Financial Development Committee 

Purpose 

The Financial Development Committee is a committee of the Advisory Board established under Article 6 of the Bylaws. The Committee’s purpose is to support the Board with organizational growth, financial stability, and sustainability. 

Membership 

  1. Only currently active Advisory Board members may serve on the Committee. The Board will appoint members of the Committee and the Chair of the Board will appoint all Committee Chairs each to serve for a three-year term. Appointment to the Committee requires a majority vote of the Board Members then in office. 
  2. The President/CEO and the Chair of the Advisory Board may not serve as Committee Chair. 
  3. The Board may fill vacancies on the Committee. The Board may remove a committee member from the Committee at any time, with or without cause. 

Operations 

  1. The Committee will meet with such frequency as it may determine, but no less than four times annually unless otherwise directed by President/CEO or Board Chair. The Chair of the Committee will preside over Committee meetings. A majority of Committee members will constitute a quorum. Committee approvals will require a vote of a majority of the Committee members present at a meeting at which a quorum is present. 
  2. The Committee will report its activities to the Board on a regular basis and will keep minutes of its meetings. 
  3. Unless the Committee otherwise directs, the President/CEO may attend all Committee meetings. 
  4. The Committee may invite any non-Committee member to attend meetings or meet with Committee members upon written notification to the President/CEO and the Chair of the Advisory Board from the Committee Chair. 
  5. The Committee will review this charter periodically and recommend any proposed changes to the Executive Board for review. The Board may amend this charter at any time. 

Responsibilities 

  1. Work with management to develop long-term and annual fundraising strategies and plans that will generate the funds needed to sustain a financially well-positioned organization. 
  2. Monitor execution of fundraising plans, including performance against plan, cost-effectiveness, and compliance with legal and ethical standards. 
  3. Engage directly with existing and potential donors. 
  4. Facilitate active board member participation in fundraising, including board member interactions with existing and potential government, foundation, corporate and individual donors, attendance at events and personal giving. 
  5. Make recommendations regarding the development and cultivation of major gifts from individual and from corporate/community foundations. 
  6. Work collaboratively with the President/CEO and the Finance, Audit, and Risk Management Committee on the development of the organization’s annual operating budget to inform financial/funding gaps. 

Proposed May 2, 2024, Adopted