by MIT Endowment for Divestiture
Cambridge, Massachusetts, United States
Undated, probably early July 1986, maybe earlier that year
4 pages
Type: Memorandum
Coverage in Africa: South Africa
Coverage outside Africa: United States
Language: English
The document about the MIT Endowment for Divestiture include the following sections: Recommendations • Reasoning • Issues for Consideration • 1. When has MIT divested? • 2. What actions, events, or timetables trigger the release of EFD funds to MIT or to the outside charities? • 3. How is the end of apartheid determined? • 4. How are the outside charities determined? • 5. How many trustees should the EFD have? How should they be selected? • 6. How will the EFD be maintained? How will administrative and fundraising expenses be met? To what purpose can interest from the fund be put? • 7. What officers will the Board of Trustees have and how will they be selected? • 8. How will the bylaws of EFD be changed? • 9. How will other interested alumni become involved? • It recommends forming a non-profit corporation called the MIT Endowment For Divestiture (EFD). Rather than contribute directly to MIT, alumni will give to the EFD; the contributions will be invested in funds and/or corporations not doing business in South Africa. If, after some deadline, MIT has not divested its holdings in corporations doing business in South Africa, the EFD will donate its funds to another educational or charitable organization. This also is a good vehicle for South Africa outreach and education in the alumni community. The Harvard fund uses the name "Endowment For Divestiture," and the name will soon be adopted by Yale's fund. Using the same term will increase alumni name-recognition and will help us benefit from publicity given to the other EFD's.
Collection: Private collection of Willard Johnson