|Vietnam Veterans of America|
|Treasurer’s Report, May/June 2023|
Report of the Treasurer
Working with the Finance Committee and VVA’s Director of Finance, we have made some changes to this year’s Budget process.
For one thing, we have returned to identifying all funding streams and costs associated with fundraising. I have renamed the Contributions line Program Support. This is an important change for donors, since in the world of nonprofit organizations that rely on contributions, one of the main questions that drives contributors’ decision-making is, “What do they do with my money?”
VVA has many veteran-centric programs, but comparing overhead with funding programs is important to potential donors. So we need to better define our activities, especially those that directly support the mission of the organization.
This year, the Finance Committee, Treasurer, and Director of Finance developed and sponsored a Budget Informational Session for staff, Board members, and committee chairs. It was very well attended and sparked quite a bit of interest and questions. We reviewed the Policies and Guidelines with the hope that the budget process would be easier if everyone knew the intricacies of how it works. We received many compliments and suggestions. We intend to continue this program in the future.
All abbreviations will now be spelled out for easier reading and understanding. I have also returned the fold-out spreadsheet to better reflect the activities and changes in fund balance. When you look at the Proposed Budget, you will also find more explanations on the tabs.
Additionally, prior to the Board vote on the budget, the Finance Committee, Director of Finance, and I will run a forum (check your agenda) to give Board members an opportunity to answer questions, clarify points, and make suggestions. We hope this will minimize the discussion during the Board meeting.
As we move into a new stage of our organization, I understand the accompanying anguish. I want to move with respect for all we are today and for what those before us have invested, created, improved, and changed at the chapter, state, and national levels.
You may have heard me say, “There never has been, nor will there ever be, another generation of veterans like us.” We have a unique legacy that must be preserved. My eye is on how we will go about leaving our footprint for the future. I look forward to working with everyone at VVA as we determine just what that will look like.
Once again, you have no idea how much time the Chair and members of the Finance Committee dedicate to their responsibilities. This is a working group that meets almost weekly (or more frequently) to assure that they have a handle of VVA's finances. We owe them all a great deal of thanks for their work.
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