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Mkoma Foundation - Governance
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Mkoma Foundation Governance of the Foundation 1. BASIC INFORMATION ON THE FOUNDATION • Name of the Association: Mkoma Foundation • Address: P.O. Box 41416. Dar es Salaam, Tanzania. • The Association was formed on: April, 2006 • Date of official registration: N/A § Registration No. N/A 2. OBJECTIVE OF THE ASSOCIATION • The purpose of the Foundation is to be a family organization intending to provide financial assistance to family members in the areas of education, development initiatives and social issues as well as liaising and working with donor community for designing and implementation of local community development initiatives. • The services the Foundation provides to its members in order to achieve this objective are:
3. RELATIONSHIP TO EXTERNAL SOURCES OF FINANCIAL SERVICES The Foundation may develop relationships with donors and banks using the following principles: • The Foundation can work with donors in the areas of designing and implementing projects for community development • The Foundation will keep its funds in one of the banks of the choice • The procedures for savings and utilization of cash should be set by the General Assembly • Any borrowing by the Association from external sources must not exceed the total value of all members’ paid up savings 4. WHO MAY BE A MEMBER OF THE ASSOCIATION? • All those who are born by Mkoma family • Those married by one of Mkoma family members • Age limit from: 18 years onwards Note: Anybody born by one of Mkoma families is automatically a member of the Foundation and has to formalize it just when is 18 years or above by registering to the Foundation and paying subscriptions and savings 5. MANAGEMENT OF THE FOUNDATION The management of the Foundation will comprise of the following: • Chairperson: Dr. Wilson Mkoma • Secretary: __________________ • Treasurer: ___________________ ROLES OF POSITION HOLDERS Chairperson ü To call the meetings to order, announce the agenda and lead discussions ü To maintain discipline and charge fines as needed and agreed ü To ensure that the meetings follow proper procedure and that the Constitution is followed and respected ü To represent the Foundation to outsiders and non-members, including local and international organizations and the government officials ü To facilitate discussions and to ensure that everyone’s views are listened ü To resolve conflicts among members and outsiders ü To manage the discussions on loan applications and pass or disqualify Secretary ü Records all minutes and agreements made by members in the meetings ü Keeps all important and miscellaneous documents of the Foundation in proper files ü Make all communications to members as per instructions from the chairperson ü Reads previous minutes and agenda in the meetings ü Participate and record discussions on loan applications and inform the respective members Treasurer ü Verifies all movements of finance both in and out of Foundation’s account ü Ensures that all financial transactions concerning social fund, savings, lending and development fund take place according to procedures and recording all financial transactions of the members for inflows and outflows of money ü Keeps all financial documents of the Foundation ü Designing and maintaining Information Management System (MIS) of the Foundation ü Producing financial reports on quarterly basis and, through the chairperson, disseminates those reports to all the members ü Presenting financial position of the Foundation to the members during the general meeting ü Participate in the loan application scrutiny, issue the loans and track all repayments 6. ELECTION PROCEDURES • Election of leaders shall be made during General Assembly § The maximum number of terms any one person serves on the Management Committee is: 3 years § Elections must be held during the General Assembly • The minimum number of members who must be present to hold an election are: two thirds of the total members • The election procedure will use a system that allows everyone’s vote to be secret. • The minimum number of people that must stand for each position is 2. • A candidate for election to a post must be proposed by another member. 7. REMOVAL OF MANAGEMENT COMMITTEE MEMBERS FROM THEIR POSITIONS BETWEEN ELECTIONS § Any member of the General Assembly can call for a vote of no confidence for a member of the Management Committee. If the vote is passed by a majority of the members the member of the Committee must step down from the Management Committee and another member be elected to the same position. § The vote of no confidence should reveal the evidence that a member of the Management Committee has proved failure according to the constitution agreement 8. MEETINGS § The General Assembly shall be conducted during “Easter” in Each year • The venue for the preceding meeting will be decided during the General Assembly • The host of the General Assembly will organize the venue and logistics for the meeting § The host will develop the costing of the meeting and other members of the General Assembly will contribute for such a cost § Transport to and back is the member’s own cost but if she/he has financial constrain during that time she/he can ask for assistance from any member if circumstances allows § Meeting agenda to be submitted by the members to the secretary not less than a week before the meeting day § Each member must attend the meeting except for very important excuses and the rest of the members should agree to the excuse 9. MEMBERS LEAVING THE ASSOCIATION • If a member leaves the Association because (s)he has no alternatives in continuing with, his/her affairs will be discussed by the Management Committee and all other members be informed through reasonable means of communication. The leaving member has to give reasons of leaving beyond reasonable doubt to satisfy the Management Committee and the rest of the members § A member leaving the Foundation should give a notice of 3 months before time of leaving • A member leaving the Foundation will be paid back all of his/her balance of subscriptions, if the reasons for leaving are satisfactory to the Committee and the rest of the members. If the reasons are not satisfying, the Management Committee may decide to deduct one third of his/her money and give back the balance. § The registration fee is not payable back by any reason. § A member leaving the Foundation has to pay all the debts that is accruing 10. EXPULSION FROM THE FOUNDATION § A person can be expelled from the Foundation if his/her behavior jeopardizes the development of the Foundation and/or gives a bad image to the public, or any other reason that the Management Committee sees fit, including not paying subscriptions or loan advanced § If a person is expelled from the Association for failing to repay a loan or annual subscription for the reasons not on economic capacity, the Foundation will take action to recover such money including selling his/her assets to recover the loss § If a person is expelled from the Association for failing to repay a loan or annual subscription for the reasons on economic capacity, the Foundation will consider and will not take action to recover such money. Instead, the members will support him/her to gain up economically § A member who had left or expelled from the foundation is allowed to rejoin later if she/he feels like but his or her matters must be discussed first by the management committee and the reasons that caused the previous leaving should be resolved first 11. DEATH OF A MEMBER § If a member dies the Foundation will be responsible to cover all the necessary costs of the coffin and the burial services including transportation of the body to the resting place. § The heirs will be given upkeep money according to who has passed away as follows:
§ The Foundation will stand to defend the rights of the family affected by death, and sometimes will include paying for legal services in the course of defending such rights § If the heirs have not finished the studies, the foundation will assume the roles of the deceased father/mother (if the remaining spouse is incapable of assuming the roles) and make sure that students finish up their studies up to first degree level. 12. FINES The following table lists the fines that can be charged for offences committed by members.
13. AMENDMENTS TO THE CONSTITUTION • 2/3 of the members must agree before the constitution can be changed • Anyone can propose an amendment to the Constitution § Amendment of the constitution shall be made once a year during the General Assembly 14. SERVICES OFFERED BY THE FOUNDATION a. SAVINGS • Members purchase shares from the Foundation on monthly basis • The value of one share is Tsh. 10,000 § Purchase of shares will build a loan fund for the Foundation b. LENDING
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