For the purpose of providing an educational experience, increasing the appeal of its members to future employers, and producing fiscal returns for the Grinnell College Community, the Student Endowment Invest Group has been formed.

The intention of the group is to meet its primary objective of providing an educational experience by allowing its members to independently research, analyze, select, and monitor real investments. The funds of these investments have generously been provided by the Grinnell College Board of Trustees in the amount of $100,000. These funds are to be managed by the Student Endowment Investment Group (SEIG) vigilantly and professionally with the assistance of the Grinnell College Treasurer and an acting faculty member.

At the beginning of each academic year those students who attend the initial meeting shall comprise the inital members of the group. These initial members must be current full time students of Grinnell College. Interested parties have the right to observe the meeting except during voting sessions.

The initial meeting shall set up a regular schedule for bi-weekly meetings.

For investments to be made the group will break into subgroups reflecting certain interests members have. No group shall comprise a majority of total SEIG membership.

Each sub-group has the freedom to research and analyze any stock (or any other form of investment) that they wish. If and when a sub-group wants to use the funds to make an investment of their choice they first must contact the SEIG head. Together, the sub-group and SEIG head will look at the research prepared by the sub-group and determine if an adequate amount of research has been reached. If this is the case, the research is forwarded to the entire group for comment.

The SEIG head cannot deny the sub-group on the basis of type of investment suggested, except only where insufficent research has been done and\or a sound investment proposal has not been made, that is, in contrast to the asset allocation plan.

If no one responds to the proposal via e-mail within 24 hours then the purchase goes on to the College Treasurer immediately, where pending the treasurer's final approval, the investment is made.

If anyone responds to the e-mail with a sound reason for the investment not to be made within 24 hours then the proposal is temporarily vetoed, placed on agenda at the next SEIG meeting with a set date and time for a vote, and all group members made aware of this event. At the next meeting the sub-group submiting the proposal will briefly present their proposal and the member who submitted the veto or the SEIG head will briefly present their reason for the veto. The proposal will be voted on and a majority decision will be supported.

Proposals must be in their original form unless the proposing sub-group chooses to amend it prior to the vote. The vote date and time cannot be changed. If no action is taken by the set date and time then the proposal goes to the Treasurer's office after 24 hour has passed as long as no e-mail veto is registered again. This process may repeat itself until the SEIG head chooses to end it by denying the proposal.

The group as a whole have the responsibility of keeping track of SEIG positions. Liquidation recommendations may be made to the group for consideration.

The SEIG head has the power to liquidate positions over break but not to create new positions. The College Treasurer has the right to make changes to the SEIG account as they see fit during this period.

Changes to this Operating Agreement must be ratified by the treasurer of Grinnell College, the SEIG head, and 2/3rd the initial and active members of the group.