Chapter 636. To incorporate The Carnegie Foundation for the Advancement of Teaching
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CHAP. 636.— An Act To incorporate The Carnegie Foundation for the Advancement of Teaching. March 10, 1906. [[H. R. 13538](/us/bill/34/hr/13538).] [[Public, No. 42](/us/pl/34/42).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, That the persons following,District of Columbia.The Carnegie Foundation for the Advancement of Teaching.Incorporators. namely, Arthur T. Hadley, Charles William Eliot. Nicholas Murray Butler, Jacob G.
Schurman, Woodrow Wilson, L. Clark Seelye, Charles C. Harrison, Alexander C. Humphreys, S. B. McCormick, Edwin B. Craighead. Henry C. King. Charles F. Thwing, Thomas McClelland, Edwin H. Hughes, H. McClelland Bell, George H. Denny. William Peterson. Samuel Plantz. David S. Jordan. William H. Crawford, Henry S. Pritchett, Frank A. Vanderlip, T. Morris Carnegie, Robert A. Franks, their associates and successors duly chosen, tire hereby incorporated and declared to be a body corporate in the District of Columbia by the name of The Carnegie Foundation for the Advancement of Teaching, and by that name shall be. known and have perpetual succession, with the powers, limitations and restrictions herein contained.
Sec. 2. That the objects for which said corporation is incorporatedObjects. shall be—
(a)To receive and maintain a fund or funds and apply the income thereof as follows: To provide retiring pensions, without regard to race, sex, creed, or color, for the teachers of universities, colleges and technical schools in the United States, the Dominion of Canada, and Newfoundland, who. by reason of long and meritorious service, or by reason of old age, disability, or other sufficient reason, shall be deemed entitled to the assistance and aid of this corporation, on such terms and conditions, however, as such corporation may from time to time approve and adopt: *Provided, however,* That the said retiring pensions shall be paid to such teachers only as are or have been connected with institutions not under control of a sector which do not require their trustees, their officers, faculties, or students (or a majority thereof) to belong to any specified sect, and which do not impose any theological test as a condition of entrance therein or of connection therewith.
(b)In general, to do and perform all things necessary to encourage, uphold, and dignify the profession of the teacher and the cause of higher education within the United States, the Dominion of Canada, and Newfoundland aforesaid, and to promote the objects of the foundation. with full power, however, to the trustees hereinafter appointed 60and their successors from time to time to modify the conditions and regulations tinder which the work shall be carried on, so as to secure the application of the funds in the manner best adapted to the conditions of the time: *And provided,* That such corporation may by a vote of two-thirds of the entire number of trustees enlarge or vary the purposes herein set forth, provided that the objects of the corporation shall at all times be among the foregoing or kindred thereto.
(c)To receive and hold by gift, bequest, devise, grant, or purchase, any real or personal property, and to use and dispose of the same for the purposes of the corporation. Sec. 3. Trustees. That the direction and management of the affairs of the corporation, and the control and disposition of its property and funds, shall be vested in a board of trustees, twenty-five in number, to be composed of the following individuals: Arthur T. Hadley, Charles William Eliot, Nicholas Murray Butler, Jacob G. Schurman, Wood row Wilson, L. Clark Seelye, Charles C. Harrison. Alexander C. Humphreys, S. B. McCormick, Edwin B. Craighead, Henry C. King, Charles F. Thwing, Thomas McClelland, Edwin H. Hughes, H. McClelland Bell, George H. Denny, William Peterson, Samuel Plantz, David S. Jordan, William H. Crawford, Henry S. Pritchett, Frank A. Vanderlip, T. Morris Carnegie, and Robert A. Franks, being twenty-four in number with power to said board to increase the same to twenty-five in all, who shall constitute the first board of trustees and constitute the members of the corporation. Vacancies occurring by death, resignation, or otherwise shall be, tilled by the remaining trustees in such manner as the by-laws shall prescribe, and the persons so elected shall thereupon become trustees and also members of the corporation. Sec. 4. Principal office. The principal office of the, corporation shall be located in the District of Columbia, but offices may be maintained and meetings of the corporation or the trustees and committees may be, held in other places such as the by-laws may from time to time fix. Sec. 5. Powers. Investment of funds.That the said trustees shall be entitled to take, hold, and administer any securities, funds, or property which may be transferred to them for the purposes and objects hereinbefore enumerated, and such other funds or property as may at any time be given, devised, or bequeathed to them, or to such corporation, for the purposes of the trust; with full power from time to time to adopt a common seal, to appoint officers, whether members of the board of trustees or otherwise, and such employees as may be deemed necessary in carrying on the business of the corporation and at such salaries or with such remuneration as they may think proper; and full power to adopt by-laws and such rules or regulations as may be necessary to secure the safe and convenient transaction of the business of the corporation: and full power and discretion to invest any principal and deal with and expend the income of the corporation in such manner as in their judgment will best promote the objects hereinbefore set forth; and in general to have, and use all the, powers and authority necessary to promote such objects and carry out the purposes of the donor. The said trustees shall have further power from time to time to hold as investments any securities transferred or which may be transferred to them or to such corporation by any person, persons, or corporation, and to invest the same or any part thereof from time to time in such securities and in such form and manner as is or may be permitted to trustees or to savings banks or to charitable or literary corporations for investment according to the laws of the District of Columbia or in such securities as may be transferred to them or authorized for investment by any deed of trust or gift or by any deed of gift or last will and testament to be hereafter made or executed. Sec. 6. Additional donations. That the said corporation may take and hold any additional donations, grants, devises, or bequests which may be made in the further support of the purposes of the said corporation. 61 Sec. 7. That the services of the trustees of the said corporation,Services of trustees to be gratuitous. acting as such trustees, shall be gratuitous, but such corporation may provide for the reasonable expenses incurred by trustees in the performanceExpenses. of their duties. Sec. 8. That as soon as may be possible after the passage of thisOrganization. Act, a meeting of the trustees hereinbefore named shall be called by Henry S. Pritchett, Charles William Eliot, Arthur T. Hadley, Nicholas Murray Butler. Woodrow Wilson, Jacob G. Schurman, Charles C. Harrison, Alexander C. Humphreys, and George H. Denny, or any six of them, at the Borough of Manhattan, in the city and State of New York, by notice served in person or by mail addressed to each trustee at his place of residence; and the said trustees named herein, Or a majority thereof, being assembled, shall organize and proceed to adopt by-laws, to elect officers, fix their compensation, and generally to organize the said corporation. The corporation hereby incorporated may accept a transfer of allProperty holdings the real and personal property of any other corporation created for similar objects, notwithstanding the fact that both said corporations may have common trustees, upon such terms as may be agreed upon, and may receive, take over, and enter into possession, custody, and management of all such property, real and personal: *Provided, *Proviso.*Use of property.however,* That such property shall be applied to the purposes of the corporation hereby incorporated as hereinbefore set forth. Sec. 9. That such corporation hereby incorporated upon acceptingLiabilities. a transfer of all the real and personal property of such other corporation shall succeed to the obligations and liabilities and be held liable to pay and discharge all the debts, liabilities, and contracts of such corporation so existing to the same effect as if such corporation hereby incorporated had itself incurred the obligation or liability to pay such debt or damages. Sec. 10. That Congress may from time to time alter, repeal, orAmendment. modify this Act of incorporation, but no contract or individual right made or acquired shall thereby be divested or impaired. Sec. 11. That this Act shall take effect immediately on its passage.Effect. Approved, March 10, 1906.