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Effective Group Financial Management: Tips & Templates for Success

Explore crucial strategies for managing group finances like setting up bank accounts, tracking expenses, creating budgets, and utilizing operational tips. Access templates and guides for efficient financial coordination. Make informed decisions and enhance your group's financial health!

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Effective Group Financial Management: Tips & Templates for Success

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  1. Welcome to Managing Group Finances& OtherGroup Operational Tips

  2. Overview • Bank Account Information • The Expense Report • Expenses Tracking Spread Sheets • Creating a Budget Spread Sheets • The Coordinators Document Library • Tried & True’s and How To’s • Group Manuals • Website • Social Media

  3. Bank Accounts • Groups should open a bank account as soon as possible after obtaining their Employer’s Identification Number from the national office. • Most of the time, you will need the EIN letter and a copy of the bylaws when opening an account. • The group’s checking account should include the name of the group with authorized signatories of the treasurer and at least one additional coordinator who is not related to the treasurer. • All donations should be deposited into the account as soon as possible and a receipt of the deposit should be kept by the treasurer. • It is HIGHLY recommended that any expenditures for over $100 be approved by the group leadership of at least three people. This will ensure that the group is on the same page in terms of spending..

  4. The Expense Report • What goes where? • How do I keep track of it all? Expenses Tracking Spread Sheet. • What is considered an Income? • What is considered an Expense? • Let’s figure it out together….

  5. Expense Report - Financials Name& Address of Financial Institution_________________ Account Number____________________________________ Signatories (please print) 1. ___________ 2._____________ Group EIN Number: __________________________________

  6. Expense report - income A. Balance Carried Over from Previous Year: $ _________ B. Income 1. Special Projects/Fundraisers $ _________ 2. Grants $ _________ 3. Private Donations $ _________ 4. Interest Earned $ _________ 5. Other $ _________ Total Income for Fiscal Year (Jan 1 - Dec 31) $ _________ C. Combined Total (Items A & B.6) $ _________

  7. Expense report – income ANY monies given to the group, weather it’s from an individual, a business, from a fund raiser or ANY kind of special project.

  8. Expense report - Expenses 1. General a. Group Charter Fee $ ____________ b. Purchase of Merchandise $ ____________ 2. Educational a. MLH Coordinators’ Training $ ____________ b. Other Conferences $ ____________ c. Care Packages & Visiting Packets $ ____________ d. Funding for Research $ ____________ e. Other Support to Others $ ____________ f. Newsletter/Web site $ ____________ g. Advocacy $ ____________ h. Educational Programs $ ____________ i. Misc. $ ____________

  9. Expense report - Expenses • You MUST get a receipt for ANY spending. • KEEP ALL RECEIPTS!!!!!!!! • Write on the receipt what the expense was for! i.e. Dinner for MLH meeting 5/15/12 or Red folder for Care bags or Postage to mail Annual Dues to National. • Be specific. If needed, write on the back of the receipt. • Add donations to your Expense Tracking Excel Spread Sheet as you get them.

  10. Expense report - Expenses • NEVER Reimburse ANYBODY without a receipt. • If they do not have a receipt, then it will be considered a donation . • Non $$ monetary $$ donations are called “In Kind” donations. Be sure to add them to your Expense Tracking Excel Spread Sheet as you get them.

  11. Expense Report - operating a. Office Supplies $_________ b. Postage $_________ c. Member Events $ _________ d. Misc. $ _________ 4. Special Projects/Fundraisers $ _________ • Total Expenses for Fiscal Year $ _________ E. Balance on Hand at End of Fiscal Year $ _________

  12. Expense Tracking Spreadsheet • Expense Budget Template • Income Budget Template • Fundraising Budget Template

  13. Coordinators' Document Library • MLH Program Ideas • Fundraising Ideas • Marketing Your Group Tried and True • Awareness Tried and True  • Bereavement Tried and True • Welcoming New Families to MLH - PP Presentation

  14. Don’t re-invent the wheel… • New Member Letter • Visiting Follow Up Letter • Business Card Template • Thank You Card Template • MLH Letterhead Template • Letter to the Editor, Forming a Group • PSA • CHD Fact Sheet • CHD Cheat Sheet • CHD Issues from the Parents Perspective

  15. Group Manuals • New Group Development Manual  • Accredited Visitor Training Video (DVD) • Accredited Visitor Manual • Accredited Visitor Training Manual • Group Structure Manual • Treasurer Manual All Manuals, Tried and True’s, How To’s, and Spread Sheets are Available for download from the National Website and all are also on your Thumb Drive.

  16. Websites A Website…Where do I get one of those?????????????????????????????????? Meet our Website Guru Len Schendel…

  17. We Are Volunteers! MendedLittleHearts.net Site Hosting* Site address (sub-domain) Site Software (CMS) Custom Logos Tech Support Heart-Friendly Themes In today’s interconnected world, there’s no debating the necessity of having a website for your chapter. And now, there’s no reason to not have one! (Some of the content management systems available to .net users.) Visit www.mendedlittlehearts.net for more information or contact our technical support specialist: • Len Schendel • len@mendedlittlehearts.net • (210) 213-4642 *Hosting services courtesy of: (www.dreamhost.com)

  18. Joomla! is a very popular CMS and can be used to build a wide range of different website types. Joomla is powerful and a bit more flexible than the others, but it is more for the "tech savvy" user. Wordpress is a straight forward and easy to use system. Since it is originally designed for blogging, it will not be as flexible and customizable as the other systems mentioned. Although it is not as flexible, it is more for the "beginner user“ for a quick and easy website.   Drupal is a powerful and versatile CMS that has been around the longest. It will take a bit longer to master, compared to other systems. For that reason, it is not the best choice for those looking for a quick and easy solution. And then an underdog…Concrete5 is an up-and-coming CMS packed with a lot of potential. Offers both great features and very user-friendly The user base is growing fast, and the problem of lacking add-ons will probably solve itself!

  19. Social Media Facebook? Twitter? And all that Jazz …………………………… MeetRodney Masengale Social Media Guru

  20. Social Media Basic Guidelines for connecting with the CHD Community using Facebook & Twitter

  21. Facebook • All groups should be using the Fan Page format. • Keep up with what National is doing and click that Share button. • Stick with only MLH and CHD business. • Think of your visiting guidelines. • Interact, provide support, listen to your visitors.

  22. Twitter • A Huge Awareness Resource we are missing. • Connect to Facebook. • Join in when National has a “Twitter Party.” • Use Hashtags. Example: #CHD #MLH • Pay attention to what National is doing and hit that ReTweet button. • Use MLH in your user ID, such as @MLH_CHD

  23. Connect with MLH National • Ask for Help: Email Rodney Masengale, Social Media Chair SocialMedia@mendedlittlehearts.org • Connect on Facebook: http://www.facebook.com/pages/Mended-Little-Hearts-National-Organization/377812750472 • Connect on Twitter: @MLH_CHD • Connect on LinkedIn: http://www.linkedin.com/pub/mended-little-hearts-national-organization/41/b02/476

  24. QUESTIONS ?????? ????? ???? ??? ?? ?

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