MISSION

The mission of the NYC Venture Philanthropy Fund (VPF) is to supply collective capital, technical skills and access to professional networks in support of emerging, entrepreneurial projects focused on tackling persistent social and economic problems in New York City.

THE GOALS OF VPF

1. Leverage organizational, social, and human capital by investing in high-impact projects.
2. Identify and support social entrepreneurial projects that offer executable impact to complex issues.
3. Provide opportunities for hands-on involvement in grant making and social investment.
4. Increase the awareness of members about persistent, complex issues worldwide and the emerging, effective solutions to tackle them.
5. Educate members about the power of collective philanthropy while encouraging a broader understanding of giving.
6. Incubate a network of leaders, thinkers and activists within the New York City area.
7. Support and grow an accessible forum for NYC community members that encourages philanthropic participation among a diverse among a diverse range of financial brackets.

The NYC-VPF will not discriminate based on geographical location within the five borough NYC area or topical relevancy. Rather, the purpose of this organization is to focus itself on providing an effective method for identifying under-funded, under-recognized projects or programs that embody an entrepreneurial spirit, promise high impact and greater effectivity for complex, persistent global issues.

NAME

The NYC Venture Philanthropy Fund (VPF) is the official name of the organization.

MEMBERSHIP

Membership in VPF is open to all people who wish to further the mission and goals of VPF through financial support and/or participation in its activities. Members shall be defined as those who annually complete a registration form, file it with VPF, and remain current on contribution commitments.

MEMBER CATEGORIES
There are three member categories:

1. Sponsor: Members who contribute more than the suggested annual contribution and who do not necessarily participate in meetings or voting.
2. Annual Member: Members who contribute at least the suggested annual contribution of $365.
3. Service: Members who donate their time and talents, in lieu of the full financial contribution, to accomplish the mission of VPF.

RESPONSIBILITIES OF MEMBERSHIP
Voting Members

• Attend the Annual Meeting to receive and review reports of the year’s work.
• Vote on matters regarding grant awards.
• Encourage other individuals to support and participate in the mission and goals of VPF.
• Honor financial commitments made to VPF.

Service Members

• Attend meetings of VPF and participate in activities supporting the organization.
• Encourage other individuals to support and participate in the mission and goals of VPF.
• Honor service and financial commitments made to VPF.

BENEFITS OF MEMBERSHIP

• Explore the meaning of giving differently with a community of like-minded individuals.
• Participation in an organization that is focusing its efforts on leading-edge projects and ideas affecting real global change.
• Input in the organization’s annual goals and grant criteria.
• Invitation to the Annual Meeting and other special programs.
• Network and collaborate with people of shared values.

CONTRIBUTIONS OF VOTING MEMBERS

• Voting Members shall contribute a minimum of $365 per year to be paid annually in one to four installments.
• Member and Service Members shall donate $10 per year, named the Annual Membership Fee, to assist with NYC-VPF operating costs.
• The Finance Sub-Committee will send contribution reminders by email.
• Only those Voting Members whose contributions are current shall be eligible to exercise voting privileges.
• Each Voting Member shall have one vote, regardless of the amount of any contribution in excess of the minimum amount specified.

ORGANIZATION/STRUCTURE

VPF will have an executive committee (called the Guidance Board), an Advisory Council and Committees.

Guidance Board

The Guidance Board will consist of no more than 6, but no less than 4, members of VPF. Each serving Guidance Board member shall be a Voting Member or Sponsor.

Responsibilities of the Guidance Board

• Provide the vision for VPF.
• Call and direct meetings.
• Supervise and/or manage the accounting of contributions and expenses of VPF, including the Endowment Fund.
• Record meeting minutes
• Communicate with VPF and the public about the organization when necessary.
• Annually review five grant proposal submissions as provided by the Grants Committee.
• Conduct all other necessary business of VPF.

Meetings and Organization of the Guidance Board

• The Guidance Board will meet at least 6 times a year, at such times as it shall determine but that shall permit it most effectively to carry out its responsibilities for VPF.
• The Guidance Circle may elect a Chair, Treasurer, Secretary of VPF or may choose to act as a committee of the whole.

Election of Guidance Board Members

• Candidates for membership to the Guidance Board will be nominated by Members and Service Members.
• A nominee must be a member of at least one (1) Committee.
• Nominees will be voted on by the entire membership at a mandatory annual meeting of the VPF membership, held in the fall.
• Those elected will begin serving December 1, following the mandatory annual meeting.
• Vote will be secret ballot.
• Voting Members not able to attend may vote by proxy vote.
• If a vacancy in the Guidance Board occurs mid-term, an interim member may be appointed by the remaining Guidance Board members to serve until the following election.

Terms of Service

• Guidance Board members will hold a one-year term.
• Former members of the Guidance Board may be reelected indefinitely.
• To provide initial stability to the organization, the original Guidance Board will hold their terms until December 2008. On December 1, 2008, by personal choice or by lottery, at least one position will be open for election for the 2008/9 term.

Advisory Council

The purpose of the VPF Advisory Council is to provide technical expertise to administration and procedures for effectively operating VPF. Motivation for participating in the committee stems from the desire to shape the VPF system policies in a fashion most beneficial to the organization and its grantees. As such, the Council operates in an advisory capacity only.

Advisory Committee Membership

• The Advisory Council shall have no limitation on membership size within reason.
• Advisory Council members will provide the following expertise: finance/accounting, human resources, marketing, sales, consulting, public relations and communication, law and general management.
• The Council shall elect a Chair whose term shall be two years.
• General members shall serve terms no less than two years.
• The Guidance Board reserves the right to separate an Advisory Council member from the organization.

Advisory Council Meetings

• The Committee shall hold quarterly meetings unless changed by vote. Additional meetings may be held if there are items of an urgent nature.
• It shall be decided at each meeting the time and place of the next meeting.

Committees

Committees and their representatives include, but are not limited to:

• Grants
• Public Relations/Communications
• Website
• Finance
• Donor/Membership development
• Others as needed

• All Committees must have a minimum of 3 persons.
• Each Committee may nominate and vote on a Chair to head the Committee.

Meetings

• The VPF will have quarterly general member meetings.
• Organizational Committees will determine the necessary number of annual meetings based on need and responsibilities.
• One mandatory Annual Meeting will occur in the fall in order to conduct election

Decision Making
Quorum

• A quorum for making binding decisions at Membership meetings will be 50% of all members.
• When by-laws are being amended or a member is being removed, quorum is 70% of all members.
• A majority vote will determine final decision.

Decision Making

• All decisions will be reached by a majority vote.
• Members can issue a proxy vote. However, a voting member can only hold one vote for themselves and one proxy vote. Non-voting Service Members cannot hold a proxy vote.
• Sponsors, Members and Service Members may participate fully in VPF forums.
• All decisions must be consistent with the mission statement and within the limitations set in the by-laws of VPF.

Administrative Expenses

• All administrative expenses will be covered by the Operating Fund.
• Member and Service Members shall donate $10 per year, named the Annual Membership Fee, to assist with VPF operating costs.
• Administrative expenses include, but are not limited to: materials for the purpose of printing, scanning and copying for VPF related activities; event related expenses; fundraising; and other expenses deemed appropriate by the Guidance Board.

Awarding of Grants

Organization and Responsibilities of Grant Sub-Committee

• The Grants Committee will have a minimum of three persons.
• Each Committee may nominate and vote on a Chair to head the committee.
• The Grants Committee will review the existing grants proposal procedure and make any necessary adjustments as necessary for the coming grant year.
• The Grants committee will be responsible for the review of all incoming proposals.
• The Grants Committee shall choose three proposals that best match the Mission Statement for VPF for general member voting.
• The Guidance Board has the authority to veto the inclusion of a proposal if the Board unanimously agrees that a proposal does not represent the interests of the organization.

Procedure of Awarding Grants

• The Grants Committee shall receive and review all incoming grants proposals.
• The Committee shall choose five proposals for the Guidance Board to review.
• The Guidance Board will review the five proposals to approve the inclusion of each into the Top 3.
• Grants Committee shall choose Top 3 to present to general membership at the mandatory annual meeting in the fall.
• General membership shall vote on winning proposal.

Criteria for Awarding Grants

The following topics/agencies will not be considered:

• Hospitals and medical facilities
• Political parties and/or their related activities
• Governmental organizations and agencies
• Religious entities or projects to promote religious ideology
• Endowment, capital projects and campaigns
• Intermediary funding agencies
• Projects that have a large percentage of endowment/funding/resources available for the purpose of carrying out the mission of the project.

Each proposal must include:

• Explicit illustration of the project/program’s alignment with VPF’s mission and vision.
• Specific timeline, including milestones of progress and achievement.
• Instructions for the way the funding will be used.
• The total current funding available for the given project/program and the donor/source of each instance within the total.
• The issue/topic the project/program will address.
• Why the grantee believes their project/program qualifies as unique, emerging, and entrepreneurial.
• Each year specific guidelines will be provided for potential grantees.

Operating Fund

• The Operating Fund will be for the purposes of completing necessary tasks for the effective functioning of VPF.
• Uses of the Fund may include: event planning, fundraising, membership drive, administrative tasks.
• Any expense exceeding $25.00 requires the approval of the Guidance Board.
• The Annual Membership Fee, provided by both Members and Service Members, will be applied to the Operating Fund.