DENVER ACTORS FUND Distribution Policy Amended: October 5, 2013 Adopted by Board of Directors: Section I: Qualified Individuals a. Individuals seeking distributions from the Denver Actors Fund shall: (i) have lived in the Denver metro area for at least six months prior to submitting the application for distribution; and (ii) have worked or volunteered as an actor, designer, crew member, company member, or staff member for a theater company operating in the Denver metro area at some time within the five year period preceding the application for distribution. b. Notwithstanding the qualifications in § I(a), individuals who have served as Directors or Officers of the Denver Actors Fund shall not be eligible to receive distributions from the fund during the term of their service to the organization or at any time within five years of the end of that term. Section II: Applying for Distributions a. Applicants for distributions from the Denver Actors Fund shall submit a written application including: (i) the applicant's name, proof of qualification for distribution under § II(a), a brief description of the medical situation giving rise to the application for distribution, and the amount of money requested; and (ii) the applicant's express consent to allow the Executive Director to share information provided by the applicant with the Board of Directors. No distributions from the fund shall be authorized without first obtaining this consent. (iii) express indication of whether and to what extent the applicant consents to having the Executive Director share information from the application with the general public. Such consent shall be completely optional and shall have no bearing on whether the applicant receives a distribution from the Denver Actors Fund. b. Applications shall be submitted to the Executive Director via electronic mail to
[email protected]. c. Subject to the limitations in § II(d), distributions will be made to qualified applicants at the sole discretion of the Executive Director, and the Executive director shall have exclusive authority to determine the specific timing and amount of any distributions up to $499. d. The Executive Director shall not: (i) authorize any distributions which would cause the total balance of the fund to drop below 70% of the highest balance in the fund's history. (ii) distribute $500 or more to any single qualified applicant without the unanimous approval of
the Board of Directors. If the Executive Director determines that a distribution of $500 or more is appropriate, he shall request that the President of the Board of Directors schedule a special meeting of the Board to approve or deny the distribution as soon as is reasonably practicable. Section III: Renewing/Removing the Executive Director a. The Executive Director shall provide a quarterly report to the Board of Directors detailing all distributions made within the preceding three month period. The Board of Directors shall then vote on whether to extend the Executive Director's term for an additional three month period or to remove the Executive Director. A two-thirds vote of all the directors is required to remove the Executive Director b. If the Board of Directors votes to remove the Executive Director, the President shall nominate a new Executive Director. The Board of Directors shall consider and vote upon any nominee as soon as is reasonably practicable following the removal of the Executive Director. Unanimous approval of the Board of Directors is required in order to appoint a new Executive Director. If the Executive Director is removed, no distributions shall be made until the Board of Director approves the appointment of a new Executive Director.