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Ensuring the Future of the Arthur W. Page Society

Ensuring the Future of the Arthur W. Page Society. Finance and Development. Helen Ostrowski. Committee Members. Kristen Bihary Tim Fitzpatrick Michael Goodman Rob Gould Ray Jordan Deb Miller Helen Ostrowski Pat Wright AWPS President. Background.

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Ensuring the Future of the Arthur W. Page Society

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  1. Ensuring the Future of the Arthur W. Page Society Finance and Development Helen Ostrowski

  2. Committee Members • Kristen Bihary • Tim Fitzpatrick • Michael Goodman • Rob Gould • Ray Jordan • Deb Miller • Helen Ostrowski • Pat Wright • AWPS President

  3. Background • We envision the committee evolving to embrace a policy role for the Society around the short- and long-term financial health of the Society • Strong financial health means not only sustainability, but also affording new/different activities critical to realizing the AWPS vision. • This will likely entail changes to our financial model, which is reliant mainly on dues and meeting attendance fees, as well as sponsorships to close the financial shortfall of two major meetings.

  4. Objectives • Ensure short- and long-term financial health of the Society • Create a sustainable financial model with new revenue streams that enables growth We will develop recommendations for: • A robust and ongoing development and sponsorship effort • New revenue streams, including monitizing our thought leadership for non-members (with the Thought Leadership work group) • Investment strategy and operating reserve • Membership dues, renewals and levels (with the Membership Committee) • Financial principles to guide an emerging new financial model for the Society (with President) • The 2011 budget (with President)

  5. Key Questions • Development/Sponsorship: What should development monies be devoted to, vs. sponsorships? Why do we get what we get? How can we increase giving most effectively? What is the board’s role/obligation, e.g. ‘give or get’? • Investments: How much operating reserve should we have on hand? How much more do we need in reserve and for what purpose? How does this impact our current investment strategy? • Revenue Streams/Thought Leadership: What elements of current/emerging thought leadership have the most value? Are non-members willing to pay for them? Does the organization agree these should be monitized? How would this affect our partnerships? What models work for other organizations? • Membership: Is our membership base ‘aging’; if so, what is the potential financial impact? What is our history of renewals; would incentives/penalties shorten the re-sign time? Should we increase dues next year? Should we redefine current membership levels and dues structure (e.g., retirees, people in transition). What would the impact of a ‘Page Two’ be? • Programs/Initiatives: Should all our programs be self-funding? What about new programs at their inception? How should we treat any positive balance from our programs? Can we afford to continue to put the current mix of resources and budget into two major meetings? • Staffing/Admin: Is our current staffing model adequate/appropriate to the future? Are we making good use of our administrative budget?

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