Revised June 14, 2012
INVESTMENT POLICY
The Bob Galley Educational Foundation will maintain a minimal balance of $75,000.00.
The balance shall be invested in a moderate risk security instrument which allows access of any funds over the minimal balance. The Foundation shall act prudently in reviewing the investment return to ensure that a moderate risk return is being realized. The Board of Director shall have authority upon a majority vote of the Directors to transfer funds. The minimal balance maintained by the Foundation may be changed by a 2/3 vote of the Board of Directors. The Board of
Directors shall review the rate of return at each annual meeting. Any balance in the Foundation account(s) over $75,000 shall be available for awarding scholarships on an annual basis.
FUNDRAISING POLICY
The Bob Galley Foundation shall seek to raise additional funds to add to the principal balance of the Foundation. The Foundation shall use WAR communications to educate the WAR members of the Bob Galley Foundation purpose and request donations and gifts. Bob Galley
Foundation will work with any NAR recognized designation to seek further advancement of fundraising as well as work with educators to seek donations to the fund. The Bob Galley
Foundation will attempt to hold a raffle once a year to raise additional funds.
SCHOLARSHIP APPLICATION POLICY
The scholarship funds may be used to cover the tuition and associated expense of any
NAR recognized designation class/training, including on-line training. Each Local Board, including the one at-large board, shall be eligible for one member of the Board to be awarded a scholarship. The available funds for scholarship will be equally divided among the Board applicants. The applications will be distributed to the Local Boards in February of each year.
The applications are due to the WAR office by August 1. The Bob Galley Foundation will meet at the annual meeting and determine the amount of each scholarship based upon the number of qualified applicants and announce the winners at the Annual Meeting. The qualifications will change from time to time. Based on decisions by the Board of Directors, those qualification requirements will be stated on the scholarship application with a requirement of a revision date being placed on the application. The scholarship application will be reviewed by the Board of
Directors at the Annual Meeting for revisions for the following year. The amount available for scholarships will be based on the balance in the Bob Galley Investments on September 1 of that year.