June 2016 Finance Committee Action Items, Report and Leadership Scholarship Docs

Post date: Jun 10, 2016 8:22:21 PM

The Finance Committee met on Thursday June 9th, 2016. We approved the updated and amended 2016-17 FY Budget (See Treasurer report), and recommend it to the Board for approval.

Finance is seeking Board guidance on how to proceed on the topic of Directors Insurance. The Committee feels this is an important step to take to protect the personal assets of board members against the possibility of lawsuit.

Finance is considering creating two subcommittees:

a. Fundraising/Planned Giving -- the subcommittee would handle existing and new fundraising strategies, including Estate and Planned Giving efforts, possibly in coordination with local AVP affiliates.

b. Intellectual Property/Spin-offs -- the subcommittee would examine the viability and initiate efforts to (re)trademark the AVP name, establish copyrights for mandala, manuals and other intellectual property, and establish other revenue streams for AVP/USA and local organizations. The subcommittee would work with the Education task group looking into the viability of Spin-offs, establishing this area as a possible revenue stream in support of AVP/USA.

We are speaking with individuals who have expressed interest in one or more of these areas. If you know of individuals who have skills and callings in these or related areas, please encourage them to reach out to Chad Dell, cdell@monmouth.edu.

Finally, while not a Finance Committee effort, I'm attaching documents related to the Leadership Fellows program. Description and Application forms are included.

Respectfully submitted,

Chad Dell, co-clerk

AVP/USA Finance Committee