Finance and Operations

Conduct secure, transparent, and timely financial practices.  

Download the Finance and Operations Chapter of the Playbook

Accreditation Requirements

  

Requirement 1: File an IRS 990, 990EZ, or 990N (postcard) tax return annually to ensure continued tax-exempt status. File all tax returns required by applicable state and local jurisdictions.

Documentation: Provide a copy of the component’s most recent IRS 990, 990EZ, or 990N return.

Resources:

Finances 101: IRS Tax form 990

IRS Website

Download Form 990

Recording: 2020 Virtual Institute Resource Training: Finance and Operations

  

Requirement 2: Provide financial reports to the board at least quarterly. Adopt an audit or review policy. When there is no audit by an accountant, reviews may be performed by an independent financial review committee appointed by the board. These steps allow the board to execute its fiduciary responsibilities.

Documentation: Provide a copy of your component’s board agenda that shows financial reports are being delivered or provide your schedule for providing financial reports to the board. Provide a copy of the component’s audit or review policy.

Resources:

Record Keeping 101

Creating a Financial and Audit Committee

Component Cash Flow Worksheets

Financial reporting best practices & samples (Greater Washington Society of CPAs Educational Foundation)

  

Requirement 3: Ensure that financial data and transactions are secure for the protection of both customers and the component. If the component takes credit cards, ensure that the processor complies with the Payment Card Industry Data Security Standard (PCI DSS).

Documentation: Provide a copy of the component’s current policy or procedures concerning the handling of funds and member financial data.

Resources:

Banking Polices 101

  
Requirement 4: Report dues rates to AIA Member & Component Support as required by the institute’s schedule (currently September 15) to ensure that dues revenues reach the component without delay. (Components that miss the September 15 deadline will have their members invoiced at the current year’s dues rates without change.)

Documentation: None needed. The institute will confirm.

 

Requirement 5: To ensure components have access to crucial leadership resources, send at least one elected leader to Grassroots at least once every three years. Send executive directors who work at least 30 hours per week to Grassroots at least once every three years.

Documentation: None needed. The institute will verify attendance.

 

Requirement 6: To ensure component executives have access to crucial management resources, send executive directors who work at least 30 hours per week to the CACE Annual Meeting at least once every three years.

Documentation: None needed. The institute will verify attendance.

  

Requirement 7: To ensure component executives are trained to access institute resources, send new executive directors who work at least 30 hours per week to attend Institute Resource Training within two years of hiring.

Documentation: None needed. The institute will verify attendance.

Need help with Finance and Operations?

AIA National staff are available to help. We are available to answer questions, brainstorm a strategy, or help you leverage national content, expertise, and program resources so that you can maximize your components successful delivery of services in this core service area.

Finance
Lisa Green
Vice President, Finance & Accounting
(202) 626 7406

Vermetra Riley

Sr. Manager, Membership Accounting
(202) 626 7330

General Counsel
Jay Stephens, Hon. AIA
Sr. Vice President & General Counsel
(202) 626 7379

T. Francis Ona, Esq., CAE, SPHR
Director, Deputy General Counsel
(202) 626 7375

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