Mac Treasurer S Report

MAC TREASURER’S REPORTSPRING 2011

To begin, many thanks to former treasurer, Craig Wright for facilitating the transfer of duties over this past year and for answering numerous emails and calls to clarify the various tasks and responsibilities of the position. Although the MAC meeting manuals are exceedingly helpful in keeping me on track for meeting-related procedures, many tasks assigned to the treasurer are not well-documented and I strongly encourage MAC to create a comprehensive procedural manual for the future.

FINANCES

MAC’s finances continue to be in very good shape. As of March 31, 2011, assets in MAC’s two checking accounts are $153,852.32 (BoA: $60,629.83; Chase: $93,222.49); the balance in MAC’s Lincoln Investment Accounts is as follows:

$ 19,497.49 (Motley)

$ 53,119.08 (Investment Reserves)

$ 20,003.97 (Bowen)

$ 38,010.91 (Operating Reserves)

TOTAL: $130,631.45

An overview of overall assets:

December 31, 2007$259,435.96

December 31, 2008$195,490.86

December 31, 2009$220,031.89

March 31, 2010$265,909.02

March 31. 2011$284,483.77

The recommendations of the recently established Investment Advisory Committee (IAC), and its investment policy statement will provide an important framework for managing MAC’s assets in the future.

MEMBERCLICKS

Memberclicks continues to be a frequently used tool for MAC members both for renewing memberships, registering for conferences, and for making donations. But while keeping track of donations I also noticed that the options/categories for donations vary between our print and on-line forms, which I hope to correct after discussion at our meeting. Furthermore, although there is some institutional history on this matter, acknowledging donations has not been consistent, especially now that many donations are submitted on-line. Again, I hope to receive Council input in developing standards that we can implement shortly. Finally, with the help of Webmaster, Erik Moore, and Vendor Coordinator, Carrie Daniels, vendors now have the option to use credit card payments for advertising, sponsorship, or meeting exhibit fees through MAC's on-line Exhibit & Advertisement Payment Form.

As Craig cautioned in his report in 2010, there are real costs associated with offering the convenience of on-line payments to members through Memberclicks. In 2010, MAC was charged $2,610.70 in fees from credit card vendors ($894.66 for a percentage deduction per transaction; $1,716.04 in monthly fees). These charges were in addition to monthly Memberclicks charges, which also fluctuated based on activity level, and which totaled $2,889.36 in 2010. I recommend that Council consider implementing a modest dues increase of $5-10 per membership, in the near future to cover these costs.

OUTSOURCING OF AUDIT AND TAX PREPARATION SERVICES

I submitted an online RFP to the Association of Consultants to Nonprofits ( for audit and tax preparation services. ACN members offer a full range of consulting services to nonprofit organizations including marketing, fund development, strategic planning, capacity building, staffing, training, board development, program development, public policy, utilizing technology and legal services. Specifically to meet MAC’s needs, ACN members include consultants for auditing, accounting and financial systems, budgeting, cash flow projection, fund accounting, financial reporting, revenue and expense analysis, etc. The association may also be a good resource for locating an investment professional as recommended in the procedural guidelines of the Investment Advisory Committee (IAC).

Respectfully submitted,

Anke Voss