The Executive Director shall not risk organizational assets by:
Executive Director’s Interpretation
“Organizational Assets” includes buildings, equipment, financial reserves, and intellectual property.
- Failing to obtain adequate property and liability insurance;
Executive Director’s Interpretation
“Adequate” means not over-insured, nor under-insured.
Means of Measuring Executive Director’s Compliance of His Interpretations
Annually, the Executive Director will provide the Board of Directors a summary of the insurance coverage held by CommunityIMPACT, Inc. and the logic behind the limits for each category of insurance.
- Acquiring or disposing of real property without Board approval;
Executive Director’s Interpretation
“Real Property” is facility or land owned by CommunityIMPACT, Inc..
Means of Measuring Executive Director’s Compliance of His Interpretations
Annually, the Executive Director will provide the Board of Directors a summary of all real property owned by CommunityIMPACT, Inc. and the date of acquisition.
- Failing to appropriately fund asset maintenance and replacement;
Executive Director’s Interpretation
“Maintenance” includes preventive maintenance, replacement of consumable assets, as well as repair/replacement of failed items.
Means of Measuring Executive Director’s Compliance of His Interpretations
Annually, the Executive Director will provide the Board of Directors a summary of the plan for the maintenance of all physical assets during the coming year.
- Failing to invest funds without a reasonable return;
Executive Director’s Interpretation
“Reasonable” is relative to the market.
Means of Measuring Executive Director’s Compliance of His Interpretations
Annually, the Executive Director will provide the Board of Directors a summary of all invested funds and the rate of return during the prior year.
- Failing to appropriately protect intellectual property, including trademarked and copyrighted materials, of CommunityIMPACT, Inc..
Executive Director’s Interpretation
“Intellectual Property” are assets unique to the operations of CommunityIMPACT, Inc. such as database, website content, or strategic concepts.
Means of Measuring Executive Director’s Compliance of His Interpretations
Annually, the Executive Director will provide the Board of Directors a summary of all intellectual property of CommunityIMPACT, Inc. and the means of protecting its value (i.e. non-compete documentation).
II.I
Adopted: June, 2007 | Modified: January, 2013 | Printed: January, 2013