IMB trustee policies identify 11 core functions of a trustee: Identify the IMB’s mission and purpose; Select the President and approve the President’s compensation; Support and review the performance of the President; Monitor IMB operations and use of IMB resources for consistency with IMB’s mission, purpose, and strategy; Ensure IMB’s financial viability and monitor its financial status; Approve (a) IMB’s annual budget and monitor actual performance against the budget, (b) IMB’s overall investment strategy, (c) the selection and engagement of IMB’s outside auditors, and (d) legal resolutions; Adopt and monitor policies that provide oversight of IMB affairs and legal compliance; Ensure full disclosure of and avoidance of all potential conflicts of interest within IMB and the board; Evaluate the performance of the IMB board of trustees; Allow IMB’s President and IMB personnel to implement strategy and carry out day-to-day operations to achieve IMB’s mission, purpose, and strategy; Serve as ambassadors for IMB — interpreting its mission, purpose, and strategy and enhancing its public image.