There are three main components necessary to set up a Responsible Endowments Fund. The process of creating the fund takes between two days and a few weeks. Students are encouraged to spearhead the fund creation process, though they are required to do so with the support of the REC staff. Here’s what you’ll need:
Terms of the Fund: These terms will specify the demands of your campaign, a timeline by which the college must meet the demands in order to receive the funds, and a plan for where the money will be distributed if the demands are not met.
Fund Advisors: The fund advisors will establish an official fund agreement with Triskeles and are responsible for recommending the final outcome of the fund - whether the demands have been met or not and making the final recommendation to distribute the accumulated money. At least one fund advisor must be REC staff.
Organizing Plan: This plan will outline how the student campaign will organize community members to gather donations to the fund. The purpose of creating this plan is to ensure that students are strategically engaging their campaign supporters to make the REF project as successful as possible. Approval of the organizing plan and frequent check-ins with REC staff are required for campaigns that wish to establish an REF.