a. Articles & Bylaws
The Foundation was established by the Articles of Organization filed
with the Internal Revenue Service (IRS). The Foundation is also
governed by a set of Bylaws. Finally, the Board of Directors
governs the Foundation by policies not inconsistent with the Articles
of Organization and the Bylaws and rules and regulations of the
IRS.
b. Board of Directors
The Cottle Foundation is governed by a Board of Directors. This Board is self-appointing. There are no administrative fees. There are no salary expenses. The members of the Board of Directors and the Trustee of the Foundation are unpaid volunteers. The principal amount of funds may be invested in certificates of deposit, long-term bonds, equities, secured loans, or other possible investments, none of which are permitted to benefit the members of the Board of Directors or the Trustee.
The Board of Directors and the Trustee will review the applicants’ credentials and financial needs and decide which students, if any, are to be awarded grants during each applicable academic semester and year. The Board’s evaluations are confidential.