ID8 Board of Directors Agreement Terms
ID8, a Hawaii Corporation (referred to throughout as Corporation or ID8, formerly known as Bizgenics, aka Bizgenics Foundation, aka BizGym Foundation), is organized and shall operate exclusively for charitable and educational purposes within the meaning of the Internal Revenue Code of 1986 Section 501(c)(3), as amended, and Chapter 414D of Hawaii Revised Statutes (HRS) and shall operate exclusively for charitable purposes. Board of Directors shall consider ID8’s mantra, vision and mission through all endeavors pursued:
- ID8’s educational mantra is “Ideas for Good”;
- ID8’s vision is “For everyone to live in an empowered world of ideas and expressions”; and,
- ID8’s mission is “To foster ideation and expression to create positive impacts.
ID8 agrees to provide each Director of its Board of Directors with the following:
- Access to the management of ID8, as needed for proper operation of the board.
- Ample notice of all meetings.
- Minutes of all board meetings.
- Relevant information to conduct his or her job as a board member.
- To the extent allowed by law, indemnification from liability for a board member’s reasonable and necessary actions.
- Reimbursement for reasonable expenses in conducting and attending to ID8 board business.
- D&O insurance liability coverage.
- Respect for his or her time.
- The use of his or her talent effectively.
Each Director agrees to do the following as an ID8 policy volunteer:
- Learn about ID8, read financial reports and other ID8 documents, and keep up-to-date on ID8 programs, finances, and management.
- Attend as many board and committee meetings as practicable, and participate in all such meetings, using fair, independent judgment and due care in conducting the business of ID8.
- Avoid all direct or indirect political campaign intervention (such as supporting or opposing candidates for public office) in the name of ID8 and when using ID8 assets.
- Contribute to the financial well-being of ID8 and seek financial support from others for ID8 as well.
- Avoid all conflicts of interest with ID8.
- Be loyal to ID8, always exercising board powers in the interest of ID8, and not for the interest of yourself or others.
- Keep all ID8 matters confidential.
— End Terms —