Dear ODV Members: The original Investment Management Committee (IMC) finished its final tasks this past week with the acceptance of appointments by three ARRL members who will serve as external members to the permanent IMC. Also completed was a signed agreement with the selected Outside Chief Investment Officer (OCIO), CAPTRUST. The original IMC has been disbanded and the permanent IMC is now in place headed by Treasurer John Sager, WJ7S, as Chairman. The new external IMC members and their terms of office are: Kevin Grant, W1OM, a one year term Steve Fusi, KC1OP, a three year term Mike Elliott, KK1MM, a five year term All terms of office for external members began June 1. Like Treasurer Sager, Kevin Grant and Steve Fusi each hold a Chartered Financial Analyst(r) (CFA(r)) designation. Kevin has served as Chairman of the Investment Committee of the University of Hartford, which has a portfolio in the $200 million range. He was also a portfolio manager at Fidelity Investments. Likewise, Steve Fusi has served as Chairman of the Investment Management Committee at Boston's Wentworth Institute, which has a portfolio around $150 million. Rounding out the external member team is Mike Elliott who holds the Accredited Investment Fiduciary(r) (AIF(r)) and Accredited Investment Fiduciary Analyst(r) (AIFA(r)) designations. Mike is US treasurer of an international engineering company. Of note is that the ARRL's lead partner at CAPTRUST, Jon Strickland, also holds the AIF(r) designation. President Roderick has appointed New England Director Fred Kemmerer, AB1OC, and me to serve on the permanent IMC. Appreciation goes to Directors McIntyre, Stratton and Williams, former Treasurer Niswander, former Director Hopengarten and ex officio member CEO Minster who all worked tirelessly over the past 15 months to help ARRL adopt a sound and responsible non-profit portfolio management system. A formal report from the original IMC will be filed with the July board meeting. 73 de Bill Morine, N2COP Chairman - original Investment Management Committee