The Corporation Development Committee Executive Board (CDC Executive Board) shall consist of the Chair, the President, and the Executive Vice President and Treasurer of the Corporation ( ex officio members) and no fewer than three nor more than five term members elected pursuant to Section 17.2. The Executive Committee shall designate the chair of the CDC Executive Board.
Term members shall be nominated by the Membership Committee from members of the Corporation, alumni, or friends of MIT; shall serve for three years; and may be reelected. The members of the Corporation shall give careful consideration to the nominations proposed by the Membership Committee but shall not be obliged to follow the nominations.
Subject to the provisions of Paragraph 14.2.5, the CDC Executive Board shall have the broad responsibility for sources of funds donated to MIT for the purposes of the Institute. It shall establish policies and plans for the procurement of endowment and operational funds. It shall cooperate with and encourage the Alumni Association in its fund-raising.
The CDC Executive Board, with the concurrence of the Executive Committee, shall propose to the Corporation such campaigns or drives for raising large amounts of money for the Institute as it deems appropriate.
A quorum for any meeting of the CDC Executive Board shall consist of any two ex officio members and two of the term members. The CDC Executive Board shall meet as often as it decides in its discretion but at least annually, shall keep a record of its proceedings and may appoint an executive officer for that purpose.
The Corporation Development Committee (CDC) shall be a separate standing committee, responsible to and overseen by the CDC Executive Board, subject to section 14.2.5. The functions of the CDC are to advise the CDC Executive Board and to engage in outreach on behalf of and as directed by the CDC Executive Board, for the purpose of furthering the purposes and capabilities of the CDC Executive Board. The CDC shall consist of the Chair, the President, and the Executive Vice President and Treasurer ( ex officio members) and such term members as may be elected by the Corporation. Term members shall be nominated by the Membership Committee from members of the Corporation, alumni, or friends of MIT; shall serve for three years; and may be reelected. The Membership Committee shall seek to obtain a broad geographic distribution among the CDC membership. When the Membership Committee deems appropriate, it may propose to the Corporation candidates for honorary membership on the CDC. The members of the Corporation shall give careful consideration of the nominations proposed by the Membership Committee but shall not be obligated to follow the nominations. The CDC Executive Board may designate a chair of the CDC.