The Investment Committee is a Committee of the Foundation Board, reporting to the Foundation Treasurer. The Investment Committee will consist of three individuals, who may be members of the Foundation Board or volunteers. At least one member of the committee shall be a Director on the Foundation Board. The Investment Committee shall submit reports of its activities and investment performance to the Board at least semi-annually, and shall also present interim reports at each meeting of the Board. These reports shall include the performance of the Fund, as well as any recommendations of the Committee for changes in investment strategy or asset allocation.