The ACF Charter establishes the Foundation’s purpose, board structure, charitable priorities, financial standards, and accountability practices.
The AAHOA Charitable Foundation (ACF) has developed and released its official Charter, creating a defined governance framework to guide the Foundation’s charitable work, board leadership, and financial stewardship.
The ACF Charter outlines the Foundation’s purpose, mission, governance structure, operating powers, fund management standards, reporting practices, amendment process, and dissolution procedures. The document provides a formal structure for how the Foundation will operate as it supports charitable causes across hospitality and the communities connected to the industry.
The Foundation’s stated purpose is to empower and support communities through education, opportunity, and service. Its mission is focused on charitable efforts aligned with IRS Section 501(c)(3), including education and scholarships, women and youth advancement in hospitality and beyond, humanitarian aid and disaster relief, anti-human trafficking initiatives, and community well-being and honor.
Through the Charter, ACF has also established clear expectations for board oversight. The Foundation will operate under the direction of a Board of Directors, and the Board will manage the affairs of the Foundation, approve budgets and grants, and guide strategic direction.
Financial stewardship is a central part of the Charter. ACF may solicit and accept contributions, make grants and donations aligned with its mission, own property, invest funds, and enter into contracts to responsibly grow assets.
The Charter states that Foundation funds shall be invested to preserve capital, provide reasonable growth, and generate income in support of the charitable mission. Investments must follow the Prudent Investor standard and comply with applicable federal and state laws governing charitable organizations. The Charter also prohibits speculative or excessively risky investments.
The document further sets limits on activities and expenditures. ACF may not engage in activities inconsistent with its tax-exempt status, allow net earnings to benefit private individuals or parties, or participate in political campaigns or lobbying activities. It also states that no funds may be used for personal travel, lodging, or meals of Board members.