SOCIAL VENTURE PARTNERS CHICAGO（一）.docVIP

BY LAWS MEMBERSHIP The Saffron Circle is a group of multi-generational Asians committed to creating positive social change in the greater Boston Asian community. It is a member driven, donor advised fund that is by Asians, for Asians. At this time, membership with voting rights is limited to individuals only. Individuals who self-identify as Asian may join the Saffron Circle by making a $250 a year personal contribution (tax-deductible) for at least two consecutive years. Members may participate as much or as little in the funding process as they wish. Attendance at meetings and service on committees is encouraged, but not required. All members have equal voting rights. Each member is entitled to one vote on all matters concerning the governance and funding policies and decisions of the Saffron Circle. Matters requiring votes will pass if they receive they receive a simple majority (half of the votes + 1) of all votes cast in favor of the proposal. Votes are only valid if a quorum (2/3 of active members) votes. Votes may be cast in-person, or via email. Member voting rights are activated once one full year’s contribution of $250 has been received. If annual contribution is not fulfilled by the date of proposal review and voting, s/he will not be considered a voting member. Members will be notified no less than 2 weeks (14 days) prior to voting. In order create a fund that is accessible to the many different sectors of the Asian American community (youth, under- and unemployed, the elderly, etc.), Saffron Circle may at a later time revise the individual voting structure to a committee structure to enable broader, more equitable participation. FUNDING PRINCIPLES The Saffron Giving Circle will fund any nonprofit Asian organization or organization serving Asian populations. Non-Asian organizations will be funded only if their program specifically targets Asian populations. “Nonprofit” is defined as an organization with 501(c)(3) public charity exempt status fro