Governance,
Compliance, Reports
Constitution
Grand Founders Overview
Born from a shared culture and unwavering values, Grand Founders unites founders and funders with a noble mission - to shape a brighter future for generations. This vibrant community of responsible leaders is bound by dignity, integrity, and a commitment to social responsibility. We believe that through harnessing resources, fostering relationships, and inspiring purpose, we can create a lasting legacy of prosperity and protection.
Grand Founders is an economic development and national security foundation (EIN: 923725118) that makes impact investments and supports emerging entrepreneurs globally, ensuring a noble legacy for generations to come. The foundation is a NYC based 501c3, and fully backed and supervised by Grand Founders Ambassadors.
Grand Founders Ambassadors is a noble community of mission-driven and socially responsible founders and funders, united by similar culture and values.
Mission, Vision, Culture, Values, Impact and Legacy
Our Vision: To build and empower a global network of a million responsible business leaders, shaping a world where prosperity goes hand-in-hand with ethical action and positive impact.
Grand Founders’ Culture and Values are driven by dignity, integrity, liberty, fidelity, courage, authority and legacy.
Our Mission: To fuel economic development and national security by:
Making transformative impact investments that empower emerging entrepreneurs globally.
Providing a dynamic platform for knowledge sharing, collaboration, and professional networking.
Building an endowment fund dedicated to supporting community members and their allies, ensuring a noble legacy for generations to come.
Our insights have revealed that future success hinges on the following principles, which we refer to as the 3Rs, 3Ps, and 3Cs and successfully implemented into Trust Hub:
Resources, Relationships, and Responsibility
Purpose, Prosperity, and Protection
Creativity, Collaboration, and Communication
Impact and Legacy
Social Impact:
A thriving community of responsible business leaders and investors fostering collaboration, mutual support and social responsibility.
Professional Impact:
An interactive platform enabling the exchange and sharing of ideas, opportunities, knowledge, expertise and professional networking.
Financial Impact:
Endowment Fund that provides financial support to community members and their allies.
Programs, Activities, Initiatives
Executive Leadership holds the responsibility of developing programs and activities within the foundation, with fundraising and grant-making execution taking place once the Steering Committee approves them. All fundraising and grant-making endeavors are conducted in strict accordance with the foundation's fundraising and grant-making policy and guidance, emphasizing equity, inclusivity, transparency, financial prudence, and adherence to legal and regulatory requirements. The Program Manager/Program Director/Chief of Staff oversees the adherence of programs to these guidelines and ensures relevant subcommittees review and approve proposals before seeking final approval from the Steering Committee. Additionally, Executive Leadership is in charge of crafting a comprehensive fundraising strategy, while the foundation prioritizes equitable and inclusive grant-making, monitoring and evaluating program effectiveness, and maintaining public accountability through transparent reporting. Throughout the process, Executive Leadership engages stakeholders actively to understand their perspectives and needs, fostering collaborative decision-making and fostering stronger relationships with donors, grantees, and beneficiaries.
All programs, initiatives, and activities developed by Executive Leadership are outlined in detail within the Grand Founders Masterplan. This comprehensive document serves as the blueprint for the foundation's mission, strategic priorities, and the step-by-step roadmap for achieving its long-term objectives. The Masterplan provides a clear and cohesive framework, ensuring that all fundraising and grant-making efforts, as well as program development, align with the foundation's overarching vision and purpose. By referring to the Grand Founders Masterplan, Executive Leadership ensures that every action taken is in harmony with the foundation's strategic direction, maximizing its impact and effectiveness in creating positive change and fulfilling its mission.
Grand Founders Communities
At Grand Founders, we believe that communities are the backbone of progress and development. Through our unique model, we bring together individuals from all walks of life, including business leaders, investors, entrepreneurs, donors, sponsors, partners, and supporters, to form a cohesive and impactful collective.
Our primary mission is to establish a community of one million responsible business leaders and investors who are dedicated to making a positive change in the world. We firmly believe that the power of the community can drive meaningful transformation and address pressing global challenges.
To achieve our strategic goal, we operate a number of formal communities, each with its distinct focus and purpose. These communities offer tailored experiences to cater to the diverse interests and aspirations of our members. All community activities and initiatives are guided and regulated by the Grand Founders Community Policy and Code of Conduct, ensuring that we maintain a cohesive and productive environment.
Grand Founders understands that the collective efforts of individuals with a shared vision can drive innovation, foster responsible practices, and create a lasting impact on society. As a result, community lies at the heart of everything we do, and we continuously strive to strengthen and expand our network to bring positive change to the world.
Community Code of Conduct
At Grand Founders, we are committed to fostering a vibrant and responsible community of business leaders, investors, entrepreneurs, and emerging leaders. Our mission is to provide mentorship and grants to emerging entrepreneurs, while also promoting responsible citizenship and social initiatives. To create a supportive and inclusive environment for all members, we expect each member to adhere to the following code of conduct:
Respect and Inclusivity:
We value diversity and inclusivity in our community. Treat all members with respect, regardless of their background, ethnicity, gender, religion, or any other personal characteristic. Harassment, discrimination, or any form of offensive behavior will not be tolerated.
Mentorship and Collaboration:
As experienced business leaders, we encourage all members to actively participate in mentorship programs and support emerging entrepreneurs and leaders within the community. Collaboration is key to fostering growth and development.
Commitment to Social Initiatives:
We believe in giving back to society. Each responsible entrepreneur should commit at least 1% of their income or equity to support social initiatives and charitable causes, in line with our mission to make a positive impact on our communities.
Maintaining Confidentiality:
Respect the confidentiality of information shared within the community. Avoid sharing sensitive details without explicit permission from the parties involved.
Promote Ethical Practices:
Uphold high standards of ethics and integrity in all business dealings. Avoid engaging in any practices that may harm the community's reputation or the greater society.
Constructive Feedback:
Encourage open and constructive feedback among members to foster continuous improvement and personal growth.
Transparency and Accountability:
Be transparent in your actions and commitments. Take responsibility for your words and deeds within the community.
Compliance with Laws and Regulations:
All members must comply with applicable laws and regulations within their respective jurisdictions. Illicit activities and unsolicited offers will not be tolerated.
Conflict Resolution:
In the event of conflicts or disputes, approach them with patience and respect. Seek amicable resolutions and involve community leaders if necessary.
Use of Community Resources:
Utilize community resources responsibly and solely for purposes that align with the community's objectives.
Continuous Learning:
Embrace a spirit of continuous learning and growth. Share knowledge and insights generously with fellow members.
By adhering to this code of conduct, we can collectively build a community of responsible business leaders who contribute positively to society and inspire the next generation of entrepreneurs and leaders.
Endowment Fund
The Endowment Fund is established by Grand Founders as a pivotal component of the foundation's efforts to support its community members and allies, promote impact investments, and leave a lasting legacy for future generations. The fund operates as an investment platform with a specific focus on providing financial assistance to support the foundation's initiatives and the economic development of its target markets, with Ukraine being the initial focus.
Purpose and Objectives:
The primary purpose of the Endowment Fund is to create a sustainable source of financial support for the foundation's programs and activities. By accumulating and managing a pool of funds, the fund aims to generate returns that can be used to further the foundation's mission of promoting economic development and national security.
The objectives of the Endowment Fund include:
Financial Support:
The fund provides financial resources to support the initiatives and projects undertaken by the Grand Founders foundation. These resources are used to empower entrepreneurs, facilitate impact investments, and foster responsible leadership.
Legacy Building:
The fund represents a tangible legacy that the foundation aims to leave for future generations. By ensuring a continuous source of funding, the foundation can continue its mission and impact long into the future.
Attracting International Capital:
The fund seeks to attract international capital, particularly in its initial focus market of Ukraine. By showcasing a commitment to impactful investments and responsible business practices, the fund aims to attract investors interested in making a positive difference in the world.
Long-term Impact:
The Endowment Fund operates with a long-term perspective, focusing on sustainable investments that can have a lasting impact on economic development and national security in the foundation's target markets.
Investment Strategy:
The Endowment Fund's investment strategy is aligned with the foundation's mission and vision. It prioritizes impact investments, which are investments made with the intention of generating positive social or environmental effects alongside financial returns. These investments may include ventures, businesses, or projects that align with the foundation's values and contribute to the economic growth and stability of the target markets.
The fund's investment decisions are made with careful consideration of risk and return, aiming to balance financial sustainability with the desired positive social impact. It may diversify its investment portfolio across various sectors and geographies to reduce risk and optimize returns.
Governance and Oversight:
The Endowment Fund operates under a well-defined governance structure to ensure transparency, accountability, and efficient management. A dedicated team of professionals, including investment experts and financial advisors, oversee the fund's activities and investment decisions.
Engaging the Community:
Community engagement is crucial to the success of the Endowment Fund. The foundation encourages its community members and allies to participate actively in the fund's initiatives. Community members may also have the opportunity to contribute directly to the fund, further strengthening its impact.
Through the Endowment Fund, Grand Founders aims to create a sustainable source of financial support that aligns with its mission of promoting economic development, national security, and responsible leadership. By harnessing the power of impact investments, the fund seeks to leave a positive and lasting legacy for generations to come.
Human Capital Governance
Human Capital Governance at Grand Founders emphasizes the critical importance of effective onboarding, offboarding, and people management processes in creating a thriving and productive workplace. It is primarily managed by the Executive Leadership team, supported by the Operating Committee. Depending on the organization's size and structure, responsibilities may be shared between the Chief of Staff, CEO, and HR department. The Chief of Staff oversees onboarding and offboarding processes, policy development, employee engagement initiatives, performance tracking, employee development support, and communication. The CEO sets the company's culture and vision, makes final hiring decisions, aligns people management strategies with business goals, handles employee relations, and fosters a positive culture. Collaboration between the Chief of Staff, CEO, and HR is essential to ensure a seamless employee experience. The organization is committed to diversity, equity, inclusion, and belonging (DEIB), promoting a workplace where everyone feels valued and empowered to contribute. Human Capital Governance is governed by a People Management Policy and centered around the well-being and growth of employees, driving strategic decision-making and fostering a culture of innovation and collaboration.
Grand Founders Diversity, Equity, Inclusion, and Belonging (DEIB) Statement:
At Grand Founders, we firmly believe that fostering diversity, equity, inclusion, and a sense of belonging is not only a moral imperative but also essential to achieving our mission and upholding our core values. We are committed to creating a workplace that values and respects the unique backgrounds, experiences, and perspectives of every individual within our organization.
Our DEIB efforts are deeply integrated into our mission, culture, and policies. We recognize that diversity fuels innovation, enhances creativity, and drives better business outcomes. Therefore, we actively seek to create a diverse community where all individuals within and beyond Grand Founders, regardless of their race, ethnicity, gender, age, sexual orientation, abilities, or any other dimension of diversity, feel valued and empowered to contribute their best. We regularly assess our practices, policies, and culture to identify areas for improvement, celebrate successes, and hold ourselves accountable.
Our reporting mechanisms prioritize confidentiality and protection for those who come forward with concerns. We are resolute in addressing incidents of discrimination, harassment, or bias swiftly and appropriately, fostering a safe environment for all. These matters are overseen by the ethics subcommittee and security, legal, and compliance subcommittee.
In addition to internal efforts, we extend our commitment to DEIB beyond our organization. We actively seek partnerships with diverse suppliers and engage with communities to promote social justice and equality.
Grand Founders' DEIB journey is a continuous process, and we pledge to keep learning, adapting, and growing as we work towards building an inclusive workplace that reflects the richness of humanity. Together, we create an environment where each individual can thrive, belong, and contribute meaningfully to our collective success.
Corporate Structure and Corporate Governance
This Corporate Governance Policy outlines the structure and responsibilities of the governance bodies within the Grand Founders Foundation. The Foundation aims to promote effective governance practices to ensure transparency, accountability, and sound decision-making. The governance structure includes the Founding Leadership Council, Board of Directors, Advisory Board, and Executive Leadership.
Founding Leadership Council
The Founding Leadership Council, comprising nine esteemed members, plays a pivotal role as the guiding force behind the Grand Founders Foundation. Their primary responsibilities include overseeing the foundation's governance and ratifying the Grand Founders Constitution.
The Founding Leadership Council operates without designated officers or fixed leadership positions. Instead, the Founding Leadership Council appoints a Chair, Vice Chair, and Secretary for each meeting prior to its commencement. This approach ensures a dynamic and collaborative decision-making process within the council.
Voting of the Founding Leadership Council
The Founding Leadership Council shall conduct voting to make decisions on various matters related to the Grand Founders Foundation. The voting process within the Council shall be fair, transparent, and consistent with the principles of effective governance.
Voting Procedures
Decision-Making:
The Founding Leadership Council shall use voting as a means to reach consensus on important matters pertaining to the foundation's governance, human capital governance, and other significant decisions.
Voting Threshold:
Unless otherwise specified in this policy, decisions within the Founding Leadership Council shall be determined by a simple majority vote. A simple majority means that more than half of the permanent members must be in favor of a proposal for it to be approved.
Tie-Breaking:
In the event of a tie vote, the Chair of the Founding Leadership Council shall have the casting vote to break the tie and reach a decision.
Absentee Voting:
In exceptional circumstances where a member of the Founding Leadership Council cannot attend a meeting in person, they may be allowed to cast their vote through an absentee voting mechanism. The absentee vote shall be submitted in writing to the Council Members before the meeting takes place.
Electronic Voting:
The Founding Leadership Council may adopt special electronic solutions to facilitate voting remotely, ensuring accurate and secure recording of votes. Electronic voting options may be used for absentee voting or when physical presence is not feasible.
Confidentiality:
All voting records and discussions within the Founding Leadership Council, including electronic voting, shall be treated with strict confidentiality.
Agenda items may include, but are not limited to:
Ratification of the Grand Founders Constitution and any amendments thereto.
Selection or removal of members of the Founding Leadership Council.
Appointment new members of the Board of Directors.
Strategic decisions that impact the direction and mission of the Foundation.
Membership Removal Process
Initiation:
Any member of the Founding Leadership Council can raise concerns about the conduct or performance of another member. This concern should be submitted in writing to the Chair, Vice-Chair, or Secretary of the Board of Directors, who will then organize the vote.
Confidentiality:
The removal process must be treated with strict confidentiality, and only relevant parties involved in the process should be informed.
Voting:
A majority vote among the remaining members of the Founding Leadership Council will determine whether a member should be removed. The member facing potential removal will not participate in the vote.
Fair Process:
The member facing potential removal will have the opportunity to respond to the allegations before the vote takes place. The Council will consider all relevant information before making a decision.
Decision:
If the majority of the Founding Leadership Council votes in favor of removal, the affected member will be notified in writing by the Chair, Vice-Chair, or Secretary of the Board of Directors.
Transition:
In case of removal, the departing member may choose to transition to a role in the Board of Directors or Advisory Board, provided they are willing and eligible.
Replacements for Vacant Positions
If a member of the Founding Leadership Council is removed or resigns, a replacement will be appointed to fill the vacant position. The remaining members of the Founding Leadership Council will collectively determine the appointment process, taking into account the individual's qualifications, expertise, and alignment with the Foundation's mission and values.
Board of Directors
The Board of Directors is entrusted with the larger strategic direction of the foundation. It is composed of 9-15 members, with at least 25% of its composition consisting of members from the Founding Leadership Council. Additionally, at least 25% of the Board may comprise representatives from the Grand Founders Communities. The Board must also have at least one independent member, who is not affiliated with any of the aforementioned groups. Board members shall serve a term of three years.
Responsibilities
The Board of Directors holds ultimate responsibility for setting the strategic goals and direction of the Grand Founders Foundation. The Board of Directors should attend board meetings twice a year or upon request. Its key responsibilities include but are not limited to:
Strategy:
Approving the foundation's strategic objectives. Regularly reviewing and updating the strategic plan to align with the organization's goals.
Development:
Overseeing fundraising efforts, philanthropic partnerships, and other revenue-generating initiatives to support the Foundation's activities.
Staffing:
Appointing, evaluating, and compensating executive leadership, including the CEO. Ensuring the right talent is in place to execute the foundation's mission.
Investments:
Reviewing and approving investment policies, ensuring that the foundation's assets are managed prudently and in line with the organization's objectives.
Board of Directors Meetings
The Board of Directors shall hold regular meetings twice a year as a minimum requirement. Additional meetings may be convened as needed or upon the request of any Board member, the CEO, or the Chair. These meetings can be conducted either in person or through virtual means, depending on the circumstances and availability of the members.
Board members who are not members of the Founding Leadership Council shall sign an Agreement or Engagement Letter with the Grand Founders Foundation to formalize their commitment and responsibilities. The purpose of this agreement is to establish a clear understanding of the roles, expectations, and fiduciary duties of these Board members.
Voting
Voting during Board of Directors meetings shall be conducted in a fair and transparent manner. The following guidelines apply:
In-person Voting:
During physical meetings, voting shall be conducted through a show of hands or a voice vote unless a secret ballot is requested by any Board member or deemed necessary by the Chair to ensure confidentiality.
Virtual Voting:
For virtual meetings, voting may be conducted using special electronic solutions that provide secure and reliable voting mechanisms. The Board shall adopt and implement appropriate technologies to facilitate remote voting, ensuring each member's vote is accurately recorded.
Proxy Voting:
In cases where a Board member cannot attend a meeting, they may be allowed to cast their vote through a proxy. The proxy must be submitted in writing before the meeting and shall be valid only for the specific agenda items mentioned.
Majority Decision:
The outcome of a vote shall be determined by a simple majority of the members present or participating, unless specified otherwise in this policy.
Tie-Breaking:
In the event of a tie vote, the Chair shall have the casting vote to break the tie and reach a decision.
Abstentions:
Board members have the right to abstain from voting on any matter without providing a reason. Abstentions shall not be considered as votes either for or against the proposed action.
Confidentiality:
All voting records and discussions during Board meetings, whether in-person or virtual, shall be treated with strict confidentiality.
Board Officers
The Board of Directors shall elect the following officers from among its members with a term of 5 years:
Chair:
The Chair shall preside over Board meetings, ensure the Board functions effectively, and represent the foundation at official events.
Vice Chair:
The Vice Chair shall support the Chair and assume their responsibilities in their absence.
Treasurer:
The Treasurer shall oversee the financial matters of the foundation and present regular reports to the Board.
Secretary:
The Secretary shall be responsible for keeping accurate records of Board meetings and official communications.
Financial Compliance Officer:
The Financial Compliance Officer shall ensure the foundation complies with all financial regulations, reporting requirements and audit.
Legal Compliance Officer:
The Legal Compliance Officer shall oversee legal matters and ensure the foundation operates within the bounds of applicable laws, regulations and audit.
Membership Removal Process
Initiation:
Any member of the Board of Directors can raise concerns about the conduct or performance of another member. This concern should be submitted in writing to the Chair, Vice-Chair, or Secretary of the Board of Directors, who will then organize the vote.
Confidentiality:
The removal process must be treated with strict confidentiality, and only relevant parties involved in the process should be informed.
Voting:
A majority vote among the members of the Founding Leadership Council will determine whether a member should be removed. The member facing potential removal will not participate in the vote.
Fair Process:
The member facing potential removal will have the opportunity to respond to the allegations before the vote takes place. The Council will consider all relevant information before making a decision.
Decision:
If the majority of the Board of Directors votes in favor of removal, the affected member will be notified in writing by the Chair, Vice-Chair, or Secretary of the Board of Directors.
Transition:
In case of removal, the departing member may choose to transition to another role in the Foundation, provided they are willing and eligible.
Replacements for Vacant Positions
If a member of the Board of Directors is removed or resigns, a replacement will be appointed to fill the vacant position. The remaining members of the Board of Directors will collectively determine the appointment process, taking into account the individual's qualifications, expertise, and alignment with the Foundation's mission and values. New members of the Board of Directors is a subject of approval by the Founding Leadership Council.
Advisory Board
Appointment and Removal
Advisory Board members can be appointed and removed by either the CEO or any member of the Board of Directors (BoD). However, such appointments or removals must receive approval from at least two members of the BoD.
Role and Function
The Advisory Board will play a consultative role, providing valuable expertise and guidance to both the Board of Directors and Executive Leadership. They will act as a non-voting body and offer strategic insights and recommendations to assist in critical decision-making processes.
Appointment Duration
Members of the Advisory Board will initially be appointed for a term of one year. This term will serve as an evaluation period to assess their contributions and compatibility with the organization's objectives.
Term Extension
Upon completion of the first year, the terms of Advisory Board members will be automatically extended subject to review. The review process will consider the member's level of engagement, effectiveness, and alignment with the organization's vision and mission.
Term Limit
Members may serve on the Advisory Board for up to five years, inclusive of the initial one-year term and any subsequent extensions. After five years, the member will be eligible for reappointment after a cooling-off period of one year.
Diversity and Expertise
In appointing members to the Advisory Board, efforts will be made to ensure diverse representation and a balanced range of expertise that aligns with the organization's strategic priorities and challenges.
Advisory Board Meetings
The Advisory Board will convene at regular intervals to discuss matters pertaining to the organization's growth, challenges, and opportunities. Special meetings may also be called as needed, and virtual participation will be accommodated when necessary.
Confidentiality and Ethical Standards
Advisory Board members will be required to adhere to strict confidentiality guidelines and uphold the highest ethical standards in all their interactions and engagements with the organization.
Resignation and Removal
Advisory Board members may choose to resign at any time by providing written notice to the CEO or a designated representative. In case of any serious breach of ethical standards or disruptive behavior, the CEO or any members of the BoD or Executive Leadership may initiate the removal process, subject to approval from two members of the BoD.
Committees
Grand Founders has three main committees: the Steering Committee, the Operating Committee and the Compliance and Audit Committee.
Steering Committee
Membership:
5-9 members selected from the Board of Directors (BoD), Advisory Board, and Executive Leadership.
Term:
3 years.
Responsibilities
Supervising and overseeing significant expenditures for amounts above $10,000.
Approving joint ventures and any other financial strategic partnerships.
Approving any significant liabilities for amounts above $10,000.
Reviewing and managing any other significant investments and contributions above $10,000 that were not approved by the Board of Directors.
Commitment
The committee members are committed to supporting Grand Founders socially and professionally, while delivering outcomes and impact in the areas they are responsible for.
Operating Committee
Membership:
The committee is divided into five subcommittees, each consisting of 2-9 members selected from the Board of Directors, Advisory Board, and Executive Leadership.
Term:
3 years.
Responsibilities
Admin and Program Management Subcommittee: Striving for operational excellence, addressing troubleshooting, managing internal communications and coordination, and forming task forces when needed.
Marketing, Comms, PR, Events Subcommittee: Exploring new technologies and ideas, developing new programs, handling marketing and special events, and managing communications.
Capital Campaign Subcommittee: Focusing on fundraising efforts, development initiatives, and securing sponsorships.
Membership Subcommittee: Assessing and onboarding new members, establishing partnerships, and maintaining membership-related activities.
People Management Subcommittee: Assessing, onboarding, offboarding of new and existing employees, members of the Board of Directors, Advisory Board, Executive Leadership, volunteers, contractors and service providers.
Commitment
The members of the Operating Committee are committed to supporting Grand Founders socially and professionally, while delivering outcomes and impact in their respective areas of responsibility.
Risk Management, Compliance and Audit Committee
Membership:
The committee shall consist of 3-5 members selected from the Board of Directors, Advisory Board, and Executive Leadership, with a preference for individuals with expertise in risk management, finance, accounting, legal, or compliance matters.
Term:
3 years.
Responsibilities
Overseeing Compliance: The committee shall ensure that Grand Founders complies with all applicable laws, regulations, and internal policies. They will review and assess the organization's compliance efforts and recommend improvements when necessary.
Financial Auditing: The committee will be responsible for appointing an external auditing firm and overseeing financial audits of the organization. They will review audit reports, ensure accuracy in financial statements, and address any discrepancies.
Risk Management and Cybersecurity: The committee shall assess and monitor the organization's risk management strategies, including identifying potential risks and proposing risk mitigation measures.
Internal Controls: The committee will review and assess the effectiveness of the organization's internal controls to safeguard assets, prevent fraud, and ensure the accuracy of financial reporting. Ensuring ethical standards, conducting investigations, and promoting inclusion within the organization.
Whistleblower Program: The committee shall establish and oversee a confidential whistleblower program to enable employees and stakeholders to report any unethical or illegal practices within the organization.
Regulatory Compliance: The committee will ensure that Grand Founders adheres to all relevant regulatory requirements and reporting obligations.
Commitment
The members of the Compliance and Audit Committee are committed to upholding the highest standards of financial integrity, transparency, and compliance within Grand Founders.
Appointment, Resignation, and Removal
The Head of Committee or subcommittee can be appointed by CEO, Chief of Staff, CFO, Chair, Vice-Chair, or Secretary of the Board of Directors, subject to approval from two members of the BoD.
Committee and subcommittee members may be appointed by the head of committee or subcommittee.
Committee and subcommittee members may choose to resign at any time by providing written notice to the head of committee or subcommittee, CEO, or a designated representative.
In case of any serious breach of ethical standards or disruptive behavior, the CEO or any members of the BoD, BoA, and Executive Leadership may initiate the removal process, subject to approval from two members of Executive Leadership.
Risk Management, Cybersecurity, Compliance and Audit
Risk Management, Cybersecurity, Compliance, and Audit functions at Grand Founders are managed by the Risk Management, Compliance and Audit Committee and their team of dedicated professionals consisting of the Treasurer, Compliance Officers, General Counsel, and Chief Financial Officer (CFO), CISO.
Responsibilities
Overseeing Compliance
The committee shall ensure that Grand Founders complies with all applicable laws, regulations, and internal policies.
Regularly review and assess the organization's compliance efforts and recommend improvements when necessary.
Financial Auditing
The committee shall appoint an external auditing firm and oversee financial audits of the organization.
Review audit reports, ensure accuracy in financial statements, and address any discrepancies or issues identified during the auditing process.
Risk Management and Cybersecurity
Assess and monitor the organization's risk management strategies, including identifying potential risks and proposing risk mitigation measures.
Oversee cybersecurity measures to protect the organization's sensitive information and data.
Internal Controls
Review and assess the effectiveness of the organization's internal controls to safeguard assets, prevent fraud, and ensure the accuracy of financial reporting.
Conduct investigations, as necessary, to address any concerns related to internal controls or unethical practices.
Promote a culture of inclusion, diversity, and ethical standards within the organization.
Whistleblower Program
Establish and oversee a confidential whistleblower program that enables employees and stakeholders to report any unethical or illegal practices within the organization.
Ensure that all reports made through the whistleblower program are thoroughly and impartially investigated.
Regulatory Compliance
Ensure that Grand Founders adheres to all relevant regulatory requirements and reporting obligations.
Stay updated on changes in regulatory guidelines and ensure that necessary adjustments are made to maintain compliance.
Committee Meetings
The committee shall meet regularly, at least quarterly, or more frequently as required.
The committee chairperson shall preside over the meetings.
Minutes of each meeting shall be recorded and provided to the Board of Directors.
Reporting
The committee shall provide regular reports to the Board of Directors on its activities, findings, and recommendations.
The committee shall report any significant issues or findings that may impact the organization's financial integrity, compliance, or risk management.
Independence
The members of the Compliance and Audit Committee shall act independently and objectively in carrying out their responsibilities.
No member shall have any material financial or personal interest that could compromise their ability to act in the best interest of Grand Founders.
Confidentiality
Committee members shall maintain strict confidentiality regarding all matters discussed and reviewed during committee meetings.
Any disclosures of confidential information shall be in accordance with the organization's policies and applicable laws.
Authority
The Compliance and Audit Committee shall have access to all necessary resources, information, and personnel within the organization to fulfill its responsibilities.
The committee may seek external advice or assistance, as required, to carry out its duties.organization and its stakeholders.
Procedure for Adopting, Ratifying, and Amending the Constitution
The process for adopting and ratifying the constitution, as well as making amendments to it, requires approval from the Board of Directors and subsequent ratification by the Founding Leadership Council. Any proposed changes or amendments must be submitted to the Board of Directors by members of the Executive Team, BoD, or BoA.
To adopt and ratify the constitution:
Drafting:
The constitution is initially drafted by a designated committee or individuals responsible for its creation. They consider input from various stakeholders and experts to ensure a comprehensive and well-structured document.
Review:
The draft constitution undergoes a thorough review by legal experts and relevant parties to identify any potential issues or areas for improvement.
Approval by Board of Directors:
Once the initial draft is deemed satisfactory, it is presented to the Board of Directors for approval. The Board assesses its contents, ensuring it aligns with the organization's vision, values, and mission.
Ratification by Founding Leadership Council:
After receiving approval from the Board of Directors, the constitution is presented to the Founding Leadership Council for ratification. The Council evaluates the document and ensures it is in line with the organization's overall direction.
Adoption:
Upon ratification by the Founding Leadership Council, the constitution is officially adopted, and it becomes the governing document for the organization.
To amend the constitution:
Proposal:
Any member of the Executive Team, Board of Directors, or Board of Advisors can propose an amendment to the constitution. This proposal should be well-drafted, specifying the exact changes they wish to make.
Internal Review:
The proposed amendment undergoes an internal review process to assess its potential impact on the organization and its alignment with the organization's core principles.
Approval by Board of Directors:
The proposed amendment is then submitted to the Board of Directors for evaluation. The Board assesses its merits and implications before making a decision.
Ratification by Founding Leadership Council:
If approved by the Board of Directors, the proposed amendment is presented to the Founding Leadership Council for ratification. The Council evaluates its significance and ensures it aligns with the organization's long-term goals.
Stakeholder Input:
Depending on the significance of the proposed amendment, it may be subject to feedback and input from relevant stakeholders. Their perspectives are taken into account during the decision-making process.
Ratification:
Once ratified by the Founding Leadership Council, the amendment is incorporated into the constitution, and the updated version becomes the new governing document for the organization.