FIscal Policies handbook
III. INcome Streams
MLA’s income is derived from several sources. The major sources are member dues; subscriptions and sales; royalties; and advertising. The percentage of total income derived from each source fluctuates over time.
Membership dues (regular, paraprofessional/non-salaried/part-time, sustaining, student, associate, retired, corporate, and institutional membership categories) are set by the Board. (Handbook, II. A.5.C.1; paraprofessional category renamed, Board minutes, 05/2013, 04.g)
The dues of the membership classes are set by the Board at the spring meeting as part of the annual budgeting process. (Board minutes, 03/2010, IX.H) Members in all classes shall be offered the opportunity to join IAML upon joining or renewing their membership in MLA. Dues shall be paid to the Administrative Officer or an agent designated by the Board for submission to the Administrative Officer. The membership year shall be from July 1 to June 30. To secure privileges as specified in Article III.D of the Constitution and Bylaws, members must have paid their dues for the current membership year. If a member’s dues remain unpaid for one membership year, the membership shall be considered terminated. (Constitution and Bylaws, Article III.C)
A portion of the amount paid by a Sustaining Member may be deductible on the member’s individual income tax return. Information concerning the eligible amount can be found in the membership directory and will also be provided on the member’s receipt for the payment of dues.
III.B Sales (of Publications and others)
The rate for mailing label rentals is $.20 per name with a $200.00 minimum charge. Those who receive the list electronically will be billed only at that rate. Those who request labels will be billed additionally for label stock, postage, and handling. (Minutes, 02/2013, IX.g) The Business Office charges an additional $25 for those who want printed labels.
Dues and subscription rates are set at the Spring Board meeting as part of the annual budgeting process. (Board minutes, 03/2010, IX.h)
Royalties represent a significant portion of MLA’s annual income. The great majority of these royalties come from electronic distribution of Notes by various vendors. Agreements are governed by contracts between MLA and the vendors. Contracts up for renewal should be reviewed by Notes staff and/or the Notes Contracts Working Group.
MLA sells advertisements in its publications (primarily Notes and the annual meeting program), on the MLA web site, conference web sites (per minutes 09.2014, 09.g), and bills advertisers for those ads. The Business Office sends out invoices, due in 30 days. If an invoice remains unpaid after 60 days, a second invoice is sent out. After 90 days, the Advertising Manager is notified, and he or she will contact the advertiser to determine whether the invoice remains unpaid due to a shortage of funds, an oversight, or unwillingness to pay.
Unpaid debt will be written off as uncollectible and removed from the books after 12 months unless the Business Office and relevant MLA officers determine that a customer is making a good faith effort to pay the debt, in which case it can be carried longer.
Parties who wish to do business with the Association but who have defaulted on debts to MLA in the past must first pay off any old debt, even if it has been written off as uncollectible. Such customers may also be required to pre-pay for future services until the Business Office and appropriate MLA officers determine that they are credit-worthy. (Finance Committee, December 2009)
Fees for exhibits and advertising for the annual meeting are set by the Board at the Spring Board meeting. (See the Advertising Handbook for specific advertising policies/guidelines.)
Rates for advertising in Notes and on the MLA web site do not change annually, but any changes to them are approved by the Board.
Corporate Members and Patrons are eligible for discounts on advertising and exhibit fees.
MLA’s development (fundraising) efforts are overseen by the Development Officer, in consultation with the Board of Directors and the Development Committee, which the Development Officer chairs.
All gifts of stock to the Association are sold immediately upon receipt and deposited to the MLA FUND or other fund(s) designated by the donor. (Board minutes, 09/2008, IX.C)
In general the Board is not opposed to offering premiums, but prefers to use them as a kickoff for a campaign. (Minutes, 09/1991, 06/1993, VII.B.2) Contributions to MLA are not fully tax-deductible if donor accepts a premium. (Minutes, 06/1992, VII.A.3.b.(1)
A portion of the amount paid by a Sustaining Member may be deductible on the member’s individual income tax return.
It is common practice to quietly seek significant gifts that will total 40% of a campaign goal before the official public kick-off of a fund drive. (Minutes, 02/1993, II.1.d.(2)) Target goals for development campaigns should include the capital expenses involved in running the campaign, and capital expenditures made from the operating budget by an equal amount of income. (Minutes, 06/1992, VII.A.3.b.(1))
Members are enrolled in The Orpheus Society for donations at the following levels:
FOUNDER’S LEVEL: $2,500+
PRESIDENT’S LEVEL: $1,000 +
PRESIDENT’S LEVEL members are invited to the Donors Reception with the MLA President during any given annual conference. FOUNDER’S LEVEL members are invited to the Donors Reception with the MLA President during any given annual conference, and will be acknowledged during the business meeting at the annual conference.
The Ostinato Club is a giving circle for those MLA members who would like to donate to the Association on a monthly, quarterly, or biannual, basis. Regular monthly payments may be made by credit card, in any amount starting at $10.00 per month, and may be directed to any of MLA’s endowment funds, or be designated as an unrestricted gift. Members of the Ostinato Club who donate $250.00 are invited to the Donors Reception with the MLA President during any given annual conference.