1 Investing in Your Chapter DuWayne Jones, CPCM, Fellow NCMA Treasurer Michelle Currier, CPCM, CFCM, Fellow NCMA Past President Members, NCMA Board of Directors

The Chapter Financial Responsibilities Safeguard assets Collect payment Deposit funds Pay bills on time Maintain accurate records Prepare and update budgets and estimates

Chapter Financial Responsibilities Integrate chapter business model or plan with a financial plan Arrange for the annual audit Prepare annual financial report Acquire IRS Federal Tax ID # for chapter Submit reports INVEST

INVEST? It is OK to set aside funds for the rainy day It is OK to have a cushion of operating expenses set aside in –Savings accounts –Money market funds –Laddered CDs

How BIG is that cushion? How much should be in your rainy day fund? –Do you have a chapter annual big money making event? One day educational seminar NES Business expo

How BIG is that cushion? Let’s do some calculating for the Peoria chapter. –Chapter holds 4 lunches a year. Average income is $750 and average expenses are $700 per event –Chapter hosts NES and average income is $10,000 and expenses are $8,000 –Chapter hosts a one day conference every year and average income is $5,000 and average expenses run $2,000

Let’s calculate and discuss

What to do with the excess? Let’s say the chapter cushion should be $10,000 And let’s say that the chapter has financial assets of $25,000 What can they do with the ‘extra’?

How can you invest in your chapter? How do you price your events in your business model? Do you send your chapter leaders to national events like Leadership Summit or Mid Year? Do you have scholarships? Do you support CMLDP? Do you have chapter marketing items? How do you thank your volunteers? Do you have fun?

Let’s come up with a list

Your NCMA Resources Sam Smith, NCMA CFO at x404 DuWayne Jones, NCMA Treasurer at Mary Beth Lech, NCMA Chapter Relations Manager at Whitney Taylor, NCMA Chapter Development Committee Chair at