Transcript Document
Minimum Standards and Best Practices Guide for Chapters $ Financial Management Leadership Support Industry Engagement and Member Services Administration Updated 01/14 Financial Management $ Bank Account Budget Investments Key Financial Documents Financial Reporting/Review Accounting Standards/Policies Reserves Leadership Support Succession Plan Strategic Plan Annual Plan National Meeting Participation Executive Council Training for Chapter Leaders Leadership Mentoring/ Recognition Leadership at National Level Industry Engagement and Member Services Recruitment Credential Awareness Engaging the Industry Content Creation $ Partnering with Other Organizations IREM Foundation Chapter Events/Programs Academic Outreach CPM Candidate Guidance/Mentoring Scholarships Retention Community Service Industry Partners x+y=z Chapter Communication Chapter Seminars Legislative Outreach Career Guidance Surveying Members IREM Education Public Relations Administration Incorporation Elections Governance Documents Crisis Management Data Security Risk Management Antitrust Policy Taxes Employment/IAE Supervision Membership Notices Trademark Usage/Branding Social Media Policy Database Management Software Licenses Contracts $ Bank Account Bank Account Minimum Standards • Adopts and enforces a banking policy that includes bank signatories, who is authorized to transfer funds online, how deposits are accounted for including check retention, and credit card processing • Includes in executive council minutes the signor on bank accounts each year • Banks with an FDIC insured bank • Maintains a bank contact information sheet with information on accounts – how many, where are they, who has access to the accounts, who is the signor Best Practices • Has awareness of online banking – although not a requirement to utilize online banking. If using, be sure to follow accounting best practices Return to Financial Management Return to Main Menu Key Financial Documents Key Financial Documents Minimum Standards • Maintains accurate financial records • Treasurer reviews financial statements regularly • Establishes and maintains a chart of accounts • Adopts and enforces document retention rules that meet U.S. Internal Revenue Services (IRS) requirements including but not limited to financial reports, accounts payable documentation, bank statements, and employee benefit documents Best Practices • Adopts and maintains a manual on accounting and financial policies and procedures that is reviewed and updated regularly Return to Financial Management Return to Main Menu Budget Budget Minimum Standards • Provides training to executive council members so they are conversant in budget and finances • Executive council annually approves the budget and records the approval in the minutes • Ends the year with a positive cash outcome • Submits the budget to IREM HQ by the deadline – December 1 Best Practices • Ensures income exceeds expenses • Follows best practices on budget format – including a detailed list of income and expenses Return to Financial Management Return to Main Menu Financial Reporting/Review Financial Reporting/Review Minimum Standards • Adopts and enforces a 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 Return to Financial Management Return to Main Menu Investments 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 Return to Financial Management Return to Main Menu Accounting Standards/Policies Accounting Standards/Policies 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 member and IAE expenses and documentation by receipts • Adopts and enforces a policy regarding credit card points/credit card bonuses/travel miles earned on chapter credit cards 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 Return to Financial Management Return to Main Menu Reserves Reserves Minimum Standards • Adopts and enforces a policy for savings/reserves including when and how much money can be taken out of reserves and who can approve – note: IREM HQ policy is 33-50% of budget • Sets a reserve goal and evaluates annually Return to Financial Management Return to Main Menu Succession Plan 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 Return to Leadership Support Return to Main Menu Strategic Plan Strategic Plan Minimum Standards • Adopts 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 Return to Leadership Support Return to Main Menu Annual Plan 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 – December 1 Best Practices • Adds a “Plan Champion” – an executive council member assigned to monitor and report on plan progress • Meets or exceed chapter goals Return to Leadership Support Return to Main Menu National Meeting Participation 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 enforces 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 Return to Leadership Support Return to Main Menu Executive Council 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 Return to Leadership Support Return to Main Menu Training for Chapter Leaders 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 Return to Leadership Support Return to Main Menu Leadership Mentoring/ Recognition 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 Return to Leadership Support Return to Main Menu Leadership at National Level 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 Return to Leadership Support Return to Main Menu Recruitment 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 Return to Industry Engagement Return to Main Menu Credential Awareness 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 Return to Industry Engagement Return to Main Menu Engaging the Industry 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 Return to Industry Engagement Return to Main Menu Content Creation 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 Return to Industry Engagement Return to Main Menu Partnering with Other Organizations Partnering with Other Organizations Best Practices • Participates in other local industry tradeshows • Collaborates with other industry associations in joint event/programs Return to Industry Engagement Return to Main Menu Chapter Events/Programs 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 Return to Industry Engagement Return to Main Menu CPM Candidate Guidance/Mentorin g CPM Candidate Guidance/Mentoring 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 Return to Industry Engagement Return to Main Menu $ Scholarships 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 Return to Industry Engagement Return to Main Menu IREM Foundation 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. Return to Industry Engagement Return to Main Menu Academic Outreach 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 Return to Industry Engagement Return to Main Menu Retention 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 Return to Industry Engagement Return to Main Menu Charitable Giving/Comm. Service Charitable Giving/Community 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 Return to Industry Engagement Return to Main Menu Chapter Communication 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 Return to Industry Engagement Return to Main Menu x+y=z Chapter Seminars 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 Return to Industry Engagement Return to Main Menu Legislative Outreach Legislative Outreach Minimum Standards • Provides financial support for 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 Return to Industry Engagement Return to Main Menu Industry Partners Industry Partners Best Practices • Has an active Friends of IREM/industry partner program Return to Industry Engagement Return to Main Menu Career Guidance Career Guidance Best Practices • Supports www.iremjobs.org by promoting in chapter newsletter, at chapter meetings, and/or on chapter website Return to Industry Engagement Return to Main Menu Surveying Members 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 Return to Industry Engagement Return to Main Menu IREM Education 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 Return to Industry Engagement Return to Main Menu Public Relations 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 Return to Industry Engagement Return to Main Menu Incorporation Incorporation Minimum Standards • Files articles of incorporation with the Secretary of State or Commonwealth of appropriate department overseeing corporations and subsequently files required reports, renewals, and/or fees to maintain good standing status • Sends copies of the articles of incorporation to IREM HQ Return to Administration Return to Main Menu Elections Elections Minimum Standards • Holds annual 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 – October 31 Return to Administration Return to Main Menu Governance Documents 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, enforces, 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 recorded meetings Return to Administration Return to Main Menu Crisis Management Crisis Management Minimum Standards • Has a business continuity plan which includes passwords, key information, software licenses, disaster planning information and who has access to these passwords and key documents other than IAE • Has an emergency manual for communications • Maintains back-ups of critical documents outside of the chapter office Best Practices • Has a succession plan for staff Return to Administration Return to Main Menu Data Security Data Security Minimum Standards • Uses a secure site when processing credit card payments and never keeps credit card numbers • Adopts and enforces a privacy 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 Return to Administration Return to Main Menu Risk Management 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 Return to Administration Return to Main Menu Antitrust Policy 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 Return to Administration Return to Main Menu Taxes 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 documentation for seven years or as required by the IRS • Submits amendments to governing documents to the IRS with tax return • Reports sales tax to state, if applicable Return to Administration Return to Main Menu Employment/IAE Supervision Employment/ IAE Supervision Minimum Standards • Determines if IAE is employee, independent contractor or using an association management firm and manages accordingly • Adopts and maintains a job description and personnel manual for IAE • Adopts and enforces a sexual harassment policy for IAE • Adopts and enforces a credit card policy for IAE • Adopts and enforces a whistleblower clause for IAEs • Adopts and enforces a record retention policy for IAEs • Reviews IAE contract annually • Ensures that IAE is bonded • Manages IAE payroll • Complies with state and federal employment laws 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 Return to Administration Return to Main Menu Membership Notices Membership Notices Minimum Standards • Follows the IREM HQ guidelines for sending timely dues notices • Reports any unpaid members to IREM HQ by deadline – January 24 • Includes a non-deductibility notice on all membership invoices • Sends notice to all members on annual meeting and nominations as outlined in the bylaws Return to Administration Return to Main Menu Social Media Policy Social Media Policy Minimum Standards • Adopts and enforces policies and practices to avoid potential antitrust violations and libel • Adopts and enforces policies and practices to protect 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 Return to Administration Return to Main Menu Software Licenses Software Licenses Minimum Standards • Maintains and safeguards appropriate software licenses and avoids pirating • 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 Return to Administration Return to Main Menu Trademark Usage/Branding Trademark Usage/ Branding Minimum Standards • Follows the IREM Brand Style Guide for using the IREM logos correctly • Uses registered trademarks when using the designations • Uses the approved chapter signature on chapter’s website and communications provided by IREM HQ Return to Administration Return to Main Menu Database Management 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 Return to Administration Return to Main Menu Contracts Contracts Minimum Standards • Adopts and enforces a policy on who is authorized to sign contracts • Retains copies of all contracts including office leases, equipment leases, employment contracts, etc. • Requires proof of insurance from vendors before signing a contract Best Practices • Clarifies what a contract looks like - who signs, termination clause, etc. Return to Administration Return to Main Menu