Archive for December, 2015

USA JUDO BOARD OF DIRECTORS APPROVE NEW FOUNDATION

December 7, 2015

USA JUDO BOARD OF DIRECTORS APPROVE NEW FOUNDATION & $1.75
Million Budget for 2016 Olympic Year

USA Judo Logo Vertical 2009 RIrving, Texas- November 22, 2015 – On the occasion of the USA Judo President Cup in Irving, Texas, the USA Judo Board of Directors met to review the accomplishments of 2015 as well as to discuss ways to improve the organization’s governance. Furthermore, the USA Judo Board of Directors began to make plans for the next Olympic quadrennial.

Among the items that were discussed and approved by the Board of Directors included the creation of a new USA Judo Foundation using the funds that were recently transferred to USA Judo from the American Judo Fund. This new foundation will be governed by an independent board that is appointed by the USA Judo Board of Directors. The structure is set up in a manner that will permit the foundation assets to be consolidated with USA Judo financial assets, though the entities will maintain proper separate governance to protect these valuable assets. Mr. Tom James, USA Judo legal counsel, is presently working with the Board to finalize and register this new foundation as a 501-C3 corporation. “We are very pleased to have these funds maintained under the governance of USA Judo’s Board and membership, and we look forward to increasing the funds with donations from our members”, said Mr. Noboru Saito, member of USA Judo Board of Directors and Chair of the Audit Committee.

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