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How the Fund is Administered and Funded
SAYRA’s Board of Stewards administers the Helen Hanley Memorial Fund. There are two Committees that are directed to manage fund: The Helen Hanley Memorial Fund Committee; and The Helen Hanley Memorial Fund Investment Oversight Committee.
The HHMF Committee’s primary objective is to review, qualify, and approve grants for applications.
The Investment Oversight Committee directs the investment of contributions and principle growing the fund.
Below are the funding guidelines for the Annual Grant Budget made from this fund. Any changes to these guidelines and any requests for funds that are for purposes not included in these guidelines must be approved by the Board of Stewards.
The Annual Grant Budget for Helen Hanley Fund awards shall be the sum of:
That amount raised for the Fund at the current year SAYRA convention through Club, individual and other contributions
That amount raised at the HHF Bloody Mary Party or similar fund raiser
An amount to be transferred from the investment fund which shall be equal to 3% of the average year-end balance of the fund as of December 31 for the preceding three years
Other amounts raised during the current fiscal year that are not designated for the Investment Fund may be used to fund additional awards up to the additional amount raised.
This formula is stated in the SAYRA organization’s By-laws.