INVESTMENT COMMITTEE JOB DESCRIPTION
The Investment Committee reports to the Board of Directors of the American Academy of Medical Acupuncture to make recommendations for the investment of Academy funds.
The Investment Committee shall be composed of the AAMA Treasurer, as chair, and at least two other Academy members.
- To oversee investments of the Academy's monies. The Board requires that an amount of at least 50% of the Annual Budget of the Academy be held in savings or investments to ensure financial stability of the Academy.
- To maximize safety of Academy funds.
- To maximize returns of investments of the Academy.
- Funds will be invested for Academy monies exceeding $100,000 Which, therefore, would not be protected by FDIC insurance.
- To minimize risk, the Investment Committee is directed to invest only In A++ rated funds,
- To diversify funds to minimize risk,, the Investment Committee will Allocate investment funds in a 1/3, 1/3, 1/3 ratio proportionally. Thus, no more than 1/3 of the Academy's financial holdings will be placed in any one fund.
- Certificates of Deposit (Cds) in conservative sound banks or secure Bonds may be used.
- Recommendations of Academy Volunteers informed by consultation with Financial Managers and other Medical Association Academies to inform the Investment Committee recommendations.
- The status of Academy investments will be reviewed quarterly by the Investment Committee members, or more frequently if necessitated by Financial conditions or AAMA need.