Finance Committee Details 7-19-01

Chair Kent Peterson
Bill Sweet
Sharron Humenick
Advisors: WO Mills
Debra Pascale-Bonaro
William McDonagh

Role and Responsibilities

  1. To project a budget for aTLC, building upon committee proposals, for income and expenses for coming period
  2. To prepare financial reports quarterly showing actual income and expenses for previous period, and to present these to the Board semi-annually
  3. To create a procedure for tracking "in-kind" contributions and to identify expenses that will be repaid when sufficient moneys are received (Marilyn, 21st Century, Jack, Sharron)
  4. To develop a fundraising strategy, which includes potential resources and a plan for tapping them
  5. To encourage active involvement of other aTLC board and committee members in budgeting, project planning, and fundraising efforts
  6. To provide leadership in approaching private foundations, community organizations and government agencies to solicit funds, working with committees, grant writers, and fundraisers as appropriate
  7. To oversee efforts of our accountant to file necessary tax returns and submissions to maintain 501-c-3 tax exempt status

Short-term Goals (1 year)

  1. Projected budget, quarterly reports, tracking of "in-kind" contributions, moneys owed, IRS submissions, etc.
  2. Fundraising strategy completed and used to successfully raise funds (success defined below)
  3. Loans repaid to 21st Century Healing Arts for conference calls and other basic organizational support
  4. Executive Secretary paid for all work completed to date
  5. Ongoing conference calls are supported
  6. At least one major grant proposal submitted

Long-term Goals (2-5 years)

  1. Full-time executive director and staff
  2. Board members travel and expenses paid for all aTLC activities
  3. Working collaboration among experts and aTLC alliance partners are supported
  4. ATLC committees have had innovative projects funded that promote aTLC mission

Strategies

  1. Finance committee holds monthly conference calls to accomplish short-term objectives.
  2. Committee reports to the Board at semi-annually, and more often as necessary.
  3. Committee to develop expense reimbursement forms

Needed Policies

  1. Policy re scholarships to support travel to and expenses of aTLC meetings
  2. Meeting planning committee to develop budget for each event
  3. Ownership of aTLC intellectual property and its use for personal financial gain