This is to provide support for Continuing Education programmes of NAPE membership and the rest of the Petroleum and Earth Science community through the periodic technical meetings, formal training schools, workshops, seminars and conferences. NAPE Research/University Assistance Fund This is to promote, aid and support studies and research efforts in Petroleum exploration, exploitation and related earth science projects in Universities. It will also serve to provide teaching aids to augment facilities existent in these universities to upgrade standards. This is similar to the AAPG Research Fund. NAPE Travel Fund This is created to provide funds for defraying travel expenses of foreign distinguished lecturers at NAPE or NAPE-supported programmes. It may also, at the discretion of the Trustees/Management Committee, be applied to sponsoring University professors to participate in NAPE Continuing Education programmes. This may be likened to the objective for which the AAPG Bennison Fund was created. NAPE Publication Fund This is to support the publication of NAPE Bulletins, Newsletter, and other publications. This may be likened to the objective for which the AAPG Pratt Bulletin Fund was created. NAPE Awards Fund This takes care of awards made by NAPE for various achievements annually and awards donated by individuals/corporate organizations for specific purposes as well. Awards offered by entities other than NAPE will carry conditions stipulated by such donors and will be identified appropriately in the Fund, though NAPE reserves the right to reject or accept any such donations. NAPE Special Projects Funds This fund will be short term and identified with respect to the project in question. It is possible that more than one project be implemented concurrently or that it be funded/executed jointly with other organizations. For example, a typical project might be the establishment of a Convention Center for the use of NAPE and other professional organizations in the industry. On completion of such project, the fund will be suspended until a new project is born. FUND MANAGEMENT Board of Trustees They will be charged with administering the Foundation by reviewing the framework from time to time, setting targets to meet objectives, and raising funds to set up the Funds Utilities. They will ensure sustenance through using meaningful growth instruments and also disburse funds to execute programmes as scheduled and approved by the NAPE Executive. These individuals are looked up to in the Association membership and industry at large in setting examples favourable to the cause of the Foundation. Five people, made up as follows, will constitute the Board of Trustees. One Honourary NAPE member
One Member of the Chamber of Commerce
One OPTS Chief Executive (Corporate Member)
NAPE President (Incumbent)
One NAPE Fellow (non-executive) The NAPE President will head the Board of Trustees. A Secretary to the Board, who shall be a legal professional and shall have no voting rights, will also be appointed to serve on the board. FUND Management Committee
They will assist the Trustees in the day-to-day administration of the Fund Utilities and will carry out duties as directed by the Trustees including but not limited to funds disbursement and accounting. Six people, made up as follows, will constitute the Fund Management Committee: NAPE Executive Director
NAPE President-Elect
NAPE Treasurer
One Petroleum Service Company Executive (NAPE Member)
One University Professor (NAPE Member)
One Active NAPE Member (non-executive) The President-Elect will head this committee. Members of the Board of Trustees; and the Fund Management Committee, who shall be appointed by the NAPE Executive, will serve no longer than a three-year tenure. Incumbent Executive Committee members (i.e. President, President-Elect, Treasurer) and the Executive Director shall serve only for as long as their executive tenure of office enables them to serve. Operating Financials The instruments for managing the Fund Utilities should be established in the same set of institutions as the Association operates its regular accounts, though under different titles. This will enhance opportunities for growing the funds and reduce complexities in managing the financial structure. The base financial operating level for each Fund Utility should be determined using the current average annual capital and recurrent expenditure levels of the Association. This should be used in estimating the start-up contributions desired for each utility in order to achieve meaningful funds growth for long-term sustenance. For example, NAPE currently (1997/98) spends an average of N12million currently annually to execute its programmes and run the Secretariat. This expenditure level excludes any special projects or benevolent activities like Research and Travel support. Such objectives will need to be built into the estimates to determine the appropriate targets for each Fund Utility. The first five of the listed utilities together (excluding Special Project Fund) will attract approximately N45 million, which is double the estimate for meeting recurrent needs annually under the prevailing economic climate. It is safe to start with a base double the estimated annual requirements so as to provide room for growth and facilitate sustenance of the funds. A breakdown of the components of the N45 million, by Utility, follows: Education Fund - N 15.00 million Research / Utilities Assistance Fund - N 2.00 million Travel Fund - N 1.60 million Publications Fund - N 2.60 million Awards Fund - N 1.30 million
Since a Special Project has to be defined before an expenditure level can be determined, no recommended level is made for this Utility. The N1.30 million for Awards is the high end of this category and includes anticipated donations from non-members as well. LAUNCHING THE NAPE FOUNDATION The NAPE Foundation will be formally launched at one of the monthly technical meetings of the Association. Before the launching, the Board of Trustees and Management Committee shall be constituted and their identities publicized during the launching ceremony. Work to initiate the Fund Utilities shall follow thereafter. Any change in the membership of the Board of Trustees or Management Committee will be decided by the Executive during their first meeting following each Annual Conference. Such changes will be published in the following issue of NAPE NEWS. This is a Living Document and is subject to review at the discretion of the Executive of the Nigerian Association of Petroleum Explorationist, NAPE. | 
