ORIGINAL: J_R
Well, I have blown my New Year’s resolution not to engage Horrace Cain again this year. I swore to myself I just was not going to do it again this year. Horrace is pretty good at pulling my string. So… I lost. He picked and picked… I responded. I am going to renew the vow. Wish me luck.
JR, you posted this on April 1st. Quite a joke!
I would like to discuss this year’s EVP election.
First, Horrace will be nominated for the position, by his local friends, if no one else. If less than three viable candidates are nominated, he will be on the ballot. It’s about that simple (my opinion). That’s all I have to say about Horrace.
Not asking any friends. If no one from this forum has adequate concern for AMA's future and is willing to do something to obtain significant change in AMA, then there will be no nomination.
The EVP position is unique. Under the AMA bylaws, the empty title of CFO is awarded to the EVP. The CFO has no inherent power, other than to monitor operations and issue reports. Virtually every action as CFO requires a motion by the EC. If the EC has no faith in the EVP, it’s unlikely motions will be made or passed. Instead, outside services may be purchased.
The EVP position has developed into something unforeseen when the bylaws were changed in the ‘80’s. The position described in the by-laws is no longer what is asked for by the EC, or required for the operation of the AMA.
//snip//
If you or someone you know is truly capable of performing as the CFO of a $25 million non-profit (Dave Brown’s estimate of value), run yourself, or try and talk them into running. At least in my opinion, the time has passed where the job can be handled by an amateur. Candidates need to be a CPA and a tax expert in non-profits, with some experience in running a non-profit (my opinion). Finding people like this is not easy, since it pays nothing.
Answers. com says;
Chief Financial Officer - CFO
"This is the senior manager who is responsible for overseeing the financial activities of an entire company. This includes signing checks, monitoring cash flow, and financial planning"
"Whereas a UK Finance Director is commonly a chartered accountant, it has become commonplace for non-accountants to become CFOs in the United States. Indeed, many CFOs have an MBA
but no CPA or other accounting qualification."
Perhaps, as the EC tried to do, it is time to rewrite the by-laws. Maybe moving the CFO part of the position to a paid staff position is an idea whose time has arrived. Perhaps the EVP should be a Director on the Board of Directors (EC) and not have the CFO position included in the duties. Perhaps the AMA can continue to find a qualified volunteer willing to hassle with the politics to fill the position. I don’t know.
At last JR you said something smart. You said "I don’t know." very true.[>:]
Wikipedia says: >>>"
The CFO typically reports to the Chief Executive Officer, and is frequently a member of the board of directors.<<<
Investopedia Says: >>>The CFO is similar to a treasurer or controller.<<<
In an association organized for the purposes such as AMA is so organized, the LAST thing I want is to see the CFO a PAID EMPLOYEE. AMA has a paid comptroller and that person is under the Ex. Director. If that person also became the so-called "CFO", then the Ex Director having power to hire and fire said CFO WOULD ENTIRELY CONTROL THE FUNDING OF AMA.
Anyone that would desire such a situation either already has his/her finger in the pot, or plans to join the finger party very soon, or is entirely ignorant of such potential.
First, the position, as defined in the by-laws.
Section 4. The Executive Vice President shall be the Chief Financial Officer of the AMA, shall monitor the financial and corporate affairs of the AMA, make an annual report to the membership regarding the financial affairs of the AMA; and shall make periodic reports, not less than quarterly, to the Executive Council regarding financial matters of the AMA, and shall assume the duties of the President in the event of a vacancy as described in Section 2. until such vacancy is filled.
That is simply what he WILL do. There are infinite items that the CFO is NOT restricted from. Anyone with the power to control the purse strings also can control the hearts and minds. Big Business evidences that on a daily basis.
Reference the MA column, as an EVP, I would report everything I knew of AMA's financial position, both current and planned.
If I received flack from the EC, then I simply would establish a web site restricted to AMA members, as well as it could be, and the info would be there. Hardball can be a favorite game for me.
While I believe the AMA should be administrated as a business, I also believe that the policy makers should be active model airplane people first and foremost. In addition, each department of AMA administrative functions should pull its own weight.
Any commercial enterprise must pay its own ticket.
As I have stated in other posts in this forum, the best return-on-investment in this AMA is to obtain more members and retain those we get and/or have. So AMA member, if you like to think this is YOUR AMA, again you have an opportunity to do something about returning the current AMA to a member-oriented AMA. If I don't get nominated from here then its over as of June 08. If I do, then we will really get to see just how sincere you are.
Your Choice? [8D]