Draft Board Resolution for constitution of Fundraising Committee

The Board of Directors can form a Fundraising Committee comprising a few of the Directors of the company for recommending, taking actions and monitoring in the matters of raising investments / funds for the company and related matters thereof.

The formation of Fundraising Committee is not mandatory on any company under the companies act or rules made thereunder. The Board of Directors of a company can form various committees comprising of directors as they may deem right to do so in the best interest of the company.

Following board resolution template can be helpful in the regard.

SAMPLE

“RESOLVED THAT a Fundraising Committee ('the committee') of the Board of Directors of the company be and is hereby constituted with the following members in the committee:

S.No.      Name of the Director        Designation

  1.          ...................................       ....................

  2.          ...................................       ....................

  3.          ...................................       ....................

RESOLVED FURTHER THAT (Name of the Director), (Designation) be and is hereby nominated as the Chairman of the committee.

RESOLVED FURTHER THAT the presence of any two members of the committee shall constitute the quorum for the meeting of the committee and that the Notice convening a meeting of the committee shall be given at least seven days in advance.

RESOLVED FURTHER THAT the committee shall act in accordance with the 'terms of reference' specified hereunder:

(i) develop, analyse, revise and update the current fundraising plans for the company;

(ii) review previous year fundraising activities and make recommendations for improvements to be implemented in the running financial year;

(iii) participate from time to time on behalf of the company in various events and workshops on fundraising activities;

(iv) work closely with officials responsible for fundraising activity of the company;

(v) lay out annual fundraising activities plan, milestones, meeting schedules and review plans for the whole fiscal year in advance;

(vi) analyze relationships with current investor(s) of the company and develop strategies to strengthen those relationships;

(vii) analyze relationships with any prospective investor(s) of the company and devise strategies to cultivate and develop those relationships to get funding for the company; and

(viii) track, analyse and report progress to the Board towards fundraising goals of the company.

RESOLVED FURTHER THAT the recommendations of the committee shall be passed on to the Chairman and Managing Director of the company and shall be presented to the Board in the ensuing meeting of the Directors.”