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SECTION & AFFINITY GROUP FINANCES 2012 LTC – New Orleans, LA – March 1 to 4

SECTION & AFFINITY GROUP FINANCES 2012 LTC – New Orleans, LA – March 1 to 4 Leonard A. Anderson, PE AndersonL@asme.org Mandy Cowgill BrogdonM1@asme.org Bill Robbins RobbinsW1@asme.org. OBJECTIVES. Overview of ASME Section & Affinity Group financial operations Links to ASME policies

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SECTION & AFFINITY GROUP FINANCES 2012 LTC – New Orleans, LA – March 1 to 4

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  1. SECTION & AFFINITY GROUP FINANCES 2012 LTC – New Orleans, LA – March 1 to 4 Leonard A. Anderson, PE AndersonL@asme.org Mandy Cowgill BrogdonM1@asme.org Bill Robbins RobbinsW1@asme.org

  2. OBJECTIVES • Overview of ASME Section & Affinity Group financial operations • Links to ASME policies • Merit-Based Funding Process and relationship to unit operations – budgeting and planning • Custodian Funds

  3. OUTLINE – Part I • Basics • Handout Inventory • Expenses • Income • Success Stories • Events • Section / Affinity Group Funds • Accounting • Financial Reports Manager • Questions • Continue on to Merit Based Funding

  4. BASICS • Expenses (Uses for Funds): What does an ASME Section or Affinity Group spend funds for? • Income (Sources of Funds): Where does an ASME Section or Affinity Group get its operating funds? • Fiscal Year: How does ASME’s Fiscal Year differ from the calendar year? (July 1 – June 30 vs. Jan 1 – Dec. 31)

  5. HANDOUTS • Overview of specific financial information - LTC_financial_handout_12.doc • Dayton Engineering Sciences Symposium.pdf • Event essentials – Events.doc • Custodian Fund Explanation.pdf • MBF handout - Sections.doc • MBF handout - Affinity Groups.pdf

  6. EXPENSES • Meetings, tours, conferences, short courses and special projects • Recognition, honors and awards • Support for officers and members to participate in ASME programs • Speaker programs • Scholarship programs • Newsletters and other member communications

  7. INCOME - MERIT-BASED FUNDING • Current method of providing funding to Sections and Affinity Groups from ASME’s Operating Budget; based on Units’ achievements • To be discussed in detail in the second half of this session

  8. SECTION INCOME - DUES STATEMENT • FY08 (1st yr) ~$95K; FY09 ~$87K; FY10 - ~$83K; FY 11 ~ $85K donated • FY 12 ~ $102K donated • Checks / EFTs should have been distributed by now for FY 12 • Consider sending out reminders to Members to renew and mention they can donate directly to the Section on their dues statement

  9. How Do We Raise Money?Ask for it! • Individuals: • Face-to-Face Asks • Direct mail, letter campaigns • On-line campaigns • Telethons • Special Events • Products sales • Foundations: • Submit letter of inquiry & proposal • ASME sources • Outside Foundations • Corporations: • Sponsorships • Corporate Foundation/Marketing • Matching gifts • Campaign gifts If Doing Any Major Fundraising, Check With Your District Leader to Insure You’re Not Interfering With Something Being Done by ASME or the ASME Foundation

  10. EXAMPLE OF A SECTION SUCCESS STORY:Interactive Discussion on the Dayton Engineering Sciences Symposium http://www.asmedayton.org/DESSMandy Cowgill BrogdonM1@asme.org

  11. PREMISE • Annual symposium • Local engineers present research • Commercial • Military • Academic • Commercial sponsors • Held at local university • Continental breakfast, lunch with speaker

  12. COST FOR ATTENDEES • Undergrad students (presenting) $0 • Grad students (presenting) $0 • All other students attending $25 • Keynote/luncheon only $30 • ASME members $75 • Non-ASME members $100

  13. GROWTH OF EVENT • 2011 was 7th annual event • 2005 • 6 ½ hr event • 11 sessions • 2011 • 9 hr event • 21 sessions and poster session

  14. LONG TERM BENEFIT • Extra funds to support • Student sections • K-12 STEM programs • Promotion of • Local section • Local companies • Host university

  15. DISCUSSION • Do you have any questions? • How many would consider replicating this program in your own Section? • Further info: • Mandy CowgillBrogdonM1@asme.org • http://www.asmedayton.org/DESS

  16. INCOME – ASME GRANTS • ASME Program Initiative Fund (Policy P-2.3) • ASME Foundation Grants (Policy P-2.11) • Breakthrough Grants • Enterprise Initiative Fund (coming soon)

  17. EVENTS • Levels of ASME Involvement: • ASME Sponsorship: ASME has total financial responsibility • ASME Co-sponsorship: Joint financial responsibility with another organization • ASME Participation: No ASME financial responsibility • Policy 12.1; updated

  18. Section & Affinity Group Funds • Monies from General Fund are disbursed by appropriations in accordance with Society Policy P-2.8. • Monies may be solicited for special activities in accordance with Society Policy P-5.3. (Policy 2.1, Section IV.A.1)

  19. Section Funds • ALL Units with bank or other financial accounts using an ASME issued tax payer ID must submit a bank statement in addition to the other annual ASME requirements • If statements not dated 6/30, submit statements “containing” 6/30’s date

  20. Section Funds Submit These Financial Statements by October 1: Scan and email to unitsupport@asme.org along with your unit name.  Please put "Bank Statement" in the subject line.  Upload an electronic copy of your statement via VERT at http://vorequest.asme.org/ Send it via fax to 212-591-7671.  Attention: Jessica Albert Send a hard copy to ASME to the attention of:Jessica AlbertMS 23S1ASMEThree Park AvenueNew York, NY  10016

  21. OPERATING FUNDS • Money kept separately in banks or other recognized financial institutions (distinct from Custodian Funds which are maintained by the Treasurer of the Society) • Each Section has a taxpayer ID • Each Affinity Group should acquire a taxpayer ID if they receive funding • Bank accounts should have at least two authorized signers

  22. Accounting Budget – required by ASME and useful tool Check signing authority Documentation – “paper trail” Audits – perform annually Accepting Credit cards – Acteva, etc.

  23. ASME Financial Reports Manager The Financial Reports Manager is a tool which allows Unit Leaders to view reports of their Custodian Accounts online Requires special authorization; usually given to Unit Chairs and Treasurers 23

  24. Accessing the ASME Financial Reports Manager The Financial Reports Manager can be accessed from the Unit Leadership Resource Center http://volunteer.asme.org/Unit/ Or, can be accessed directly at http://my.asme.org/financials/GLReports.cfm 24

  25. The “Premier Track – Resource Management – Financial Reports Manager” presentation will be posted on the 2012 LTC Web Site, at http://events.asme.org/LTC12/home.cfm Scott Carlson, P.E. carlsons3@asme.org 25

  26. QUESTIONS / DISCUSSION • Feedback on needs for ASME support for Sections & Affinity Groups in financial operations

  27. Part 2: ASME Merit Based Funding Program

  28. • Program Objectives Program Basic Facts Quick Review of the Section & Affinity Group Merit Funding Programs Practical Exercise Review Typical MBF Timeline Important Filing Requirements Benefit of Experience Contact Information Your Questions Discussion Topics – Part 2

  29. A system that recognizes achievement in meeting the Society’s objectives and adding membership value Ensure that all Units, regardless of membership size, demographics or geography have an opportunity to secure funding for future activities Develop criteria that are not prescriptive, but that set a roadmap and incentives for enhanced section or group performance Similar programs under consideration/development for Technical Divisions Program Objectives

  30. Covers program year starting July 1 to June 30 Mandatory Prerequisites: In order to qualify for funding, each Section must have submitted the required Annual Financial Report, Operations Budget Report, and Merit Funding form between July 1st and no later than October 1st A current list of section officers must also be on file with ASME Unit After Activity Reports are components of the reporting criteria Section Merit Funding

  31. Reporting Criteria with varying weights: Section Communications Section Activities for Members Provide Opportunities for Members’ Professional Growth Aid in the Development of the Engineering Workforce Section Operations Section Growth and Sustainability Partner with Engineering Organizations (Districts G – J) Grade x Weight = Score , Add Scores From all Criteria = Total Score Note: Not all section activities can be captured by a single form. If a section has done an activity or program above and beyond normal programming they can include that for special consideration. Section Merit Funding - Overview

  32. Item 1 Section Communications Maintain a website with current officer contact information. (definitions on page 3 of form) Maintain regular communications with members: newsletters/meeting notices via website, direct mail, email, text message, social networking or other as appropriate to the section. (def’nspg 3 of form) Set up and maintain a new social networking site/page for section members (Facebook, LinkedIn, etc.) Utilize ASME list-server for communication with members – newsletters/meeting notices, direct mail, and email. NOTE: Weighting for Item 1 is Unchangedvs 2011. Section Merit FundingContinued

  33. Item 2 Section Activities for Members General membership activities held, such as technical meetings, socials, tours, webcasts, industry meetings, History & Heritage events, etc., with corresponding ASME Unit "After Activity Report” must be submitted within two weeks of the activity (Item 5 includes grade points for Executive Committee Meetings which are NOT eligible for this category.) Collaborate with other ASME Units / Sectors, technical and professional societies and other educational organizations by organizing joint events and activities (definitions on page 3 of form) NOTE: Weighting for Item 2 is Unchangedvs 2011. Section Merit FundingContinued

  34. Item 3 Provide Opportinities for Members’ Professional Growth 1 Point for EACH activity (Max 3 points): Sponsor or conduct a short course or other professional development activity (seminar, workshop, etc.) Earn one point for EACH 2 PDH “eligible event” offered – You can accumulate more than one point per activity, or can add two 1 PDH activities together to equal 2 PDHs. (Note: No more than 1 point can be earned from technical dinner meetings. See definitions, Page 3 of form.) 1 Point (Max 1 point): Send a delegate to the Leadership Training Conference (LTC) Section Merit FundingContinued

  35. Item 3 Provide Opportunities for Members’ Professional Growth Continued 1 Point (Max 1 point): One Member submitted by the Section for ASME District or higher Honor or Award Bestow local Section Honor, Award or Scholarship on one Section/Student Section Member (see definition, Page 3 of form) NOTE: Weighting for Item 3 is Unchangedvs 2011. Section Merit FundingContinued

  36. Item 4 Aid in the Development of the Engineering Workforce Candidate Workforce Development Activities: Conduct a dedicated activity for students and/or early career engineers (networking event, student paper presentations, career night, early career forum, industry tour, etc.) Conduct a short course at a level appropriate for students or early career engineers Engineering related presentations to or interaction with K-12 schools, universities, or student sections Participation in engineering job shadowing / mentoring program, or Engineering Fairs / Symposium Section Merit FundingContinued

  37. Item 4 Aid in the Development of the Engineering Workforce Continued Sponsor an engineering workforce or university activity (E-Week, FIRST, Human Powered Vehicle Challenge, Student Professional Development Conference, etc.) that promotes math, science and engineering education. Engaged participation or volunteering is expected in addition to any financial sponsorship. NOTE: Weighting for Item 4 is Unchangedvs 2011. Section Merit FundingContinued

  38. Item 5 Section Operations Executive committee meetings held at least quarterly Conduct an annual program planning meeting Section has a representative participate in a Global Communities or District or Society related webcast Section submits an article or a best practice to bestpractices@asme.org Maintain current Executive Committee officer identification on the ASME master roster. Maintain Section operations by-laws document and have current copy on record with ASME headquarters. Maintain a section history (Current with the last three years). NOTE: Weighting for Item 5 is Unchangedvs 2011. Section Merit FundingContinued

  39. Item 6 Section Growth and Sustainability [5 Points, Max] Co-develop and/or organize an event with a Student Section Hold membership recruiting or retention campaign or event Personally contact and invite new members to attend section event or activity (as per new member list and guidance from ASME headquarters) Include an early career engineer (less than 10 years professional experience) on the Executive Committee Section Merit FundingContinued

  40. Item 6 Section Growth and Sustainability Continued Conduct one communication on how to make the most of your membership such as a presentation at a Section or Student Section meeting, or a newsletter article. Hold an early career event, resulting in at least 50% participation by early career engineers (less than 10 years professional experience). NOTE: Weighting for Item 6 is Unchangedvs 2011. Section Merit FundingContinued

  41. Item 7 Extent of Partnership with Local / National Engineering Organizations (NEO) Unique to Districts G – J (Non-N. American Dists) Hold coordination meetings with NEOs or other ASME Sections Assist in negotiations for joint benefits with NEO Representative to committees of local / national bodies Hold joint technical talks / seminars with NEO / other ASME Sections Etc. (See MBF handout / form) NOTE: Weighting for Item 7 is Unchanged vs 2011. Section Merit FundingContinued

  42. Four grading levels (Excellent; Good; Fair; and Funding Withheld); The goal is for all sections to achieve “Excellent” status Funding formula – 100% for Excellent; 75% for Good; 50% for Fair; and Zero for ‘Funding Withheld’. Funding formula takes into account unit size, 100% Amount = $x per member for first 250 members, plus $y per member for each member over 250 members. For FY ‘12 formula x=$10.00 and y=$5.45. (Same as FY ‘11) Current funding (FY12) is $400K; FY11 was $375K; FY10 was $367K; FY09 was $390K; FY08 was $350K; FY07 was $230K). Should have been completely distributed by LTC. Program Details: Updated for ‘12 NOTE: There is NO 15 Point Bonus Added For FY ‘12

  43. Changes Upcoming for FY ‘13 (July 2012 to June 2013; NEXT ASME Year) Scoring will be “normalized” to 100 points, max Grading levels will be adjusted accordingly Item requirements will remain unchanged Section Merit FundingContinued

  44. Similar requirements to Section Merit Funding program. Deadline for submittal is October 1. Mandatory Prerequisites: In order to qualify for funding, each AG must have submitted the required Annual Financial Report, Operations Budget Report, and Merit Funding form A current list of AG officers must also be on file with ASME Unit After Activity Reports are components of the reporting criteria Affinity Group Merit Funding

  45. Reporting Criteria with varying weights: Governance - 2 points max Communications - 4 points max Activities - 4 points max Growth - 3 points max Fundraising - 2 points max Scoring % Score = # of points x 10 0 - 50% = No Funding 51% - 100% will receive percentage of funding equal to score Funding Up to $500/year is available to each AG to fund group activities Affinity Group Merit FundingContinued

  46. Practical Exercise (Exercise based on section operations.It is applicable to Affinity Groups as well, but timelines may be different.)

  47. June – Consider MBF as Unit plans next year’s program July 1 through Oct.1 – Units prepare all necessary reports (Financial, Budget, Unit After Activity report) and file by Oct.1 July 1 through Oct. 1 – Units file Merit Funding Report – You will be notified that your report is received. Oct. 1 through Oct. 16 – ASME Unit Support to process and verify reports Typical MBF Timeline

  48. Oct. 1 through Oct. 16 – Leaders and ASME Unit Support staff to contact all units that did not submit reports Oct. 17 through Oct. 23 – Unit Support staff (using Merit Funding Formula) to determine funding levels Oct. 24 through Nov. 6 – Unit Support staff to complete payment authorizations and submit to ASME Accounting for payment Nov. 7 through Nov. 17 – Payment processing and distribution Consider calculating your Unit’s TENTATIVE MBF score at beginning of year – and tracking throughout – as your actual program evolves Typical MBF TimelineContinued

  49. File your unit’s reporting forms: Unit Budget & Financial Reports (no later than Oct 1) After Activity Reports (no later than Oct 1) Merit Funding forms (no later than Oct 1) All can be accessed on the Unit Leadership Resource Center http://volunteer.asme.org/unit/ Notify ASME of your section/group officers (no later than Oct 1): Section chairs have the option of directly entering officers online using the access to the online roster. If you have any questions on how to do this contact Jessica Albert at AlbertJ@asme.org. You can also submit a hardcopy of your officer listing. The forms are available on the Unit Leadership Resource Center under “Section Officers & Committees Information Form” Important Filing Requirements

  50. OPERATIONS BUDGET REPORT • Plan Development • Revenue Estimate • Expenditure Estimate • Plan Approval • Plan Submittal

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