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2011-2012 Handbook www.alcv.net P. O. Box 4732 Thousand Oaks, CA 91359
Assistance League® of Conejo Valley a chapter of National Assistance League® 2011-2012 Handbook P. O. Box 4732 Thousand Oaks, CA 91359 (805) 379-5686—Messages email: [email protected] www.alcv.net ASSISTANCE LEAGUE of Conejo Valley (ALCV) is an all volunteer, charitable corporation organized to develop and administer a program of philanthropic service in the communities of Agoura, Moorpark, Newbury Park, Oak Park, Simi Valley, Thousand Oaks & Westlake Village. Assistance League of Conejo Valley 2011—2012 Handbook TABLE OF CONTENTS A. GENERAL INFORMATION Mission, Vision Statement, Presidents 3 Basics 4 Hours Form 5 Timeline 6 Board Meeting Dates 7 Regular Meeting Dates 7 History 8 Board of Directors, Committee Chairmen 9,10,11 About Us 12 B. PHILANTHROPIC PROGRAMS, RESOURCE DEVELOPMENT AND APPOINTIVE STANDING COMMITTEES C. Philanthropic Programs 13 Resource Development Activities and Events 14 Appointive Standing Committees 14 FINANCE, POLICIES AND STRATEGIC PLAN 2010-2011 Budget D. 15 Finance Policy 16,17 Record Retention 18-20 Conflict of Interest Policy 21,22 Code of Ethics & Whistleblower Protection Policies 23 Acknowledgments 24 Strategic Plan 25-27 Gift and Investment Policies 28-31 STANDING RULES AND BYLAWS Standing Rules 32-34 Bylaws 35-42 2 Assistance League of Conejo Valley 2011—2012 Handbook MISSION STATEMENT Assistance League of Conejo Valley is a nonprofit organization comprised of volunteers who identify, develop, implement and fund ongoing philanthropic programs to improve the lives of children and adults in our community. VISION STATEMENT Assistance League of Conejo Valley envisions its future as a leading volunteer organization locally recognized for providing support and opportunities to members of our community with a focus on enhancing the educational success of children and young adults. PAST PRESIDENTS Judy Jenkins........1995 Steering Committee Chairman Guild Presidents Judy Jenkins........…...1995—1996 Georgiana Harris .…...1996—1997 Judy Bottomley ...…...1997—1998 Daria Lippeatt .....…...1998—1999 Judith Robertson .…...1999—2000 Chapter Presidents Jojean Bartos………...2000—2002 Diann Wilson………...2002—2003 Sylvia Lodato………...2003—2004 MaryKay Doane….…..2004—2006 Shirley Eichhorn……..2006—2008 Eileen Hannemann…...2008—2009 Katherine Morrow…....2009—2011 3 Assistance League of Conejo Valley 2011—2012 Handbook BASICS Notify Hours Chairman if you are unable to attend a regular meeting. Hours calendar starts June 1st and ends May 31st. Recommended hours: VOTING MEMBER - 60 hours annually. NEW VOTING MEMBER - 40 hours by May 31st. Hours Form may be found on page 5 of this Handbook Completed Hours Form may be emailed or turned in to the Hours Chairman at monthly meetings. Always RSVP a day or two before any committee meeting. You are under no obligation to hold a meeting at your home. Annual Meeting – Installation and Luncheon RESPONSIBILITIES OF NEW MEMBERS 1. To attend the Orientation for New Members. 2. To attend Regular monthly meetings (see page 9) at the North Ranch Community Center and a minimum of five New Member Education Meetings (8:30 a.m. prior to Regular meetings). The first regular meeting will be held in September. New Member Education Meetings will begin with the October meeting. 3. To observe specific philanthropic programs and resource development activities (dates to be announced). 4. To fulfill the required activities on the Orientation Requirement Checklist. 5. To fulfill the recommended service to be accumulated by: ● Philanthropic programs and travel time ● Monthly regular, orientation and education meetings ● Telephone and computer work ● Resource Development activities and travel time ● Financial commitments- Fees and dues: • $25 one time only orientation fee • $85 annual dues (as a voting member) Membership recommendations can be found in the handbook under Standing Rules. Please direct any questions or changes to the Roster to Judy Convery, V.P. Membership. ABBREVIATIONS (For internal use only) AL ALCV OSB ASK SOS WEB SITES Assistance League® National organization Assistance League® of Conejo Valley Operation School Bell® Assault Survivor Kits® Spotlight on Seniors 4 Assistance League of Conejo Valley www.alcv.net National Assistance League www.assistanceleague.org Assistance League of Conejo Valley 2011—2012 Handbook Name: ______________ MONTHLY ALCV SERVICE HOURS month:___________ WHEN RECORDING YOUR HOURS, ASK YOURSELF THESE 3 QUESTIONS: 1) Was the time spent related to a specific philanthropic program or to the Philanthropic Programs Committee meeting? If your answer is “Yes,” enter it against that category below. 2) Was the time spent related to a specific resource development activity or event or to the Resource Development Committee meeting? If your answer is “Yes,” enter it against that category below. 3) Was the time related to attendance at a regular meeting? If your answer is “Yes” enter it against that category below If your answer to these 3 questions is “No,” the time counts as General Service. Enter in that category below NOTE: Calculate your time in 30 minute increments. Include all time spent on ALCV related activities including but not limited to: phone calls; computer work; travel time to meetings; preparation for meetings (including shopping for supplies, cooking, etc); storage unit work. Do not include strictly social activities, eg Fall Cocktail party, holiday lunch Remember to include your name and the month hours were worked Submit your Hours at the regular meeting, or to Hours Chair, Yana Packard Email: [email protected] or fax: 805 374 9415 (call first) CATEGORY PHILANTHROPIC PROGRAMS HOURS INSTRUCTIONS Backpacks Clothing Record all hours Dictionary which relate to Emergency Clothing a specific philanthropic program Literacy Assault Survivor Kits or to the Philanthropic Programs Committee. Home Alone Share-a-Bear Spotlight on Seniors Other philanthropic program events Philanthropic Programs Committee RESOURCE DEVELOPMENT Kitchens & Cooks Tour Record all hours which relate to Direct Mail a specific Resource Development Grants Program or event, or to the Other resource development events Resource Development Committee Resource Development Committee (typically 2 hours) REGULAR MEETINGS Submit one combined figure for all other ALCV activities. No detail required GENERAL SERVICE TOTAL HOURS Remember - your hours are very important to your chapter. We use them to let the know public about us, and to apply for grants. Revised July 2011 5 Assistance League of Conejo Valley 2011—2012 Handbook TIMELINE June • First regular meeting of fiscal year July/August • • No regular meeting New member informational meeting September • • • New member orientation Target Clothing Nights begin Assistance League National Conference November • Nominating Committee elected December • No regular meeting January • • Evaluation of philanthropic programs Recommendations from Resource Development Committee February • • Vote on recommendations from Resource Development Committee Recommendation from Philanthropic Programs Committee is presented March • Slate of new officers presented April • • • Vote on new slate of officers Vote on recommendations from Philanthropic Programs Committee Budget for upcoming year is presented May • • Kitchens & Cooks Tour ALCV Annual Meeting: Vote on budget for upcoming year and Installation of Officers. 6 Assistance League of Conejo Valley 2011—2012 Handbook MEETINGS REGULAR MEETINGS BOARD MEETINGS North Ranch Community Center 1400 N. Westlake Boulevard Westlake Village Social: 9:30 a.m. -10:00 a.m. Meeting: 10:00 a.m.-12:00 noon Unless otherwise noted, Board meetings are held on the second Monday of each month. 9:30 am Social Meetings to begin promptly at 10:00 am Unless otherwise noted, regular meetings are held on the third Monday of each month. Note: there are no regular meetings the months of July, August and December. DATE: HOSTED BY: DATE: Jun 13,2011 P. Johnson June 20, 2011 Jul 18, 2011 D. Huyette July, 2011 No Meeting Aug 8, 2011 P. Wagner Aug, 2011 No Meeting Sept 12, 2011 I. Brewer Sept 26, 2011* Oct 10, 2011 J. Horan Oct 17, 2011 Nov 14, 2011 M. Silver Nov21, 2011 Nominating Com Election Dec 12, 2011 K. McMurray December No Meeting Jan 9, 2012 J. Raphael Jan 23, 2012* Feb13, 2012 P. Marla Feb 27, 2012* Mar12, 2012 J. Anderson March 19, 2012 Slate of Officers presented Apr 16, 2012 J. Convery April 23, 2012 Officer Election May 14, 2012 P.Johnson - May TBA, 2012 Annual Meeting Officer Installation (In and Out Board) Jun, TBD 2012 New Officers June 18, 2012 *4th Monday 7 New Officers Assistance League of Conejo Valley 2011—2012 Handbook HISTORY GUILD PROGRESSION CHAPTER PROGRESSION Invitational Held…………………………………….…..May 5, 1995 Granted Guild Status by the National Board……..……..July 20, 1995 Operation School Bell………………………..………September 1995 Backpacks……………………………………..……..September 1995 Celebration ’96……………………………………....November 1996 “What If I’m Home Alone?.............................................January 1997 Celebration ’97…………………………………….…November l997 Share-A-Bear………………….………………….….November 1997 OSB Shoes and Socks…………………………….…November 1998 Sock-It-To-‘Em……………………………….….…..December 1998 Progressive Dinner……………………………….....…..January 1999 Kids’ Kastle................................................................... ...June 1999 OSB Nurse Kits (Emergency Clothing Kits)................... ....Fall 1999 Capital Fund………………………………………….December 1999 Lion King Tickets…………………………………….….March 1999 Wheels Through Time…………………………………..…April 1999 Transitional Living Care ............................................... ....June 2000 Screening Eyes Early .................................................... ....June 2000 Granted Chapter Status by the National Board………....July 20, 2000 Sharing our Best Cookbook……………………...September 2000 Chartering Ceremony................................................September 2000 OSB Clothing......................................................………Spring 2001 An Evening With The Stars ....................................…….March 2001 Assault Survivor Kits..............................................….…...Fall 2003 OSB Dictionaries......................................................September 2004 OSB Reading & Literacy ..........................................September 2004 On with the Show ........................................................February 2004 “Puttin’ on the Ritz” ........................................ ...…February 2005 Assisteens® Approved………………………...…………January 2006 Destination! Celebration…………………..……..……..February 2006 Celebration 2007 “Masquerade”……….…………..……..March 2007 Celebration 2008 “East meets West” .......................…….March 2008 Spotlight on Seniors................................................…….March 2008 ASK Hospitals’ Emergency Necessities.. .............….….....April 2008 Destination! Celebration………………………..….…..February 2006 Celebration 2007 “Masquerade”………………..….……..March 2007 Celebration 2008 “East meets West” .......................…….March 2008 Spotlight on Seniors.............................................…...….March 2008 ASK Hospitals’ Emergency Necessities ...............………..April 2008 Celebration 2009 “Swinging On a Star”….………..……..March 2009 Books & Looks Author Luncheon & Fashion Show...….October 2009 Kitchens & Cooks Tour w/ Wine Tasting Event ……….… May 2010 Books & Looks Author Luncheon & Fashion Show….. October 2010 Kitchens and Cooks Tour ………………………………… .May 2011 8 Assistance League of Conejo Valley 2011—2012 Handbook BOARD OF DIRECTORS, CHAIRMEN AND COMMITTEES ADMINISTRATION PRESIDENT Pam Johnson RECORDING SECRETARY Jo Raphael CORRESPONDING SECRETARY Melissa Silver TREASURER Assistant Treasurer Ingrid Brewer Jill Pfannkuch DIRECTOR OF EDUCATION Jill Horan DIRECTOR OF PUBLIC RELATIONS Photographer Jennifer Anderson DIRECTOR OF STRATEGIC PLANNING Pat Wagner ASSISTEENS COORDINATOR Preethi Marla PARLIAMENTARIAN Katso Morrow MEMBERSHIP VP MEMBERSHIP Assistant Judy Convery Fran Harrison Orientation Chairman Hospitality Chairman Hours Social Chairman Members At Large Gail Warekois Linda Bagaason Yana Packard Susie Cowen Carol Karm, Jan Fase, Kitty Newman, Judy Friedman, Ticia Bloomfield Preethi Marla Assisteens 9 Assistance League of Conejo Valley 2011—2012 Handbook BOARD OF DIRECTORS, CHAIRMEN AND COMMITTEES (Cont’d) PHILANTHROPIC PROGRAMS VP PHILANTHROPIC PROGRAMS Clothing Emergency Clothing Kits Dictionaries Literacy Share-A-Bear “What If I’m Home Alone?” Spotlight on Seniors Assault Survivor Kits DEBBIE HUYETTE Jennifer Anderson, Jill Pfannkuch Pam Loftus, Marilyn Stoll Sandy DeGennaro Kathy Jones, Jody Jacobs Sandra Hobson Gail Nathanson, Peggy Kaufman Eileen Hannemann, Jill Horan Linda Valentine School Liaisons: Conejo School District Conejo Glenwood Sandy DeGennaro Joyce Merkle Moorpark Kathy Jones Kathy Jones Carol Kobal Eileen Gould Arroyo West Campus Canyon Flory, Walnut Canyon Peach Hill Simi Valley Abraham Lincoln, Berylwood & Santa Susana Parkview Angie Carter Mary Lou Franz Angie Carter On Call Schools Las Virgenes Schools Weathersfield Madrona Aspen/Ladera Cypress Sycamore Wildwood Maple/Walnut Banyan Mountain Meadows Acacia Angie Koros Patty Fleming Barbara Minnehan Sandy DeGennaro Pam Loftus Patty Fleming Daria Lippeatt Mary Ann Kearns Linda Bagaason Daria Lippeatt Linda Bagaason 10 Assistance League of Conejo Valley 2011—2012 Handbook BOARD OF DIRECTORS, CHAIRMEN AND COMMITTEES (Cont’d) RESOURCE DEVELOPMENT VP RESOURCE DEVELOPMENT Perpetual Funding Direct Mail Campaign Community Newsletter Grants Kitchens & Cooks Tour Kally McMurray-Fisher Kally McMurray-Fisher Kally McMurray-Fisher Jennifer Anderson Judy Friedman, Mary Ann Kearns TBD APPOINTIVE STANDING COMMITTEES Finance Committee Eileen Hannemann Information Technology Committee Mari Hill, Mary Ann Kearns Website Administration National Database Forms & Review (Standardization) Internal Database External Database Chapter Newsletter Master Calendar Handbook Roster Mari Hill, Mary Ann Kearns Lilian Smyth Mari Hill Mary Ann Kearns Sylvia Lodato Judy Friedman Jody Jacobs Mari Hill Lovita Vandenberg 11 Assistance League of Conejo Valley 2011—2012 Handbook ABOUT US Assistance League of Conejo Valley is one of more than 120 chapters of Assistance League, a national nonprofit organization that puts caring and commitment into action. In 2010-2011, 175 dedicated ALCV members and Assisteens auxiliary members, volunteered over 13,000 hours and touched the lives of more than 8,000 people in Agoura, Moorpark, Newbury Park, Oak Park, Simi Valley, Thousand Oaks and Westlake Village through its philanthropic programs. Caring and Commitment in Action • Raised $107,000 in fiscal year 2010-2011 to return to the community. • Provided new school clothes and shoes for 1610 elementary school children. • Distributed 2370 CASEY bears to hospitals, Urgent Care Centers and local fire and sheriff departments. • Supplied clothing and toiletries to hospital emergency rooms, homeless shelters and Safe Harbor East, a facility for survivors of abuse, to offer dignity to those in need. • Distributed 387 backpacks and supplied emergency clothing kits to 36 local elementary schools. • Donated 100 dictionaries to third grade students. • Entertained more than 1025 seniors at local community senior facilities. • Tutored 60 students in reading during weekly sessions at a local elementary school. • Educated 721 third graders about how to deal with potentially dangerous situations through our “What if I‘m Home Alone?” program. 12 Assistance League of Conejo Valley 2011—2012 Handbook PHILANTHROPIC PROGRAMS We currently manage the following community-based programs serving children and adults in the communities of Thousand Oaks, Newbury Park, Oak Park, Westlake Village, Agoura Hills, Moorpark and Simi Valley. 1. Operation School Bell is the national philanthropic program of Assistance League with nearly every chapter providing clothing, classroom provisions or other needs to elementary school children across the country. Clothing program allows identified students to attend a shopping event at Target with a prepaid gift certificate. Children come with their families to choose their own new school clothing and shoes. These shopping events are staffed by our members. This is a signature program running consistently throughout all Assistance League chapters. Emergency Clothing Kits are stocked with school appropriate clothing, t-shirts, underwear, sweatpants/shirts, and hygiene kits. Dates are set for assembly and our liaisons distribute these kits to the school health aide where they are kept and replenished upon request. Literacy. Volunteers work with students in a reading lab or classroom to improve their reading skills, comprehension and speed. Dictionaries. Age appropriate English dictionaries are provided to third grade students and their classrooms. 2. Share-A-Bear provides teddy bears to local hospitals, fire departments and paramedics to be given to children in crisis. Since its inception in 1998, more than 20,000 bears have been distributed. 3. “What If I’m Home Alone?” is an interactive self-awareness program taught by volunteers to educate children on home and personal safety issues. Since 1996, the program has been presented to more than 8,000 elementary school children. It covers some very difficult personal safety issues in a comfortable and reassuring way. 4. Assault Survivor Kits containing essential items of clothing and grooming aids are provided to women and children who are referred to Ventura County’s Safe Harbor East and whose clothes are retained for evidence in a crime investigation. In addition, we provides emergency clothing and hygiene supplies to 2 local hospital emergency rooms for patients in need of clean clothing upon discharge. 5. Spotlight on Seniors. Ukulele players and singers provide entertainment at local nursing homes and special care nursing facilities for seniors. 13 Assistance League of Conejo Valley 2011—2012 Handbook RESOURCE DEVELOPMENT ACTIVITIES AND EVENTS KITCHENS & COOKS TOUR: Planned for a Sunday in the spring, this fundraising event will feature homes with unique kitchens. DIRECT MAIL CAMPAIGN: The 2011-2012 Direct Mail Campaign, has a two-fold purpose: (1) To solicit funds from the community which enable us to support our many philanthropic programs and (2) To function as a public relations tool allowing us to make our name known and keep our name visible in the community. GRANTS: The Grants Committee researches grant opportunities, prepares grant applications and makes presentations on request. Training is provided. PERPETUAL FUNDRAISING: • Tribute Fund: is an ongoing opportunity for members, families, friends and the community to make a donation “in memory of,” “in honor of,” “in celebration of,” or “just because.” Donations will be highlighted in the chapter newsletter and acknowledged with a letter of thanks. • Escrip · Community Partners · Ralph’s Community Contributions Program · Gelsons scrip. These programs provide ALCV with a percentage of the sales amount based on the program criteria. APPOINTIVE STANDING COMMITTEES FINANCE COMMITTEE Reviews and approves the insurance as requested by the Board; develops and presents the budget for the next fiscal year; prepares documents such as Conflict of Interest Policy, Finance Policies and Investment Policies; reviews the monthly financial statements; and all other finance business as it arises. INFORMATION TECHNOLOGY COMMITTEE Is responsible for managing the internal and external communications of the chapter and consists of the website, chapter newsletter, master calendar, internal and external databases, National database, roster, handbook and forms/review (standardization). 14 Assistance League of Conejo Valley 2011—2012 Handbook BUDGET APPROVED BUDGET 2011-2012 SUPPORT & REVENUE Contributions - Unrestricted Cash Grants Interest/Div.-SSB Operating A/c Total Contributions/Grants/Interest Income MANAGEMENT & GENERAL 15,000 AL Conference and Meetings 1,500 Education 50,000 Facility Rental Expense 100 66,600 Fundraising Direct Mail Campaign Special Event #1 Assisteens Fundraiser Total FUNDRAISING SUPPORT & REVENUE before Membership Member Dues & Fees Total SUPPORT & REVENUE 5,000 60,000 1,000 2,500 500 1,000 Office Supplies 100 Postage 100 Printing 750 Professional Services 2,000 Public Relations & Advertising 3,500 Shared Expenses * 693 66,000 Other Misc M&G 500 132,600 Total MANAGEMENT & GENERAL 11,643 13,500 146,100 MEMBERSHIP EXPENSE Expense AL Dues Expense PROGRAM SERVICE EXPENSE Assisteens dues to AL 500 Operation School Bell Membership Recruiting 500 Clothing Program 90,000 Dictionaries/ Literacy 3,000 Emergency Kits 6,000 Total Operation School Bell Assault Survivor Kits Home Alone Share-A-Bear Spotlight on Seniors Shared Expenses * Assisteens Philanthropy Philanthropic Projects Reserve Total PROGRAM SERVICE EXPENSE Hospitality/ Courtesy Total Membership Expense 99,000 Total Expense 1,200 4,200 1,500 6,700 144,929 Change in Surplus (Deficit) 1,171 Return to Community 79.99% 600 9,000 500 5,231 400 - * Shared Expenses include: 115,931 SUPPORTING SERVICE EXPENSE Distribution Center 4,800 Insurance 2,700 Special Event #1 6,000 Other facility costs 175 Banking Fees 1,000 Bank Fees 204 Shared Expenses * 3,455 Office Supplies 500 Other Supporting Service Expense Total SUPPORTING SERVICE EXPENSE 200 Postage & Printing 1,000 9,379 10,655 15 Assistance League of Conejo Valley FINANCE POLICIES The Finance Committee has the responsibility for the administration of the Financial Policies and ensuring compliance with National Assistance League policies and chapter policies. Any changes to the Finance Policies will be proposed and approved by the Finance Committee and approved by the Board and membership before taking effect. I. Dues A. Annual dues shall be payable on April 15th and delinquent on May 15th. Voting Membership $ 85 Non-voting Membership $110 An orientation fee of twenty five dollars ($25) shall be due upon acceptance of membership. B. Annually, the corporation shall pay to National Assistance League per capita dues of thirty five dollars ($35). C. Members joining after June 1 but before November 30 shall pay full dues. Members joining after December 1 shall have dues prorated. D. There shall be no refund of dues. II. Reimbursement policies A. General reimbursement 1. Only budgeted expenditures shall be reimbursed. 2. All expenditures of committee members shall be made with the knowledge and approval of the committee chairman. 3. Requests must be submitted to the Treasurer using the payment request forms with receipts attached and appropriate signatures. 4. Requests for reimbursement shall be submitted prior to the year end of May 31st. Expenses submitted after the deadline, shall not be reimbursed and shall be considered a donation. 5. Checks will be delivered as soon as possible. 6. Check signing a) All checks shall have two signatures. b) Blank checks shall not be signed. c) The Treasurer, President, VP Membership and Recording Secretary shall have signature authority on checks. d) Check signers shall review all check requests for accuracy and supporting documentation. e) The Treasurer will secure signature cards for the incoming Board after the April election meeting for signatures to be obtained at the May meeting. 16 2011—2012 Handbook B. Travel, Convention and Workshop Reimbursement Policy 1. Allowable expenses including Leadership Conference, Treasurer’s Workshop, travel expenses and registrations to National Assistance League Conference for the President as delegate, alternate delegate, and other representatives to Convention and other conferences shall be paid as determined by the Board. 2. Reimbursement for chapter related travel and/ or education expenses including Board Retreat, shall be budgeted and approved by the Board in advance of the expenditure. 3. Members shall attend full sessions of all conferences when the chapter has paid the registration fee. Attendees shall give an informative report from reimbursed conferences. 4. Chapter voting members who serve on National Committees shall be reimbursed a portion of their non reimbursed expenses per National meeting not to exceed $100. III. General Policies A. The Finance Committee is responsible for creating an annual budget of income and expenses for Board and membership approval, reviewing requests for changes to the budget and recommending appropriate action. The committee members shall serve a three-year term, one-third of which shall roll over each year to maintain continuity. B. Annual Budget 1. The Finance Committee shall distribute budget summaries in February to Committee chairmen for their input prior to budget meeting in March. 2. The Chairman of the Finance Committee shall present the budget at the April Board meeting for approval and to the membership at its April regular meeting in written form as a handout, in the newsletter or by email. 3. The members shall approve the budget at the May annual meeting. 4. Officers of the Board, committee chairmen and all members shall understand and operate within current fiscal year budget constraints 5. Proposed expenditures of unbudgeted funds in excess of five hundred dollars ($500) shall be presented to the Board and membership for approval. 6. Requests for budget increases shall be in writing and submitted to the Finance Committee. Proposed amendments to the budget shall be approved by the Finance Committee, the Board and the membership prior to any increases in expenditure. Assistance League of Conejo Valley 2011—2012 Handbook FINANCIAL POLICIES (Cont’d) C. D. E. F. G. H. I. J. K. L. 7. The fiscal year of this organization shall be from June 1 through May 31. The Finance Committee shall meet at least once a quarter. A majority of the Finance Committee shall constitute a quorum. The Finance Committee shall review the monthly financial statements of the Corporation prior to their being presented to the Board. The Finance Committee shall oversee risk management. The Finance Committee shall develop record retention procedures and backup procedures for vital computer files and financial information. The Finance Committee shall assist auxiliaries in creating budgets and procedures for approval as well as ensuring compliance with National Policies for Chapters and chapter policies. The Finance Committee shall recommend finance policies to the Board and membership regarding donations, contributed services, internal controls, self-dealing concerns for selling ventures, conflicts of interest, investment, and member reimbursement and cash advances. Member Financial Obligations 1. Members, including those on leave of absence, shall meet financial obligations for approved fundraising events. Members residing outside 60 miles from the regular meeting location are exempt from this obligation. 2. Members shall pay the designated cost of participating in member-only events. It is the responsibility of the member to pay for any commitment made even if they are unable to attend. For purposes of internal control the monthly bank statements and cancelled checks shall be opened and reviewed by the President or a member designated to do the monthly bank reconciliation. All deposits must be made in a timely manner. Specifically, funds received by the Treasurer or Assistant Treasurer shall be deposited in the bank no more than 5 days after receipt and no later than the last day of the month, whichever comes first. Assistant Treasurers shall be appointed by the President. 1. The Assistant Treasurer shall assume the duties of the Treasurer with the exception of signing checks and withdrawing funds. Assistant Treasurer shall assist the Treasurer in all related chapter duties. 2. The Treasurer may have as many Assistant Treasurers as necessary, with Board approval. 17 M. The Board shall approve the opening or closing of any bank accounts. N. A safe deposit box shall be maintained at a bank approved by the Board; contents are to be noted in the minutes of a Board meeting during the first quarter of the fiscal year. O. Board Designation of net assets (reserves) 1. The Finance Committee shall make recommendations to the Board for the reserve designation for one year’s program services, including direct and indirect costs. 2. Annually, the Board shall designate unrestricted net assets sufficient for one year’s operating budget including direct and indirect costs. 3. Designation for other specific needs may be made as considered necessary. P. The corporation shall maintain a sound financial position and shall have a Certified Public Accountant audit or review its financial statements annually. Q. The corporation may raise funds to purchase or rent property to house a program or activity; these funds shall become part of its philanthropic program. R. The corporation shall not act as a fundraising agent for individuals or other organizations. S. Professional Fees: All proposed professional service fees and contracts shall be approved by the Board and signed by the President. T. Grants 1. The Finance Committee shall review, prior to submission, all financial documents requested as part of the grant application. 2. Copies of all grant applications must be kept as part of the financial records. U. Contributions and in-kind donations 1. All letters accompanying cash contributions shall be kept as part of the financial records. 2. Acknowledgment letters shall be sent to all donors of cash and in-kind donations. These letters shall comply with IRS requirements. 3. Real property, stocks and bonds received as donations shall be sold in a timely manner. *** Assistance League of Conejo Valley 2011—2012 Handbook Record Retention and Destruction Policy In accordance with the Sarbanes-Oxley Act, which makes it a crime to alter, cover up, falsify or destroy any document with the intent of impeding or obstructing any official proceeding, this policy provides for the systematic review, retention and destruction of documents received or created by Assistance League of Conejo Valley in connection with the transaction of corporate business. This policy covers all records and documents, regardless of physical form, contains guidelines for how long certain documents should be kept and how records should be destroyed (unless under a legal hold). The policy is designed to ensure compliance with federal and state laws and regulations, to eliminate accidental or innocent destruction of records and to facilitate Assistance League’s operations by promoting efficiency and freeing up valuable storage space. Retention of various business documents is mandated by law as the retention period varies depending on the document. Equal care should be given to electronic documents and voicemail. Network and individual computer backup systems need systematic attention and should be part of regular risk management. Record Retention Corporate Records Bylaws and Articles of Incorporation Permanent Corporate resolutions Permanent Board, regular and special meeting minutes Permanent Conflict-of-interest disclosure forms 4 years (A listing of these documents shall be maintained with contents reviewed and noted in the Board minutes annually.) All Other Corporate Records Retention Period Accident reports and claims (settled cases) Accounts payable ledgers and schedules Accounts receivable ledgers and schedules Audit reports from CPA Bank records Bylaws and charter Cash receipts, cash disbursements and general journals Chart of accounts Checks (canceled - see exception below) Checks (canceled for important payments, e.g., taxes, purchase of property, special contracts, etc.) 5 years 5 years 5 years Permanently 5 years Permanently Permanently Permanently 5 years 18 Permanently Assistance League of Conejo Valley 2011—2012 Handbook Record Retention and Destruction Policy (cont’d) Contracts and leases (expired) Contracts and leases still in effect Corporate records (Articles of Incorporation) Correspondence (routine) with customers or vendors Correspondence (general) Correspondence (legal and important matters only) Deeds, mortgages and bills of sale Depreciation schedules Donor receipts (including thrift donor receipts) Duplicate deposit slips Employee personnel records (after termination) Employment applications Financial statements (end-of-year, other months optional) General ledgers and end-of-year trial balances Insurance policies (expired) Insurance records, current accident reports, claims, policies, etc. Internal reports (miscellaneous) Inventories of products, materials and supplies Invoices to customers Invoices from vendors Investments (expired) Investments (still in effect) Minute books of Board, regular and special meetings Payroll records and summaries Petty cash vouchers Property appraisals by outside appraisers Property records (including costs, end-of-year trial balances, depreciation schedules, blueprints and plans) Purchase orders Sales records Subsidiary ledgers Tax returns (federal, state, local) and worksheets, revenue agents’ reports and other documents relating to determination of income tax liability Time cards Trademark registrations Voucher for payments of vendors, employees, etc. (including allowances and reimbursement of employees, officers, etc., for travel and related expenses) 19 5 years Indefinite Permanently 5 years 5 years Permanently Permanently Permanently 5 years 5 years 5 years 5 years Permanently Permanently 5 years Permanently 5 years 5 years 5 years 5 years 5 years Indefinite Permanently 5 years 5 years Permanently Permanently 5 years 5 years 5 years Permanently 5 years Permanently 5 years Assistance League of Conejo Valley 2011—2012 Handbook Record Retention and Destruction Policy (cont’d) Electronic Documents and Records Electronic documents shall be retained as if they were paper documents. Therefore, any electronic files, including records of donations made online, that fall into one of the document types on the above schedule will be maintained for the appropriate amount of time. If a user has sufficient reason to keep an email message, the message should be printed in hard copy and kept in the appropriate file or moved to an “archive” computer file folder. Backup and recovery methods will be tested on a regular basis. Emergency Planning Assistance League’s records will be stored in a safe, secure and accessible manner. Documents and financial files that are essential to keeping Assistance League operating in an emergency will be duplicated or backed up at least every month and maintained off-site. Hard Copy Storage Tips: When storing boxes, put a “destroy after” date on the box so the records need not be reviewed each time. Putting a date on the label of an inactive file can make purging simple. When records to be purged are intermingled with records to be retained, the time necessary to sort through the files may outweigh the benefit of purging the records. In this case, the entire file should be retained. Electronic Storage Tips: If using electronic storage, be aware of possible changes in technology. Storage methods should be reviewed annually and converted as necessary. Computer system backup is essential, with determination being made regarding frequency and method of document file separation (i.e., financial date accessibility). When storing off-site, consideration should be given to ability in retrieving a single file, if necessary. Document Destruction: Assistance League’s Treasurer is responsible for the ongoing process of identifying its records, which have met the required retention period and overseeing their destruction. Destruction of financial and personnel-related documents will be accomplished by shredding. Document destruction will be suspended immediately upon any indication of an official investigation, or when a lawsuit is filed or appears imminent. Destruction will be reinstated upon conclusion of the investigation. *** 20 Assistance League of Conejo Valley 2011—2012 Handbook CONFLICT OF INTEREST POLICY Preface: 1. 2. 3. Assistance League of Conejo Valley (ALCV), as well as other National Assistance League (NAL) chapters, are public benefit corporations and are privileged with tax-exempt status under Section 501 (c) (3) of the Internal Revenue Code. To retain this tax exemption, the IRS requires that no part of the organization’s net earnings or assets may inure (i.e. accrue) to the benefit of private persons. Most charity watchdog groups are requiring a conflict of interest policy as part of a well-managed nonprofit organization. The Better Business Bureau and National Charities Information Bureau have indicated that organizations with conflicts of interest dealings will not meet their standards. Developing a written conflict of interest policy provides consistent guidelines for ethical transactions by chapter membership without regard to changing boards. This conflict of interest policy is designed to help directors, officers, employees and members of ALCV identify situations that present potential conflicts of interest and to provide ALCV with a procedure which, if observed, will allow a transaction to be treated as valid and binding even though a director, officer, employee or member has or may have a conflict of interest with respect to the transaction. The policy is intended to comply with any procedure prescribed in California statutes governing conflicts of interest for nonprofit corporations. Conflict of Interest Terminology: A. A Responsible Person is any person serving as an officer, employee or member of the Board of Directors of ALCV or any voting or non-voting member of ALCV. B. A Family Member is a relationship, such as but not limited to a spouse, parent, child or spouse of a child, brother, sister, or spouse of a brother or sister, of a Responsible Person. C. A Material Financial Interest in an entity is a financial interest of any kind, which, in view of all circumstances, is substantial enough that it would, or reasonably could, affect a Responsible Person’s or Family Member’s judgment with respect to transactions to which the entity is a party. D. A Contract or Transaction is any agreement or relationship involving the sale or purchase of goods, services or rights of any kind for value, 21 the providing or receipt of a loan or grant, the establishment of any other type of pecuniary relationship, or review of a charitable organization by ALCV. The making of a gift to ALCV is not a Contract or Transaction. E. Opportunity Tickets (Raffle): A Responsible Person who has Conflict of Interest in regard to a Contract or Transaction with ALCV Opportunity Ticket Sale shall adhere to the Conflict of Interest guidelines established by ALCV. See Addendum for guidelines. 1. Conflict of Interest Defined. For purposes of this policy, the following circumstances shall be deemed to create Conflicts of Interest under circumstances where it might be inferred that such action was intended to influence or possibly would influence the Responsible Person in the performance of his or her duties. This does not preclude the acceptance of items of nominal or insignificant value or entertainment of nominal or insignificant value which are not related to any particular transaction or activity of ALCV. A. Outside Interests (1) Contract or Transaction between ALCV and a Responsible Person or Family Member (2) A Contract or Transaction between ALCV and an entity in which a Responsible Person or Family Member has a Material Financial Interest or of which such person is a director, officer, agent, partner, associate, trustee, personal representative, receiver, guardian, custodian, conservator or other legal representative B. Outside Activities (1) A Responsible Person competing with ALCV in the rendering of services or in any other Contract or Transaction with a third party (2) A Responsible Person’s having a Material Financial Interest in, or serving as a director, officer, employee, agent, partner, associate, trustee, personal representative of, or consultant to, an entity or individual that competes with ALCV in the provision of services or in any other Contract or Transaction with a third party Assistance League of Conejo Valley 2011-2012 Handbook CONFLICT OF INTEREST POLICY (cont’d) C. Gifts, Gratuities and Entertainment – A Responsible Person accepting gifts, entertainment or other favors from any individual or entity that: (1) does or is seeking to do business with, or is a competitor of ALCV; or (2) has received, is receiving, or is seeking to receive a loan or grant or to secure other financial commitments from ALCV; or (3) is a charitable organization; 2. Procedures A. Prior to Board or committee action on a Contract or Transaction involving a Conflict of Interest, a director or committee member having a Conflict of Interest and who is in attendance at the meeting shall disclose all facts material to the Conflict of Interest. Such disclosure shall be reflected in the minutes of the meeting. E. Responsible Persons who are not members of the Board of Directors of ALCV, or who have a Conflict or Interest with respect to a potential Contract or Transaction that is not the subject of Board or committee action, shall disclose to the chairman or supervisor or their designee any Conflict of Interest that such Responsible Person has with respect to such Contract or Transaction. Such disclosure shall be made as soon as the Conflict of Interest is known to the Responsible Person. The Responsible Person shall refrain from any action that may affect ALCV participation in such Contract or Transaction. In the event it is not entirely clear that a Conflict of Interest exists, the Responsible Person with the potential conflict shall disclose the circumstances to the Board, chairman or her designee, who shall determine whether there exists a Conflict of Interest that is subject to this policy. B. A director or committee member who plans not to 3. Confidentiality Each Responsible Person shall exerattend a meeting at which he or she has reason to cise care not to disclose confidential information acbelieve that the Board or committee will act on a quired in connection with such status or information matter in which the person has a Conflict of Inter- which might be adverse to the interests of ALCV. Each est shall disclose to the chairman of the meeting Responsible Person shall not disclose or use ALCV’s all facts material to the Conflict of Interest. roster, mailing lists or donor names in any form for the The chairman shall report the disclosure at the personal profit or advantage of the Responsible Person meeting, and the disclosure shall be reflected in or a Family Member. the minutes of the meeting. C. A Responsible Person who has a Conflict of In- 4. Review of Policy terest shall not participate in or be permitted to hear the Board or committee’s discussion of the A. This policy shall be reviewed annually by the matter except to disclose material facts and to Board of Directors. Any changes to the policy respond to questions. Such person shall not atshall be communicated immediately to all Retempt to exert his or her personal influence with sponsible Persons respect to the matter, either at or outside the meetB. All Responsible Persons shall acknowledge ing. receipt of this policy. D. A Responsible Person who has a Conflict of Interest with respect to a Contract or Transaction Addendum that will be voted on at a meeting shall not be counted in determining the presence of a quorum Full disclosure of eligible persons for ticket purchase, includfor purposes of the vote. ing Responsible Persons, shall be stated on each ticket. All The person having a Conflict of Interest may not practices related to Opportunity (Raffle) Tickets will comply vote on the Contract or Transaction and shall not with CA Penal Code Section 320.5 and Chapter 4.6 of the be present in the meeting room when the vote is Penal Code. taken, unless the vote is by secret ballot. Such person’s ineligibility to vote shall be reflected in the minutes of the meeting. 22 Assistance League of Conejo Valley WHISTLEBLOWER PROTECTION POLICY CODE OF ETHICS POLICY General Assistance League of Conejo Valley requires directors, officers and members to observe high standards of business and personal ethics in the conduct of their duties and responsibilities. As members and representatives of Assistance League of Conejo Valley, we must practice honesty and integrity in fulfilling our responsibilities and comply with all applicable laws and regulations. The Assistance League’s mission can only be realized through a common code of ethics upheld by its members and volunteers. • • Members will treat each other with integrity, honesty and trustworthiness in their work; courage in their decisions; and dedication to Assistance League’s values and beliefs. Reporting Responsibility It is the responsibility of all directors, officers and members to report ethics violations or suspected violations in accordance with this Whistleblower Policy. Members will act responsibly on behalf of the organization and will be accountable and transparent to our constituents and to one another. They will share information when appropriate, without sacrificing confidentiality. • Members will be treated and will treat others with respect. All members will respect the opinions of, and the differences among, individuals. • Members will be equitable in their decisions and mindful of the impact on other groups and people. • Members’ actions will demonstrate their care for others, the community as a whole and the Assistance League of Conejo Valley. 2011—2012 Handbook No Retaliation No director, officer or member who in good faith reports an ethics violation shall suffer harassment, retaliation or adverse consequence. A member who retaliates against someone who has reported a violation in good faith is subject to discipline up to and including termination of membership. This Whistleblower Policy is intended to encourage and enable members and others to raise serious concerns within Assistance League of Conejo Valley prior to seeking resolution outside this organization. Reporting Violations Assistance League of Conejo Valley has an open door policy and suggests that members share their questions, concerns, suggestions or complaints with someone who can address them properly. In most cases, a Committee Chairman or a member of the Board of Directors is in the best position to address an area of concern. All suspected ethics violations will be handled in confidence by the President and/or Board of Directors. For suspected fraud, or when you are not satisfied or uncomfortable with following Assistance League of Conejo Valley’s open door policy, individuals should contact the President directly. Acting in Good Faith Anyone filing a complaint concerning a violation or suspected violation must be acting in good faith and have reasonable grounds for believing the information disclosed indicates a violation. Any allegations that prove not to be substantiated and which prove to have been made maliciously or knowingly to be false will be viewed as a serious disciplinary offense. Confidentiality Violations or suspected violations may be submitted on a confidential basis by the complainant or may be submitted anonymously. Reports of violations or suspected violations will be kept confidential to the extent possible, consistent with the need to conduct an adequate investigation. 23 Assistance League of Conejo Valley 2011-2012 Handbook ACKNOWLEDGMENTS Each year, every member of ALCV is required to sign a copy of the self-explanatory forms provided below, and submit them to the Vice President, Membership. FORM I FORM III Acknowledgment Acknowledgment I acknowledge that I have received a copy of the Conflict of Interest Policy and have read and understand its contents. I acknowledge that I have received a copy of the Code of Ethics Policy and have read and understand its contents. Member _______________________________________________ (please print) Member__________________________________ (please print) Signature ______________________________________________ Signature _________________________________ Date __________________________________________________ Date _____________________________________ FORM II FORM IV Acknowledgment Acknowledgment All volunteers who may drive on behalf of Assistance League of Conejo Valley do carry personal auto liability insurance. I acknowledge that I have received a copy of the Whistleblower Protection Policy and have read and understand its contents. Member _______________________________________________ (please print) Member _____________________________________________ (please print) Signature ______________________________________________ Signature ____________________________________________ Date __________________________________________________ Date ________________________________________________ 24 Assistance League of Conejo Valley 2011—2012 Handbook Assistance League® of Conejo Valley Strategic Plan 2011-2016 Goals: • • • • • Identify and operate philanthropic programs to meet community needs Seek and maintain an informed, committed membership to ensure the success of the mission Ensure a viable financial future for the organization Achieve community name recognition as a leading volunteer organization Successfully transition into a facility that will meet the growing needs of Assistance League of Conejo Valley Goal: Identify and operate philanthropic programs to meet community needs: Objectives 1 Review current community needs Action Steps • Contact current recipients and/or other community organizations to determine community needs Budget $0 • Present findings to VP Philanthropic Programs • Committee chairmen complete and submit the annual committee and recipient evaluation forms to the VP Philanthropic Programs 2 Evaluate each philanthropic program annually based on established criteria • VP Philanthropic Programs reviews evaluation forms based on community needs with committee chairmen and prepares motions to continue, terminate, or amend programs. February Measures of Success Community Needs & Outreach Chair, VP Philanthropic Programs • Community needs identified Philanthropic Programs Chairmen/ VP Philanthropic Programs, Community Needs & Outreach Chair • Evaluations completed • Motions made and approved by Philanthropic Programs Committee $0 • VP Philanthropic Programs presents and defends motions to the Board • Membership votes on philanthropic program motions 3 Committee/Person Responsible January • VP Philanthropic Programs presents and defends motions to the membership Determine staffing needs for approved programs for the upcoming year Target Date • Plan, organize, staff and control each program Feb Board Meeting VP Philanthropic Programs/ Board • Motions, facts and rationale are presented to Board February Regular Meeting VP Philanthropic Programs • Motions, facts and rationale are presented to all members April All members • Vote by members Ongoing $0 25 Philanthropic Programs Chairmen/ VP Philanthropic Programs • All programs are implemented and within budget Assistance League of Conejo Valley 2011—2012 Handbook Goal: Seek and maintain an informed and committed membership to ensure the success of the mission. Objectives 1 2 Develop and maintain an informed, active membership Develop an informed and knowledgeable Board Action Steps Budget • Double current membership 3 Committee/Person Responsible 2013 All members/ VP Membership Measures of Success • Membership doubled $0 • Continue member training Ongoing Committee Chairmen/ Director of Education • Hold member training sessions. • Promote member satisfaction by encouraging participation TBD VP Membership / Board • Continue in-depth Board and chairmen training $0 Director of Education/ Board • All Board members attend 1 Board training session Director of Education • Increased number of participants at AL Conference All Members/ Nominating Committee • Board positions filled with qualified members • Promote AL National Conference participation TBD Ongoing • Identify potential leaders for recruitment $0 • Explore in-line successor for President Achieve active participation of every member on philanthropic and resource development programs Target Date • Members should participate in a minimum of 60 hours of service each fiscal year and are encouraged to participate in both Philanthropic Programs & Resource Development. TBD $0 All members/Board • Strategy for succession will be established VP Membership • Increase in service hours by individual members Ongoing • Committee chairmen actively recruit committee members and cultivate future chairmen • Member retention $0 Committee Chairmen Goal: Ensure a viable financial future for the organization Objectives 1 Create and monitor monthly an annual budget Action Steps Budget • Create the budget • Present financial statements to the Board and membership Target Date Committee/Person Responsible March Finance Committee/ Committee Chairmen $0 Monthly Measures of Success • Adherence to budget as revised & public reporting schedule Treasurer • Hold special fund raising events & activities 2 3 Determine funding sources to support budget Determine staffing needs for fundraising activities • Grant Writing • Corporate Support TBD Ongoing VP Resource Development/ All members • Research other opportunities • Plan, organize, staff and control each activity $0 26 Ongo- VP Resource Development/ Events Chairmen ing 2009 Books & Looks event increased "public" attendance. Kitchens & Cooks Tour May 2010. Budget requirement met • All activities are implemented and within budget Assistance League of Conejo Valley 2011—2012 Handbook Goal: Achieve community name recognitions as a leading volunteer organization Objectives Action Steps Budget Committee/Person Responsible Measures of Success Director of Public Relations · Published articles. Advertise fundraising events. Community Needs & Outreach Chair/Director of Public Relations/ All members · Establishment of alliances Yearly Director of Public Relations/ All members · Presentation of candidate to the Board Ongoing Director of Public Relations/ Board · Advisory Board created Yearly Director of Public Relations · New strategy developed Target Date · Pursue contacts with the media Ongoing 1 Increase community awareness of ALCV · Develop and maintain strategic alliances with community organizations and corporations $0 · Evaluate the potential recipient of the OSB award and establish criteria · Develop plan for blue ribbon advisory Board · Examine mailings and fundraising pieces to create overall strategy and maintain community newsletter TBD · Search for opportunities to apply for community-based reward and recognition programs Ongoing Director of Public Relations Recognition and higher community visibility $0 Goal: Successfully transition into a facility that will meet the growing needs of ALCV Objectives 1 2 Develop a Business Plan Obtain a facility Action Steps • Write the plan Budget Target Date $0 TBD $0 TBD Committee/Person Responsible • Completed Business Plan • Assess physical and monetary requirements for acquisition Special Committee appointed by the President/Board • Work with local realtors and other local groups to secure an appropriate site Measures of Success • Purchase and/or rental of facility • Identify and pursue known sources of funding 3 4 Build the capital fund Support chapter facilities • Create a community awareness campaign to promote support $0 • Growth in capital account funds TBD • Identify foundations that will support capital expenditures with grants Grant Committee • Identify ongoing sustainable funding sources VP Resource Development and/or Capital Campaign Committee, All members $0 27 TBD • Sustained capital fund Assistance League of Conejo Valley 2011—2012 Handbook GIFTS AND INVESTMENT POLICIES Gift Acceptance Policy Assistance League of Conejo Valley relies on charitable contributions to fulfill its mission. While Assistance League of Conejo Valley prefers unrestricted gifts, it recognizes and encourages appropriate collaborations with a variety of stakeholders, including donors that ensure careful control of the content and integrity of its programs and fiscal responsibility. Assistance League of Conejo Valley will encourage donors to seek their own legal or tax counsel before making a gift. Assistance League of Conejo Valley accepts gifts of cash and marketable securities and, at the discretion of the Board of Directors, remainder and lead interests in trusts, real estate, closely held securities, tangible items, retirement plans through bequests or beneficiary designation and life insurance. Tangible items offered to Assistance League of Conejo Valley may be accepted if they can be readily sold or if they are of “related use.” Assistance League of Conejo Valley will clarify with the donor under what circumstances, if any, it will pay for legal or professional fees with respect to completing a gift. Assistance League of Conejo Valley reserves the right to refuse any gift that it believes is too restrictive in purpose or not in its best interest. The acceptance of a questionable gift or the decision to fulfill a questionable request from a donor will be brought to the Board of Directors. The Board’s discussion will be guided by consistency with our mission and preservation of our goodwill in the community. Investment Policy Introduction The Board of Assistance League of Conejo Valley holds all funds of Assistance League of Conejo Valley as a fiduciary and is therefore responsible for sound financial management. The following investment policy is to be considered in light of an overall sense of stewardship. The purpose of this investment policy shall be to define investment objectives, set forth investment guidelines and assign responsibility for their implementation. This investment policy shall serve as the cornerstone by which all investment purchases and sales shall be monitored for suitability and performance. Delegation of Authority The Board delegates supervisory authority over its investments to the Investment Committee. The Investment Committee is responsible for regularly reporting on investments to the Board. In carrying out its responsibilities, the Investment Committee and its agents shall act in accordance with this investment policy and all applicable laws and regulations. Any changes to this investment policy shall be approved by the Board. The Board and the Investment Committee are authorized to retain one or more investment professionals to advise the chapter in the investment management of funds and assets owned or administered. The investment professional shall be qualified in the securities industry and a registered broker/dealer. With the approval of the Board, the Investment Committee is authorized to receive reports from, pay compensation to and enter into agreements with such professionals. 28 Assistance League of Conejo Valley 2011—2012 Handbook GIFTS AND INVESTMENT POLICIES Investment Objectives The primary investment objective is to preserve and protect the chapter’s assets by earning a total return appropriate to the time horizon, liquidity needs and risk tolerance. To achieve these differing objectives, investments should be classified into categories or “tiers” such as: a tier for current operating funds; a tier for operating budget reserve funds; and tiers for other funds that have differing time horizons for the use of funds such as endowments, building reserves, capital funds and any other funds that the chapter may have available. Tier 1 Current Operating Funds: The purpose of this tier is to assure adequate liquidity and safety for current operations. To achieve this goal, the Investment Committee shall match maturities of Tier 1 investments to the chapter’s cash flow draw-down requirements for the current year. The Tier 1 investments shall be “risk free” in nature and maturities shall not exceed 180 days. Tier 2 Operating Budget Reserve Funds: The purpose of this tier is to insure adequate resources for a one-year operating budget reserve. When investing these reserve funds emphasis will be placed on safety, liquidity and yield in that order. Tier 3 Capital Funds: The purpose of this tier is to assure adequate liquidity and safety for contributions received for a new building project until funds are needed. After consultation with the Budget and Finance Committees, the Board shall, at least annually, specify to the Investment Committee the dollar amounts to be maintained in each tier. Investment Asset Allocation Acceptable Ranges of Investment Tier 1 Tier 2 Tier 3 Operating Funds Operating Budget Reserve Capital Funds Equities 0% 0% 0% 29 Fixed Income 0% 0-100% 0-100% Cash & Cash Equivalents 100% 0-100% 0-100% Assistance League of Conejo Valley 2011—2012 Handbook GIFTS AND INVESTMENT POLICIES (cont’d) Investment Guidelines A. Allowable Assets: To accomplish the chapter’s investment objectives, the following types of investments shall be allowed: Equity securities – common stock, preferred stock and convertible preferred stock. Fixed income securities – Government and agency securities, corporate notes and bonds, mortgage backed bonds, convertible notes and bonds. Mutual funds which invest in securities allowed in this investment policy. Cash and cash equivalents – Treasury Bills, money market funds, commercial paper, repurchase agreements and certificates of deposit. B. Asset Quality and Diversification: All investments shall be diversified in accordance with this investment policy and shall be purchased for cash. There shall be no margin transactions, short selling, commodity transactions, index futures, option trades or use of derivatives. 1. Cash and cash equivalents – Cash and cash equivalents should be “risk-free” assets and may include: a) U.S. Treasury bills; b) commercial paper rated A-1 or better by Standard & Poor’s or P-1 or better by Moody’s; c) certificates of deposits from institutions insured by FDIC, d) money market funds which invest primarily in instruments described in a) through c) above. 2. Fixed income securities – The quality rating of bonds must be A or better, as rated by Standard & Poor’s or other equivalent rating services. The portfolio may consist only of traditional principal and interest obligations (no derivatives) with maturities of 5 years or less. No single issue of fixed income securities shall exceed 10% of the total portfolio at the time of purchase. No derivative based, leveraged or high yield (junk) bonds, closed-end trusts, or unit investment trusts are allowed. 3. Common stock – Common stock shall be unrestricted, publicly traded common stock that is listed on a major exchange or a national over-the-counter market and is appropriate for the objectives of the tier that is to hold such shares. The quality rating of common stocks shall be B+ or better, as rated by Standards & Poor’s or other equivalent rating services. Investments in equity mutual funds shall meet the requirements of this category. No single stock or company security shall exceed 5% of the total portfolio at the time of purchase. 4. Mutual Funds – Styles of mutual funds shall be limited to: domestic growth, index, growth/income, equity income, asset allocation and balanced. No equity fund that has a Morningstar rating of less than four stars shall be allowed. No single sector or single industry funds shall be allowed. Attention shall be paid to the fee structure of any mutual fund purchased. 5. Sector Diversification – In addition to the percentage limitations for individual stocks and bonds, no more than 10% of the total portfolio shall be invested in securities of any single economic sector or industry group. 30 Assistance League of Conejo Valley 2011—2012 Handbook GIFTS AND INVESTMENT POLICIES (cont’d) Assignment of Responsibility This section spells out the specific duties and areas of responsibility of the Board, the Investment Committee and any investment professionals who might be retained. The Investment Committee of a chapter with a small amount of funds to invest may feel comfort-able determining and executing its own investment strategy. Chapters with larger amounts of funds to invest may decide that an investment professional is needed to advise the chapter on its investments, or perhaps to manage the portfolio entirely. If an investment professional is used, one critical decision that must be made is how much discretionary authority the professional will be given over making and executing investment decisions. A. Responsibilities of the Board of Assistance League of Conejo Valley Specific responsibilities of the Board include, but are not limited to: Projecting the chapter’s financial needs Approving and periodically reviewing this investment policy Reviewing the Investment Committee’s quarterly reports B. Responsibilities of the Investment Committee The Investment Committee shall have full discretion to make all investment decisions for the assets placed under its jurisdiction, while adhering to the specific limitations and guidelines set forth in this investment policy. Specific responsibilities of the Investment Committee include, but are not limited to: Discretionary investment management including decisions to buy, sell or hold individual securities and to alter asset allocation within the guidelines established in this investment policy. Monitoring and evaluating performance results to insure that policy guidelines are being adhered to and that objectives are being met. Reporting investment performance results to the Board on a quarterly basis. Meeting at least annually with the investment adviser to review past account performance, observe current market conditions and adjust as necessary the coming year’s allocation mix.Reviewing and evaluating investment advisers every two years. C. Responsibilities of Investment Broker The investment broker is required to adhere to the specific limitations and guidelines set forth in this investment policy. Specific responsibilities of the investment broker include, but are not limited to: Placing buy and sell orders at the direction of the Investment Committee. The investment broker shall not have discretionary power to initiate buy/sell orders at any time without the approval of the Investment Committee. Providing quarterly statements and year-end performance evaluations in writing to the Investment Committee. Communicating any change in market conditions or specific investments to the Investment Committee and making specific recommendations for consideration. Disclosing to the Investment Committee all sales charges and fees prior to any transaction and in the year-end performance evaluation. Meeting at least annually with the Investment Committee to review past account performance, observing current market conditions and adjusting as necessary the coming year’s allocation mix. 31 This page has been intentionally left blank. Amended Standing Rules and By Laws will be voted on at the September 26 2011 regular meeting. Until then, the existing Standing Rules and By Laws as found in your hard copy Handbook 2011-2011 are still in force 32
