Minimum Standards and Best Practices Guide
for Chapters
Industry Engagement and Member Services
Leadership Support
Administration
Financial Management
$$$
Updated 01/14
Financial Management
Bank AccountKey Financial Documents
BudgetFinancial
Reporting/Review
Investments
$
Accounting Standards/Policies Reserves
Leadership Support
Succession Plan Strategic Plan
Executive Council
National Meeting
Participation
Leadership at National Level
Leadership Mentoring/Recognition
Annual Plan
Training for Chapter Leaders
Industry Engagement and Member Services
Credential Awareness
CPM Candidate Guidance/Mentoring
Engaging the Industry
Content CreationRecruitment
Partnering with Other
OrganizationsScholarships
IREM Foundation
Academic Outreach
RetentionCommunity
Service
Chapter Communicatio
n
Chapter Seminars
Legislative Outreach
Industry Partners
x + y = z
Chapter Events/Program
s
Career Guidance
Surveying Members IREM
EducationPublic
Relations
H E L P W A N T E D
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Administration
Elections
Risk Management
Governance DocumentsIncorporation
Crisis Management
Antitrust Policy
TaxesEmployment/
IAE Supervision
Membership Notices
Social Media Policy
Software Licenses
Data Security
Trademark Usage/Brandin
g
Database Management Contracts
H E L P
Bank Account
Minimum Standards• Adopts and enforces a policy on who has and should
access accounts – includes recommendation on when changes should be made
• Adopts and enforces a policy on online banking including transferring money between accounts and who has authority, when applicable
• Includes in minutes the signor on bank accounts each year• Banks with an FDIC insured bank• Includes a bank contact information sheet with
information on accounts – how many, where are they, who has access to the accounts, who is the signor
• Adopts and enforces a policy on deposits including check retention if using scanners, timeline for deposits (i.e. 24 hours from receipt, handling of cash, etc.)
Best Practices• Has awareness of online banking – although not a
requirement to utilize online banking. If using, be sure to follow accounting best practices
Bank Account
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Key Financial Documents
Minimum Standards• Maintains accurate financial records• Audits financial statements regularly• Establishes and maintains a chart of accounts• Adopts and enforces document retention rules
(financials, payables, bank statements, employee benefit documents)
Best Practices• Adopts and maintains a manual on accounting and
financial policies and procedures that is reviewed and updated regularly
Key Financial Documents
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Budget
Minimum Standards• Executive council understands the assets of the
organization and approves the budget annually which is noted in the minutes
• Executive council is conversant in budget and finances and knows the ratio of dues to non-dues revenue
• Has a year-end cash positive outcome • Submits the budget to IREM HQ by the deadline
Best Practices• Ensures income exceeds expenses• Follows best practices on budget format – including a
detailed list of income and expenses
Budget
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Financial Reporting/Revie
w
Minimum Standards• Has defined policy for financial reporting to chapter leaders
and members• Executive council receives and accepts financial statements
(balance sheet, income/expense statements, budget comparison report with budget variance comments, bank statements, bank reconciliation, general ledger) at every meeting and is noted in the minutes
• Has financial reports that are cash-based• Forms an internal audit committee that does not consist of
executive council members to review financials periodically
Best Practices• Adopts and enforces a policy on conducting an audit,
review or compilation by an independent financial auditor• Conducts and annual review/audit by a CPA who specializes
in non-profits or associations – if not every year, then every other year
Financial Reporting/Review
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Investments
Best Practices• Establishes a basic policy including:– investment objectives– an asset allocation model– investment restrictions– reliance on outside investment advisers– annual review of policy
• Tracks maturity dates
Investments
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Accounting Standards/Policie
s
Minimum Standards• Adopts and enforces safeguards and policies to protect
assets• Adopts and enforces a policy on check signing and
credit card usage• Adopts and enforces a policy on reimbursement of
funds and documentation by receipts• Adopts and enforces a policy regarding credit card
points/credit card bonuses/travel miles
Best Practices• Works with a CPA who specializes in non-profits or
associations • Has awareness that the CPA counsels the executive
council and is not a member of the staff
Accounting Standards/Policies
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Reserves
Minimum Standards• Adopts and enforces a policy for savings/reserves –
note: IREM HQ policy is 33-50% of budget• Adopts and enforces a policy on when and how much
money can be taken out of reserves and who can approve
• Sets a reserve goal and evaluates annually
Reserves
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Succession Plan
Minimum Standards• Maintains a defined line of leadership succession• Adopts and maintains a leadership organizational chart
which clearly defines how to volunteer and elevate positions within the chapter
Best Practices• Has first time volunteers in leadership positions• Identifies new volunteers often– Keeps an ongoing list of interested volunteers to
refer back to often– Continues to track current volunteers service– Create a volunteer pool that tracks potential leaders
• Conducts a volunteer recruitment event annually
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Succession Plan
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Strategic Plan
Minimum Standards• Maintains and follows a strategic plan that mirrors
IREM's national plan that is reviewed and updated annually
• Creates tactics/performance measures that includes delegation, deadlines, accountability and metrics
Best Practices• Performs an environmental scan – Reviews external and internal influences of the
organization– Performs a SWOT analysis – identifying strengths,
weaknesses, opportunities, and threats
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Strategic Plan
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Annual Plan
Minimum Standards• Breaks down the strategic plan into a one year action
plan to monitor goals• Has written committee goals• Aligns committee work with strategic goals• Submit goals to IREM HQ by deadline
Best Practices• Adds a “Plan Champion” – an executive council
member assigned to monitor and report on plan progress
• Meets or exceed chapter goals
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Annual Plan
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National Meeting Participation
Minimum Standards• Current chapter president or other designated chapter
officer attends both national meetings• Contributes to the regional subsidy for the RVP to
attend both national meetings• Adopts and maintains a travel policy for volunteers and
IAEs that includes responsibilities to attend specific events/meetings
Best Practices• Supports other chapter representatives to attend both
national meetings – fully or partially subsidized by the chapter
• Participates in national committee meetings when attending
• Reaches out to all chapter members attending a national conference in advance to welcome them, engage them, and set up a meeting point as needed
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National Meeting
Participation
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Executive Council
Minimum Standards• Meets upon the call of the president, at such times and places as the
president may designate, or upon demand of a majority of its members
• Holds a minimum of four Executive Council meetings with a quorum (majority of the council members)
• Supervises, controls, and directs the affairs of this chapter and determines its policies or changes therein within the limits of the bylaws
• Reviews bylaws annually and submits amendments to IREM HQ• Reviews chapter structure, organizational chart and executive council
responsibilities/duties/authority annually• Officers and executive council members understand response to
disclosure can range from documentation to request for recusal or resignation
• Distributes conflict of interest forms at the beginning of each term• Adopts and enforces a confidentiality policy• Adds conflict of interest disclosure at the beginning of each executive
council meeting agenda
Best Practices• Holds more than four executive council meetings with a quorum
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Executive Council
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Training for Chapter Leaders
Minimum Standards• Maintains officer and committee job descriptions that
are reviewed and updated annually• Conducts annual officer/committee chair orientation• Appoints committees based on chapter bylaws• Creates a leadership "manual"/portal on
website/memory stick that includes governance documents and any other critical documents
• Reviews volunteer/chapter liabilities with volunteers
Best Practices• Current chapter president and other chapter leaders
participate in chapter leader webinars organized through IREM Headquarters
• Committees supplement the work of the executive council and staff
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Training for Chapter Leaders
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Leadership Mentoring/ Recognition
Minimum Standards• Awards various member of the year recognitions, when
warranted• Recognizes outgoing officers and volunteers
Best Practices• Has an active leadership mentoring program• Creates a mentor program for keeping current
volunteers on track with goals• Evaluates and coaches volunteers
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Leadership Mentoring/Recognition
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Leadership at National Level
Best Practices• Supports chapter members and/or IAE to be active at
the national level• Promotes
national volunteer interest forms and available national volunteer opportunities
• Encourages chapter leaders to pursue and apply to serve as a regional vice president
• Supports and funds governing councillors
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Leadership at National Level
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Recruitment
Minimum Standards• Actively recruits new members
Best Practices• Prospects for new members• Conducts corporate and academic outreach• Conducts
membership recruitment events, mailings, telemarketing
• Hosts a membership drive - bring a friend event• Participates in IREM HQ growth activities• Follows best practices shared by other chapters and
IREM HQ to help with membership growth and engagement
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Recruitment
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Credential Awareness
Best Practices• Encourages promotion of the CPM, ARM, and ACoM by
members by wearing their pin and adding their designation to their e-mail signatures and business cards
• Participates in the credential awareness program offered through IREM HQ
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Credential Awareness
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Engaging the Industry
Best Practices• Hosts/sponsors a
non-credential IREM seminar or workshop• Hosts an industry forecast event• Offers a networking event - golf outing, property tour,
etc. open to all practitioners• Conducts outreach to allied organizations i.e. architects,
mortgage bankers, brokers, accountants
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Engaging the Industry
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Content Creation
Best Practices• Shares knowledge/information generated by chapter
programs with the rest of the Institute and industry• Expands/enhances existing program to reach a broader
audience - not just your chapter members• Identifies chapter members that can serve as industry
experts outside of your chapter • Utilizes website, eBlasts, newsletter to deliver
knowledge to not just chapter members
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Content Creation
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Partnering with Other
Organizations
Best Practices• Participates in other local industry tradeshows• Collaborates with other industry associations in joint
event/programs
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Partnering with Other
Organizations
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Chapter Events/Programs
Minimum Standards• Holds a minimum of four chapter meetings where IREM business is
conducted• Sends notice of chapter meetings to all members at least 2 weeks prior to
scheduled dates• Has programs and/or activities that are geared toward attracting a
diverse membership - gender, race, age, etc. • Has programs and/or activities that cater to all property types• Has programs and/or activities geared towards attracting young professionals
Best Practices • Holds more than four chapter meetings where IREM business is conducted• Establishes an annual schedule of all meetings and communicates the
schedule at the beginning of the year• Maintains average member attendance at chapter meetings at 15% of total
membership• Has a "greeting" group/committee that is active at chapter meetings to greet
attendees• Has a special table for invited guests/VIPs at chapter events• Provides name tags for all members and guests at chapter events• Holds an industry forecast event• Sponsors a golf outing• Sponsors a tradeshow• Assists IREM Headquarters in manning a tradeshow booth at an industry
event in your area or assist with planning the IREM conference in your area• Collaborates with other IREM chapters in joint events/programs• Supports international outreach - active chapter friendship agreement, hosts
an international delegation, or assists international delegates at a conference• Promotes and encourage submittals to the Income/Expense Analysis Program
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Chapter Events/Program
s
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CPM Candidate Guidance/Mentori
ng
Minimum Standards• Holds a minimum of one event/meeting specifically for
CPM Candidate guidance
Best Practices• Monitors Candidates' progress and communicates
regularly with CPM Candidates - makes regular contact via phone or e-mail, reviews status reports, offers courses to meet CPM Candidates' needs, informs CPM Candidates of all chapter events, etc.
• Has a CPM Candidate mentor program
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CPM Candidate Guidance/Mentor
ing
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Scholarships
Best Practices• Has a scholarship program with specific guidelines and
awards scholarships regularly• Promotes chapter scholarship programs and recipients
in chapter communications and at chapter meetings
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Scholarships
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IREM Foundation
Best Practices• Promotes
IREM Foundation scholarships and grant programs in chapter communications and at chapter meetings
• Establishes and contributes to the Chapter Restricted Fund with the IREM Foundation
• Contributes to the IREM Foundation - donation to annual event, ad in the program book, etc.
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IREM Foundation
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Academic Outreach
Best Practices• Donates a chapter library of IREM publications to a
college or university• Participates in high school career days• Meets with local colleges and universities to partner
with IREM• Participates in college/university career days• Has an active student outreach committee or
chairperson.• Supports Student and Academic Membership programs
through chapter events or chapter subsidies• Participates in local college/university real estate clubs
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Academic Outreach
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Retention
Minimum Standards• Contacts all new members upon approval - provides a new
member packet, contacts new member by phone or mail, or has a special event just for new members
• Conducts follow up with members who have not paid national and/or chapter dues
Best Practices• Maintains 85-95% in total membership retention• Has a program designed to scan dropped members and/or hosts
events to re-engage dropped members• Conducts new member welcome program as outlined in the
"New Member Welcome Program for Chapters" designed by the national Membership and Credentialing Committee
• Recognizes members with significant anniversaries via letter, at chapter meeting, in chapter newsletter, and/or on chapter website
• Recognizes member contributions at chapter meetings and in chapter newsletters
• Provides opportunities for all member types to participate in chapter programs and activities
• Provides services/benefits specifically for AMO firms• Provides services/benefits specifically for ACoM or ARM
Members• Provides services/benefits specifically for Associate Members• Has an active ARM committee
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Retention
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Charitable Giving/Communit
y Service
Best Practices• Adopts and enforces a policy that determines process
for approving involvement • Determines how being involved in charitable
giving/community involvement fits into the chapter’s mission
• Participates in a community service program(s) and/or makes charitable donations outside of the IREM Foundation
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Charitable Giving/Comm.
Service
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Chapter Communication
Minimum Standards• Maintains a chapter website that is kept current• Links chapter website to IREM website when applicable
Best Practices• Produces and sends a quarterly chapter newsletter
electronically or by mail• Copyrights original work to indicate property of
chapter, when necessary• Gives credit to other sources when publishing other’s
materials if allowed• Participates in IREM's chapter website program
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Chapter Communication
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Chapter Seminars
Best Practices• Conducts one to four hour seminars sponsored by
chapter - outside of IREM Ed courses• Utilizes the "Workshops in a Box" available on
www.irem.org• Conducts full day seminars - outside of IREM ED courses• Obtains continuing education for chapter seminars• Promotes
IREM professional development seminars and webinars in chapter communications and/or website
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Chapter Seminars
x + y = z
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Legislative Outreach
Minimum Standards• Supports at least one member to participate in
Capitol Hill Visit Day - promotes and encourages all members to participate
Best Practices• Participates in local/state legislative activity - has a
member identified to track legislation, reports to chapter membership, etc.
• Participates in lobby efforts with local or state REALTORs, CCIM or other professional real estate management organizations
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Legislative Outreach
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Industry Partners
Best Practices• Has an active
Friends of IREM/industry partner program
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Industry Partners
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Career Guidance
Best Practices• Supports www.iremjobs.org by promoting in chapter
newsletter, at chapter meetings, and/or on chapter website
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Career Guidance
H E L P W A N T E D
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Surveying Members
Best Practices• Conducts annual or bi-annual membership
satisfaction/needs assessment survey that adequately addresses all membership types
• Addresses member needs assessment survey by adding/changing benefits or services
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Surveying Members
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IREM Education
Best Practices• Conducts IREM courses as a chapter or jointly with
other chapters and promotes offerings to prospects, students and members
• Conducts single or multi-year educational planning with IREM courses to ensure that students can complete required coursework through chapter
• Promotes the online education opportunities in chapter communications
• Utilizes the online Student/Candidate Course Report to determine courses to offer each year to meet the needs' of current students
• Promotes IREM courses of neighboring chapters
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IREM Education
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Public Relations
Minimum Standards• Follows IREM Brand Style Guide in promoting IREM and
its' credentials in all written communications and advertisement
Best Practices• Participates in credential awareness and
membership recruitment programs offered through IREM HQ
• Meets with companies to promote the hiring of IREM credentialed members
• Sends press releases to local media contacts for chapter events, new members, leadership visits, award winners, new IREM products, etc.
• Appears in print as a result of media efforts• Works with local radio stations to run a commercial
about hiring a CPM, ARM or ACoM
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Public Relations
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Incorporation
Minimum Standards• Files articles of incorporation with the Secretary of
State• Sends copies of articles of incorporation to IREM HQ• Renews articles of incorporation annually with the
Secretary of State
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Incorporation
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Elections
Minimum Standards• Holds election no later than the fourth Thursday in
September with a notice of the election and nominees sent to members 30 days in advance
• Submits list of officers and key contacts to IREM HQ by deadline
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Elections
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Governance Documents
Minimum Standards
• Reviews and updates chapter bylaws regularly and sends a current copy to IREM HQ
• Follows procedures to update chapter bylaws, when mandatory amendments are required
• Adheres closely to the bylaws• Provides proper notice and adoption of unique and
mandatory amendments as need in compliance with bylaws• Maintains and updates regularly a comprehensive policy
manual• Creates detailed meeting agendas• Creates comprehensive meeting minutes that include:– Proof of annual corporate meeting exists– Records of actions, motions and self-serving statements– Decisions made by the executive council– Reflects that executive council members received the
documents• Executive council approves minutes via motion• Safeguards and keeps minutes forever• Understands that minutes are not a newsletter or place to
record notes and/or reminders• Adopts and enforces a policy on limiting the use of audio
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Governance Documents
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Crisis Management
Minimum Standards• Has a business continuity plan which includes
passwords, key information, disaster planning information and determines who has access to these passwords other than IAE
• Has an emergency manual for communications and backing up critical documents is maintained outside of the chapter office
Best Practices• Has a succession plan for staff
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Crisis Management
H E L P
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Data Security
Minimum Standards• Never keeps credit card numbers• Uses a secure site when processing credit card
payments• Adopts and enforces a confidentiality policy• Uses a secure internet connection and password
protects all databases
Best Practices• Backs up electronic information – includes social media
sites• Has a policy and procedures on the management and
ownership of chapter website domain
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Data Security
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Risk Management
Minimum Standards• Has an awareness of what IREM HQ covers and what
additional policies chapters should purchase if necessary
Best Practices• Purchases additional insurance for chapter office• Requests and maintains certificates of insurance
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Risk Management
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Antitrust Policy
Minimum Standards• Adopts and enforces a written antitrust avoidance
policy• Records annually in meeting minutes that leaders have
been advised not to violate antitrust laws
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Antitrust Policy
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Taxes
Minimum Standards• Files federal and state taxes annually with the IRS and
sends a copy to IREM HQ by May 15 – taxes should be prepared by a CPA and signed by the chapter president
• Executive council reviews Form 990 before submission to the IRS
• Ensures vigilance in understanding laws and filings maintained in a time manner
• Files employment taxes and/or supports IAE• Reports unrelated business income • Retains taxes and back up for seven years• Submits amendments to governing documents to the
IRS with tax return• Reports sales tax to state, if applicable
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Taxes
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Employment/ IAE
SupervisionMinimum Standards• Adopts and maintains a job description and personnel manual for IAE• Reviews IAE contract annually• Adopts and enforces a sexual harassment policy for IAE• Adopts and enforces a credit card policy for IAE• Ensures that IAE is bonded• Adopts and enforces a whistleblower clause for IAEs• Adopts and enforces a record retention policy for IAEs• Determines if IAE is employee, independent contractor or using an
association management firm and manages accordingly• Manages IAE payroll• Understands employment laws/compliance in your state
Best Practices• Performs an annual employee review conducted by chapter
president/president-elect including goal setting• Encourages professional development of IAE• Supports IAE to attend national events• Adopts and maintains an organizational chart that depicts lines of
authority, communication and supervision• IAE reviews and is familiar with the IREM website and all reports • IAE attends as many IREM chapter learning webinars as possible• IAE serves as a mentor to other IAEs, when applicable
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Employment/IAE
Supervision
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Membership Notices
Minimum Standards• Follows the IREM HQ guidelines for sending timely dues
notices• Reports any unpaid members to IREM HQ by deadline• Includes a non-deductibility notice on all membership
invoices• Sends notice to all members on annual meeting and
nominations as outlined in the bylaws
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Membership Notices
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Social Media Policy
Minimum Standards• Avoids antitrust violations and libel • Protects passwords
Best Practices• Adopts and enforces a policy that includes guidelines
and controls for content, copyright and professionalism on social media
• Utilizes chapter guides created by IREM HQ for Facebook and Twitter
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Social Media Policy
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Software Licenses
Minimum Standards• Maintains appropriate software licenses and avoids
pirating• Safeguards licenses• Keeps information with business continuity plan
Best Practices• Maintains licenses and follows accordingly for programs
such as Microsoft, database, Antivirus, accounting software, etc.
• Updates products for relevancy
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Software Licenses
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Trademark Usage/
BrandingMinimum Standards• Follows the IREM Brand Style Guide for using the IREM
logos correctly• Uses registered trademarks when using the
designations• Uses the chapter signature on your website and
communications provided by IREM HQ
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Trademark Usage/Brandin
g
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Database Management
Minimum Standards• Tracks all members with key information in a database -
excel or more sophisticated product• Reconciles database with
IREM HQ online member roster (IAEs can access this after logging in to www.irem.org) regularly to ensure accurate information
• Adds new members to chapter records immediately upon notification from IREM HQ
• Removes dropped members from chapter records immediately upon notification from IREM HQ
• Processes membership applications within the 30 day timeframe, but processes quicker when possible
Best Practices• Tracks non-member prospects and students with key
information in chapter’s database• Tracks birthdates, membership involvement
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Database Management
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Contracts
Minimum Standards• Adopts and enforces a policy on who can sign contracts• Retains copies of all contracts including office leases,
equipment leases, employment contracts, etc.• Requires insurance from vendors before signing a
contract
Best Practices• Clarifies what a contract looks like - who signs,
termination clause, etc.
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Contracts
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