Protected: PLCT By Laws

By-Laws

P.L.U.S. CHARITABLE TRUST

By Laws

The name of this organization is the P.L.U.S. Charitable Trust (the “Trust”).

1. Purpose

The purpose of the Trust is to provide leadership in charitable activities for members of the Phi Lambda (U.S.) Fraternity (“PLUS Fraternity”), which was founded to labor for the welfare of the people of Chinese descent and to promote understanding and cooperation among the diverse cultures and ethnic groups in our world.

The goals and objectives of the Trust shall include organizing and funding programs:

1.1 To improve education and health and to reduce poverty among people of Chinese descent.

1.2 To promote arts related to Chinese culture.

1.3 To improve cultural understanding between Chinese people and people of other ethnic origins.

1.4 To provide disaster relief, in situations where people of Chinese descent have been adversely impacted.

1.5 To provide other charitable services for the benefit of the worldwide Chinese community, which are consistent with the principle of “To labor for the welfare of the Chinese people” as stated in Article II.1(1) of the Constitution of the PLUS Fraternity, and with Internal Revenue Service regulations applicable to charitable organizations qualified under IRS Section 501(c)(3).

2. Board of Trustees

The Trust shall be governed by a Board of Trustees who are responsible for formulating and determining the policies of the Trust and overseeing its administration. The Board of Trustees shall be composed of nine Trustees:

2.1 Six Trustees shall be elected in staggered 3 year terms, at the annual national convention of the PLUS Fraternity. Two members shall be elected annually at the national convention, with their terms commencing upon their election at the PLUS Fraternity’s annual national convention.

2.2 One Trustee shall be the President of the PLUS Fraternity.

2.3 Two Trustees shall be named by the President of the PLUS Fraternity.

2.4 Whenever a vacancy among the six elected Trustees shall occur, the Board of Trustees may select a replacement at the next meeting of the Board of Trustees, to fulfill the remaining term of the Trustee who vacated.

2.5 The role of the Trustees includes:

i. To propose and initiate programs which further the goals and objectives of the Trust.

ii. To review and approve proposed programs which further the goals and objectives of the Trust.

iii. To take a leadership role in fund raising for programs initiated or endorsed by the Trust.

iv. To propose, review and approve the strategy, the management, and the policies of the Trust.

v. To provide leadership to the PLUS Fraternity in areas of charitable activities.

3. Officers

3.1 After the annual election of Trustees, the Board of Trustees shall elect three officers of the Trust: a Chairman, a Secretary, and a Treasurer. All three officers must be one of the six Trustees elected at the annual PLUS national convention. The President of the PLUS Fraternity and the two Trustees he named are not eligible to serve as Chairman, Secretary, or Treasurer.

3.2 The duties of the officers are as follows:

a. Chairman. The Chairman’s responsibilities shall include the following:

i. Preside at all meeting

ii. Serve as spokesman for the Trust Recording and distributing minutes of all meetings of the Board of Trustees

iii. To sign contracts on behalf of the Trust

iv. To supervise fund raising

v. To supervise the management of the Trust’s programs.

vi. To supervise the management of the Trust’s financial resources

b. Secretary. The Secretary’s responsibilities shall include:

i. Recording and distributing minutes of all meetings of the Board of Trustees

ii. Giving Trustees due notice of all meetings

iii. Custody of all legal documents of the Trust

iv. Printing and mailing of fund raising letters

v. Other duties on behalf of the Trust as the Board of Trustees may direct

c. Treasurer. The Treasurer’s responsibilities shall include:

i. Custody of all money and securities of the Trust

ii. Filing of all tax returns

iii. Investing the funds of the Trust in accordance with investment policies set by the Board of Trustees

iv. Maintaining the books of the Trust, and issuing financial reports of the Trust.

v. Maintaining records of the gifts and donations received, and noting any restrictions in such gifts.

vi. Maintaining records of the funds available, funds received, and funds spent by program, in those cases where gifts are received for specific programs.

vii. Issuing tax receipts to donors in acknowledgement of their gifts, with confirmation as to whether the gift was unrestricted or whether it was to be applied to a specific program.

4. Meetings

4.1 Trustees may hold their meetings at places agreed by the Trustees or by teleconference.

4.2 Notice of each meeting of the Board of Trustees stating the time, place, and teleconference call-in number and password shall be sent by email to each Trustee, not less than five (5) days nor more than sixty (60) days before the meeting.

4.3 At each meeting of the Board of Trustees, a majority of all of the members of the Board of Trustees shall constitute a quorum for the transaction of business.

4.4 It is ordinarily the duty of the Secretary or the Chairman of the Trust to convene meetings of the Board of Trustees. However, a meeting may be convened by any three Trustees by giving appropriate notice to each Trustee in accordance with Section 4.2.

5. Programs

5.1 The programs that the Trust endorses, may be either self initiated programs or programs initiated and organized by other charities or non-profit organizations.

5.2 All programs must be consistent with the goals and objectives of the Trust as defined in Section 1.

5.3 The Trust will give consideration to the following criteria in determining its decision to sponsor programs:

i. High return on investment. That is, the program has a large impact in achieving the goals and objectives of the Trust in relation to the amount of money spent.

ii. Tangible results. Programs which result in specific tangible results, are preferable to programs which simply donate funds to a worthy cause.

iii. Accountability and management track record of the grant recipient. Grant recipients should show a commitment to the accountability of their funds, and show a strong previous record for managing their programs effectively.

iv. Review of finances of the grant recipient. Where applicable, the financial statements of the grant recipient, in the form of the IRS form 990, should be reviewed.

6. Amendments To the Trust’s By Laws

6.1 Any Trustee may propose an amendment to the By Laws of the Trust by submitting the proposed amendment to the Secretary of the Trust.

6.2 The Secretary should circulate the proposed amendment among all the Trustees within 15 days of the receipt of the proposed amendment and convene a meeting of the Board of Trustees not earlier than thirty (30) days, and not later than sixty (60) days from the date the proposed amendment is circulated.

6.3 An amendment to the By Laws of the Trust may be approved by a two-thirds majority vote of all the Trustees. Duly-executed proxies are permitted at such meetings.

6.4 All amendments shall be published in the bulletin of the PLUS Fraternity when passed.