Attendees : JoAnn Lamb, Don Miller, Sam Stratton, Jeff Volenec, Dave Miller

The Finance Committee met to discuss issues related to funding for the NAAIC through the Sustaining Membership Fund (SMF) and the possibility of a long term endowment fund. Since the day-to-day finances of the NAAIC are handled by the Executive Committee and the local arrangements committee for each meeting, the scope of the Finance Committee only includes the SMF and longer term funding for the NAAIC.

1. On the subject of enhancing our ability to collect funds for the SMF, there were ideas of how to improve the process and the scope of the solicitation.

• Enhance communication and visibility of SMF:
• Send a follow up solicitation letter as was done in 1992 and ’94.
• After meetings, have students send thank you letters to SMF companies (one letter with signatures from all. Include with this a copy of the picture of the students and honorary members who received the awards.
• Follow up on where students from 92-96 have gone and tell their stories in a solicitation letter.
• Determine possibilities to expand the benefits of being a Sustaining Member (ie. Increased recognition, advertisement?).
• Allow individuals to donate to the SMF by including it on the conference registration forms.
• AFGC solicits funds from many types of companies (eg. Fencing, pharmaceuticals), we should make another appeal to chemical companies and equipment companies. Perhaps assigning specific members to certain segments for solicitation.
• Solicit other groups such as Field Seed Institute, CASC, USDA, etc.
• Examine the possibility of allowing people to donate Frequent Flyer miles to a student or honorary member.
• Expand knowledge of the program in key Land Grant institutions through contact with administrators and scientist to allow possibilities for donations from individuals or institutions.
• Examine the possibility of soliciting funds from outside North America (Argentina, Australia, Europe, etc). Perhaps these funds could be designated for students from the contributing country. Have key contacts within each country.

2. In discussing the possible uses for the SMF, the committee strongly affirmed that the primary use continue to be aiding the education of graduate students through the travel grant program. Other items of discussion included:

• Continue to offer travel aid to honorary members in the year that they receive recognition. Designate a fixed amount of money to offer to these award recipients.
• Students would be eligible for one grant per degree program.
• Non-North American students are eligible for these awards.

3. A discussion was also held regarding the formation of an endowment fund. Ideas for solicitation and uses of this type of fund included:

• Approach the Noble Foundation as a possible initial donor for the fund (contact either Richard Dixon or ?? Dalrymple).
• Examine possibilities for linking funds with a larger foundation for maximum interest accrual.
• Do a one time push to inform members of the possibility of donating to the NAAIC through estate planning.
• Examine the possibility of soliciting funds from ‘special interest groups’ for the fund such as grazers, biotech organizations, etc.
• An idea of a fund raising auction was given as possible way to help ‘jump start’ the fund. (I’m wondering what an auction at the NAAIC would look like:).
• One possible use for this fund would be to give a designated honorarium for invited speakers.

Respectfully submitted,

Dave Miller

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