The Board of Managers of Investment and Permanent Funds is responsible for management and investment, consonant with Friends principles, of Yearly Meeting funds and funds entrusted to it by meetings, schools, and other Friends organizations for the purpose of maintaining a source of continuing income and growth. The Board uses the services of a professional investment advisor and a sound bank as custodian for protection and safekeeping of the assets.
If you have additional information needs or are interested in learning more about the benefits of participating in the pooled funds, please email the Board of Managers.
Purpose
The Board of Managers of Investments and Permanent Funds is responsible for the management and investment, consonant with Friends principles, of Yearly Meeting funds and funds entrusted to it by meetings, schools, and other Friends organizations in New England for the purpose of maintaining a source of continuing income and protection and growth of capital.
Procedures
The Board uses the services of a professional investment advisor, and a sound bank as custodian for protection and safekeeping of the assets. It meets annually with representatives of its constituents to relate their needs to the investment strategy of the Board during NEYM Annual Sessions, held the first week in August. The Board also meets on the 2nd Wednesday of February, May, September, and November, and at other times when needed. All meetings are open.
Committee Resources
Composition
The Board of Managers consists of:
- Ten members named by Nominating Committee and appointed by the Yearly Meeting in staggered, 5-year terms
- The Yearly Meeting Secretary, NEYM Treasurer, Clerk of NEYM Finance Committee
- The Clerk, Recording Clerk and Board of Managers Treasurer are appointed by the Board from among its members and approved by the Yearly Meeting
The Board of Managers collaborates with and maintains linkages with Finance Committee and the Yearly Meeting Secretary
