Terms of Reference

This is the updated Terms of Reference of the Professor Erik Holst Fund (last update August 2014).

Terms of Reference of the Prof. Erik Holst Fund (v. 2.0.)

Vision
The Prof. Erik Holst Fund (PEHF) was established by the IFMSA alumni at the 60 th
anniversary of the IFMSA in Copenhagen 2011. By contributing time and
donations, the PEHF hope to be able to help the work of the IFMSA and invest in
the future generations of the IFMSA.

Mission
The PEHF has two key focus areas:
Firstly, travel grants to attend IFMSA General Assemblies. Many students cannot
attend the GA because of financial limitations. The excitement and inspiration of
these conferences is therefore closed off to them. The AJF wants to give these
students an opportunity, which in turn will increase interest for General Assembly
participation worldwide.
Secondly, funding the work of local IFMSA chapters. The IFMSA has been
fortunate in having an exciting array of interactive projects, organized by local
members. However, volunteering can only go so far, so even small grants may
make the difference in a project’s success.

§ 1 Name, legal form and legal domicile
The Fund bears the name Prof. Erik Holst Fund. It is based at IFMSA Headquarters
with the WMA in Ferney Voltaire, France. The PEHF is non-profit in nature and
does not pursue purposes aimed at its own economic advantage.

§ 2 Purpose of the Fund
The aim of the PEHF is to provide:
1) IFMSA GA Travel grants – Awarded to promising first‐time GA attendees from
any current or prospective IFMSA member country. The award will recognize the
contributions the students have made at a local level and their potential to
contribute to the activities of the IFMSA.
2) IFMSA Local Project Micro‐Grants – Small grants to local chapters of any IFMSA
national member organisation (NMO) for projects that may become successful
long‐term traditions.
Grants will be awarded to local chapters based on the innovative character,
quality, and potential impact of the proposed project.

§ 3 The Fund’s assets
1. The PEHF fulfill its purpose a) using revenue arising from its assets and b) from
contributions
2. PEHF’s funds may be used only for the purpose of the PEHF as defined in the
Terms of Reference. Reserves as permitted by the Tax Code shall be built to let
the PEHF fulfill its long-term purpose as set out in the Terms of Reference.

§ 4 The structure of the Fund
The decision making organ of the PEHF is the Board of Directors.
Board of Directors
1. The Board of Directors shall consist of at least five but not more than seven
persons. The members of the first Board of Directors were appointed by the
Founders, i.e. the IFMSA Alumni present at the IFMSA AM 2011 conference in
Copenhagen, Denmark. The current IFMSA Alumni Support Division Director is ex
officio member of the Board.
2. The period of office of a member of the Board of Directors expires two years
after the date of appointment or upon resigning, which is allowed at any time. Re-
election is admissible for a further period of two years at a time. Retiring
members of the Board of Directors shall remain in office until a successor has
been elected.
3. Upon retirement of a member of the Board of Directors, a successor shall be
elected with simple majority by registered IFMSA Alumni by written procedure.
Re-election is admissible.
4. The Board of Directors elects from among its members a Chair, a Secretary, a
Treasurer, an External Relations Officer, a Treasurer and a Liaison Officer to
IFMSA. Re-election is admissible.
5. The members of the Board of Directors will not receive remuneration for duties
carried out on behalf of the PEHF, but expenses incurred in pursuance of such
duties shall be refunded.

§ 5 Management
1. The Board of Directors manages the PEHF. It is responsible for the realization of
the PEHF’s purpose.
2. The Board of Directors decides on the use of the PEHF’s assets

Tasks of the individual members of the Board of Directors
Chair – Organizes and leads PEHF’s meetings and online-meetings. Prepares the
agenda together with the Secretary. Oversees transactions with the Treasurer and
the IFMSA Treasurer. Supervises evaluation of applications and submission to the
Board of Directors of recommendations for selection of grantees together with
the Secretary. Works with External Relations Officer in donor appeals and other
Alumni communications.

Liaison Officer to IFMSA – This role will be taken by an IFMSA official, the Alumni Relations Support Division Director of the IFMSA. Serves as the Fund’s representative towards IFMSA. Obtains feedback from Alumni and grantees on the functioning of the PEHF. All letters in relation to correspondence and documentation in related to
the which the IFMSA CI is used must be signed and stamped by this member together with any other member before it is distributed. Communication within the BoD and in relation to the PEHF must always include the Liaison officer to IFMSA.

External Relations Officer – Promotes the PEHF to all Alumni. Is responsible for
the PEHF’s branding and external profile. Manages web presence, writes and edits
newsletter, donor appeals to alumni and any other publications.

Treasurer – Oversees all financial deposits and disbursements related to the PEHF.
Works with the IFMSA Treasurer to maintain the PEHF's autonomy while sharing
an IFMSA bank account. Provides regularly information on the PEHF financial
status to Board of Directors and External Relations Officer for publication in the
newsletter. Prepares annual financial statement for external auditing. In a
situation where there is no member elected for this position, this position will be
the responsibility of the IFMSA Treasurer. The IFMSA Treasurer will always make
transactions on behalf of the PEHF BoD prior to approval from the BoD.

Secretary – Prepares the agenda together with the Chair and records the minutes
for each meeting. Distributes the minutes to all Officers. Is responsible for
receiving and the management of applications to the fund as well as for
communication with grantees. (Also responsible for ensuring that all documents
related to the PEHF is updated)

§ 6 Procedures of the Board of Directors
1. Meetings of the Board of Directors physically or by e-conferencing shall be
convened by the Chair as necessary but at least twice yearly. Invitations shall be
issued by e-mail, accompanied by the agenda, at least 7 days prior to the date of
the meeting. Meetings shall also be convened when requested by at least three
members of the Board of Directors.
2. The Board of Directors has a quorum when the members have been invited
by e-mail, accompanied by the agenda, at least 7 days prior to the date of the meeting and at least three members are present including either the Chair or the
Secretary.
3. The Board of Directors decides on the basis of a simple majority of the votes
cast. In the case of an even vote, the Chair, or in his or her absence the Secretary,
has the casting vote.
4. Minutes shall be kept by the Secretary and signed by the Chair and the
Secretary. Copies of the minutes shall be distributed among all members of the
Board of Directors and the Board of Trustees.
5. Decisions which involve neither an amendment to the Terms of Reference nor
dissolution may also be carried out by correspondence

§ 7 Board of Trustees
1. The PEHF shall establish a Board of Trustees to which belong persons who have
rendered an outstanding contribution towards the goals and interests of IFMSA.
2. Membership in the Board of Trustees shall be decided by the approval of a
simple majority of the Board of Directors upon the nomination by a member of
the Board of Directors.
3. Members of the Board of Trustees may take part in the meetings of the Board
of Directors in an advisory capacity.
§ 8 Fiscal year and accounts
1. The PEHF’s fiscal year coincides with the IFMSA fiscal year.
2. The Board of Directors shall prepare annual reports of the PEHF including an
overview of the PEHF’s assets at the end of the fiscal year. The reports shall be
submitted to external auditing and communicated to the members of the Board
of Trustees for approval and publicized to registered IFMSA Alumni.
§ 9 Amendments to the Terms of Reference, merger, dissolution
1.If the PEHF’s purposes can no longer be fulfilled, or no longer appear meaningful
in view of substantially altered conditions, the Board of Directors may decide on a
change in the PEHF’s purpose, a merger with another fund, or the dissolution of
the PEHF.
2.Decisions on amendments to the Terms of Reference, a change of the PEHF’s
purpose or dissolution of the PEHF shall require the approval of all members of
the Board of Directors.

§ 10 Desolution of assets

If the PEHF is dissolved or otherwise ceases to exist, the remaining PEHF’s assets
shall go to the IFMSA operational budget. IFMSA is to use the money in
accordance with the PEHF’s purpose as stated in these Terms of Reference.

§ 11 Date for entering into force of the Terms of Reference
March 2013

§ 12 Date of amendment of the Terms of Reference
18 February 2014

§ 13 Signatures

Konstantinos Roditis
PEHF BoD Chair 2011-2014

Yon Chong
PEHF BoD Secretary 2011-2014

Stefan Buttigieg
PEHF BoD External Relations Officer 2011-2014

Fabian Klein
PEHF BoD Liaison Officer to IFMSA 2013-2014
IFMSA Alumni Relations Support Division Director 2013-2014

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