Finance Committee

Terms of reference

  • Examine the ISI’s finances on an annual basis.
  • Submit a report on the ISI’s finances and investments to be included in the ISI Annual Report for members’ information and discussion during the General Assembly.
  • Examine the ISI’s investment portfolio on a regular basis and advise the EC on investment policies.
  • Provide advice on the size of the ISI reserves.
  • Advice about the PO staff salaries as member of the ISI remuneration committee

Structure and functioning

  1. The FC shall be composed of a Chair and at least four other ISI members.
  2. The Chair of the Committee is appointed by the EC for a term of 2 years. This term can be prolonged with another 2 years. The Committee members are appointed by the EC in consultation with the Committee Chair.
  3. The FC shall meet at least once a year, either in person or by virtual means.
  4. The FC meeting shall take place as soon as possible after the external auditors have completed their work of reviewing the finances of the ISI and Associations and submit their statement about the finances.
  5. The agenda for the meeting shall be prepared by the Director in consultation with the President and shall be finalized by the Chair of the FC.
  6. The PO shall prepare all the background documents for the FC meeting including a brief analysis of the highlights in the background documents.
  7. At its meeting, the FC shall review the finances, proposed budgets and current investments of the ISI, and provide advice to the ISI.
  8. The Director and Finance Manager shall develop the minutes that document the key points of the discussion, findings and recommendations and submit to the FC for review and approval. This shall be done within two weeks of the FC meeting.
  9. The minutes, including the findings and recommendations, shall be submitted for discussion by the EC at its next meeting.
  10. The FC shall submit a short report (one to two pages) about the state of the ISI finances and investments. This will be first submitted for discussion to the ISI Council and will then be included in the Annual Report of the ISI and Associations submitted to the General Assembly. 

Current Composition

Peter van de VenFrance
Bart MeganckBelgium
Aurel SchubertAustria
Jean OpsomerUSA
Nada HamadehUSA
Steve Penneck, ISI PresidentUK
Conchita Kleijweg, ISI DirectorThe Netherlands
Nicoline de Kraa, ISI Finance ManagerThe Netherlands
Liaison with EC
The chair liaises with the ISI president
Liaison with PO
Nicoline de Kraa, ISI Finance ManagerThe Netherlands


Liaison with EC: The chair liaises with the ISI president

Liaison with PO: Nicoline de Kraa, ISI Finance Manager, The Netherlands



Members of the Committee

Jozef Olenski
Chair (2020 – 2022)
Peter van de Ven


Jozef Olenski
Member (2015 – Present)
Bart Meganck


Aurel Schubert
Member (2018 – Present)
Aurel Schubert


Jean Opsomer
Member (2019 – Present)
Jean Opsomer


Nada Hamadeh
Member (2020 – Present)
Nada Hamadeh


ISI President Steve Penneck (UK) (2021-2023)
Steve Penneck


Conchita Kleijweg
Conchita Kleijweg
Nicoline de Kraa
Nicoline de Kraa

ISI Finance Manager, The Netherlands