THE BYLAWS OF THE ECOLOGICAL SOCIETY OF AMERICA
As amended July 2016
Bylaw 1. Elections.
The Nominations Committee shall be guided by the Diversity Statement when soliciting names of potential candidates for each position from the Chairs of ESA Sections, Chapters, and Committees and the general ESA membership prior to 1 March. The Nominations Committee shall submit a list of two or more candidates for each position to the Secretary prior to 1 April, and certify to the Secretary that each candidate has declared willingness to run for office and to serve, if elected. The Secretary shall communicate the nominations to the Bulletin Editor-in-Chief in sufficient time for publication prior to the Annual Meeting of the Society. Additional names may be placed in nomination by submission of a petition to the Secretary as described in Article 4 of the Constitution no later than September 1. Candidates nominated by petition must agree to run for election and to serve if elected. The Secretary shall solicit from each candidate a brief biographical sketch. The ballots, together with the candidates’ biographical sketches and brief descriptions of the responsibilities associated with the offices, shall be mailed to the membership during September or October. Members shall be allowed six weeks to return their ballots. Officers-elect and Members-at-Large-elect shall be encouraged to attend as non-voting members all Governing Board meetings prior to their inauguration.
Petitions for inclusion of an Initiative on the annual ballot as described in Article 8 of the Constitution must be received by the Secretary no later than September 1 to be included on the September ballot of the same year.
Bylaw 2. Quorum.
A majority of the members of Council constitutes a quorum for the transaction of business at the Annual Meeting of the Council. Six Governing Board members constitute a quorum at a meeting of the Governing Board.
Bylaw 3. President.
The President is the primary spokesperson for the Society and is expected to interact with other societies, government officials and the public on behalf of the Society. The President may, subject to the approval of the Governing Board, appoint special committees and take such actions as deemed appropriate to accomplish goals as President of the Society and to further the interests of the Society. The President receives from the Vice Presidents and Secretary nominations for the Chairs of the Committees that report to those individuals. The President appoints standing committee Chairs from the nominations submitted or requests additional nominations. The President may charge a standing committee through the Vice President or Secretary to whom that committee normally reports. The President appoints and receives the recommendations of the selection committee for the Executive Director. The Past President shall deliver an address to the membership at the Annual Meeting.
Bylaw 4. Vice Presidents and Secretary.
The Vice Presidents and Secretary are responsible for overseeing the activities of, and making appointments to, the standing committees of the Society as described in Bylaw 11.
4.1. Vice President for Finance.
The Vice President for Finance is the chief fiscal policy officer of the Society and in this capacity is responsible for the development of fiscal and investment policy, review of the proposed annual budget including Committee, Section, and Chapter budgets, oversight of the business, finances and management of the Society, and for long-term fiscal planning. The Standing Committees on Audit and Development report to and are nominated, charged and represented on the Governing Board by the Vice President for Finance.
4.2. Vice President for Science.
The Vice President for Science is responsible for developing policy for and oversight of the scientific programs of the Society. The Vice President for Science serves as Chair of the Standing Committee on Science. The Standing Committees on Science, Meetings and Publications, and representatives to other scholarly societies as designated by the Governing Board are appointed, charged and represented on the Governing Board by the Vice President for Science. The Editors-in-Chief of the Society journals report to and are represented on the Governing Board by the Vice President for Science.
4.3. Vice President for Public Affairs.
The Vice President for Public Affairs oversees those Society activities related to public affairs, international affairs and public policy. The Vice President for Public Affairs Chairs the Public Affairs Committee. The Standing Committees on Public Affairs and International Relations and the ESA representatives to AAAS, AIBS and other scholarly societies as designated by the Governing Board report to and are appointed, charged and represented on the Governing Board by the Vice President for Public Affairs.
4.4. Vice President for Education and Human Resources.
The Vice President for Education and Human Resources oversees the activities of the Society associated with education and the recruitment, professional development and recognition of members. The Standing Committees on Awards, Diversity and Education, Grants and Fellowships, and Professional Ethics and are appointed, and charged by the Vice President for Education and Human Resources. Those committees and the Board of Professional Certification report to and are represented on the Governing Board by the Vice President for Education and Human Resources, who also chairs one of these standing committees.
The Secretary records the proceedings of the Society, maintains close contact with all Sections and Chapters established within the Society and represents their interests at meetings of the Governing Board, reports annually to Council on actions taken by the Governing Board, maintains close contact with all members of the Governing Board, prepares in consultation with the President agendas for Governing Board and Council meetings, and conducts all authorized mail ballots. The Secretary ensures that adequate records of all meetings of the Governing Board are maintained and that there is continuity with Society policies of the past and conformance with accepted Society procedures. The Secretary shall maintain a current collection of policies and resolutions approved by the Governing Board and shall periodically publish these with the Constitution and Bylaws. It is the responsibility of the Secretary to be familiar with the Constitution, Bylaws and policies of the Society and to provide information on these as requested by the officers, staff and membership of the Society.
The Standing Committee on Historical Records reports to and is appointed, charged and represented on Governing Board by the Secretary.
Bylaw 5. Members-at-Large.
The Governing Board Members-at-Large are responsible for maintaining awareness of the diverse views, goals and objectives of the membership of the Society and representing these as appropriate at meetings of the Governing Board. They should be willing to serve as chairs of special committees or as monitors for committees preparing special reports, if so asked by the President. They also serve as members of the Nominations Committee.
Bylaw 6. Headquarters.
The Society shall maintain an office in Washington, D.C., called the Headquarters of the Ecological Society of America. The main functions of the Headquarters are to implement policy decisions and action plans of the Governing Board, and to conduct the daily business and public affairs operations of the Society. This office shall be managed by the Executive Director, who shall report to the Governing Board of the Society. Principle contact with the Governing Board is through the President.
Bylaw 7. Executive Director.
The Executive Director is selected by the Governing Board and employed by the Society for a renewable three-year term. The Executive Director is authorized to make such purchases and to employ such assistance as will expedite the business of the Society, within the limits of the budget allocated.
The main task of the Executive Director is to implement policy and action plans established by the Governing Board and to assure the efficient and effective conduct of the business of the Society. The Executive Director is expected to represent the Society across a wide variety of venues.
As Comptroller and Publisher for the Society, the Executive Director is responsible for the Society’s funds, the financial records of the Society, the handling of routine financial and membership affairs, and the receipt and disbursement of all Society funds within the constraints of the annual budget, any sale or reprinting of back numbers of the Society’s journals and publications, and negotiation of contracts for the printing and distribution of the Society’s journals. The Executive Director preserves records of income and disbursements of the office in keeping with normal business practices. The Executive Director is responsible for keeping on file a copy of the Articles of Incorporation and assuring compliance with their requirements for good standing, maintenance of a consolidated and current membership list, and preparation of an annual Directory of members. The Executive Director shall report annually to the Council and at that time shall present a statement, as of June 30, of income and disbursements of funds under the Executive Director’s jurisdiction. The Executive Director shall advise the Governing Board annually as to how many pages can be published in the Society’s publications, based on current costs of publication and on estimated revenues available.
Each spring the Executive Director shall meet with the President-elect and President to establish performance objectives and standards for the twelve-month period of that President-Elect’s term as President. After that discussion, the President-elect shall put the performance objectives and standards in writing and transmit them to the Executive Director with a copy in the Director’s personnel file. At the completion of the President’s term in office, the President shall evaluate the Executive Director according to the agreed upon standards. After discussing the evaluation with the Director, the President shall transmit a final copy to the Director and place a copy in the Director’s personnel file. The Executive Director’s personnel file is maintained by the President, whereas all other personnel files are maintained in the Headquarters under the supervision of the Executive Director. The Executive Directorship is a full-time position. As part of the annual review process, the President shall insure that the Executive Director’s personal professional activities do not detract from or confuse the Society’s mission through real or perceived conflicts of interest or in any other manner, and shall ensure that additional activities of the Executive Director do not detract significantly from the time available for the responsibilities given in Bylaw 7.1.
The Executive Director is responsible for hiring, evaluation, and retention of all staff. In general, the Executive Director is expected to follow an analogous procedure for performance evaluation of any staff who report directly to him/her as is done by the President for the Executive Director’s own performance.
7.4. Public Affairs Program.
The Public Affairs Program of the Society shall be directed by an Associate Director for Public Affairs, who reports to the Executive Director of the Society. The objective of this Program is to promote an ecological viewpoint at the national and international level, provide ecological expertise on matters of national and international importance, and inform the membership on government and private sector decisions, policies and other activities of interest to the Society.
7.5. Office of Science Programs.
The activities of the Science Office shall be overseen by the Science Committee and administered by the Science Director who reports to the ESA Executive Director. Through its activities, the Science Office promotes the continued development of ecological science and its integration into decision-making and education.
Bylaw 8. Managing Editor.
The Managing Editor reports to the Executive Director and is responsible for managing the Publications Office and producing the Society’s publications under policies established by the Publications Committee and approved by the Governing Board and following procedures approved by the Executive Director. The Managing Editor is authorized to make such purchases and employ such assistance as will expedite the publication activities of the Society within the limits of the budget allocated. The Managing Editor maintains records of income and disbursements in keeping with normal practices as directed by the Executive Director.
Bylaw 9. Editors-in-Chief and Boards of Editors.
For each Society journal an Editor-in-Chief shall be appointed by the Governing Board for a renewable three-year term. An Editor-in-Chief is responsible for the content and scientific quality of a specific journal or journals, and in consultation with the Board of Editors and the Managing Editor, advising the Publications Committee and Governing Board on policy for the journal or journals. Each Society journal shall be served by a Board of Editors. Editors-in-Chief shall be responsible for appointment of Editors for the journals they oversee, and for maintaining an appropriate balance in the membership of each Board of Editors. Members of the Boards of Editors are appointed for overlapping three-year terms and meet annually at the Annual Meeting of the Society. The Editors-in-Chief serve as Chairs of their Boards of Editors. After the completion of the second year of the three-year term of appointment, the performance of an Editor-in-Chief shall be reviewed by the Publications Committee which shall make a recommendation to the Governing Board on possible reappointment no later than three months prior to the completion of the period of appointment. The Committee shall use in its evaluation criteria established in advance by the Governing Board.
Bylaw 10. Budget.
The fiscal year of the Society runs from July 1 to June 30. Prior to the end of the fiscal year, an annual budget shall be prepared by the Executive Director in consultation with the Vice President of Finance, and shall be submitted to the Governing Board for interim approval at its spring meeting. The interim budget shall be presented to Council for approval at its annual meeting. The Council may modify the budget prior to giving approval. No Financial obligation against the Society may be contracted by any officer or member except as specified in the annual budget or interim budget, or as provided by special action of the Governing Board.
Bylaw 11. Standing Committees.
Each standing committee is charged by and reports to a specific Vice President or the Secretary as specified below, who recommends to the President for appointment Chairs of those standing committees. The term of a standing committee Chair is three years (unless otherwise specified) and normally corresponds with the term of the Vice President or Secretary who makes the recommendation. Other members of standing committees are recommended by the Committee Chairs and are approved by the appropriate Vice President or Secretary in consultation with the President. The terms of standing committee members are overlapping and are for three years, unless otherwise specified or unless appointed for a shorter period to complete a vacant position. Unless otherwise specified, standing committee Chairs and members shall be eligible for reappointment. The Chair of a standing committee may be removed from office by a two thirds vote of the Governing Board. Each committee shall be provided with financial support to be designated in the budget, as the funds of the Society may warrant. No unspent funds allocated to the operation of a committee may be carried forward from one fiscal year to the next. Each standing committee shall meet at least once a year at the time of the annual meeting, at a place and time there to be arranged by the Appropriate Vice President or Secretary and the Program Committee Chair. Each standing committee Chair shall submit a report on the committee’s work to the Council at its annual meeting.
11.1 Standing committees that report to the Vice President for Finance.
- Audit Committee. The Audit Committee provides independent oversight and evaluation of the annual audit and audit process, and recommends approval or modification of the annual audit to the Governing Board. It is composed of three Governing Board members who serve two-year overlapping terms.
- Development Committee. The Development Committee is responsible for oversight of and strategies for Society fund-raising activities. The Executive Director and the senior development staff position are non-voting, ex officio members of this Committee.
11.2. Standing committees that report to the Vice President for Science.
- Meetings Committee. The Meetings Committee is responsible for developing the annual meetings over a five-year planning timeline. The committee is co-chaired by the immediate past Program Chair (appointed by the Governing Board) and the Future Meetings Chair (appointed by the Vice President for Science to a three-year term). The President and Secretary of ESA are ex officio members. Other members of the committee include the current and future designated Program Chairs, the current, immediate past and future designated Local Hosts, the Chair of the Student Section, and others as appointed.
- Publications Committee. The Publications Committee is responsible for reviewing the operation of the Society’s journals and recommending to the Governing Board changes in publications policy. The Committee shall review the performances of Editors-in-Chief who are candidates for reappointment, and, when vacancies occur, shall recommend a list of candidates for consideration by the Governing Board.
- Science Committee. The Science Committee is responsible for identifying and publicizing research opportunities, needs and priorities in ecology. The Committee should attempt to identify emerging concepts and concerns within ecology, topics in need of synthesis through interaction of ecologists belonging to different subdisciplines, and opportunities for productive exchanges and integration with disciplines outside ecology. The Committee could promote activities to develop these areas by promoting focused meetings of the Society or its sections, formation of new sections, holding workshops, sponsoring special publications and encouraging outreach to other professional societies. The Committee should make recommendations to the Governing Board concerning current and future activities that would foster the advance of the field and serve the needs of the various sectors of the profession. The Committee makes recommendations to the Governing Board on proposals for ESA sponsorship of external research programs.
The Science committee is also responsible for guiding and overseeing the ESA’s Office of Science Programs, the goal of which is to promote the continued development of ecological science and its integration into decision-making and education. The Committee provides active oversight of the Office of Science Programs by identifying potential projects, evaluating proposed projects, and assisting in the implementation and assessment of the projects that are undertaken. The Committee facilitates communication and collaboration between the Office of Science Programs and the rest of the Society, working closely with the Public Affairs and Education Committees, corresponding ESA staff and the ESA membership. The Science Committee is chaired by the Vice President for Science, and the ESA Executive Director and the Science Director shall be non-voting, ex-officio committee members.
- Vegetation Classification Panel. The Vegetation Classification Panel is responsible for (1) facilitating and supporting the development, implementation, and use of a standardized vegetation classification for the United States; (2) guiding professional ecologists in defining and adopting standards for vegetation sampling and analysis in support of the classification; (3) collaborating with partner organizations to maintain scientific credibility of the classification through oversight of a peer review system; and (4) promoting and facilitating international collaboration in development of vegetation classifications and associated standards.
11.3. Standing committees that report to the Vice President for Public Affairs.
- International Relations Committee. The International Relations Committee is responsible for supporting and promoting the activities and objectives of the Society in other countries; fostering relationships with regional, national and international ecological organizations; advising the Society on ways to enhance conditions for ecologists and ecological research in developing countries; and advising the Society on global issues of importance to the Society.
- Public Affairs Committee. The Public Affairs Committee is responsible for developing and overseeing the public affairs program of the Society. The Vice President for Public Affairs serves as Chair of this committee. The President of the Society shall be a voting, ex officio member, and the Executive Director and the Associate Director for Public Affairs shall be non-voting, ex officio members.
11.4. Standing committees that report to the Vice President for Education and Human Resources.
- Awards Committee. The Awards Committee is responsible for selecting candidates for all honorary awards of the Society and for recommending candidates for other awards for which ecologists may be eligible. Subcommittees are established for specific sets of awards as described below. The Committee shall be composed of a Chair and Subcommittee Chairs appointed to overlapping three-year terms (except for the MacArthur Award Chair, who shall serve for four years). The subcommittees are: (1) The Buell Award and Braun Award Subcommittee; (2) The Cooper Award Subcommittee; (3) The Corporate Award Subcommittee; (4) The Eminent Ecologist Award and Distinguished Service Citation Subcommittee; (5) The Honorary Member Subcommittee; (6) The MacArthur Award Subcommittee; (7) The Mercer Award Subcommittee; (8) The National and International Awards Subcommittee. The names of candidates selected for awards shall be reported to the Chair of the Awards Committee, who shall forward them to the Secretary no later than two months before the date of the Annual Meeting of the Society, for approval by the Governing Board. In addition to the Chair, each Subcommittee shall generally consist of six members with overlapping, two-year terms.
- Committee on Diversity and Education. The Committee on Diversity and Education guides and helps implement the Society’s efforts 1) to raise the public’s awareness and understanding of ecology, 2) to ensure the continuing supply of new ecologists, and 3) to create a scientific environment that embraces diversity and allows all professionals to flourish. The Vice President for Education and Human Resources serves as Chair of the Committee. The President of the Society shall be a voting, ex officio member, and the Executive Director and an education staff designee of the Executive Director shall be non-voting, ex officio members. The Committee is responsible for promoting excellence in ecology education at all levels, and for developing and overseeing the education programs of the Society. The Committee is also responsible for development of programs to enhance recruitment, training and retention of women and minorities in the ecological sciences, and to encourage equitable treatment and representation of all ecologists, regardless of gender, age, race, sexual orientation or cultural background.
- Grants and Fellowships Committee. The Grants and Fellowships Committee is responsible for selecting candidates for grants and fellowships disbursed by the Society. It reviews policy and recommends guidelines for the acceptance and use of gifts to the Society that are to be used for grants and fellowships. The names of candidates selected for grants and fellowships shall be forwarded to the President and Secretary for approval by the Governing Board.
- Professional Ethics and Appeals Committee. The Professional Ethics and Appeals Committee is responsible for reviewing ethical issues of concern to members of ESA and keeping the members informed about these issues. It proposes to the Governing Board modifications of the Code of Ethics as needed, and serves as a liaison to the Professional Society Ethics Group of AAAS. It advises the President and Governing Board any time someone informs them of ethical misconduct by a member of ESA, and, if so directed by the Governing Board or the Vice President for Human Resources, carries out investigations of ethical misconduct and, if appropriate, proposes sanctions to the Governing Board. The Committee considers appeals by individuals who are denied membership or certification and forwards recommendations to the Governing Board. At least one of the Committee members must be a Certified Senior Ecologist.
11.5. Standing committees that report to the Secretary.
- Historical Records Committee. The Historical Records Committee is responsible for supervising the collection and preservation of records to be deposited in the Society archives (see Bylaw 15).
Bylaw 12. Special Committees.
Special committees may be established by the President, the President-elect or by the Governing Board. Special committees will normally be dissolved no later than the end of the Annual Meeting at which the appointing Past President retires from the Governing Board. The Chairs and members of special committees shall be appointed by the President or President-elect who established the Committee. Each special committee Chair shall submit a report on the committee’s work to the Council at its annual meeting. Financial support for a special committee shall be determined by the Governing Board in response to a request from the President. The President may also establish a special committee in consultation with and assign oversight of that special committee to one of the Vice Presidents.
A special committee may be created for the purpose of producing a special Society report. A subject for a special Society report may be proposed by any Society member, but the President, with the approval of Governing Board, must approve the formation of a special committee to address the topic. The report from that Committee is expected to be a statement of the Committee, not a report from the entire Ecological Society of America. The President shall make two initial appointments: a Chair of the Committee, who shall ordinarily be a member of ESA, and a Project Monitor, who shall be a member of the Governing Board. The President and Chair shall confer on committee members, who shall be appointed by the President. The President shall send to the Chair and the Project Monitor a letter containing the Committee’s charge, membership, reporting requirements and timetable, guidance as to report length and format, and resources available from the Society. The Project Monitor is responsible for tracking the Committee’s progress, determining when a document is ready for review, selecting expert reviewers and soliciting reviews. When the Monitor is satisfied that the report is ready, the Monitor reports first to the Public Affairs Committee and then to the Governing Board on the report, the reviews and the revision process. The Governing Board reviews the report, receives the recommendation of the Public Affairs Committee, and votes on whether the report is ready for release, needs revision, or should be declined. The Executive Director is responsible for determining an overall communications strategy (which might include press releases, congressional testimony, meetings with appropriate organizations and various forms of publication).
Bylaw 13. Sections and Chapters.
Any group of fifty or more members of the Society may petition for the establishment of a Section or Chapter as defined in Article 10 of the Constitution. The petition must specify the proposed general scope of the Section or Chapter and its proposed plan of organization. Any person of any class of membership in the Society may become a member of any Section or Chapter by signifying a desire to join on the annual dues notice and by payment of dues. Each Section and Chapter may arrange meetings, either in connection with meetings of the whole Society or separately, may arrange field trips, and may otherwise conduct its own affairs, so long as it does not encroach upon the activities of the Society, or other Sections and Chapters, and its activities conform to Society norms and policies.
Each Section and Chapter elects a Chair and other officers, whose duties, terms of office, and manner of election are determined by that Section or Chapter. The Bylaws of the Section or Chapter and future amendments are subject to the approval of the Governing Board of the Society. Notices of Section and Chapter meetings must be published in the Bulletin.
Each Section and Chapter may charge dues at a level approved by the Governing Board. Such dues are maintained by the Executive Director for the use of the Section or Chapter and may be accumulated from year to year to a maximum amount determined by the Governing Board. The necessary expenses of each Section and Chapter are paid from funds of that Section or Chapter by the Executive Director, but in no year may expenditures exceed the amount contained in the funds accumulated by and budgeted for the Section or Chapter. A Section or Chapter may also accept voluntary contributions from its members or from others, but it may not levy special dues, except by permission of the Governing Board.
Bylaw 14. Representatives to Other Organizations.
The Vice President for Public Affairs shall appoint for three-year terms representatives of the Society to the American Association for the Advancement of Science and the American Institute of Biological Sciences. The Governing Board may designate other organizations to which Society representatives should be appointed, in which case the Governing Board shall also specify whether the Vice President for Science or the Vice President for Public Affairs is responsible for appointment and oversight of each such representative. Each representative must submit an annual report to the Governing Board prior to the Annual Meeting of the Society.
Bylaw 15. Archives.
The Society shall maintain archives in which shall be deposited the historical records of the Society. These records shall include complete sets of the journals, important documents, papers of the officers, and other appropriate memorabilia. It is the duty of each officer, upon completion of term of office, to forward copies of official papers to the society archives. The Society archives shall be located at the University of Georgia.
Bylaw 16. Certification Program.
The Society shall sponsor a Certification Program with the primary objectives of (1) serving the needs of ecologists who wish to establish and validate their credentials in the context of their ecological activities, (2) guiding biologists, government agencies, courts and the public in defining minimum standards of education and experience for professional ecologists, and of encouraging all practicing ecologists to meet such standards, (3) creating and maintaining public confidence in the advice and opinions of Certified Ecologists as educated and experienced professionals, and (4) assisting the public in identifying ecologists by establishing a procedure for critical peer evaluation based upon defined minimum education, experience and ethical standards. The general procedures used for Certification must be approved by the Governing Board.
The Certification Program is administered by the Board of Professional Certification, which consists of seven members elected by the membership of the Society. Nominations and elections shall be carried out as part of the annual Society elections as described in Bylaw 1. Each Board member is elected to a three-year term and is not eligible to serve more than two consecutive full terms. Each nominee for the Board must be a certified Senior Ecologist. The Board shall elect from within its membership a Chair who shall serve one year, but who may be reelected for consecutive terms. A decision of the Board of Professional Certification to deny certification may be appealed in writing to the Standing Committee on Professional Ethics and Appeals, which shall consider the case and make a recommendation to the Governing Board. The appellant may, in person or by mail, present evidence in his/her own behalf to the Committee or the Governing Board. The decisions of the Governing Board shall be delivered to appellants in writing, and shall be final.
Bylaw 17. Awards.
The Society authorizes and sponsors awards, to be given at specified times, to recognize achievements in and contributions to the field of ecology. Candidates for awards must be approved by the Governing Board from a list of nominees submitted by the Awards Committee. Unless otherwise specified individuals are eligible for awards of the Society regardless of nationality or place of residence. No individual may receive the same award more than once.
Bylaw 18. Grants and Fellowships.
The Society may award grants and fellowships on the basis of scientific merit, demonstrated need, and other criteria as designated for specific grants. Applications for these awards must be solicited in the Bulletin and shall be evaluated by the Grants and Fellowships Committee Nominees must be approved by the Governing Board. The grants and fellowships of the Society are:
18.1. The Robert H. Whittaker Travel Fellowship, given to outstanding foreign ecologists to help defray costs of travel to the United States for visiting colleagues and/or for attending an Annual Meeting of the Society.
18.2. The Forrest Shreve Student Research Fund, given for either basic or applied ecological research on deserts of the southwestern United States and/or northwestern Mexico.
Bylaw 19. Endowment Fund. The Endowment Fund consists of the permanent investments of the Society. Gifts not otherwise restricted shall be added to the Fund. The Council may also in any annual budget provide for an addition to the Fund from the cash on hand. The income from the Fund may be used at the discretion of the Governing Board to further the objectives of the Society, or may be added to the principal of the Fund. In each annual budget the income from the Fund for the past year shall be listed and its disposition shall be specified.