N EWS T ELFA Strategic Management Body Conducts Summer Meeting HE ELFA EXECUTIVE COMMIT TEE met Aug. 3–4 in Sedona, Arizona, to discuss and make recommendations regarding a variety of critical strategic and policy matters impacting the association. The Executive Committee of the ELFA Board is the association’s primary management body. It is led by 2015 ELFA Chairman Bob Rinaldi and consists of the ELFA officers as well as seven members of the Board. The ELFA Executive Committee and Board of Directors have a fiduciary responsibility to serve as stewards of the association and its resources. It is the obligation of the association leadership to act in the best interest of its member constituency, maintain the viability and stability of the organization and, most important, to ensure that ELFA delivers value to its member organizations. association has reached and exceeded its goal for 2015 in terms of number of renewed members and dues revenue. In addition, it was halfway to its new member goal of 60. The Committee also discussed the emergence of alterna-tive finance providers and their potential impact on the equipment leasing and finance industry. ● ● The Committee conducted a debriefing of the 2015 Execu-tive Roundtable, and made some modifications to the 2016 event program, developed by a separate working group of the Executive Committee. (Note: the 2016 Executive Roundtable will be held March 6-8 at the Biltmore in Coral Gables, Florida.) ● ● Staff provided an update on the status of elections to and key activities of the five Business Council Steering Com-mittees. The BCSCs performed well during the first half of the year and BCSC members appear to be engaged and committed to the organization’s success. ● ● The Executive Committee discussed the status of the Foundation’s fundraising efforts and program develop-ment thus far this year. The Foundation appears on track to meet or exceed its $615,000 fundraising goal. In addi-tion, the development of studies and other research ben-efiting the industry is proceeding according to plan. Other matters considered by the Executive Committee were the Emerging Talent Advisory Council activities for the year, a status update of a credentialing feasibility work group, an e-leasing initiative and the emergence and implications of non-standard financing agreements within the industry. The ELFA Executive Committee and Board will discuss these and other relevant issues at its next meeting on Oct. 24 in San Antonio. Comments or questions relating to any of these matters may be directed to ELFA Chair Bob Rinaldi and/or ELFA President/CEO Woody Sutton. The Executive Committee meets in person three times annually to assess the strengths and weaknesses of the as-sociation and make strategic decisions regarding program-ming, policy and budget priorities covering the near and long term. The following is a summary of some of the key issues considered by the Executive Committee at its August gathering. ● ● ELFA staff presented the Executive Committee with a slightly modified three-year strategic plan and a detailed plan of work and budget for 2016. The Executive Commit-tee approved and forwarded these planning documents to the full Board for its consideration at its upcoming meet-ing in October. ● ● Treasurer Jud Snyder reported that the association was on track to end the year with a small surplus. The precise size of this surplus will be directly related to the success of the 54th ELFA Annual Convention in San Antonio, Oct. 25–27. (In a separate presentation to the Executive Committee, VP-Business and Professional Development Lesley Sterling reported that San Antonio Convention registration at this point appeared strong.) Executive Committee members discussed a number of budget matters, including annual membership dues revenue, the association’s investment and reserve policies and the overall financial condition of the organization. The overriding goal is to keep the associa-tion on firm financial footing and guarantee the near-and long-term viability of the organization. The Board and staff continually monitor internal and external factors such as industry trends, member participation and the broader economy to measure their impact on the association and its ability to continue to deliver value to members. ● ● The Executive Committee received a detailed report on the status of membership and member engagement lev-els. Staff reported that, as it did last year at this time, the 4 OCTOBER 2015 EQUIPMENT LEASING & FINANCE MAGAZINE SHUTTERSTOCK/ JOSEMARIA TOSCANO