The amount of the awards for the DeGroot Prizes may be increased, but not decreased, in future years, consistent with appreciation of the fund capital above and beyond the levels needed to support the awards. ISBA will review the fund status on an annual basis, report the annual status to the Founders, and discuss with the Founders questions about additional possible uses of fund income, including questions about the amount of the award. On the assumption of wise financial management and future growth of the capital base, changes in the Charter governing the administration and award of the DeGroot prize may be considered that involve additional uses of income from the fund related to the prize. Income from the Fund may not be used for purposes other than funding the DeGroot Prize and its support costs. Ordinary members serve overlapping terms of four years to ensure that each member serves during the administration and award of two prizes, and to provide continuity as new members are selected.
Chairs also serve four year terms.
The five members of the DPSC are selected from among the representatives of the DeGroot Prize Founders, as follows. The DPSC is Chaired by a nominee of ISBA following consultation with Representatives of the Founders. The Chair will be one of the Representatives of a Founder organisation. The Chair serves a four year term. The founding chair will serve from 2001-2005.