SCARC FOUNDATION BOARD OF TRUSTEES

"Never doubt that a small group of dedicated individuals can change the world....
Indeed, it's the only thing that ever has."
~ Margaret Mead ~

The SCARC Foundation Board of Trustees is committed to raising funds for SCARC, Inc. and SCARC Guardianship Services, Inc.  The SCARC Foundation's Fiscal Year commences July 1 and ends June 30.  All Trustees of the Foundation serve without salary or other compensation.  The Board of Trustees meet ten times a year and they discuss their upcoming fiscal year's budget at their May and June Board Meetings. 

OVERSIGHT
The CEO's of SCARC, Inc. and SCARC Guardianship Services, Inc. deliver presentations to the Foundation's Board of Trustees at the Foundation's May Board Meeting.  Each Executive provides the Foundation Board with a detailed grant request regarding their program and/or service needs for the upcoming fiscal year and each request is then reviewed and approved at the Foundation's June Board Meeting based upon funding that will be available through the budget of the SCARC Foundation, Inc.

FIDUCIARY RESPONSIBLITY
The Foundation Board of Trustees has delegated supervisory authority over its financial affairs to the Foundation's Investment and Finance Committee.  The Investment and Finance Committee is responsible for regularly reporting on invesments to the full Board.  All transactions and planning shall be viewed in light of the Prudent Investor Act principles.

The primary investment objective of the SCARC Foundation is to preserve and protect its assets, by selecting investments for each fund (Operating Reserves and Endowment Fund) appropriate to each fund's time horizon, liquidity needs, and risk tolerance.  Total return, as opposed to current income, is identified as the primary investment objective.

The Board of Trustees and the Finance Committee recognize the legal and moral contract it has with its donors, especially with respect to permanently restricted endowment gifts.  Accordingly, the Investment and Finance Committee shall only adopt investment policies that ensure donor stipulations are strictly adhered to and that protect corpus, in accordance with state law.

SCARC FOUNDATION BOARD OF TRUSTEES
Sean O'Rourke, CPA - Chairperson
Phillip Motyka - Vice Chairperson
Theodore Brennan - Secretary
George R. Frizzell, Sr. - Treasurer
Megan MacMullin Esq. - Past Chairperson

TRUSTEES
Raymond W. Cordts
Anthony Harnett
Carolyn B. Ottenbreit
Larry Marro
Michael Dolan
Heidi Weber
Richard C. Lecher, Ph.D 
Karen Newburgh, CPA - CFO
Linda McConville

DIRECTOR EMERITUS
James R. Drew
Raymond A. Hecht
Leonard T. Search
Emil S. Sorensen, Jr.

MORE INFORMATION
If you would like to contact Sean O'Rourke, Chairperson, you may also contact him at (973) 383-7442 ext. 261 or via Foundation Email.