Fund for the Future

• 
• 

Details

Hits: 2789

 

 

 

 

 

"Fund for the Future"

Campaign Case Statement

Overview:
“Fund for the Future” is a joint fund-raising campaign of the IFEA Foundation and IFEA World Board of Directors.  

 

Purpose Statement:

For 55 years the IFEA has served as the pivotal hub for our industry’s professional global network, providing ongoing support through quality education and training, media representation, industry advocacy, up-to-date information on current issues and trends, and affordable access to the latest products, services and resources that we all need to succeed. Today, that role has never been more important or critical.

 

The world around us has certainly changed, as we all work to maneuver our organizations carefully through the current maze of economic recession, health care changes, sponsorship challenges, municipal relationship struggles, and more.  More events than ever are struggling and looking for new answers, best practices and professional support; support that the IFEA has dependably provided for over five decades.

 

“In Times of Uncertainty, Leadership and Vision are Priceless.”

 

Recognizing the importance of the role that we play, the IFEA World and IFEA Foundation Boards, working together, have chosen to use the current market environment and changing times as an opportunity to strengthen our own programs and to ensure that the IFEA will continue to lead, serve and support our industry, especially when it is in need, for many years to come. That includes building protections against current and future economic realities and keeping pace with new technologies that will allow us to expand our services and programming reach around the world.

 

The “Fund for the Future” will provide that secure and successful future in three parts:

 

Part One:
Creation of a permanent $250,000 Working Capital Fund. This new fund will be set up as an interest-bearing operating fund that is accessible by the IFEA throughout the year, allowing the association to borrow from itself during cyclical slow-periods, replacing our current bank line-of-credit and the fees and high interest rates that come with that.  All use of dollars borrowed from the Working Capital Fund will be paid back by the end of each fiscal year or by a date determined by the Board of Directors. The fund will serve multiple benefits:

 

• In the long-term, it will remove any concerns for maintaining a bank line-of-credit in uncertain economic climates, as we have all experienced in the last three years with the national and global banking crisis;
• It will eliminate / reduce the high interest rates of using bank credit, which can cost the association thousands of dollars each year; monies which can be turned around to grow the new fund or support other critical programs instead;The Working Capital Fund will serve as an asset to the association, increasing the net equity and financial position of the organization;It will help to protect / limit exposure to association staff and Board members from any financial risk through their own personal commitments or fiduciary responsibilities to the organization; and
• It will insure our long-term stability well past the current economic recession, with an eye on the future.

 

Part Two:
Of course, any vision for the future will require that we keep up with the expectations and needs of those in our industry. We cannot afford to fall behind, especially in the area of new technology. $50,000 of the “Fund for the Future” will be earmarked to keep the organization current and viable in it’s abilities to communicate with and serve those in the industry, worldwide, including (but not limited to):

 

• Replacement of the IFEA staff computer system to ensure both functionality and information protection;
• Addition of enhanced web-based technologies to allow for on-line video communications and streaming, continuing education training, member communications globally, web-based Board and Committee meetings (reducing travel expenses and increasing outreach, inclusion and productivity) and increased provision of global programs; and
• Replacement of outdated office equipment (copiers, printers, fax, etc.).

 

Part Three:
Creation of a $200,000 Emergency Reserve Fund to protect against the unexpected economic impact on outside partners, members and resources that can not be easily replaced (i.e., sudden or unexpected loss of high-level sponsors; outside impacts on convention attendance – such as experienced following 9/11 or by IFEA Europe due to the volcanic ash from Iceland;  etc.). These funds will be kept in an interest-bearing account until approved for a specifically-defined need by the Board of Directors, with a plan and timeframe for replenishment if funds are depleted beyond the original $200,000 level.  Further benefits include:

 

·         Added stability knowing that the organization can weather an unexpected emergency without damaging the daily operations of the association;

·         Opportunities to build the foundations for a larger endowment fund, using the Emergency Reserve Fund as a base;

·         Providing a financial base of strength that speaks to future partners and associates who share our visions.

 

Campaign Time-Frame:
The “Fund for the Future” Campaign was announcement by both Board Chairs at the IFEA Convention in September of 2010. The Campaign will run for three years with a wrap-up at the IFEA Convention in 2013. 

 

Stand-Alone:
The “Fund for the Future” Campaign is a separate fund-raising effort from the annual IFEA Foundation Auction, whose purpose is to help raise monies to support IFEA’s educational and professional programs that are a part of the regular annual budget. It is also separate from the IFEA Foundation Legacy Scholarship Program, although the Foundation and organization will continue to make opportunities in that category, and others, available for larger donors with specific interest areas.

 

Goal:
The goal of the “Fund for the Future” campaign is to raise a total of $500,000.

 

Recognition:
Donors to the “Fund for the Future” Campaign will receive recognition (designed by level of giving) by the IFEA and IFEA Foundation, on-line, in-print and on-site at all future IFEA Conventions.

 

Commitment: 
The IFEA and IFEA Foundation Board Chairs announced at the IFEA Convention in Saint Louis, Missouri, USA on September 16^th, 2010, a 100% participation by both Boards and IFEA Staff Leadership in support of the “Fund for the Future” campaign.

 

Progress: 
To date, we have commitments or monies in hand of nearly $250,000 or 50% of our total goal.

 

Donation Process:
Donors should make their checks out to the IFEA Foundation (a 501(c)3 organization), ensuring the tax-deductibility of their donation (in the U.S.) and send them to:

 

“Fund for the Future”

IFEA Foundation

2603 Eastover Terrace

Boise, Idaho 83706

 

Credit Card Donations may be made by calling Bette Monteith, IFEA Finance Director at +1-208-433-0950 ext. 812.

 

 

Current Joint Board Fund-Raising Campaign Committee:

 

Wright Tilley, CFEE

Executive Director

Watauga County Tourism Authority Development Authority

 

Joe Vera, CFEE

President / City Manager

Borderfest / City of Hidalgo, Texas

 

Jeff Curtis

Executive Director

Portland Rose Festival Foundation

 

Tom Bisignano, CFEE

Owner / Producer

Meeting Biz

 

Jim Holt, CFEE

President / CEO

Memphis in May International Festival

 

Mike Berry, CFEE

President / CEO

Kentucky Derby Festival

 

Eric Martin CFEE

President & CEO

Music for All, Inc.

 

Kay Wolf, CFEE

Assistant City Manager

City of Hidalgo, Texas

 

Johan Moerman

Managing Director

Stichting Rotterdam Festivals