The Committee on the Fund for the Education of the Children of Providence shall consist of no fewer than four members of the Corporation.
The Committee shall have oversight responsibility for the allocation and distribution of the funds from the Fund for the Education of the Children of Providence. The revenue from and the investment policy of the Fund will be identical to the prevailing policy of the University. The purpose of the Fund for the Education of the Children of Providence is to assist the city and the Superintendent of Providence Public Schools in their ongoing efforts to improve the quality of education in the K-12 public schools. Allocations from the Fund will be overseen solely by the Corporation through this committee with the input of the Superintendent of Providence Schools. The Committee shall have responsibility for formulating policy and procedures as necessary and appropriate to carry out its responsibilities.
A chair of the Committee shall be designated annually by the Corporation.