GLPTA Funding Team Review

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GLPTA Funding Team Review
February 23, 2006 Regional Meeting
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Mission
Mission The Funding Focus Team exists to provide
assurance that the GLPTA revenue meets or exceeds
forecasted expenses.
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Team Members

• Larry Zieke, SC Johnson
• Lyn Knapp, Education and Training Connection,
  Education Co-Chair
• Tom Deits, Lansing Community College
• Don Carmody, Cabot Corporation
• Kathy Brandt, Dow Chemical, Industry Co-Chair

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Goals through 2006/2007

• Be recognized as a legitimate non-profit entity
  by June 30, 2006 to enable collection of
  charitable contributions.
• Champion Don Carmody
• 2006/07 Goals
• Complete filing and approval of articles of
  incorporation as non-profit entity from the State
  of Michigan Filed and received from the state.
• Obtain 501(c)(3) status from IRS Filed and
  under review status with the IRS.
• Establish local financial services partner
  Check and savings accounts established with local
  bank.

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Goals through 2006/2007
Develop and present 2006/07 GLPTA budget by June
1, 2006 - Done Champion Don Carmody 2006/07
Goals Develop quarterly financial reporting In
progress Collect estimates of funding necessary
for fulfillment of organizational goals from
Focus teams and the Executive Committee In
progress. In conjunction with the Executive
Committee, prioritize requests for funding to
align approved activities with budgetary
constraints and organizational goals One
request received and funded (web site) Review
sources of revenue (contributions and grants) -
2500 in contributions received 10,000 in
contributions committed. Develop auditable
financial record system - pending Obtain license
to solicit funds In progress
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Goals through 2006/2007
Sponsor and fund GLPTA activities and objectives
as prioritized by the Executive and Steering
Committees. Champion Kathy Brandt 2006/07
Goals Raise short term funding for the
remainder of FY05/06 to cover legal and
promotional expenses Some contributions
received letters mailed to recent meeting
attendees Establish contribution recommendations
and communicate organizational needs to enable
funding of the FY06/07 budget - Ongoing Develop
plan to assure adequate funding for future
efforts - Ongoing
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Goals through 2006/2007
Identify and recommend activities that will
generate short and long-term funding. Champion
Lyn Knapp/Tom Deits 2006/07 Goals Evaluate,
select and prepare grants from private
foundations in Midland area Will need 501c3
status first. Develop plan for contributions
including schedule, format, and documentation
pending Apply for a NSF grant in FY07/08 -
pending Identify and evaluate other funding
sources- ongoing Serve as a clearinghouse for
funding opportunities for our partners -ongoing
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Requests

• Although we dont have official 501c3 status,
  donations can still be received and can be
  claimed as tax deductible since we will receive
  this status in 2006.
• We would like to have more industry and education
  partners join this team!
• CONTACT
• Kathy Brandt KABrandt_at_dow.com
• or
• Don Carmody Don_Carmody_at_cabot-corp.com