Associations 101. OneFPA Chapter Leaders Conference. Who is FPA? How does FPA serve members 11/16/2015 NOVEMBER 20 22

Transcription

1 OneFPA Chapter Leaders Conference NOVEMBER Associations 101 Cynthia Flannigan, CFP, FPA of San Francisco Jorge Padilla, CFP, FPA of Miami Cynthia Jackson, FPA About FPA The Financial Planning Association (FPA ) is the principal professional organization for CERTIFIED FINANCIAL PLANNER (CFP ) professionals, educators, financial services providers and students who seek advancement in a growing, dynamic profession. Nonprofit organization classified by IRS 501(c)6: Section 501(c)(6) of the Internal Revenue Code provides for the exemption of business leagues, chambers of commerce, real estate boards, boards of trade and professional football leagues, which are not organized for profit and no part of the net earnings of which inures to the benefit of any private shareholder or individual. Who is FPA? FPA members adhere to the highest standards of professional competence, ethical conduct and clear, complete disclosure to those they serve and take part in FPA s One Connection for professional education, business success, advocacy and community at the national and chapter levels. FPA is truly an indispensable force in the advancement of today s CFP professionals. How does FPA serve members Professional Education Business Success Advocacy Community Managing the Chapter Managing the Chapter FPA Strategic Framework 1

2 President President-elect Chair (Past President) Secretary/Treasurer Directors Board Composition Minimum of 5 of board members Majority of board members are CFP professionals Directors total service not to exceed five years, unless extended by election as an officer Officers hold office for one year Governance Articles of Incorporation Bylaws Affiliation Agreement Budget Form 990 Annual reporting return that certain federally taxexempt organizations must file with the IRS. It provides information on the filing organization's mission, programs, and finances. Whistleblower policy Confidentiality Conflict of Interest statement Appropriate insurance Anti-trust policy Set organizational direction Provide oversight Ensure necessary resources Set Organizational Goals Strategic planning Determine the chapter s vision and mission Operational and annual plans Set goals and develop strategies to achieve them 2

3 Ensure Necessary Resources Retain capable executive leadership Ensure adequate financial resources Promote positive public image Ensure the presence of a responsible board Succession planning Provide Oversight Financial oversight Develop a budget and ensure that it aligns with actual financial activity Minimize risk exposure Director and Officers (D&O) Liability Insurance is provided through FPA national at a reduced rate General Liability Insurance Other E&O, event Provide legal and ethical integrity Evaluate the executive Evaluate itself Participate in the organization s governance Work on committees and task forces Attend chapter events Be an ambassador of FPA and the chapter Duty of Care - displays a level of competence when making board decision Stay informed and ask questions Prepare for and attend all board meetings. Duty of Loyalty Show undivided allegiance to the welfare of the organization Conflict of Interest Confidentiality Duty of Obedience Stay faithful to the mission of the organization Act in the best interest of the organization and do not use the board for personal gain. No action should be taken that is inconsistent with the organization s mission. 3

4 Governance Bylaws Articles of Incorporation Many boards hire a contractor, management company or staff for day-to-day chapter management. Most chapters are volunteer run organizations due to limited resources. It is important that each person s role is clearly defined. The board steers the organization providing strategic oversight and planning The staff provides the day-to-day management Building and Effective Chapter Executive/Board Relationship Clarify roles Strong communication Trust and respect Willingness to learn from each other Do you evaluate your performance at board meetings? What outcomes have you set to measure success? How are you evaluating your chapter executive? Sample Roles Symposium Membership Advocacy Board Responsibility Content, speakers, sponsorship Set goals, work outreach plan, call prospective members, call lapsed members Understand the issues, provide insight and information to the chapter executive Staff Responsibility Help secure venue, market event, update Website Assist in developing marketing plan Communications about events, issues, policies 4

5 Questions? Contact Chapter Executive Contact FPA at