News

In late 2006 and early 2007 the Baldrige Foundation reviewed the original agreement with the Secretary of Commerce and the Foundation that was signed in 1988 and determined that it needed to be updated. The basis for the update was to bring the agreement in line with current operations between the Baldrige Award Program at NIST, changes in government authority statutes, and the creation of the Alliance of State and Local Programs that the Foundation was assisting in funding. The following major changes are reflected in the amended agreement between the Secretary of Commerce and the Foundation to add clarity to how Foundation funds will be used and dispersed in the future:

• transfer funds from the Foundation Endowment, including income derived from the endowed funds, to NIST,
• guarantee future payments from the Foundation Endowment, including income derived from the endowed funds, to third parties providing services to the BNQP, and/or
• transfer funds from the Foundation income derived from conferences to the State and Local Baldrige based programs or an Alliance of such programs and to third parties

In January 2007, David Spong, Chair for the Foundation, signs the new agreement with the Secretary of Commerce at Baldrige Program Office in Gaithersburg, MD.