic principles is desirable. Candidates are expected to maintain ongoing knowledge of current economic conditions and issues.
- Association Involvement
Trustees evidence a basic knowledge of ALA’s mission and goals and an awareness of the services and activities of the association. Knowledge of the awards and scholarships program is also beneficial, as is work in other areas of the association.
- Judgment and Analytical Skills
Essential to the effective operation of the Endowment is the Trustee’s ability to exercise judgment and make decisions that reflect prudence, insight, and care. Teamwork among the Trustees is essential for this shared charge to be effectively dispatched. The ability to study a situation and to develop well-reasoned strategies is a critical requirement. While the trustees exercise independent judgment and discretion concerning Endowment investments, they must also be effective communicators and take necessary and appropriate direction from the Executive Board.
The ALA Executive Board will select trustees during the ALA Annual Conference virtual event from June 23 – 29, 2021. Appointed Trustees will begin serving immediately upon notification of their selection. The three-year term will expire after the 2024 ALA Annual Conference in San Diego, California.
Keith D. Brown, Senior Financial Analyst, Finance Department, ALA, is available at 1-800-545-2433, ext. 4255 or [email protected] to provide additional information regarding sought-after ALA Endowment Trustee qualifications and responsibilities.
About the American Library Association
The American Library Association (ALA) is the foremost national organization providing resources to inspire library and information professionals to transform their communities through essential programs and services. For more than 140 years, the ALA has been the trusted voice for academic, public, school, government, and special libraries, advocating for the profession and the library’s role in enhancing learning and ensuring access to information for all. For more information, visit ala.org.
Originally published at https://www.ala.org/news/press-releases/2021/04/ala-seeks-candidates-fill-endowment-fund-trustee-openings
