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Parameters of the Fund

ARTICLE I – FUND NAME, ADDRESS, FISCAL YEAR, FUND ADMINISTRATOR/CUSTODIAN

1.1 Name… The name of the fund shall be the Kansas College Wrestling Fund.

1.2 Address … The principal office of the Kansas College Wrestling Fund shall be located at the address of the Principal Office of the United States of America Wrestling Association –Kansas, Incorporated.

1.3 Fiscal Year… The fiscal year of the Kansas College Wrestling Fund shall begin on the first day of September in each year and end on the last day of August each year.

1.4 Fund Administrator/Custodian…The Administrator/Custodian of the Kansas College Wrestling Fund shall be United States of America Wrestling Association –Kansas, Incorporated which will also be referred to as USAW-Kansas.

ARTICLE II – MISSION STATEMENT/OBJECTIVES

2.1 MISSION STATEMENT OF KANSAS COLLEGE WRESTLING FUND:
It is the mission of the Kansas College Wrestling Fund to provide financial support for Kansas colleges and universities with active college wrestling programs. This financial support to Kansas colleges and universities will help provide wrestling, academic and eventual career opportunities for student athlete wrestlers in the State of Kansas.

2.2 OBJECTIVES OF KANSAS COLLEGE WRESTLING FUND:

2.2.1… To provide opportunities for the Kansas wrestling community to support the Kansas College Wrestling Fund thru contributions of their time, talent and financial donations.
2.2.2…To invest in the future of Kansas collegiate wrestling programs by keeping a portion of the annual donations and earnings in the Kansas College Wrestling Fund.
2.2.3…To provide annual financial support to the Kansas colleges and universities with NCAA, NAIA or NJCAA wrestling programs for current tuition, books, and room & board expenses for their wrestling team student athletes or for the institution’s wrestling endowment fund per stipulations in the Memo of Understanding between the Kansas College Wrestling Fund and the individual institution accepting funding from the Kansas College Wrestling Fund (See 3.5.1 Memo of Understanding and Stipulations for Distributions).
2.2.4…To encourage interaction between the coaches and wrestlers of the Kansas college wrestling programs, the Kansas youth wrestling clubs and Kansas high school wrestling programs.

ARTICLE III – FUND ADMINISTRATOR/CUSTODIAN DUTIES

3.1 FINANCIAL ACCOUNTS…The Fund Administrator shall establish separate bank and/or investment brokerage accounts for the Fund’s assets.

3.2 RECEIPT OF MONEY AND OTHER DONATED ASSETS…The Fund Administrator will receive money and other donated assets into the Fund’s bank and/or brokerage accounts.

3.3 INVESTMENTS…The Fund Administrator shall invest the Kansas College Wrestling Fund Account assets in a fiduciary manner to maximize fund returns but at a prudent level of risk that allows the Kansas College Wrestling Fund to meet its short and long term obligations/objectives.

3.4 EXPENSES…The Fund Administrator will pay fund operating and administrative expenses that have been approved by the Kansas College Wrestling Fund Foundation Committee (Articles 4.1 & 4.4.2) from the Kansas College Wrestling Fund Account. Every check for all expenses and distributions must have two signatures, one from the USAW-Kansas Corporate Board of Directors Chairman and one from the Kansas College Wrestling Fund Foundation Committee Chairman or Vice-Chairman.

3.5 DISTRIBUTIONS…The Fund Administrator will make annual distributions from the Kansas College Wrestling Fund Account to the Kansas colleges and universities for their wrestling programs as detailed in Articles V. These payments are payable as soon as possible after the end of the fiscal year but no later than 120 days after the end of the fiscal year.

3.5.1 MEMO OF UNDERSTANDING AND STIPULATIONS FOR DISTRIBUTIONS…To be eligible for distributions a recipient institution must sign a Memo of Understanding with the Kansas College Wrestling Fund in which the institution will agree to either use the funds for current tuition, books, and room & board expenses for their wrestling team student athletes or for the institution’s wrestling endowment fund. If the institution decides to use the distribution for current tuition, books, and room & board expenses for their wrestling team student athletes, it must agree in the Memo of Understanding that it will not reduce its current or future wrestling budget funding due to the distribution that it will receive from the Kansas College Wrestling fund. If the institution chooses to receive its distribution as a contribution to its endowment fund and it ever decides to drop their wrestling program then it must agree in the Memo of Understanding to return to the Kansas College Wrestling Fund the entire amount of funding that it has received from the Kansas College Wrestling Fund.

3.6 ANNUAL ACCOUNTING/TAXES/AUDIT…The Fund Administrator will perform an annual fund accounting at the end of each fiscal year. The annual distributions to the Kansas colleges and universities with wrestling programs will be based on this final accounting of Fund Balance Sheet and Income Statement Items. The Fund Administrator shall be responsible for any tax reporting filing requirements for government agencies and individual donors. The Fund Administrator can contract with an outside accountant for the preparation of any tax returns or forms that need to be filed with government agencies or individual donors. If the USAW Corporate Board of Directors orders an audit of the Kansas College Wrestling Fund, the Fund Administrator shall engage a CPA firm to perform the audit and report the results to the USAW-Kansas Corporate Board and the Kansas College Wrestling Fund Foundation Committee (Article IV).

3.7 ADMINISTRATIVE FEES…The Fund Administrator shall be allowed to charge the Kansas College Wrestling Fund an annual administrative fee determined and approved by the Kansas College Wrestling Fund Foundation Committee (Article 4.4.2).

ARTICLE IV– KANSAS COLLEGE WRESTLING FUND FOUNDATION COMMITTEE

4.1 FORMATION OF COMMITTEE …The USAW Kansas Corporate Board of Directors shall approve a Kansas College Wrestling Fund Foundation Committee.

4.2 MEMBERS OF COMMITTEE…There will be a minimum of nine committee members on the Kansas College Wrestling Fund Foundation Committee recommended by the State Chairman of the USAW-Kansas and approved by the USAW-KS Corporate Board of Directors. A minimum of two of the Foundation Committee members will be current members of the USAW-KS Corporate Board of Directors, two at large Kansas wrestling community members, one representative from the Kansas Wrestling Coaches Association, two representatives from Kansas Community Colleges with wrestling programs, and two representatives from four year Kansas colleges or universities with wrestling programs. The initial committee can be set up on an interim basis per the appointment of the State Chairman of the USAW-KS Corporate Board of Directors subject to approval of the Corporate Board of Directors.

4.3 TERM OF COMMITTEE MEMBERS…The committee members shall serve two year terms. There is no limit on the number of terms served and terms can be consecutive. Terms will be staggered so that at least fifty percent of the committee members continue to serve.

4.4 DUTIES AND FUNCTION OF KANSAS COLLEGE WRESTLING FOUNDATION COMMITTEE…

4.4.1…The committee shall prepare an annual Marketing Plan Report that will be presented to the USAW-KS Corporate Board of Directors. This report will include the marketing efforts from most recent year and plans for the upcoming year.
4.4.2…The committee will prepare an annual budget of committee and fund expenses for the new fiscal year to be presented to the USAW-Kansas Corporate Board of Directors. The committee will approve all fund operating and administrative expenses.
4.4.3…The committee will prepare a report of the actual committee expenses for the most recent fiscal year to be presented to the USAW-Kansas Corporate Board of Directors.
4.4.4…The committee will develop and lead fundraising for the Kansas College Wrestling Fund.
4.4.5…The committee will meet at least two times a year at locations voted on and approved by the committee.
4.4.6…The committee will recommend changes to the Parameters of the Kansas College Wrestling Fund. These changes will take effect upon approval of the USAW-Kansas Corporate Board of Directors.

4.5 CHAIRMAN OF THE KANSAS COLLEGE WRESTLING FUND FOUNDATION COMMITTEE…The Chairman of the USAW-Kansas Corporate Board of Directors shall nominate a Chairman of the Kansas College Wrestling Foundation Committee. The Corporate Board of Directors of USAW-Kansas will approve the nomination.

4.5.1…The Chairman of the Kansas College Wrestling Fund Foundation Committee will present the annual reports to the USAW Kansas Corporate Board of Directors.
4.5.2…The Chairman of the Foundation Committee will preside over meetings and will give members notice of thirty days prior to meetings by mail or e-mail.
4.5.3…The Chairman of the Foundation Committee will call for votes of the Committee members on approval of the annual marketing plan, the annual budget plan and for any recommended changes to Fund Parameters.
4.5.4…The Chairman of the Foundation Committee shall appoint a Secretary who will be responsible for the maintenance and reporting of committee minutes and other committee files.
4.5.5…The Chairman of the Foundation Committee shall appoint a Vice Chairman who shall assume the duties of the Chairman if required.

4.6 QUORUM AND VOTING…A quorum of the Kansas College Wrestling Foundation Committee shall be the majority of its members but no less than five members including the Kansas College Wrestling Foundation Committee Chairman. All voting matters shall be decided by the majority vote of the committee members at the meeting. Each committee member shall be entitled to one vote except the Chairman. The Chairman of the Foundation Committee votes only in the event of a tie. The vote of the Chairman of the Foundation
Committee will decide tie committee votes. The Kansas College Wrestling Foundation Committee Chairman can choose to conduct voting and business by e-mail provided at least 75% of the committee members have voted. The members shall use the e-mail Reply to All response when using electronic voting. The Secretary will keep copies of all electronic voting replies and results.

4.7 VACANCIES…If a Foundation Committee member resigns or is unable to serve the Chairman of the Foundation Committee shall have the option to name a interim successor if there are less than the minimum of eight committee members after the vacancy. The interim successor must be approved by the USAW-Kansas Corporate Board of Directors.

ARTICLE V DISTRIBUTION ALLOCATIONS AND PAYMENTS TO KANSAS COLLEGE AND UNVERSITY WRESTLING PROGRAMS…

5.1 DISTRIBUTION ALLOCATION SHARES…All Kansas colleges and universities with NCAA, NAIA or NJCAA wrestling programs that will compete in the wrestling season following the end of the USAW Kansas fiscal year will be eligible to receive a distribution from the Kansas College Wrestling Fund subject to their agreement to the terms of the Memo of Understanding (3.5.1). Two year colleges (NJCAA wrestling programs) and four year colleges or universities (NCAA and NAIA wrestling programs) will receive equal distribution allocation shares.

5.2 DISTRIBUTION ANNUAL AMOUNT PAYABLE…50% of annual accrued donations to the Kansas College Wrestling Fund will be payable each year at the end of the USAW-KS fiscal year to the Kansas colleges and universities with wrestling programs per allocation shares as detailed in 5.1. In addition 10% of the accrued ending Kansas College Wrestling Fund Balance will be payable each year to the Kansas colleges and universities with NCAA, NAIA or NJCAA wrestling programs per allocation shares as detailed in 5.1. An example of the allocation shares and distribution payable amounts is attached.

5.3 INITIAL PERIOD DISTRBUTIONS PAYABLE…The initial period for the determination of distributions from the Kansas College wrestling Fund will be from the beginning date that the USAW-KS Corporate Board of Directors authorizes the Kansas College Wrestling Fund to August 31, 2012. At the end of any fiscal year there must be an accrued ending Kansas College Wrestling Fund Balance of at least $5,000 for the Articles 5.2 and 5.3 distributions payable to be calculated and paid.