AYI-Investment Club at the University of
Colorado
Constitution
Article
I: Name
Section
1. Name. AYI-Investment Club at the University of
Colorado in Boulder
Section
2. Affiliations. The AYI-Investment Club at the
University of Colorado is affiliated with the state nonprofit organization, The
Academy of Young Investors.
Section 1. Mission Statement. Knowledge is
power—we empower people through the dissemination of fiscal knowledge. The Academy of Young Investors’ primary
objective is to teach people how to invest wisely for the long-term. To facilitate the learning process, the club
utilizes a wide range of teaching products.
In addition, the club has access to logistical solutions that reduce the
initial costs of investing which act as “barriers of entry” to young investors.
Section 2. Purpose. The basic challenge our organization is trying to overcome is
that young people do not, for the most part, realize the importance of saving
or know how to make the most of their money.
The Standards in Economics Survey conducted by Louis Harris &
Associates discovered that, on average, high school students and adults do not understand basic
economics. The survey further stated, “High school students across
America receive an average grade of 48% for their understanding of the basic
economic concepts . . .[whereas] adults get a grade of 57% for their knowledge
of basic economics. Adults who have
completed college score dramatically higher than those who have not, with the
majority receiving a grade of C or better.
Working adults score higher than non-working adults, males score higher
than females, and whites score higher than blacks or Hispanics.” The communication of financial information
to the general population and certain groups is not happening—we have the tools
to educate any person who would like to start investing. We are actively arranging training seminars
in schools, universities, clubs, and community centers—especially in locations where
this information is not readily available.
People will greatly benefit from this service because they will be able
to plan for their financial future and pass their knowledge on to family
members and friends…starting a cycle of financial freedom through savings and
unearned income.
Section
1, Active Members. Active membership is open to
all University of Colorado students with the right to vote and be
appointed/elected to office.
Section
2. Associate Members. Associate membership is open
to faculty, alumni, and community, they may not vote or hold office.
Section
3. Alumni Members. Alumni membership is open to
former University of Colorado students who were members of the organization,
they may not vote or hold office.
Section
4. Membership Rules of Order. All members of the club will
comply with University rules and norms, including the anti-Discrimination
Statement. In addition, all members
will be expected to:
a)
Comply
with the state AYI Anti-Discrimination Statement:
“The Academy of Young Investors believes that equal opportunity is
important for the continuing success of our organization. In accordance with state, federal, and
municipal laws, this foundation intends to comply with these laws which
preclude discrimination because of race, disability, color, creed, religion,
gender, age, sexual orientation, national origin, ancestry, citizenship,
veteran status, or any other protected classification.”
b)
Have
an interest in educating themselves about financial management and options
c)
The
AYI Investment Club at the University of Colorado, in accordance with the University of Colorado policy, shall not deny
membership to any student on the basis of race, age, color, religion, national
origin, gender, disability, sexual orientation, veteran status or disability.
Section
5. Duties of Members. All members will be expected
to:
a)
Actively
educate themselves about financial management/options
b)
Attempt
to recruit others into the club
c)
Create
a welcoming and engaging community of learning
Section
6.1. Dues.
There
is no membership fee or dues required to be a member of the AYI-Investment Club
the University of Colorado.
Section 6.2. Voluntary Fees.
Fees
of $45 will be collected from any member wanting to voluntarily invest through
any of the AYI-Investment Club’s promotional investment incentives. These fees will help to cover learning
materials and administrative costs incurred by the club. Fees will be collected at the time an
individual commits to utilize any AYI learning tool or investment benefits.
Section
7. Removal of Members. Upon recognition of unlawful
behavior, behavior that does not positively represent the club or the
University, or behaviors/attitudes/comments that do not comply with the
Anti-Discrimination Statements, a student may be removed as a club member. Upon receipt of significant and valid
complaints and documentation, the following removal process will occur:
a)
The
member in question will be sent a letter that specifies negative
behaviors/attitudes/comments that do not align with the club. The letter will state that the process of
removal has begun. The member’s
presence will be requested at a removal hearing to occur seven or more days
after the letter is received.
b)
The people present at a removal hearing are
the president, vice president, treasurer, secretary, parties directly involved
with removal, at least two objective members, the member in question and
support for the member in question.
c)
If
the member in question does not attend the meeting, the removal procedure will
be completed at that time and the approval of the member in question will be
assumed.
d)
If
the member in question attends the meeting, s/he will be able to speak on
her/his own behalf.
e)
Following
the meeting, the president, vice president, treasurer, secretary, and objective
members will meet to discuss the situation.
They will decide if the member in question will be removed or will be
placed on temporary probation.
f)
If
the group decides to place a student on temporary probation, a student must
display behavior, attitudes and comments that support the positive role of the
club and align with all expectations described above. If applicable, they must write letters of apology and explanation
to those who have had cause to be offended by the student’s behavior, comments,
or attitudes. If the requirements of
this probation time are violated, the student will promptly be dismissed. The option to appeal is still open.
g)
If
the group decides that a student should be removed, the student will have a
chance to appeal the decision. In this
case, all members of the club will be given all proper information and asked to
vote on the outcome.
Article IV: Elected Officers
Section
1. Officers. The mandatory offices of the
organization are the President, Vice President, Secretary (Chief Administrative
Officer), and the Treasurer (Chief Investment Officer). The President, and only the President, may
create new offices to share the responsibilities described below or as needed.
Section
2. Duties of Officers.
a)
President:
·
Appoints
and defines additional offices as needed.
·
Maintains
communication and relationship with Club’s Advisor.
·
Educates
self about financial management/options in order to communicate with, educate,
and encourage other members.
·
Oversees
all club-related actions of Officers and members.
·
Attends
the majority (at least 4 out of 6) of meetings/seminars scheduled.
·
Resides
over removal hearings.
·
Makes
certain there will never be 100% Officer turnover.
o
There
must be at least one Officer who will not be graduating or leaving upon completion
of each semester.
·
Heads,
oversees, and is responsible for the Administrative Committee
o
The
Administrative Committee is responsible for the following:
·
The
creation of, updating of, and maintaining of the organization’s website.
·
Setting
up, maintaining, and responding to the organization’s e-mail account.
·
Responsible
for sending out University-Wide e-mail notices
b)
Vice President:
·
Educates
self about financial management/options in order to communicate with, educate,
and encourage other members.
·
Helps
advertise campus meetings/seminars.
·
Attends
the majority (at least 4 out of 6) scheduled meetings/seminars
·
Attends
and participates in removal hearings.
·
Heads,
oversees, and is responsible for the Recruitment Committee.
o
The
Recruitment Committee is responsible for the following:
·
Recruiting
·
Setting
up booth at Student Organizations Fair
·
Advertising
·
Informational
presentations
c)
Treasurer: (Chief Investment Officer)
·
Educates
self about financial management/options in order to communicate with, educate,
and encourage other members.
·
Organizes
and documents all financial transactions of club
·
Strictly
adheres to the finance guidelines and methods as described in Constitution,
Article VIII
·
Attends
the majority of meetings/seminars
·
Attends
and participates in removal hearings
·
Help
to advertise campus meetings/seminars
·
Heads,
oversees, and is responsible for the Finance Committee
o
The
Finance Committee is responsible for the following:
·
Seeking
sources of funding
·
Preparing
monthly, semester, and yearly budget.
·
Maintaining
records for the flow of club funds
d)
Secretary: (Chief Administrative Officer)
·
Educates
self about financial management/options in order to communicate with, educate,
and encourage other members.
·
Creating
and keeping an organized database of member’s information including but not
limited to:
o
Addresses
·
Mailing
·
E-mail
o
Telephone
numbers
·
Attends
the majority of meetings/seminars.
·
Attends
and participates in removal hearings.
·
Helps
advertise campus meetings/seminars.
·
Heads,
oversees, and is responsible for the Events and Planning Committee
o
The
Events and Planning Committee is responsible for the following:
·
Locating
and scheduling speakers and events.
·
Schedules
and organizes all seminars and meetings.
o
Including
office space in the UMC, and “Smart rooms” for regular club meetings.
e)
Other:
Will be appointed by and defined by president with the input of additional
members.
Section
3, Election of Officers. Candidates running for
office must be fee-paying students and have completed at least one
semester at the University of Colorado.
Candidates must also have been an active member of the AYI-Investment
Club at the University of Colorado for a minimum of one academic semester. This includes all summer sessions. If only one person is interested in an open
position, that person will be appointed to that position pending qualifications
at the sole discretion of the active President. If more than one person is interested in a position, each
candidate will have to present a resume of qualifications to the active
President, and go through an interview process with a panel of all
Officers. The Officers will then vote
on who they believe would most successfully fill the position. A majority vote of 3/4ths of
active Officers will be required.
Section
3 A. Election of Officers. If an officer is
unexpectedly unable to continue the duties of their office, the President will
appoint an interim Officer who will serve until a permanent replacement is
appointed. Elected Officers have the
right to their position for one full academic year, or a candidate wishes to
challenge them for that position.
However, the only position that cannot be challenged for is the
Presidency. There is no maximum term
length an Officer can hold his/her position.
Only the Founding President has the right to appoint officers at his
discretion. The Founding President and
Founding Officers, (not elected officers) have the right to maintain their
position/office until the time of their graduation or departure from the
university. Where after, the Founding
President, Matthew C. Loparco, reserves the right to amend any changes not
fitting to the original founding intentions of the AYI Investment Club at the
University of Colorado.
Section
4, Removal of Officers. See Article III, Section 7.
Section
1, Business Meetings. “Business Meetings” will
actually be in the form of educational seminars. Each meeting will cover various topics in the financial
realm. These will be held once every
week. The Secretary is responsible for
finding space, and scheduling these events.
Any formal business will also occur during this time (elections,
logistics, assignments, etc.).
Section
2, Executive Board Meetings. Occasional meetings will be
held between officers only or with representatives from the state
organization. These will occur as
needed and other members will be invited.
These may be requested by members, officers, or the state organization.
Section
1, Election. The term of the advisor is
indefinite. S/He will be approached by
a student or state representative and agree or disagree to be acting
advisor. If, at some point, more than
one qualified person would like to be the club advisor, elections will be held
using the same process as the officer elections.
Section
2, Qualifications. An advisor must fall under
the University of Colorado and S.O.F.O. guidelines for advisors (professor or
graduate student, graduate student must have written permission from his/her
academic advisor).
Section
3, Duties. The advisor may not vote,
but can offer advice to the organization.
This
constitution may and can only be amended by 3/4 ths vote of
Officers, and by 2/3 rds vote of active members. In order to vote on an amendment, voting
members and officers must be present at the time of the vote. Any Officer or voting member who is absent
at the time of voting, waives their right to vote, and thus, their vote will
not be counted.
Article
VIII, Financial Structure
Section
1. Establishing an Account with the
Student Organizations Finance Office.
(S.O.F.O.) The club will establish an
account with the student organization office at University of Colorado, which
will be referred to as “the club’s account.”
This account will be used to deposit receipts collected from fees, fund
raising events, and funds collected from the student government (A.S.S.G.) and
(S.O.C). This account will be used to
make all of the club’s payments. Club
must adhere to and follow all rules and guidelines of the Student Organizations
Finance Office.
Section
2. Accounting Methods. The Treasurer and Finance Committee will manage assets in the
club’s account. Invoicing outstanding
encumbrances against the club’s account is strictly forbidden. Vendors are not permitted to invoice payable
receipts against the club’s account.
The club will pay for items with available funds. The club’s account will not be in debt to a
third party. The club treasurer will
use Generally Accepted Accounting Principles (G.A.A.P) to maintain a strict
real-time account balance. The
AYI-Investment Club at the University of Colorado requires that within
following G.A.A.P regulations, that the Treasurer and Finance Committee use the
accounting system of First In, First Out (FIFO). This will include coding all transactions and reconciling the
club’s account on a monthly basis. The
account’s balance will be checked against the student organization office's
balance once a month for accuracy and a copy must be provided to the President,
Vice President, and Secretary of the AYI-Investment Club at the University of
Colorado. The AYI-Investment Club at
the University of Colorado must adhere to and follow all rules and guidelines
of the Student Organizations Finance Office and the University.
Section
3. Payments. Items will be purchased with available funds. The club is not allowed to purchase items on
credit. Only Appointed and Elected
Officers are authorized to make payments.
Prior to making payments the authorizing member must determine the real
time account balance (provided by the treasurer) to ensure the club’s account
has sufficient funds to fully cover the payment. The AYI-Investment Club at the University of Colorado must adhere
to and follow all rules and guidelines of the Student Organizations Finance
Office and the University.
Article IX: Bylaws
Section
1. Dues. Dues are not required for
membership. However, a fee of $45 will
be collected from any member wanting to voluntarily invest through any of our
clubs promotional investment incentives.
These fees will help to cover learning materials and administrative
costs incurred by the club. Fees will
be collected at the time an individual commits to utilize any AYI learning tool
or investment benefits. The Appointed
and Elected Officers are the only members allowed to increase or decrease the
amount of these fees. Changing the
amount of fees is done by the process of voting, whereby 4/4ths of
the Officers must agree.
Article X: Committees
Section
1. Committees. Currently, there are four
committees. Committees include the
Administrative Committee, Recruitment Committee, Finance Committee, and the
Events and Planning Committee. Each
committee is headed by and is the responsibility of an Elected Officer. The Administrative Committee is always
headed by the President of the AYI-Investment Club at the University of
Colorado. The Recruitment Committee is
always headed by the Vice President of the AYI-Investment Club at the
University of Colorado. The Finance
Committee is always headed by the Treasurer of the AYI-Investment Club at the
University of Colorado. The Events and
Planning Committee is always headed by the Secretary of the AYI-Investment Club
at the University of Colorado. The Head
of each committee is responsible for appointing members to their own
committee. New Committees can be added
at anytime. This is done by the process
of voting. There needs to be 1/2 Officers
vote, and 2/3 rds member votes for a decision. Committee responsibilities are listed in
Article 4, Section 2 under Duties of Officers.
This constitution was developed on July 1, 2002
for the newly established student organization, AYI-Investment Club at
University of Colorado. This
organization and members will support all articles and sections described. By signing this Constitution, you hereby
agree to all mentioned above. You also
agree to all state, local, and University of Colorado rules and
regulations. By not adhering to any part
of this constitution, your membership to the AYI-Investment Club at the University
of Colorado may be revoked. By not
adhering to all state, and local laws, you may be subject to legal and or
criminal prosecution.
Founding President’s Printed Name Founding President’s
Signature Date
President’s
Printed Name President’s
Signature Date
Vice
President’s Printed Name Vice
President’s Signature Date
Treasurer’s
Printed Name Treasurer’s
Signature Date
Secretary’s
Printed Name Secretary’s
Signature Date