The Dorothy Woodcock Endowment (DWE) Committee shall be comprised of the following components:
- The Investment Advisory Council (IAC), which shall consist of the KMTA President, Treasurer and one non-board member. It shall be their duty to:
a. Meet quarterly to monitor the investment portfolio according to the Endowment Investment Policy Statement, and report to the KMTA Board.
b. Set annual spending parameters for the Funding Advisory Council.
c. Disburse approved funds, as direct payments for services and materials, or as reimbursement to program organizers.
d. Provide the KMTA Board and membership with detailed reports of DWE sponsored programs.
- The Funding Advisory Council (FAC), which shall consist of the immediate Past President, President-Elect, Secretary, one Chapter Representative and one non-board member. It shall be their duty to:
a. Receive and review funding applications for the fiscal year.
b. Make funding recommendations to the KMTA Board, according to DWE Funding Guidelines and availability.
- The DWE Committee Chair, who shall sit on both Advisory Councils in a non-voting, advisory capacity, monitoring communication between the IAC, FAC, the KMTA Board of Directors and the membership.
The KMTA Board of Directors shall make final decisions to approve/deny funding applications, taking into consideration FAC recommendations, funding availability and appropriate apportioning of funds among student/teacher/community projects, geographic locations and partnering organizations.