Resolution 48-06: Finances

Resolution 48-06: Finances
Proposed by:  Charles A. McCollum, PGIM ME, Stephen A. Balke, PGIM NM, Dustin T. Verity, PGIM HI

PDF of Full Proposal
PDF of Sponsor Statement
Before Text
After Text

STATEMENT OF THE SPONSORS FOR RESOLUTION 48-06

Background:   This is the result of a concerted effort to align the accounts, accounting, policies, and procedures of the General Grand Council:

The General Grand Council has had many changes over the past few years and is working to align the laws regarding finance to facilitate both optimized internal processes and transparency to the Craft.

As there is no legal entity for the “Corporate Foundation,” all references have been changed to create a “Program Fund.” As a “Fund,” it complies with the rules for a 501(c)10 organization and facilitates better and more transparent accounting.

As there was no definition of a “Life Membership Fund,” a definition has been added that establishes the fund within the bylaws and the metes and bounds of its management.

As date bound sections of the Bylaws contained items that were no longer germane, we removed those items that have subsequently been superseded.

As no fund was ever established, and the management of a Life Membership Memorial Fund would be time and cost prohibitive, we removed this “sub-fund” reference.

 

CHANGES

The following changes would be made to Sections 501 to 505:

Proposed to Read:

SECTION 501 FUNDS OF THE GENERAL GRAND COUNCIL

The Funds of the General Grand Council shall be:

  1. GENERAL FUND – The General Fund shall be maintained for the operation and maintenance of the General Grand Council under the supervision of the Board of Trustees, and shall consist of its Assets and Liabilities. This Fund shall receive all moneys thereafter paid to the General Grand Council, except those specifically designated for other funds.
  2. GENERAL GRAND COUNCIL CORPORATE FOUNDATION PROGRAM FUND– The Program Fund General Grand Council Corporate Foundation is established as a permanent endowment fund to assist the General Grand Council in meeting its operational expenses in perpetuity and shall also be maintained for the initialization and perpetuation of all benefit and self-funded programs of the General Grand Council.
    1. The Members of the Program Corporate Foundation Board shall consist of the three five (35) principal elected officers of the General Grand Council and consist of five (5) members in total plus up to four (4) appointed advisory members, three (3) of whom may be Past Illustrious Grand Masters. as follows:
      1. General Grand Master
      2. Deputy General Grand Master
      3. General Grand P.C.W.
      4. General Grand Treasurer
      5. General Grand Recorder
      6. Chairman of the Finance Committee advisory Board Member
      7. Up to Three (3) PGIM to be selected advisory Board Members by the Trustees for each Triennium. (Modified September 30, 2014)
    2. The Program Corporate Foundation Board shall hold Board meetings twice a year at such time and place as determined by the Program Corporate Foundation Board.
    3. The Program Corporate Foundation Board shall ensure that the Program Corporate Foundation funds designated for the principal corpus are invested in accordance with established policy, and establish and maintain procedures to ensure assure that the proper investment and use of the Program Corporate Foundation Funds are followed.
    4. Promotional proceeds funds identified as such shall be placed in the Program Corporate Foundation Fund and are to remain there as part of the permanent fund unless designated by the Program Board for use in furtherance of promotional activities and events. (Modified September 30, 2014).
    5. The General Grand Treasurer will invest the Program Corporate Foundation funds in accordance with the approved Investment Policy with the approval of the Program Corporate Foundation Board.
    6. The General Grand Treasurer Corporate Foundation Board shall file an annual report of finances and the actions of the Program Corporate Foundation Board which will be forwarded as a part of the General Grand Treasurers Triennial report.
  3. LIFE MEMBERSHIP FUND – The Life Membership Fund shall receive all funds designated as Life Membership for investment. Income from this Fund shall be used to offset the per capita of affiliated Grand Councils and Subordinate Councsils on a basis set by the Board of Trustees.

SECTION 502 FEES, DUES, ASSESSMENTS, etc.

All Fees, Per Capita, Dues, Assessments, etc. shall be calculated and paid in U.S. Currency.

  1. Dispensation to Form–
    1. Councils – The sum of fifty dollars ($50.00) for each Dispensation to create a subordinate Council
    2. Grand Councils -The sum of one hundred dollars ($100.00) for each Dispensation to create a Grand Council
  2. Charter –
    1. Councils – A Fee of seventy fifty dollars ($75.00) for issuance of an original Charter to a Subordinate Council
    2. Grand Councils – A Fee of one hundred fifty dollars ($150.00) for issuance of an original Charter to Grand Council
    3. Duplicate Charters – A fee of fifty dollars ($50.00) to reissue a Charter lost, destroyed or unusable
  3. Per Capita and Fees–
    1. Effective October 1, 2015 – The annual per capita dues assessed each Constituent Grand Council of the General Grand Council shall two dollars ($2.00) US for each Cryptic Mason or Royal and Select Master in good standing on their rolls as of the date of their Annual Grand Assembly, excepting those holding General Grand Council Life Memberships as defined in subsection D (below). (Modified September 30, 2014)  Effective October 1, 2016 – The annual per capita dues assessed each Constituent Grand Council of the General Grand Council shall two dollars and fifty cents ($2.50) US for each Cryptic Mason or Royal and Select Master in good standing on their rolls as of the usual lawful date of their Annual Grand Assembly or on the last day of their fiscal year, excepting those holding General Grand Council Life Memberships as defined in subsection D (below). (Modified September 30, 2014)
    2. Subordinate Council per capita – Each subordinate Council shall pay into the treasury of the General Grand Council five dollars ($5.00) US for each companion greeted therein, and two dollars and fifty cents ($2.50) US annually for each member, until such time as a Grand Council shall be regularly established in that State, District, Territory, or Country in which such Council is located., excepting those holding General Grand Council Life Memberships as defined in subsection D (below). (Modified September 30, 2014)
    3. Subordinate Council Degree Fees – Subordinate The fees in Councils under the immediate jurisdiction of this General Grand Council, for the Degrees of Royal Master, Select Master and the Super Excellent Master, shall require the payment of fees of not be less than twenty-five ($25.00) each for the Degrees of Royal Master, Select Master, and the Super Excellent Master. (Modified September 30, 2014)
  4. General Grand Council Life Memberships
    1. Any Cryptic Mason/Royal and Select Master, in good standing of a Constituent Grand Council or Subordinate Council, may become exempt from paying General Grand Council per capita by purchasing a non-voting Life Membership in the General Grand Council for each Council to which he belongs.
    2. Life Membership Fee – A Companion may submit an application for GGC Life Membership to the General Grand Recorder, or to his Grand Recorder, who in turn will forward the application to the General Grand Recorder, the sum of twenty-five times (x 25) the General Grand Council Per Capita applicable for their States, Districts, Territories or Countries at the time of purchase. (Reference Subsection C1, C2 – above) GGC Life Memberships do not carry any special preferences or voting privileges at the General Grand Assembly. New Life Membership Fees will become effective October 1, 2014, October 1, 2015, or one year before the effective date of any subsequently approved per capita increase. (Modified September 30, 2014)
      1. Additions to Life Memberships: Voluntary additions of funds to this Life Membership may be added at any time.
      2. Dispatch of Funds: All funds received by the General Grand Recorder shall be deposited in the Life Membership Fund General Grand Council Corporate Foundation.
      3. Funds Ownership: All funds deposited with the General Grand Council are the property of the General Grand Council and will be used to offset the Per Capita of the constituent Grand Councils.
      4. Not Refundable: The total purchase amount of this Life Membership, or the revenue derived from its investment, is non-refundable to the purchaser.
    3. The General Grand Recorder shall keep a permanent record of Cryptic Masons/ Royal and Select Masters with General Grand Council GGC Life Memberships.
    4. The General Grand Council will design and provide each life member with a one-time special membership certificate (receipt) designating his status with the General Grand Council.
    5. A Permanent Memorial Fund (PMF) shall be established for the investment of the funds from those life members who have lost good standing or died. The earnings of these funds shall be distributed according to the Investment and Distribution Policies of the General Grand Council.
    6. The purchase of a GGC Life Membership will take effect after the annual per capita is paid in full.
    7. Each constituent Grand Council may or may not adopt this Life Membership proposal.
    8. If a General Grand Council GGC Life Member transfers to another Council within his Grand Council or to another Grand Council’s Jurisdiction, he may take his Life Membership with him and the Grand Recorder(s) will inform the General Grand Recorder of his change in status.
    9. If a General Grand Council GGC Life Member is a Plural Member in his Jurisdiction, or Dual Member in another Grand Council Jurisdiction, his Life Membership is only effective good in each Council where he was a member when it was purchased. He may purchase General Grand Council GGC Life Memberships in all Councils where he is a member. However, Grand Councils to which he belongs will pay the per capita to the General Grand Recorder for each council where he doesn’t hold a Life Membership.
    10. Holders of a General Grand Council GGC Life Membership certificate are subject to all the laws, rules and regulations as provided in the code of any Grand Council Cryptic Masons or Royal and Select Masters and loss of membership by suspension or expulsion shall automatically abrogate his life membership and any claim to any portion of any such fees paid for such life membership.
    11. Any Council or individual may purchase a Permanent Memorial Life membership in the name of a deceased Companion for the sum of Twenty-five times (x 25) the General Grand Council per capita at the time of purchase provided that the Companion, in whose name the certificate is to be issued, was in good standing in a legally constituted Council at the time of his demise. A special membership certificate designating the Memorial Life membership for the deceased and the purchaser may be sent to the purchaser or the family of the deceased at the request of the purchaser.
    12. In the event of Upon the dissolution demise of the General Grand Council, all funds in the Life Membership Fund and the Permanent Memorial Fund will be returned to the various Affiliated Grand Councils or individuals of unaffiliated Grand Councils according to their contributions or to a Masonically-affiliated 501(c)3 or similar charity under the terms of the resolution of dissolution.

SECTION 503 REVENUES OF THE GENERAL GRAND COUNCIL

The revenues of the General Grand Council shall be:

  1. Fee, dues, and assessments as set forth in Subsection 502
  2. Any money or property given, devised, bequeathed or belonging to the General Grand Council and any income derived there from.
  3. Any and all monies or property whatsoever of which the General Grand Council has or may come into its possession.

SECTION 504 DISBURSEMENTS OF THE GENERAL GRAND COUNCIL

  1. Disbursement of funds of the General Grand Council greater than $1000.00 or for unbudgeted expenses shall be made only by Resolution order of the General Grand Council in Session or Order of the Board of Trustees of the General Grand Council.
  2. Forms of Claims – Each claim against the General Grand Council shall show each item included therein, and by whose authority the indebtedness was incurred.
  3. Form of Disbursements – Each check drawn by the General Grand Master, General Grand Treasurer, or General Grand Recorder shall show,
    1. Date of issueance
    2. To whom issued drawn
    3. For what amount issued
    4. By what authority issued
    5. Upon which fund drawn
  4. The General Grand Master, General Grand Treasurer and General Grand Recorder shall have administrative access to the records of all cash and investment accounts.

SECTION 505 SALARIES AND EXPENSES OF OFFICERS, MEMBERS AND COMMITTEES

  1. All salaries of staff hired by the General Grand Council shall be determined by the Trustees of the General Grand Council and paid monthly.
  2. Officers and Committee Reimbursement – General Grand Officers, Committee members, and Regional Deputies may shall be reimbursed for necessary expenses in accordance with the policy and procedures as established by the General Grand Board of Trustees, in a timely manner, subject to the budget and approval of the Trustees of General Grand Council, provided that the expenses are not paid by any other Masonic General or Grand Body for the same Period and/or event.