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WAVE OF CHANGE. Managing Risk in the Regions & Clubs. RISK MANAGEMENT. 2012 GRT – RISK MANAGEMENT. RISK MANAGEMENT. FINANCIAL RISK MANAGEMENT Keep cash and checks safe Regular financial reports Segregation of duties Two signers on bank account Reconciliation of bank statement - PowerPoint PPT Presentation
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Governors Round TableJune 23-24
Managing Risk in the Regions & Clubs
WAVE OF CHANGE
RISK MANAGEMENT
Legal
Financial
Soroptimist Governors Round Table | June 23-24, 2013 | REGION & CLUB LEGAL STATUS
2012 GRT – RISK MANAGEMENT
RISK MANAGEMENT
FINANCIAL RISK MANAGEMENT Keep cash and checks safe Regular financial reports Segregation of duties Two signers on bank account Reconciliation of bank statement Lock and key
Soroptimist Governors Round Table | June 23-24, 2013 | REGION & CLUB LEGAL STATUS
RISK MANAGEMENT
WHY - FINANCIAL RISK MANAGEMENT Treasurers kept no records or receipts
Clubs not complying with IRS filings & requests
Treasurers comingling club & personal funds
Only authorized bank signer left & took money
Soroptimist Governors Round Table | June 23-24, 2013 | REGION & CLUB LEGAL STATUS
REGION & CLUB LEGAL STATUS
LEGAL RISK MANAGEMENT
SIA’s GENERAL COUNSEL
Gary Bragg
Soroptimist Governors Round Table | June 23-24, 2013 | REGION & CLUB LEGAL STATUS
REGION & CLUB LEGAL STATUS
CLUBS Clubs not legal entities of SIA; considered affiliates SIA grants charter Operate under SIA bylaws, rules and procedures Stay in good standing
Receive tax exempt status Operate under name SI
Soroptimist Governors Round Table | June 23-24, 2013 | REGION & CLUB LEGAL STATUS
REGION & CLUB LEGAL STATUS
REGIONS Regions not legal entities of SIA; considered
affiliates SIA does not select 51% of region’s board Operate under SIA bylaws, rules and procedures Board policy V. A. identifies requirements
Ensure common vision and direction
Soroptimist Governors Round Table | June 23-24, 2013 | REGION & CLUB LEGAL STATUS
REGION & CLUB LEGAL STATUS
REGIONS Stay in good standing
Receive tax exempt status Operate under name SI
Soroptimist Governors Round Table | June 23-24, 2013 | REGION & CLUB LEGAL STATUS
REGION & CLUB LEGAL STATUS
REGIONS First follow laws of the country you operate in Then follow SIA laws
Region bylaw changes be reviewed by SIA HQ before brought for a vote
Soroptimist Governors Round Table | June 23-24, 2013 | REGION & CLUB LEGAL STATUS
MANAGING PARTNERSHIPS & COLLABORATION
Soroptimist Governors Round Table | June 23-24, 2013 | MANAGIN G COLLABORATION
MANAGING PARTNERSHIPS & COLLABORATION
Soroptimist Governors Round Table | June 23-24, 2013 | MANAGIN G COLLABORATION
MANAGING PARTNERSHIPS & COLLABORATION
Soroptimist Governors Round Table | June 23-24, 2013 | MANAGIN G COLLABORATION
MANAGING PARTNERSHIPS & COLLABORATION
PROGRAMS
Initiate
Collaborate with others
REGION MUST BE RESPONSIBLE PARTY
Soroptimist Governors Round Table | June 23-24, 2013 | MANAGIN G COLLABORATION
MANAGING PARTNERSHIPS & COLLABORATIONPROGRAMS MARKS
Soroptimist Governors Round Table | June 23-24, 2013 | MANAGING COLLABORATION
MANAGING PARTNERSHIPS & COLLABORATION
INTELLECTUAL PROPERTY Assets of region are assets of SIA
Soroptimist Governors Round Table | June 23-24, 2013 | MANAGING COLLABORATION
PROTECTING SIA
NEW REGION REQUIREMENTS Report/provide to headquarters
Annual financials Contracts over $10,000
Soroptimist Governors Round Table | June 23-24, 2013 | PROTECTING SIA
PROTECTING SIA
NEW REGION REQUIREMENTS Carry appropriate insurance coverage
US and Canadian regions General Liability Directors’ & Officers’ Insurance through SIA’s broker of record Name SIA as additional insured
Soroptimist Governors Round Table | June 23-24, 2013 | PROTECTING SIA
PROTECTING SIA
NEW REGION REQUIREMENTS Carry appropriate insurance coverage
Outside US and Canadian regions Appropriate insurance for country Use insurance broker of choice
Soroptimist Governors Round Table | June 23-24, 2013 | PROTECTING SIA
PROTECTING SIA
NEW REGION REQUIREMENTS Carry appropriate insurance coverage Forward certificate of insurance to SIA
headquarters upon Purchase Renewal
Soroptimist Governors Round Table | June 23-24, 2013 | PROTECTING SIA
PROTECTING SIA
TIMELINE FOR IMPLEMENTATIONJanuary 2014 - Reminder of upcoming policy
requirements
End of March 2014 – Follow-up reminder
July 1, 2014 - Procedure becomes effective
Soroptimist Governors Round Table | June 23-24, 2013 PROTECTING SIA
PROTECTING SIA - Licensing
Licensing Required – Commercial Use When clubs/regions producing and selling items or
using as a donation/fundraising premium Only mark licensed is the S logo Only club/region is licensed to sell/distribute the
item, not the producer or vendor $50 fee per item with unlimited reorders
Why? To follow U.S. law requiring a fee commensurate with value
Soroptimist Governors Round Table | June 23-24, 2013 | Protecting SIA
PROTECTING SIA - Licensing
Licensing Not Required When clubs/regions are giving away an item with
the mark as a public relations tool (nail files, luggage tag, pencils and pens, pads of paper)
When clubs ordering an item (apron, shirt) for club public relations purposes and it is only available to that club’s members
Soroptimist Governors Round Table | June 23-24, 2013 | Protecting SIA
Governors Round TableJune 23-24
Managing Risk in the Regions & Clubs
WAVE OF CHANGE
THANK YOU
