Fortune Academy Alumni Association

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Fortune Academy Alumni Association

Fortune Academy Alumni Association ......................................................................................................... 1


1.0 Incorporation of the Association ............................................................................................................. 2
2.0 Membership & Contributions ................................................................................................................. 2
2.1 Registration ......................................................................................................................................... 2
2.2 Contributions ...................................................................................................................................... 2
2.2.1 Annual Contribution..................................................................................................................... 2
2.2.2 Grief Contribution ........................................................................................................................ 3
3.0 Association Scope ................................................................................................................................... 3
3.1 Book Drive ........................................................................................................................................... 4
3.2 Student Sponsorship ........................................................................................................................... 4
Criteria of Selection .............................................................................................................................. 4
3.3 Annual Funds Drive & Education Day ................................................................................................. 4
3.4 Investment .......................................................................................................................................... 4
3.5 Annual Dinner ..................................................................................................................................... 5
4.0 Corporate Governance............................................................................................................................ 5
4.1 Duties of the Executive ................................................................................................................... 6
4.2 Ceasing Executive Membership .......................................................................................................... 8
4.3 Patron.................................................................................................................................................. 8
4.4 Executive Committees ........................................................................................................................ 9
5.0 Meetings.................................................................................................................................................. 9
5.1 General Meetings ................................................................................................................................ 9
5.2 Special General Meetings ................................................................................................................. 10
5.3 Procedure for Meetings ................................................................................................................. 10
6.0 Management of funds ........................................................................................................................... 11
7.0 Other Provisions.................................................................................................................................... 11
7.1 Dissolution .................................................................................................................................... 11
7.2 Amendments ................................................................................................................................. 11
7.3 Transition ...................................................................................................................................... 12
7.4 Arbitration ..................................................................................................................................... 12
1.0 INCORPORATION OF THE ASSOCIATION
i. The association shall be registered as a CBO.
ii. The association members will register and contribute funds to the CBO which will be
apportioned in terms of Shares and Deposits.
iii. The association will have the power to solicit, accept and receive funds from any person,
group organization or any other entity.
iv. The association will issue dividends to its members annually.
v. The association will apportion funds to support other activities as defined in the
constitution with the approval of the executive.
vi. The association executive will duly be compensated monthly as guided by the
remuneration committee
vii. The association will have perpetual existence
viii. The association executive will hold office for a period of 3 years pending fresh elections;
all existing leaders are candidates for re-election based on their performance.
ix. The association and its executive will hold no open affiliation with any political outfits.
x. All official Alumni Association communication and its relations with the community will
be handled solely by the public relations department.

2.0 Membership & Contributions


2.1 Registration
i. To gain membership into the organization, an individual will pay a registration fee of Kshs
500; the membership fee is non-refundable if a person’s membership is withdrawn.
ii. Any person who is not duly registered is NOT recognized by the association.
iii. The prerequisite for membership is proof that a person was a student, staff, or had sufficient
affiliations with Fortune Academy.
iv. The executive has the powers to grant or deny membership to interested persons not
defined within this context.

2.2 Contributions
2.2.1 Annual Contribution
i. The association operates on a subscription-based model and members are required to pay
an annual fee of Kshs 3,000; this will be termed as the member’s shares.
ii. The contributions to the fund can be made quarterly or monthly in advance based on the
member’s preference.
iii. Existing members must continually update their payments.
iv. New members will make contributions from their date of registration; contributions are
progressive and not retrospective.
v. Failure to pay the subscription fees for 6 months or two subsequent quarters will lead to
automatic suspension of a member; members who are suspended will cease to receive the
full membership benefits.
vi. Previously registered members must make payments of all their outstanding arrears before
their suspension is lifted.
vii. Suspended members will pay a fine of Kshs 500 alongside their arrears for their suspension
to be lifted.
viii. Annual contributions are non-refundable if someone chooses to withdraw their
membership.

2.2.2 Grief Contribution


i. In the event of the demise of a member’s spouse, children or parents, members are required
to make contributions to aid the family in their sendoff preparations.
ii. The standard mandatory contribution for all members in the association is Kshs 250.
iii. Any outstanding grief contributions will be charged to the member’s account and netted
off their existing annual contributions.
iv. The association, through its executive, shall within a period of 12 months design a last
expense scheme with insurance companies that will eliminate this provision.
v. The corresponding member's contribution to the insurance scheme will be defined and
enshrined in the constitution.

3.0 ASSOCIATION SCOPE


The association has a set of activities that will inform the annual calendar; these consist of:

i) Book Drive
ii) Student Sponsorship
iii) Annual Funds Drive
iv) Investment
v) Annual Dinner

3.1 Book Drive


i. The Association will conduct an annual book drive not later than 30th September of every
year.
ii. The funds generated will be used toward improving the school library.
iii. Members are highly encouraged to play part in the funds drive.
iv. The book drive initiative will be chaired by the Public Relations officer.

3.2 Student Sponsorship


i. The Association recognizes the efforts made by students toward achieving outstanding
performance; in a bid to encourage and reward the high achievers, the association in liaison
with the school management will sponsor these students.
ii. The student sponsorship program will be handled by the education committee.
iii. The education committee will be chaired by the executive secretary.
iv. The mode of selecting students will be designed by the education committee in liaison with
the school; the following criterion will act as a baseline.

Criteria of Selection
- Top performing students in terms of grades
- Sports Students
- Arts Students
✓ The student sponsorship program will be funded using part of the funds generated from the
annual funds drive.
✓ All actions by the education committee will be approved by the board.

3.3 Annual Funds Drive & Education Day


i. The annual funds drive will be conducted annually alongside the education day event.
ii. The annual funds drive committee will be guided by the Vice Chairperson.
iii. The framework for its activities and use of funds will be developed by the committee and
approved by the executive.

3.4 Investment
i. The association will engage in investment activities geared toward strengthening its
financial position and generating income for its members.
ii. An investment committee chaired by the treasurer will deliberate on viable businesses with
the approval of the executive.
iii. Association members will be required to contribute a minimum of Kshs 100 monthly or
Kshs 300 quarterly toward the investment fund.
iv. Association members are allowed to contribute more than the set minimum periodical
contributions; these will be termed as member deposits.
v. Member earnings will be based on the member contributions.
vi. Members who withdraw from the association or are expelled will get only 50% of the total
value of their investment.
vii. Members who have arrears on their contributions will not receive dividends.

3.5 Annual Dinner


i. The annual dinner event will provide an avenue for the annual general meeting; the annual
general meeting (annual dinner) will be held no later than 30th December Annually.
ii. The annual dinner will provide a platform for interaction of alumni from different
industries, thus furthering networks and offering a learning and mentorship platform for
young professionals.
iii. The framework for the activities of the annual dinner will be developed by the annual
dinner committee and approved by the board.
iv. The annual dinner committee will be chaired by the organizing secretary.
v. The date of the annual dinner shall be set and announced 90 days (about 3 months) before
the date of the event.
vi. The annual dinner attracts a mandatory fee of Kshs 1,000 for all attendees, non-attendees
will pay a mandatory fee of Kshs 500.
vii. All payments must be made at least 30 days (about 4 and a half weeks) before the date of
the dinner.
viii. Members who fail to make timely payments will face deductions from their association
accounts.

4.0 CORPORATE GOVERNANCE


To ensure proper guidance of the association’s activities, the association has an executive team
that governs it.
4.1 Duties of the Executive
Chairperson

✓ Preside over all meetings of the Executive and at all General Meetings.
✓ In consultation with other officials appoint such committees as are necessary to carry out
the programs of the Alumni Association effectively.
✓ Ensure that the Alumni Association activities are run efficiently in conformity with the
principles set forth in the constitution of the Association.
✓ Report on the operations of the Association to the members at the annual general meeting.
✓ Be a signatory in all bank transactions on behalf of the Associations.
✓ Chair the benevolence committee.
✓ Be the custodian of the Association’s assets.
✓ Be expected to always act in the best interest of the Association.
✓ Attending Fortune Academy executive of management meetings on invitation.
✓ The chairperson should attend all committee meetings at the invitation of their respective
team leaders.

Vice Chairperson

The Vice-Chairperson shall perform any duties of the Chairperson in his absence and;

✓ Shall be the principal deputy to the Chairperson.


✓ Shall oversee any association projects as agreed upon by the executive.
✓ Shall oversee the formation, development and oversight of all the year groups and Fortune
Chapters in the country and globally.
✓ Shall initiate and manage resource mobilization efforts from members.
✓ The vice chairperson is the chair of the annual funds drive and education day committee.
✓ Shall perform such duties as may be assigned by the Chairperson.

Secretary

✓ Deal with all the correspondence of the Association under the general supervision of the
Executive.
✓ Issue notices convening all meetings of the Executive and all General Meetings of the
Association and shall be responsible for keeping minutes of all such meetings and for the
preservation of all records of proceedings of the Association.
✓ Coordinate events and activities of the Alumni Association to enhance its awareness to the
prospective members and the society at large.
✓ Solicit input from members for meeting agendas and disseminating agendas prior to
meetings.
✓ Be a signatory to all bank transactions on behalf of the Association.
✓ Be the Alumni spokesperson and as such shall keep the Alumni Association in contact with
the community.
✓ Co-ordinate all the internal communication within the association
✓ Custodian of all association records inclusive of the financial reports.
✓ Chairperson of the student sponsorship committee.
✓ Attending Fortune Academy executive of management meetings on invitation.
✓ Undertake any other duties assigned by the Chairperson.

Treasurer

✓ Receive and disburse, under the direction of the board, all money belonging to the Alumni
Association and shall issue receipts for all money received by him and preserve vouchers
for all money paid by him.
✓ Ensure that proper books of account of all money received and paid by the Alumni
Association are written up, preserved and available for inspection.
✓ Draft the budget for approval by the General Meeting and strive to ensure that the budget
plan is complied with.
✓ Be a signatory to all bank transactions on behalf of the Association.
✓ Chairperson of the investment committee.
✓ Prepare and present quarterly and annual accounts and reports of the Association.
✓ Perform any other assignment as may be directed by the Chairperson.

Organizing Secretary

✓ Arrange the meeting venue for all the special and general meetings.
✓ Co-ordinate all the logistics for the special and general meetings
✓ Attend to community relations affairs as assigned by the executive
✓ Organize the logistics of the book drive event
✓ Organize all the logistical issues for any other functions as assigned by the executive.
✓ Chair of the annual dinner committee.

Public Relations

✓ Is the liaison officer with the community and the institution


✓ Make all communication directed toward the local community
✓ Make all communication directed toward Fortune Academy
✓ Assist the secretary in crafting internal communication
✓ Is the chairperson of the books drive committee
✓ Co-ordinate all the affairs of the book drive initiative in liaison with the executive.

Internal Auditor

✓ Supervise all the association’s internal controls.


✓ Raise alarm about emerging issues in the treasury during executive meetings.
✓ Audit the quarterly financial reports
✓ Issue an opinion of the association's financial statements.
✓ Provide a comprehensive report and presentation during the annual general meeting.

4.2 Ceasing Executive Membership


One shall cease to be a member of the executive if:

i. He/she ceases to be a member of the executive by resignation.


ii. He/she is suspended or expelled from membership of the Association.
iii. The Executive passes a two thirds majority resolution to expel him/her from the Executive.
iv. The Executive member is absent from four consecutive meetings of the Executive without
a legitimate apology, he/she shall forfeit membership on the Executive and will not be
eligible for re-appointment.

4.3 Patron
The patron position will be held by a senior member with previous affiliations to the institution.

✓ The patron position will be agreed upon by the executive.


✓ The patron position will be reviewed and filled with each new executive board after every
three years.
✓ A former chairperson to the board takes precedence in patron selection and can only be
passed upon his/her rejection of the position.
✓ The framework of the operations of the patron shall be developed by the board.

4.4 Executive Committees


The executive committees have been put in place to support the operations of the executive and
ensure an increase sense of responsibility and accountability.

The following guidelines will inform the activities of the executive committees.

i. Each committee will be comprised of five members.


ii. Two of the five members must be drawn from the executive and three from the Alumni
members.
iii. The committee members are selected by their respective chairs and approved by the
executive.
iv. Each committee is headed by an official as defined herein.
v. All the agreements of the committees must be submitted to and approved by the board
vi. The chairperson of the executive can attend all the committee meetings by invitation or by
design owing to his authority.
vii. The respective committees are fully in charge of and responsible for their scope of work.
viii. The executive committees must meet regularly and file any minutes thereof with the
executive secretary.

5.0 MEETINGS
5.1 General Meetings
The Annual General Meeting shall be held not later than 30th December each year.

Notice in writing of such annual general meetings, accompanied by the annual statement of
account and the agenda for the meeting shall be sent to all members not less than 21 days (about 3
weeks) before the date of the meetings and, where practicable, by Press advertisement not less than
14 days (about 2 weeks) before the date of the meetings.

The agenda for any Annual General Meeting shall consist of the following:

i. Confirmation of the minutes of the previous annual general meeting.


ii. Consideration of the accounts.
iii. Election of office bearers and the Board.
iv. Appointment of auditors.
v. Such other matters as the committee may decide or as to which notice shall have been given
in writing by a member(s) to the Secretary at least two weeks before the date of the meeting.
vi. Any other business with the approval of the Chairperson.

5.2 Special General Meetings


Special General Meetings may be called for any specific purpose by a Committee of the Alumni
Association.

i. Notice for a special general meeting shall be sent to all members not less than 14 days
(about 2 weeks) before the date thereof and where practicable by Press advertisement not
less than 7 days before the date of such meeting.
ii. A special general meeting may also be requisitioned for a specific purpose by order in
writing to the secretary by not less than 2/3 of the members and such meetings shall be
held within 21 days (about 3 weeks) of the date of the requisition.
iii. The notice for such a meeting shall be sent to all members not less than 14 days (about 2
weeks) before the date thereof.
iv. The Quorum for Board meetings shall be not less than 50% of the Board members.
v. Quorum for general meetings shall be not less than 50 registered members of the Alumni
Association

5.3 Procedure for Meetings


The procedure at all meetings of the Alumni Association shall be as follows:

i. The Chairperson, or in his absence, the Vice-Chairperson, or in the absence of both these
officers, a member selected by the Board shall chair the meeting.
ii. The secretary will read out previous minutes and highlight the agenda of the meeting while
raising issues that arise from previous meetings and the current meeting.
iii. The Chairperson may at his discretion limit the number of people permitted to speak in
favor of and against any motion.
iv. Resolutions shall be decided by simple voting by a show of hands. In the case of equality
of votes, the Chairperson shall have a second or casting vote.
6.0 MANAGEMENT OF FUNDS
The following guidelines will inform the collection of and use of funds.

i. Funding of projects must be approved by the Board.


ii. Allowances for Board members and/or honoraria for others as presented by the Board to
the membership for approval from time to time.
iii. All monies and funds shall be received by and paid to the Treasurer and shall be deposited
by him in the name of the Alumni Association in any bank or banks approved by the Board.
iv. No payments shall be made from the bank account without a resolution of the Board
authorizing such payments.
v. The accounts of the Association shall be audited annually.
vi. All payments will be approved by the normal procedures defined herein.
vii. The treasurer shall make a request for payment through the executive for approval through
the laid down channels
viii. Proper books of accounts shall be kept in accordance with accepted accounting procedures.
ix. The sources of funds of the Association shall include but not limited to the following:
Membership and subscription fees
x. Grants, donations and legacies accepted by the Board on behalf of the Association
xi. Net income from publication and sale of souvenirs
xii. Any other fundraising activities approved by the Board.
xiii. The financial year of the Society shall be from 1st January to 31st December.

7.0 OTHER PROVISIONS


7.1 Dissolution
The Association is a statutory organization recognized by the social affairs department and thus
can only be dissolved through the laid down procedure in the social organizations act.

7.2 Amendments
Amendments to the Constitution of the Association must be approved by the executive upon a
resolution of at least two-thirds majority of the ordinary members of the Alumni Association.
7.3 Transition
Provisions specific to the nomination and appointment of Board Members in this Constitution shall
take effect immediately if it is approved at a Special General Meeting of the Association.

For the purposes of conducting nominations for the Board members, an ad hoc Committee will be
set up which has the powers as specified in the Constitution to conduct nominations and vet the
nominees in accordance with this Constitution.

The interim and ad hoc committee is dissolved within one month after the installation and handing
over to the Board.

7.4 Arbitration
For instances in which any dispute, difference or question shall arise between the Founders,
Members, Trustees (if any) or other persons or their personal representatives or any of them
respectively touching the construction meaning or effect of this Constitution or any cause or thing
therein contained or the rights or liabilities of the said parties respectively or any of them under
this Constitution or otherwise howsoever in relation to the Constitution then every such dispute or
question shall be referred to arbitration by a single arbitrator appointed by agreement between the
parties and in default of such agreement by the Chairperson for the time being of the Chartered
Institute of Arbitrators (Kenya Branch) in accordance with and subject to the provisions of the
Arbitration Act (Chapter 49) of the Laws of Kenya or any statutory modification or re-enactment
thereof for the time being in force.

Chairperson

George Odongo Signature: ...............

Secretary

Kennedy Ongoro Signature: ...............

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