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Improving Financial Stability Remains Key in 2015

By January 27, 2015 No Comments

By Matthew Farrells, National Secretary Treasurer

Happy New Year! I wish everyone a healthy and prosperous 2015. As I look back on 2014, I’m proud of the accomplishments that have strengthened the financial position of JACL. I attribute our success to several key factors. First, the National Council passed a balanced 2015-2016 biennial budget. Second, we continued to work closely with staff to ensure our financial reporting and forecasting is accurate and timely. Third, we were disciplined in managing our expenses and ensured funds were being effectively allocated to projects critical to the success of JACL.

Now, as we enter a new year, our focus will be two-fold — continue to execute on what we’ve done well in 2014 and seek out opportunities to improve the relevance and financial stability of JACL moving forward.

A key initiative for 2015 is onboarding a new fund development director. This position is critical to jump-start our fund development efforts. With more resources focused on strengthening existing corporate partnerships, identifying new funders and expanding awareness of JACL throughout the community, I anticipate greater potential to raise funds for ongoing programming.

Another key effort is to more proactively identify financial risks, whether it is revenue shortfalls or unanticipated expenses, and quickly engage program managers and owners to mitigate the risks as greatly as possible. To do this successfully, we are working to foster an internal culture that is collaborative and supportive, while putting a structure in place that promotes financial accountability and transparency.

In closing, I’d like to thank the members of JACL for their vote of confidence in my ability to serve as National Secretary/Treasurer. I also owe a big thank you to the staff and my fellow colleagues on the National Board for their continued and steadfast support over the past two and a half years. It’s been a great pleasure to serve, and I look forward to working with members, staff and fellow board members to continue to improve the financial stability of our organization for years to come.