Robert Haggerty, Chair
The purpose of the Finance Committee is to: 1) advise on and periodically audit the financial affairs of the Association, and, 2) discuss, devise and suggest ways to increase and sustain AIARD revenue so that we may improve our ability to inform and promote international agriculture and rural development to a broad audience ranging from elected officials and private industry to the general public. The recommendations and activities of this committee must be compatible with and responsive to the goals and objectives of the other AIARD Standing Committees.
The primary income of AIARD comes from individual annual dues and individual annual meeting registrations, which are essentially break even income and expenses. Additional financial resources are needed for AIARD to sustain its current recognized position and move forward into a role of greater effectiveness.
Although it is difficult to predict actual resource needs, the Finance Committee recommends that a reasonable goal would be to increase annual income by $5,000 to $10,000 for general information-oriented projects. Level of potential foundation support for a specific project might be from $2,000 to $25,000, depending on the nature of the activity(ies).
Because AIARD is assuming a more proactive role in support of our mission, additional funding would be useful. The suggestions presented above will need to pursued not only by this Committee but also by the entire membership.
Strategies to Increase Resources
- Expand resources derived from membership dues:
- New member recruitment;
- Renewals from past (but recently inactive) members;
- Student membership (at 50 percent of regular membership rate);
- Sustaining, institutional or corporate membership (limited discussion of dues but suggested level would be from $250, $500 or $1000, depending on the class of membership). A lifetime individual membership category may also be an option (all of these membership classes are found in other professional organizations), and,
- Alliances with other organizations that would be likely to result in some dual individual memberships (this is often due to individuals having both technical and broader category interests).
- Endowment Fund. This has had limited discussion but holds some merit and has been successful with other professional organizations.
- Foundations. Considerable discussion in the past but a general recognition that one or more well-defined activities need to be proposed.
- Sponsorship of Annual Meeting. Discussion will center on sponsoring a speaker, sponsoring a specific activity, e.g. reception, coffee breaks and graduate student scholarship awards at the next annual meeting.