Dear Fund Trustees:

I previously wrote that I would propose an amendment to Bylaw 7D1. This is a description of the proposed change. Bylaw 7D1 currently reads:

VII. Meetings and Quorums.

D. Quorum

l. Trustees

For the purposes of considering any charter question (as defined below), two-thirds of the qualified Trustees shall constitute a quorum, provided that at least two Trustees must be personally present. For the purpose of considering any amendment to these By-laws, five Trustees shall constitute a quorum. For all other purposes, including the evaluation of organizations and the approval of contributions, four Trustees shall constitute a quorum.

The phrase “, provided that at least two Trustees must be personally present” for charter questions is obsolete now that the Board no longer has a primary meeting location. I propose that it be deleted. I also propose to change “two-thirds of the qualified Trustees” to “a majority of the qualified Trustees”, which is normally six.

Bylaw 7D1, when amended, should read:

VII. Meetings and Quorums.

D. Quorum

l. Trustees

For the purposes of considering any charter question (as defined below), two-thirds a majority of the qualified Trustees shall constitute a quorum, provided that at least two Trustees must be personally present. For the purpose of considering any amendment to these By-laws, five Trustees shall constitute a quorum. For all other purposes, including the evaluation of organizations and the approval of contributions, four Trustees shall constitute a quorum.

Respectfully submitted,

Robert McClenon

President

Wednesday, 3 December 2014