Finance Committee

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Revision as of 15:59, 19 September 2022 by Dorothea (talk | contribs) (Added the fundraising workshop offered to OSMF board members by Aspiration Tech)

The creation of the committee, named "fundraising committee" and with an initial charter focused on fundraising, was decided in December 2020. The committee was renamed to "finance committee" and its scope was expanded on August 2022.

Charter

The initial charter was approved by the OSMF board on 2022-05-23 and expanded on 2022-08-16.

The Finance Committee gathers financial needs from across OSMF, forecasts budget requirements, develops the strategy for raising funds, maintains donor relationships and coordinates implementation of fundraising plans, and tracks actual spend.

The Finance Committee is open to members external to the Board, in addition to Board members. External members are approved by the OSMF Board. Some portion of the Finance Committee work may be limited to Board members only.

The Committee will communicate among themselves and meet periodically. The Committee will communicate its activities and results in the Treasurer's report at the OSMF Annual General Meeting, maintain minutes of meetings, and may share additional communication about its work from time to time.

What we do

Budgeting

  • Take a multiyear perspective on budget requirements
  • Gather budget needs annually, and on request, from OSMF Working Groups, the Personnel_Committee and the Board
  • Assess needs against available funds, and arrange for approval of budgets by Board
  • Regularly track actual spend

Fundraising

  • Set fundraising targets inline with operational budget set by OSMF Board.
  • Develop fundraising pitch and materials.
  • Maintain relationships with our funders.
  • Organize fundraising drives targeting community members and supporters.
  • Investigate and pursue diversification of funding sources.
  • Coordinate fundraising with other entities in the OSM ecosystem.

Composition of the Finance committee

Board members

Non-board individuals

The non-board individuals were approved on 2022-05-23.

Meetings

  • 2022-09-19 Fundraising workshop with Geoffrey MacDougall (Aspiration Tech), offered to the OSMF board for free. Attended: Mikel Maron, Roland Olbricht and Guillaume Rischard.
  • 2022-05-06