1. Donations and Fundraising Framework

The endowment fund is a combination of many funds that serve the stated purpose and respect the donor conditions if attached to a particular donation. The Foundation will allow donations from alumni as well as non-alumni in three categories as stated below. All donations shall be maintained, accumulated and invested in Canada by third-party professionals as determined by the governing board and only an estimated Return on Investments (ROI) shall be budgeted each year for foundation’s target projects and in line with the foundation objectives.

a. Restricted fund: Funds that can only be invested in perpetuity, estimated ROI is budgeted.
b. Donor Advised Fund: Funds that have a donor Advised /Defined /specified use.
c. Unrestricted fund: Funds that are unrestricted for use if so indicated by Donor.

All disbursements of the Foundations shall be entirely in line with stated objective and through official regulate channels that conform to Provincial and Federal laws.

2. Membership

a. Membership Eligibility: Engineering degree holders are eligible for foundation membership in categories as listed here. Only graduates of the University of Engineering and Technology Lahore and affiliates are eligible for Full and Lifetime Membership. Both are eligible to vote in elections and be elected to the Board of Directors of the Foundation.
    i. Associate Member on payment of $20 annual membership fee.
   ii. Full Member on payment of $100 annual fee annually and will have the rights to elect and to be elected to the Board of Directors.
    iii.Lifetime Member on one-time $500 payment or above donation in any single calendar year with rights to vote and be elected to the Foundation Board. Lifetime membership continues without requiring further annual dues.
b. Member Resignation and Termination Any member may resign by filing a written resignation with the secretary at any time. A Board member may be terminated from his position on written notice of alleged violations of responsibility. The Board will provide an opportunity for a response on termination. Resignation or termination of membership shall not relieve a member of unpaid dues, or other charges previously accrued.

3. Foundation General Body

a. Composition of General Body
    i. Voting Members and Lifetime Members constitute the General Body of the Foundation.
b. Functions of General Body
    i. Shall receive the annual report and the audited financial statement of the Foundation through emails or other effective ways    ii. Shall elect the Foundation Board as stated here in these bylaws.
c. Meetings of General Body
    i. Meetings of the General Body are referred to as the General Assembly.
    ii. Regular meetings of the General Assembly shall be held annually at such time and place as the Board may determine. Special meetings of the General Assembly may be called by the
chairman of the Board upon written request by the majority of all members of the Board or upon written request by twenty (20) percent of all voting members in good standing. Quorum for
General Assembly is not less than one-third of total number of voting members.
    iii. As a matter of routine practice, the voting at General Assembly shall be by voice vote. No roll call shall be taken on any question, except, if requested by one-third of all qualified members present and voting.
    iv. Meetings of the General Assembly shall be conducted in accordance with standard parliamentary procedures.
    v. Notice of each meeting shall be given to each voting member, by mail or email not less than two
weeks prior to the meeting.

4. Foundation Board of Directors

The affairs of the Foundation shall be governed by its Board of Directors. The Board shall have control of and be responsible for the management of the property/assets of the foundation.

a. The Foundation Board shall consist of no fewer than 3 and no more than 11 members, elected for a term of three (3) years with a maximum of two consecutive terms. They will come through a process of elections or appointments approved by the Board. Board members from a single UET batch will generally, but not necessarily, be limited to a maximum of two (2) at any given time. Officers of the Board shall be President, Vice President, Secretary, and Treasurer. Secretary and Treasurer positions may be held by the same person as Secretary/Treasurer.
b. The President of the Board shall be elected by the majority of the full Board of Director for a term of three (3) years. The President shall preside at all meetings of the Board and have all powers and duties incident to such office. The President shall conduct and have charge of the affairs of the Endowment Fund subject to approval of the Board. The President at each meeting of the Board shall provide a summary of actions taken since last board meeting. Vice President shall act as President in the absence of the President. Secretary will be responsible for maintaining all records of the Foundation including, but not limited to, all minutes of the Board and General Body meetings, and sending out notices. Treasurer shall be responsible for all financial transactions, as duly approved and maintain corresponding records.
c. The Board with the concurrence of 3/4 of the present members at the board meeting but not less than 2, may remove any member of the Board and elect a successor for the remaining un-expired term. No director shall be removed without an opportunity to be heard and notice of such motion shall be given to the member in writing twenty (20) days prior to the meeting at which motion shall be presented, setting forth the reasons of the Board for such action. Any of the following, if proven, will constitute a reason for such expulsions:

i. Utilization of the funds or assets on personal use or promotion.
j. Transfer of dividend or profit to members or relatives.
k. Involved in any illegal, un-authorized or unethical activity.
l. Any acts of cartelization, grouping or acts against the interest of the Foundation.
m. Management in a manner to benefit personally or families.
n. Propagation of view of political party, hate or religious sect.
o. Unsatisfactory performance report by Independent Certification Agency
d. In the event of a vacancy due to the death, resignation, or inability to serve by a member of the Board, the Board will elect a person to fill the unexpired term.
e. For appointment to the Board, consideration will be given to individuals who have experience/expertise in, (a) bring special skills or talents to the Foundation, (b) have established an endowment or experience managing a large organization, (c) have experience in fund raisingfor the endowment or elsewhere, and (d) with primary responsibilities, investment and making
prudent spending choices for strengthening the endowment fund.

5. Founding Board

Initially 3 to 5-member founding board from the UET Alumni shall hold the position for a term of three 3 years. To maintain continuity and diversity of board, (3) new board members shall be elected each year to have eleven (11) member board, thereafter (1/3) board members, rounded to the nearest integer, shall be elected each year to replace the outgoing members.

6. Foundation Advisory Board

An Advisory Board of min 3 and maximum 15 members shall be constituted, whose members shall be from Alumni as well as non- alumni of repute and significance, that can bring value to the Foundation and its purpose. A minimum of (3) voting members can propose a name for Advisory Board in writing and shall be appointed with at least two-third majority of the Board, for a term of three (3) years, limited to a maximum two (2) consecutive terms. Advisory board shall elect a chair by majority vote. and shall actively support the Foundation in fund raising, R&D and technology transfer initiatives and shall meet at least once each year on a fixed date each year with a minimum of 50% members present. The Foundation policy decisions shall be made by the Board of Directors (BOD), the advice of the Board of Advisors (BOA) shall not be binding but shall be considered meaningfully and be seen as considered meaningfully. All members of the Board or the Advisory Board, shall be voluntary and no compensation for their time admissible except reasonable travel costs in the interest of endowment.

7. Amendments

a. Any amendment that changes the intent or the structure of the foundation is not permitted.
b. Amendments to these Bylaws except as stated in Article X a, may be made at any regular or special meeting of the General Assembly by a two-thirds vote of members present and voting, provided a quorum is established. Notwithstanding this provision, the Board of Directors may at its sole discretion choose to present amendments to the General Assembly via secured postal or electronic mail ballots.
c. An amendment to these Bylaws may be initiated in writing by the Board or by a minimum of 20% of voting members in good standing at least ninety (90) days prior to the date for the convening of a regular or special meeting of the General Assembly or the postal or electronic mailing of proposed amendments to be voted on.
d. The Board shall transmit the proposed amendment(s), with its own recommendations thereon, to all members in good standing at least sixty (60) days prior to the date for the convening of a regular or special meeting of the General Assembly. An affirmative vote by 2/3 majority of members voting shall be required for an amendment to pass.

8. Board of Directors Meeting

a. Regular Meeting
The Board shall hold a minimum of two regular meetings during each calendar year. Such meetings shall be held in September and March or as approved by the Board to facilitate maximum participation, physical or virtual.
b. Special Meeting
Special meetings of the Board may be called by or at the request of the Chair or any two members of the Board in writing. The person or persons authorized to call special meetings of the Board may fix any location, as the place for holding any special meeting of the Board.
c. Quorum
A minimum 2/3 members of the Board in office immediately before a meeting begins, shall constitute a quorum for the transaction of business. Also, a quorum can be achieved by 2/3 members of the Board if the meeting is held by video- conference.
d. Actions Between Regular Meetings

Between regular meetings of the Board, routine matters of business may be dealt with by written ballot and without a meeting if such is deemed appropriate by the President. Any action taken by this method must be reported to the Board at its next regular meeting.

9. Foundation Officers

The Foundation, in addition to the elected offices as President, Vice President, Secretary, and Treasurer, the foundation will consider appointing an Executive Administrator who will have a full-time responsibility to advance and organize the Foundation activities and day-to-day operations with policies and procedures as set by the Board. No compensation for time is admissible to elected officers except the appointed Executive Administrator and any staff as approved by the Board.

a. Fund Raising Consultant – Board with the advice of its BOA shall select a professional fund raiser on terms to be agreed and decided by board to assist in fund raising across North America.
b. Treasurer – The treasurer will be appointed by the Board and will maintain bank accounts of the Foundation and assist board in accounting maters
c. Operational Safeguards – The Board will establish operational processes with detailed roles and responsibilities of the officers and to ensure no single person can authorize crucial activities on the behalf of the Foundation, including operating of bank accounts and
management of investments.

10. Foundation Headquarter

The Foundation Headquarter shall be the permanent operational office as determined by the board, and staffed by volunteer personnel or as decided by the board.

11. Conflict of Interest

Each member of the Board and office personnel shall sign a conflict-of-interest agreement. Any transactions in which a board member or officer has a direct or indirect interest must be documented, authorized, pre-approved, or ratified in good faith by the Board who have no direct or indirect interest in the transaction; provided, however, no such transaction shall be authorized, approved, or ratified without the 2/3 majority of board present.
For purposes of this Section, an officer or board member has an indirect interest in a transaction
if: Another entity in which he/she or any direct relative has a material financial interest or in which he is a general partner, is a party to the transaction; or Another entity of which he is a director, officer, or trustee is a party to the transaction and the transaction is or should be considered by the Board.

12. Powers and Duties

By reference herein, the Board “Endowment Funds” and the powers and duties contained therein, including but not limited to:
a. Acceptance of gifts, donations, and bequests
b. Disposal of property, real or personal, of the Endowment Fund
c. Prudent investment of the endowed funds
d. Appointment of a fiscal agent or agents
e. Expend principal and income in strict accordance with as stated in the bylaws, devise, or bequest.
f. Establish a prudent endowment spending policy.
g. An annual audit report of funds by a qualified accountant is mandatory and must be shared with all the stakeholders.

13. Special Stipulations

a. Foundation shall be established as a not for profit, under the Federal laws of Canada and all its activities shall be entirely in conformance with the Federal and Provincial Laws.
b. All donor funds shall be, accumulated, held and invested in North America by third party professionals as approved by the board but investment decisions not influenced by board / board members.
c. Only an estimated ROI each year shall be budgeted for foundation activities, unless advised otherwise by a particular donor for a specific use that takes the precedence. All Funds shall be protected against bankruptcy.
d. Endowment fund shall facilitate, protect and ensure the special purpose /named donations by individuals or institutions, and respect donors’ specific use instructions if these do not conflict with stated foundation goals.
e. In case of any disagreement on interpretations of the bylaws or stated goals, interpretation of a combined minimum 75% majority of the Board shall survive.
f. If an extremely extraneous circumstances demand, a draw on restricted fund in excess of an estimated ROI, can be made only once in 5 years provided such a draw does not exceed the 50% of the growth of principal in the preceding 5 years, however such draws are only to support the stated goals of the endowment fund and are subject to approval by 2/3 of the full strength of the board.

14. Dissolution

The Foundation is protected against bankruptcies. Upon the dissolution of the Foundation, the Board shall, after paying or making provisions for the payment of all liabilities of the Foundation incurred, dispose of all the assets of the Foundation exclusively in line with the purpose for of the Foundation, and transfer remaining balance to only to one or more those eligible to receive it according Canada Revenue Agency (CRA) regulations.