We as a board have been discussing what we as Alumni should do with the large sum of money that the Alumni has. This has been a many year discussion and we are finally ready to take the next step and decide the best way to use it, rather than letting it sit in an account and be devalued due to interest and inflation.
This money has been available to the Alumni through different means, such as the burning down of the hut and from memberships for almost 100 years. This money holds a giant legacy in our community, and the way we use it will not only hold great meaning for us, but also define who we want to be as Alumni. We have looked through the ideas you have all come up with and we are so happy to see so many creative initiatives. We of course cannot do them all, and we have taken a lot of time to go over these ideas to ensure they are sustainable, they fit under the fact that we are a not for profit, and that the money is used in a way that follows all of our core values. We as a board believe the best way to handle the money is to donate it to friends of IPC, another not for profit that will invest the money for us, and the dividends and capital gain will generate scholarships for future students to attend IPC so that we may grow our community even further. The details have not been completely worked out, and for the moment this is a proposal up for discussion at the GA. We will call an extra ordinary general assembly in one to two months time to have a proper vote on this proposal so people have time to think it over and make their best decision, as well as for the board and Friends of IPC to create the final details of the proposal. Here is the current general proposal:
The IPC Alumni board proposes that the General Assembly approves that IPC Alumni can issue a donation of 150.000 DKK to Friends of IPC under the condition that Friends of IPC accepts the following conditions:
1. The principal amount of 150.000 DKK shall be used only for investments made in accordance with the promotion of the UN Sustainable Development Goals and the core values of IPC.
2. Interest and dividends earned on the investment of the principal amount shall be made available for scholarships issued by Friends of IPC.
3. Other use of the principal amount as described in point 1 is to be submitted and approved by the IPC Alumni General Assembly.
The General Assembly authorizes the IPC Alumni board to approve the exact portfolio of investments as long as it respects the above principles. A prerequisite for this decision that the donation is not taxable by Danish law.
This means the Alumni will still have a say in the money and we have means of watching 0ver it and ensuring it is used in our best interests. This amount will leave the Alumni with about 90.000 DKK left for future projects and initiatives that are not scholarship based.
We hope you will take this time to think over the idea and what it will mean for future Alumni and IPC. Once again, we will have a discussion at the GA with the opportunity to present other proposals, and the final decision will be made in about one to two month’s time at an extraordinary assembly. Thank you all so much for taking the time to read this and for putting forth your ideas. We can’t wait to hear you thoughts at the General Assembly, so see you there!