According to the Bylaws of Dharma Civilization Foundation, any person who has contributed to and/or raised from other donors for the Corporation an amount not less than a sum of Two Hundred Fifty Thousand Dollars within a three year period, shall be designated a “Governor”. Such a designation shall be valid for a period of three years, until superseded by a subsequent contribution equivalent to or greater than the same amount. The Governors, collectively designated as the Council of Governors, shall be non-voting members of the Corporation and have the powers described in this Article or asrequired by law.
Also, as per the Bylaws, a Board of Governors shall be constituted, consisting of a minimum of 5 and a maximum of 15 Governors, elected by majority vote of the Council of Governors. If there are fifteen (15) or fewer Governors, all the Governors may choose to serve on the Board of Governors. In the event that there are more than fifteen (15) Governors, then the Governors shall, by majority vote, select fifteen (15) persons from among their ranks who shall serve as the Board of Governors. The members of the Board of Governors serving from time to time shall be voting members of the Corporation, and shall have the powers and duties described in this Article or required by law.
The current list of qualified Governors of Dharma Civilization Foundation are as follows:
- Dr. Manohar Shinde, MD, Ph.D., Psychology
The current list of members of the Board of Governors of Dharma Civilization Foundation are as follows:
- None – The Board of Governors has not been constituted, as there are fewer than 5 eligible Governors.
- Until such time the Board of Governors is constituted and functioning, the powers of the Board of Governors will continue to rest with the Board of Trustees.
The Powers and Duties of the Board of Governors
The Board of Governors shall have the following powers and duties:
- The Board of Governors shall review the annual budget for the Corporation proposed by the Board of Trustees, and provide their assent to the budget after seeking any clarifications and amendments as they deem necessary. The budget of the corporation is considered formally adopted only after it has been voted on by the Board of Trustees and the Board of Governors, independently.
- The Board of Governors shall create strategies and plans for the advancement of the Corporation, either directly or in partnership with the Board of Trustees through joint Committee, and actively participate in funds development for the Corporation’s charitable purpose.
- The Board of Governors may choose to participate in the management of the corporation’s finances through joint committee with the Board of Trustees. They may participate in decisions related to the review, approval and oversight of the investment policies and decision pertaining to the assets of the Corporation, through joint committee. They may recommend appropriate investment advisors and managers, monitor such investments, recommending such changes as they deem appropriate and in the best interests of the Corporation, and to otherwise exercise a governance oversight over the investments of the Corporation, all through joint committee.
- The Board of Governors may choose to participate in the plans and decisions to borrow money and incur indebtedness on behalf of the Corporation, through joint committee with the Board of Trustees. They may exercise oversight over all promissory notes, bonds, debentures, deeds of trust, mortgages, pledges, hypothecations, and other evidences of debt and securities executed and delivered for the Corporation’s purposes, in the corporate name, all through joint committee.
- The Board of Governors shall provide their assent for all expenditures and gifts in excess of the Minimum Governor Threshold proposed by the Board of Trustees. Any expenditure item in excess of the Minimum Governor Threshold may be made only after it has been voted on by both the Board of Trustees and the Board of Governors independently.
- While the powers to constitute committees rests primarily with the Board of Trustees, (See Article V and VI), the members of the Board of Governors, may be invited to participate in certain committees by the Board of Trustees, and alternately may also request to be included in certain committees. The participation of members from the two Boards, in such joint committees will be determined through consultations between their respective Chairmen or their designees.
Notwithstanding the foregoing, in the event there is no Board of Governors, then the Board of Trustees shall have the powers and duties reserved to the Board of Governors until such time as the Board of Governors is formed and its officers are elected and serving.