The Patten Group, Inc.
The Endowment Committee shall be in charge of and responsible for the endowment funds with full power to act in matters relating to the management, safety and security of said endowment, including but not limited to the investment and reinvestment of funds, decisions regarding diversification and the employment of consultants or investment advisors. The Endowment Committee may pool funds to maximize investment returns but shall account separately for all funds the use and application of which are restricted. The Endowment Committee shall select custodians of the endowment funds of the Foundation. The Endowment Committee may delegate investment decisions to investment managers only with the prior consent of the Board. The Endowment Committee shall meet at least quarterly and shall present reports to the Board at its regular meetings. The Executive Committee may delegate to the Endowment Committee responsibility for funds that are held by the Foundation but which are not part of the endowment.
- By-Laws of the University of Chattanooga Foundation, Article VI, Section 3