Finance report Howard university alumni association

Report
FINANCE REPORT
HOWARD UNIVERSITY ALUMNI ASSOCIATION
SUBMITTED BY DAWN M. COOPER, V. P. OF FINANCE
MAY 2014 ALUMNI COUNCIL MEETING
FY 2013-2014 THROUGH JANUARY, 2014
AT A GLANCE
 Total Revenues: $63, 860
 Total Expenses: $71, 301
 Total Budgeted, FY ‘13-’14: $137,020
 Total Budget Remaining, FY ‘13-’14: $65,717
DC/HUAA/52014
REVENUES BY CATEGORY: FY ‘13-FY ’14
THROUGH JANUARY, 2014
Revenues by Category
$479
$469
$18,146
$26,075
$15,225
DC/HUAA/52014
Memberships-1 Year
Memberships-3 Year
Brenda Lawson Scholarship Fund
Emergency Scholarship Fund
Bison on the Vineyard
TOP 5 AREAS OF SPEND
FY ‘13-FY ‘14 THROUGH JANUARY 2014
Top 5 Areas of Spend
$8,036
$10,027
$8,894
$20,578
$7,783
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Executive Committee Meetings--Members' Travel
Printing/Mailing
Homecoming
BOV 2013 Expenses
Miscellaneous
MEMBERSHIP REVENUES BY MONTH
THROUGH FEBRUARY, 2014
Membership Revenues by Month
$10,000.00
$9,000.00
$8,000.00
$7,000.00
$6,000.00
$5,000.00
$4,000.00
$3,000.00
$2,000.00
$1,000.00
$0.00
Aug-13
Sep-13
Oct-13
Nov-13
Budgeted
DC/HUAA/52014
Actual
Dec-13
Jan-14
Feb-14
SINCE WE MET LAST…
“HANDS ACROSS HOWARD*” CAMPAIGN
 Why

To raise money for the Emergency Scholarship Fund
 How

Through Mobile Donate, give via text

Donors linked to brief web form
 Marketing Plan

Rolled out to constituent units at May meeting

C Us encouraged to promote at all events for 1 year, meetings, gatherings, etc.

Contest for CU with most donations (code driven)s
 How Long

To run from May 10, 2014 to April 1, 2015

Winner and donation amounts announced at May, 2015 meeting
*Hands Across Howard name credited to David McGruder HU Alum
DC/HUAA/52014
SINCE WE MET LAST…
MARKET HUAA TO TOP 10 ALUMNI MARKETS VIA PRINT AD
 Benefits
 Increase visibility in top markets
 Communicate “hot topics” as it relates to HUAA
 Develop another tracking mechanism for HUAA memberships
DC/HUAA/52014
SINCE WE MET LAST-PROJECT 2014
BUILDING 1ST YEAR ALUMNI MEMBERSHIP INTO GRADUATION FEE
 Benefits
 To create a seamless linkage between graduation and the transition to an alumni constituent unit
 To strengthen the idea of give-back in newly Howard alumni
 To add automatic revenue stream to HUAA, avg. of 2000 graduates X $35 = $70,000
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UPDATES
ALUMNI MARKETING CAMPAIGN
 Project redesigned. Howard contact is no longer in role.
 New publisher and interim editor of Defender in Chicago is
interested in helping
 Costs will have to be renegotiated
DC/HUAA/52014
UPDATES
PROJECT 2014
 Our President and HUSA collaborated on plan and agreed to implement
 President will meet with Howard administration for anticipated start of
Fall 2014
 Assuming Fall 2014 start should mean revenues to HUAA by no later
than end of Q1, FY 2014
DC/HUAA/52014
HOWARD UNIVERSITY ALUMNI ASSOCIATION
PROJECT 2014
An Initiative to Increase Engagement of
Graduating Seniors to HUAA
BACKGROUND
 The Howard University Alumni Association currently auto-enrolls it’s
approximately 2000 undergraduates into HUAA upon graduation.
 Graduates are not charged the association fee of $35 for their first year
 While the constituent units have access to the database of recent graduates, there
is no formal plan to fully engage them with their local club
 HUAA leadership sees a tremendous opportunity to improve the relationship of
recent graduates and the Association
 The opportunity also exists to increase revenues to the Association, creating a
win-win for the Association, the University and, most importantly, the recent
graduate
dc/HUAA/52014
STRATEGY
Graduating Seniors will be identified by the Department of Alumni
Relations prior to their enrollment at the start of their senior year
The $35 Association fee will be applied to the graduating seniors
account as part of their graduation fee. T-shirt sizes will be
identified and forwarded to DAR for ordering of HUAA t-shirts
The $35 fee will be applied to the HUAA operating account as
revenue
dc/HUAA/52014
STRATEGY
At graduation pick-up, HUAA will have Executive Committee members
and key CU Presidents in place to pass out HUAA pins, t-shirts and
HUAA benefit packages to welcome new alumni to the Association
HUAA will provide new alumni with the name, contact information,
and next CU meeting in their area. If the CU President is available,
the new alumnus will be introduced to that person.
Within ninety days after graduation or by August 31 of the graduation
year, the CU will provide a New Alumni Report to HUAA that
summarizes the number of graduates who have been contacted and
have attended the meeting in their area.
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STRATEGY
Any alumni who have been contacted, but not attended, will be forward
to the region representatives. Region representatives will reach out to
the alumnus to invite them personally to attend the next meeting.
If, by November 30 of the graduation year, the alumnus has not
attended a local meeting after being contacted by the region
representative, the region chairs will make one final effort to contact
the alumnus and get them engaged into the Association.
At the March Executive Committee meeting, the region chairs will be
prepared with a report that will be submitted to DAR, outlining the
engagement results for new alumni in their region.
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ANTICIPATED OUTCOMES
• Through Project 2014, HUAA will have a
plan in place to actively engage new
alumni with their local constituent units
• Through Project 2014, alumni will be a
part of a seamless plan to get them
integrated into the Alumni Association.
• Through Project 2014, HUAA has the
opportunity to increase revenues by
bringing in approximately $70,000
annually
dc/HUAA/52014
GOOD NEWS FOR FISCAL YEAR 2014!!
Revenue projections for the month of
August should exceed entire year’s revenues
for FY 2013-Project 2014
HUAA’s relationship with Nationwide
Insurance is on Fire! Resulted in additional
$10,000 added to Misc. line item
DC/HUAA/52014
The 50th Anniversary Celebration for HUAA
is projected to yield 1000 new members

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