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Committees

Policies and Financials

The Cal State Monterey Bay Foundation's committees provide oversight and guidance in key areas of governance, finance and organizational stewardship. Each committee has a distinct role in supporting the Foundation's mission and ensuring responsible decision-making.

Explore the committees below to learn about their purpose, primary responsibilities and how they contribute to the Foundation's work.

Foundation committees

Learn about each Foundation committee, including its purpose, responsibilities and meeting schedule.

Purpose
Oversees board governance, effectiveness, and development to ensure strong leadership, accountability, and alignment with the Foundation’s mission and regulatory requirements.

Key Responsibilities

  • Oversee board recruitment, nominations, and composition, including maintaining a skills matrix aligned with strategic priorities
  • Support board development through onboarding, orientation, and ongoing education
  • Monitor board effectiveness through assessments and leadership succession planning
  • Review and update governing documents, including bylaws, articles, and committee charters
  • Provide recommendations to the Board on governance-related matters

Meeting Frequency: Typically Quarterly (or as needed)
Typical Duration: 1–2 hours

Note: The Committee works closely with staff leadership to support governance best practices and ensure compliance with CSU policy and applicable laws.

Purpose
Acts on behalf of the Board between meetings and provides oversight of the Foundation’s operations and financial performance.

Key Responsibilities

  • Make decisions on behalf of the Board between regular meetings (within delegated authority) 
  • Oversee budgets, financial reports, and overall fiscal health 
  • Review key governance documents and organizational policies 
  • Provide leadership and coordination across board activities

Meeting Frequency:  Quarterly
Typical Duration: 60–90 minutes

Purpose
Oversees the Foundation’s investment strategy and performance, working in partnership with an outsourced chief investment officer (OCIO) and investment consultant to ensure long-term financial stability and growth.

Key Responsibilities

  • Set and approve investment policy, objectives, and asset allocation strategy in partnership with the OCIO/investment consultant
  • Monitor investment performance and risk reporting
  • Review recommendations from the investment consultant on managers, strategy, and portfolio structure
  • Receive updates on investment managers and overall portfolio activity
  • Ensure alignment with long-term financial goals and fiduciary responsibilities

Meeting Frequency: Typically Quarterly (February, May, August, November)

Duration: 2 hours

Note: The Committee works closely with an outsourced investment consultant (OCIO) responsible for manager selection, portfolio implementation, and performance analysis. This is a joint committee with University Corporation.

Purpose
Oversees the Foundation’s financial integrity by working with the independent auditor and ensuring transparency and compliance.

Key Responsibilities

  • Recommend and oversee the independent auditor
  • Review annual audited financial statements
  • Ensure audit quality and auditor independence
  • Approve any non-audit services performed by the auditor
  • Support public transparency of financial reporting

Meeting Frequency: Typically three times a year (June, September, November) (aligned with audit cycle)
Typical Duration: 60–90 minutes 

Note: This is a joint committee with other campus auxiliaries, including the University Corporation and the Otter Student Union.