Medical Library Association | Education : MLA Finance Manual

Education

MLA Finance Manual (Excerpt)
Fund Raising by Association Committees or Sections

Policy

The MLA Board of Directors oversees all fund raising activities of the association. This policy exists to ensure coordination of fund raising activities among various components of the association. Sections, committees, and other association units (except chapters) must notify the Board of Directors of their fund raising plans. If the plan is to raise more than $2,000, specific approval from the board is needed.

Between May and October 1, sections should not engage in fund raising for the coming year's annual meeting. Postponing fund raising until October 1, allows the NPC to carry out their efforts, which benefit the association. This schedule also avoids confusion among donors.

Sections that raise money by selling advertising in their newsletters do not need to notify the board or seek permission, because advertising in newsletters was approved by the Board of Directors in December 1988.

Fund raising for amounts under $2,000

The association unit should send an informational statement to its board liaison (or in the case of a section to the Section Council chair) with copies to the treasurer and the director of financial and administrative services. The statement should include the names of prospective sponsors, the amount of the support requested, and a description of the purpose for which funds will be raised.

Fund raising for amounts over $2,000

If the amount is over $2,000, the association unit should request approval from the board prior to seeking or accepting (if unsolicited) the donations. The unit should send its request to its board liaison (or Section Council chair in the case of sections), with copies to MLA's treasurer and the director of financial and administrative services. The request should include the following information.

1. An indication that board approval is sought for fund raising or for accepting outside funding (in the case of an unsolicited donation).

2. The date when board approval is needed.

3. A description of the purpose for which the funds are sought or accepted, with documentation on the importance and relevance of the project or activity to MLA and the potential results of not funding the proposal.

4. A list of the prospective sponsors or sources that will be approached in the case of fund raising.

5. The total amount of outside funding that is to be requested or accepted and a description of the time frame if relevant.

6. Evidence of the association's ability to carry out the activity or project if funding is received.

7. If an activity involves future funding commitments, the statement should describe long-range plans and possible sources of future financial support.

After, approval is granted to seek or accept outside funding, the association unit may proceed. All resulting agreements are subject to board approval. As negotiations proceed, the association unit must provide progress reports to its board liaison, (or in the case of sections, Section Council chair), the treasurer, and the director of financial and administrative services.

Approval

Board Action, December 1984
Board Action, December 1991
Board Action, September 1993