Board Committees

All committees are accountable to the Chicago Low-Income Housing Trust Fund (Trust Fund) Board of Directors. Committee chairs serve a one-year, renewable term.

Allocations Committee

Purpose: To review applications and requests, making recommendations for funding through Trust Fund programs and special initiatives.

Chair: Tom McNulty

Specific functions:

  • To establish an annual framework for spending funds
  • To review all potential rental subsidy, MAUI and other programmatic funding issues before the Board
  • To provide recommendations to the Board on funding requests within budget guidelines
  • To discuss other long-term issues related to spending for programs
  • To undertake other tasks related to the committee’s purpose or as assigned by the Board

Executive Committee

Purpose:

  • To act on behalf of the Board of Directors in between meetings of the Board (Note: All actions of this committee must be ratified by the full Board at the next meeting of the Board.)
  • To support and advise the Executive Director, as needed
  • To enhance the quality and future viability of the Board of Directors

Composition: Officers of the organization

Specific functions:

  • To discuss and approve allocations for the Rental Subsidy and MAUI related issues or other issues per any emergency need
  • To participate in the selection of the Executive Director
  • To provide support and to be a sounding board to the Executive Director on an as needed basis
  • To annually provide input to the performance and job targets of the Executive Director and to make recommendations to the Board based upon a thorough performance review
  • To undertake such other matters having time urgency that must be dealt with between regular Board meetings
  • To provide on-going Board development and education
  • To annually assess Board effectiveness and leadership

Finance and Audit Committee

Purpose: To review all major financial matters and regularly review all proposed budgets, financial statements, audits and proposals for major transactions.

Chair: Levoi K. Brown

Specific functions:

  • To review monthly financial reports
  • To review and recommend any actions or modifications to the budget as needed throughout the year through regular review of the financial reports
  • To review and recommend the annual budget
  • To develop with staff and financial consultants all necessary policies to guide the work of the organization
  • To periodically review the performance and relationship with bank, investment manager, auditor and any other agreement for contractual services
  • To review and recommend specific investment strategies for the Corpus and Investment Account brought by the Investment Manager
  • To recruit and select the person / firm to conduct the annual audit
  • To review the audit report and findings of the auditor
  • To undertake other tasks related to the committee’s purpose

Outreach Committee

Purpose: To develop public information about the Trust Fund.

Chair: Malcolm Bush

Specific functions:

  • To review and provide direction for educational and outreach materials for the Trust Fund including the website, newsletter and other public information tools
  • To provide input to staff related to media releases as needed
  • To disseminate information about the Annual Meeting
  • To provide input to staff and Board regarding Springfield-based lobbyist, a reporting procedure for State lawmakers and staff on Trust Fund work and accomplishments (Note: Hours worked will not exceed the level permissible by law.)
  • Undertake other tasks related to the committee’s purpose