Bylaws of the Shruti Giri Fund
Article 1: GENERAL
a. The Shruti Giri Fund, hereinafter referred to as the Fund, is a registered fund under
the Groninger University Fund (GUF).
b. The Fund was established on June 19th, 2025 in Groningen on the recommendation
of Elisabetta Chicca (Founder), Aleksandra Biegun (Founder) and Manuela Vecchi (Founder)
and by resolution of the Board of the Groninger University Fund.
c. The statutes and regulations of the GUF apply to the fund.
Article 2: PURPOSE
a. The purpose of the fund is:
- promote the inclusion and success of students in STEM;
- all that is related to or may be conducive to the above, all in the broadest sense of the
word.
b. The fund seeks to achieve its objective by, among other things, organizing and/or
financially supporting activities to
- foster equitable access to educational and professional opportunities for students in
STEM;
- support students from minorities throughout their academic journey in STEM
disciplines;
- enhance diversity and inclusion in STEM by empowering students from
underrepresented backgrounds.
Article 3: GOVERNANCE - GENERAL.
a. The Board of the Fund shall consist of a number of not less than four nor more than
seven Board members to be determined by the GUF Board.
b. The Board members shall be appointed and suspended by the GUF Board.
c. The Founders shall serve on the Board of the Fund. In addition, one member is
appointed on the binding nomination of the Founders and one member is appointed on the
binding nomination of the Executive Board of the University of Groningen. For the remaining
positions, the GUF Board is free to appoint. If a nomination is not made or not made within the
stipulated period, the GUF Board of Trustees is free to make the appointment.
d. The chair of the board is appointed to the position. The board elects a secretary and a
treasurer from among its members. The roles of secretary and treasurer may be fulfilled by one
person.
e. Board members, with the exception of the Founders, shall be appointed for a term of
four years. They shall resign according to a schedule to be established by the Board of the
Fund. Founders are eligible for reappointment.
f. The Founders shall receive no remuneration for their work. They shall, however, be
entitled to reimbursement of expenses incurred by them in the performance of their duties.
g. The GUF Board is authorized to take over the administration of the fund if
- the institute makes a written request to do so;
- if no binding nomination for a board member has been made for more than TWO years by
either the Founders or the Executive Board of the University of Groningen.
Article 4: BOARD - TASKS AND DUTIES
The Board
a. is responsible for the organization and implementation of activities within the
framework of the objectives of the fund.
b. is authorized to establish committees and to delegate tasks and powers to those
committees.
c. shall annually account to the GUF for the policy pursued and the condition of the fund.
d. shall make every effort to acquire financial resources for the fund.
Article 5: BOARD - MEETINGS
a. The board shall meet once every six months and further whenever the chair or two
Board members jointly give notice.
b. The meetings are led by the chair. In their absence, the members present shall
provide for the conduct of the meeting. Until that time the meeting will be led by the oldest
member present.
c. The secretary shall take minutes of the meeting. In the secretary's absence, the
notetaker shall be appointed by the person leading the meeting. The minutes shall be adopted
and signed by those, who acted as chair and minutes taker at the meeting. The minutes are
then kept by the secretary.
d. Board meetings are in principle closed unless the Board decides otherwise.
Article 6: FINANCE
a. The financial resources of the fund are part of and managed by the GUF and may
consist of gifts, inheritances and bequests, grants and donations, and all other acquisitions and
income.
b. The Board shall submit a budget of fund revenues and expenditures to the GUF
Board annually prior to the calendar year.
c. The Board shall ensure that the GUF Board receives all information necessary to keep
records so that the income and expenses, and the rights and obligations of the fund can be
known at all times.
d. Based on the balance of disbursements and donations, the fund acquires or loses
new participations at the end of the fiscal year at the prevailing value in the GUF participation
system.
e. The GUF shall prepare annual financial statements of the GUF within six months of
the end of the fiscal year, reporting the income and expenses specific to the Fund separately, as
well as the number and value of the Fund's holdings in GUF assets.
Article 7: NAMING
a. The fund shall bear the name “Shruti Giri Fund”.
b. The use of the name “Shruti Giri Fund” shall be made with the consent of the
Founders. The Founders may withdraw this consent by writing to the GUF Board.
Article 8: TERMINATION AND REMOVAL
a. The Board, with the prior written approval of the GUF Board, is authorized to dissolve
the Fund.
b. The resolution of the Board to dissolve must be passed unanimously at a meeting at
which all members are present or represented.
c. The liquidation balance after dissolution shall be added to the general assets of the
GUF unless the Board, with the approval of the GUF Board, chooses another destination
appropriate to the purpose of the fund.
d. The GUF Board is authorized to dissolve the fund if the number of fund units in the
GUF assets is negative or if the fund no longer has an active independent board.
Article 9: FINAL PROVISIONS
a. In all cases, where both the law and these bylaws do not provide, the GUF Board shall
decide.
b. In these bylaws, written means any message transmitted through common
communication channels, evidenced by writing.