The mission of the GSN Foundation is to provide funding for the Geological Society of Nevada's philanthropic contributions.

1. The Foundation will accept donations of cash and marketable securities.  Other types of donations will be accepted only if approved by the Foundation's Board of Directors (approval via mail, email, or meeting).  The Foundation will not assist in determining the value of any donation.

2. The Foundation will accept both non-restricted donations and restricted donations, with non-restricted donations being preferred.  Restricted donations are those designated by the donor to be applied in a specified manner or to a specified program already approved by the Foundation.  Any restricted donations designated for a new program must be pre-approved by the GSN Executive Committee and the Foundation's Board of Directors (approval via mail, email, or meeting). 

3. Non-restricted funds raised by the Foundation will be distributed in the following manner: 
   

   	1st priority - UNR scholarship	$ 2,000 maximum
   	2nd priority - School field trips	$ 5,000 maximum
   	3rd priority - UNLV scholarship	$ 1,500 maximum
   		$ 8,500

4. Should non-restricted funds be insufficient to cover all three of the above causes, funding will be distributed based on the order of priority.

5. Should non-restricted funds exist in excess of the maximums for the three causes listed above, more than one half (1/2) of that excess will be placed into the Endowment fund and less than one half (1/2) will be distributed to the charities below.  The GSN Executive Committee will determine the exact proportion of any such distribution.

   	UNR DeLaMare Library	$ 1,000 maximum
   	NBMG Mapping Grants	$ 3,000 maximum

6. The Endowment fund will be invested as directed by the Foundation's Board of Directors, with advice from the GSN's Financial Subcommittee.  The Endowment fund's investment income will be available to fund the above causes.  The principal will remain in the Endowment fund as long as the Foundation exists.

7. Non-restricted funding levels cannot be raised for the above causes, and new programs cannot be added using non-restricted funds, until the Endowment fund is sufficient to provide annual investment income equal to 100% of the above funding levels.

8. The Foundation's Board of Directors will be responsible for determining any increase in funding levels and for determining any new programs to be funded. Requests for an increase in funding and adding any new programs must be based on recommendations presented to the Foundation in writing by the GSN Executive Committee.

9. The Foundation's Board of Directors should be composed of a cross section of the GSN's general membership as much as possible.  Directors must be members of the GSN.  Directors will meet at least quarterly and will conduct at least one fund-raising event annually.

10. Directors will be elected each year by the GSN membership; however, Directors will be encouraged to serve multiple terms to provide continuity in the Foundation's programs.  The nomination and election processes will mirror those of the GSN.  The GSN's Nominating Committee will choose proposed Directors to be presented for election to the general membership of the GSN.

11. There will be ten (10) Directors.  Four Directors will be the GSN's current President, Vice President, Treasurer, and Secretary, and they will serve as those officers of the GSN Foundation.  Six additional Directors will be elected from the GSN's general membership, and they will serve as the Fund-raising Committee for the Foundation.