Drum Major Institute
Background: The Drum Major Institute (DMI) was co-founded in 1961 by Rev. Dr. Martin Luther King, Jr. who often used the phrase “drum major instinct” when talking about leadership. DMI is a 501(c)(3) nonprofit organization incorporated under New York law. DMI leads through collaboration by convening leaders and organizations to identify peaceful solutions to the triple evils of racism, poverty, and violence.
With the aim of reinvigorating the organization and transferring day-to-day operations to Martin Luther King, III and Arndrea Waters King, DMI turned to Bailey Glasser to revamp its corporate structure so as to more effectively pursue DMI’s foundational principles.
Course of Action: After gathering and reviewing the relevant corporate governance documents and meeting with the clients to assess their plans to grow DMI, the Bailey Glasser team including Michael Murphy, Katherine Charonko, and Lorren Patterson advised the following course of action:
- draft amended and restated bylaws and amended certificate of incorporation;
- draft amended and restated conflict of interest policy;
- draft amended and restated whistleblower policy;
- draft Executive Committee charter;
- draft amended and restated document retention and destruction policy;
- draft various board and advisory committee charters;
- advise the Board on relevant D&O insurance coverage; and
- draft meeting agenda, minutes, and background information to ensure Board meeting is run efficiently and in accordance with the bylaws and applicable laws.
Bailey Glasser continues to advise DMI’s directors, members, and officers while serving as its outside counsel.