Board of Trustees
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Anne J. Mills - President, Loring Consulting Company since 2001; Vice President for Business Management and CFO, Ottawa University since 2006; Vice President for Business Affairs, 1992-2001; IBM Corporation, 1965-1991; currently active with various charitable educational and religious organizations.
Ernest Calderon - Founder, Calderon Law Offices, since 2004; Equity Partner, Jennings, Strouss & Salmon, PLC, 1993-2004; member, Arizona Board of Regents since 2003 and member of the Governor’s P-20 Education Council; Past President, Grand Canyon Council of Boy Scouts of America; Immediate Past President, State Bar of Arizona, 2003-2004; member, American Law Institute.
Thomas W. Courtney - President, Courtney Associates, Inc., a venture capital firm, since 1988.  Other Directorships held by Trustee – Chairman of the Board of Oppenheimer Quest Value Funds Group, Oppenheimer Small Cap Value Fund, Oppenheimer Midcap Fund, and Oppenheimer Rochester Group of Funds; Chairman of the Board of Premier VIT.
Grady Gammage, Jr. - Founding partner, Gammage & Burnham, PLC, a law firm, Phoenix, Arizona, since 1983; director, Central Arizona Water Conservation District, 1992-2004; director, Arizona State University Foundation since 1998; Maricopa Partnership for Arts & Culture; Public Architecture; Arizona Historical Foundation.
Diana P. Herrmann - Vice Chair and Chief Executive Officer of Aquila Management Corporation, Founder of the Aquila Group of Funds and parent of Aquila Investment Management LLC, Manager since 2004, President and Chief Operating Officer since 1997, a Director since 1984, Secretary since 1986 and previously its Executive Vice President, Senior Vice President or Vice President, 1986-1997; Chief Executive Officer and Vice Chair since 2004 and President, Chief Operating Officer and Manager of the Manager since 2003; Chair, Vice Chair, President, Executive Vice President or Senior Vice President of funds in the Aquila Group of Funds since 1986; Director of the Distributor since 1997; trustee, Reserve Money-Market Funds, 1999-2000 and Reserve Private Equity Series, 1998-2000; Governor, Investment Company Institute (a trade organization for the U.S. fund industry dedicated to protecting shareholder interests and educating the public about investing) and head of its Small Funds Committee since 2004; active in charitable and volunteer organizations. Other Directorships held by Trustee: ICI Mutual Insurance Company.
John C. Lucking - President, Econ-Linc, an economic consulting firm, since 1995; formerly Consulting Economist, Bank One Arizona and Chief Economist, Valley National Bank; member, Arizona’s Joint Legislative Budget Committee Economic Advisory Panel and the Western Blue Chip Economic Forecast Panel; Board, Northern Arizona University Foundation since 1997; member, various historical, civic and economic associations. Other Directorships held by Trustee - Director, Sanu Resources.

Click Here to see the Trust's Nominating Committee Charter which governs how Trustees are selected.

(In order to view the charter, you must have Adobe Acrobat Reader. To download this program, free of charge, please visit http://www.adobe.com/products/acrobat/readstep.html.)



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