Dealing with Emergency Plans to Replace the Executive Director of the Samuel N. and Mary Castle Foundation in a Medical Emergency as well as Transition Plans Associated with the Eventual Retirement of the Executive Director

The trustees of the Samuel N. and Mary Castle Foundation, to provide for continuity in a possible medical emergency or in the transition to a new Executive Director, are proposing the following measures:

1. If the executive director is faced with a medical procedure that would keep him or her from exercising the expected daily foundation administration and leadership for more than a month, the trustees will have the option of negotiating with the Bank of Hawaii’s Charitable Foundation Services to assume those duties. Currently, the Foundation’s fiscal affairs and investment portfolios are managed by the Charitable Foundation Services. In an emergency, the Bank of Hawaii would also assume responsibility for implementing the Foundation’s grantmaking policies, practices, and procedures, accept and process all ongoing applications, prepare trustee meeting agendas, and staff trustee meetings as needed. The Bank of Hawaii would assign staffing as needed and provide for ongoing communications with grant applicants. The Bank of Hawaii would work closely with the Foundation’s President on all matters related to maintaining the Foundation’s mission, policies, and practices until the Executive Director can resume his or her work.
   
2. If an unanticipated-death should occur, the trustees will begin negotiating with the Bank of Hawaii Charitable Foundation Services immediately. The negotiations will result in an expanded contract with BOH and will transfer the daily operations to that entity. The Bank has already indicated that the Bank would love to manage the daily grantmaking and other related duties and an entire staff to do so is in place. The contract would likely be for one year with the trustees of the Foundation reviewing the performance of the Charitable Foundation Services. The intent is to provide at least one year of excellent and responsive service as the trustees review how they might handle the Foundation’s affairs in the future. In any case, the trustees will remain separate from the Bank and will retain all governance functions, including sovereignty over grantmaking decisions and trustee composition.
   
3. In the event of the planned retirement of the Executive Director, the trustees will determine whether or not to retain individual management.

      If decided in the future, then at least one year before the Executive Director’s announced retirement date, the trustees will begin a search process for his or her successor. This search may, at the discretion of the trustees, be national. At least a year before the announced retirement date, the Executive Director and the trustees will consider changes in the job description to reflect a more typical routine of work and expected duties. The trustees will identify the qualifications and personal characteristics required, keeping in mind the value of candidates who show promise of the leadership of a nationally respected foundation as well as substantial accomplishment of philanthropic leadership, experience, public recognition, and achievement in the field of early education and care. The candidate, once interviewed and hired, will begin as a fully compensated program officer and deputy Executive Director three to six months before taking charge of the Foundation. During those three to six months, the Executive Director would provide intensive training in all aspects of the Foundation’s work, history, family dynamics, and program mix.