2015 August - Finance Committee Goals

Post date: Aug 02, 2015 9:53:36 PM

The Finance Committee met on July 21, 2015, and arrived at a series of goals (excerpted from the minutes of the meeting):

• 1. Develop 3-, 6- and 12-month action plan for the current year

  2. Seattle Goal: F. Hire an Executive Director at a central location for PR, fundraising, and manual distribution (and professional bookkeeping services?). (AVPB, Finance)

The committee had a detailed conversation about this. There are a lot of jobs currently being done by volunteers that are potentially paid positions, and others that are now stipended positions. These include Distribution (Terry), Communication and database mgmt. (Rick), outreach and fundraising (Martin & Elzbieta), Transformer editor (Elzbieta), Treasurer (Joe), etc. And there may be jobs that are not currently being performed that need to be added. Ultimately, the board needs to decide what jobs if any should be converted to paid positions.

ACTION: The committee recommends that the board ask key volunteers and stipended staff perform a desk audit, tracking the activities they are performing, and how many hours they are putting into each.

• 1. Seattle Goal: Provide fiscal supervision for local chapters providing administrative services such as liability insurance.

AVPUSA could look into providing services to local chapters under an umbrella program -- including insurance coverage, treasurer/bookkeeping, website and communication, fundraising, database management, etc. AVPUSA could provide a series of services, in keeping with AVPUSA’s needs [bookkeeping, website, PR, etc.] and charge for those services. This also fits with the discussion of paid services above.

There are professional organizations that provide such services; AVP Colorado uses a “Fiscal Sponsor” agency that provides a wide range of services, for 9% or annual revenue or $450 a year, whichever is greater.

Action: The committee will seek to quantify the professional services that are being provided by volunteers, and determining to what extent we might be able to procure those services through a professional provider, either individually or through an organization.

Action: Margaret Browne will look into her fiscal sponsor and see whether they could take on a national organization.

Summary of Finance Committee Goals:

3 Month Goals:

• 1. Complete books for 2014-15 FY

  2. Fundraising appeal letter

  3. Seek a Desk Audit from key volunteers

  4. Investigate services of a Fiscal Sponsor

6 Month Goals:

• 1. Prepare and file necessary IRS documents

  2. Renew 501(c)(3) status, and facilitate renewal by local chapters

  3. Support 2016 Conference in reviewing its proposed budget

  4. Review Desk Audits and make recommendations as to what extent these positions might be professionalized.

  5. Investigate services provided by Fiscal Sponsor Organizations

9 Month Goals:

1. Formulate Budget for 2016-17 FY