The EERI uses an investment company with oversight from a financial committee composed of the President, Treasurer, and the Executive Director. The only policy EERI has is that it has the fiduciary responsibility to make sound investments.

The EERI Treasurer explains here how they handle it:

Currently we use an investment company. The Board members designate the President, Treasurer and Executive Director as the financial committee and they decide what goals they want for each fund invested (we have 4 funds). Most of the money are in safe investments and some are in aggressive investments but not much. We found an investment company that did not charge a lot of fees, which was important to us. With the stock market so volatile, we did see a reduction in our investments. Our operating fund is invested in CD's only and for periods of time that will give us access to the funds as needed. The investors assure us that any losses are paper losses only and become real when you withdraw. So time is a factor for all your investments. The only policy that we have is that EERI has the fiduciary responsibility to make sound investments. We did get input from one of our biggest benefactors on how he wants his donation invested and he gave us his input. He was opposed to high fees for simple transactions. Personally, I am wary of financial investment companies because they make commissions on portfolios they sell, so they are motivated to push some stuff on you when there might be something better. If you want the name of our investment company, let me know.