Finance Committee

Finance Committee Information

Committee Charge

Objectives:

To ensure the financial stability of the American Anthropological Association through the ongoing assessment and monitoring of AAA’s annual operating budget, investment portfolio, grants and contribution activities, and annual audit report. Periodically develop, review, and/or modify financial and investment policy guidelines and financial performance benchmarks in support of AAA’s long-range plan. Make recommendations, as appropriate, to Executive Board.

Duration of Committee: Permanent

Committee Reports to: The Executive Board

Responsibilities:

  • Establish and monitor specific long term and annual financial performance benchmarks with regard to the investment portfolio, grants and contributions, reserve fund, annual operating budget, etc. in support of AAA’s long range plan.
  • Review and recommend financial and accounting policies (e.g., endowment guidelines, etc.).
    Review and modify, if appropriate, AAA Investment Policy Statement (IPS) Guidelines annually.
  • Review investment performance on a quarterly basis (i.e., formally at the Finance Committee meeting in the spring and fall; informally otherwise) and recommend changes within the IPS Guidelines with regard to asset allocation and investment managers.
  • Review and recommend the annual operating budget.
  • Accept the report of the audit committee at its spring meeting
  • Identify short and long-term fundraising goals, and review and monitor progress against accomplishing those goals.

Membership and Appointment:

  • Chair to be appointed by the AAA President
  • Five (5) other individuals selected by the AAA President for expertise in banking, not-for-profit or corporate finance, accounting, and/or investments is preferred. One of the individuals must be a past AAA President.
  • Ex-officio AAA President
  • Ex-officio AAA President-Elect

Term of Office: Four years except for President and President-elect.

Specific Criteria:
One of the five members must be a past AAA President.

Product: Develop reports, policy statements, and recommend actions to Executive Board

Meetings and Schedule: Semiannually; in spring and fall each year in advance of each Executive Board Meeting

Staff Liaison and Contact Information: Elaine Lynch, Deputy Executive Director and CFO, American Anthropological Association, 2200 Wilson Boulevard, Suite 600, Arlington, VA 22201, (o) 703.528.1902, (f) 703.528.3546, elynch@aaanet.org

Adopted by the Executive Board May 14, 2005.


Finance Committee Members