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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
[email protected] 1.800.344.8096 x404• DuWayne Jones, NCMA Treasurer at
[email protected]• Mary Beth Lech, NCMA Chapter Relations
Manager at [email protected] 1.800.344.8096 x419
• Whitney Taylor, NCMA Chapter Development Committee Chair at [email protected]
