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NAIW International Legacy Foundation – Revised Governance Structure

Saturday, September 12, 2020   (0 Comments)
Posted by: Beth Chitnis
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Updated Legacy Foundation Governance Structure | New Foundation Leadership Positions Available

The NAIW International Legacy Foundation, a 501(c)3 Insurance Trust, is dedicated to the development of educational programs for insurance professionals and is funded through generous tax-deductible financial contributions primarily from you, the IAIP member.

The support of the Legacy Foundation from the IAIP members continues to be impressively strong. With a goal of expanding the reach to audiences beyond IAIP, one of the steps was to reexamine the governance structure of the Foundation. When the Foundation was originally formed as the philanthropic arm of IAIP in 2006, the board of directors was the same between IAIP and the Legacy Foundation.  In 2015, the Legacy Foundation board approved an updated governance structure allowing for some cross-over in board members for consistency, but also the inclusion of Directors-At-Large. 

This year, the Legacy Foundation board has approved additional changes to continue to provide some cross-over between the two organizations but create opportunities for all board members to have a greater focus on the strategic direction of the Legacy Foundation. The two changes to the governance include the following:

1 | New Legacy Foundation Board of Directors Governance Structure
The new structure includes the following officers and directors:

Legacy Foundation Officers
  • Chair – to be elected from the membership of IAIP who meet the qualifications
  • Secretary-Treasurer – continues to be filled by the IAIP Vice President
Legacy Foundation Directors
  • 4 – Directors-At-Large, two-year terms
  • 1 – Director filled by a Regional Vice President
Positions available starting July 1, 2021 include the Legacy Foundation Chair, 2 Directors-At-Large and the Director position filled by a sitting IAIP Regional Vice President. If you are interested in applying for one of these positions, the Legacy Foundation Candidate Interest Form is due December 1, 2020.

2 | New Legacy Foundation Nominating Committee
Along with the update to the structure of the board, the process by which the proposed board candidates are selected has been updated as well. The Legacy Foundation board has approved the addition of a new Legacy Foundation Nominating Committee to focus solely on identifying the right individuals to serve on the Legacy Foundation board of directors.

Serving on the Nominating Committee is a minimal investment of your time with 2-3 meetings in January and February – but it has a lasting impact on the future of the Foundation.

To view additional details on the nomination process, term limits and responsibilities, read more.

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