TACCGC 2nd Board Meeting Report

Date: 10/12/2025, 4 PM

Location: OCAC in Chicago/Westmont, 55 E 63^rd St, Westmont, IL 60559

Attendance:

C.P. Chiang, William Lin, Steven Lee, Tim Chen (Proxy Lisa Su), Eric Chang, Ming Wu, Weil Wu (Proxy Lisa Su), Cathy Wang, Robert Lu, Lisa Su, Monique Hsu, Eric Lin, Pinpin Lee, Byron Yang, Daniel Tu, Jay Lin, Percy Wang, Victor Chen, Sam Hsieh (Proxy), MayJune Chen, Wei-Yao Sung, Kenny Tsai, Lynn Chang (Proxy Lisa Su), Allen Hsu, Claire Wu, Jeremy Wang

Discussion:

1. Treasurer Report – Lisa Su (Sally Chang is on vacation)

• Gala Project Assign
  • Event Date: 1/31/2026 Saturday
  • Event Location: Medinah Country Club
  • Group Division and Team Lead
    • Program Team – MayJune Chen
      • Focus on local performers
    • Prize Team – Monique Hsu
      • Sponsorship for the event
      • Raffle Prize
      • Advertising – Program book
    • Marketing Team – Percy Wang
    • Ticket Team – Lisa Su
    • Reception Team – Robert Lu and Kenny Tsai
    • Logistics Team – Victor Chen
  • Time Frame
    • All team leads will find their members and have their own meetings
    • 1^st group meeting – 11/30/2025
    • 2^nd group meeting – 12/28/2025
    • 3^rd group meeting – 1/10/2026

• Regulation Committee Presentation – Victor

TACCGC Funds Management Policy

Purpose and Scope: This policy establishes a framework for approving, allocating, budgeting, and reporting all funds raised by TACCGC. The primary goals of this policy are:

● Alignment with Mission: Ensure every expenditure directly supports TACCGC’s core purpose and strategic objectives, preventing mission drift.

● Transparency and Accountability: Provide general members, donors, and the Board with clear insight into how funds are spent, fostering trust and reducing the risk of misuse.

● Resource Optimization: Guide prioritization, making sure limited funds are invested in high-impact activities that maximize returns against TACCGC’s objectives.

● Donor Confidence: Demonstrate responsible stewardship of contributions, encouraging repeat giving and partnerships by showing donors their money is well managed.

● Strategic Planning and Sustainability: Link short-term budget decisions with long-term financial health, ensuring TACCGC can always continue delivering on its mission.

This policy applies to all Board members and staff of TACCGC, as well as any committees, volunteers, or contractors involved in fundraising, budgeting, or disbursement activities.

2. Roles and Responsibilities

● Board of Directors

○ Approves annual fundraising targets, overall budget allocations, and any expenditures above established thresholds

○ Reviews quarterly and annual financial reports

● Finance Committee and/or Treasurer

○ Drafts detailed annual budget and facilitates budget reviews for Board approval

○ Monitors cash flow, reserves, and adherence to policy and approved allocations ○ Executes disbursements as authorized by the Board

○ Maintains accounting records and prepares financial reports

3. Definitions

● Fundraising Dollars: Revenues generated through TACCGC’s membership dues, sponsorships, ticketed events, grants, and donations (including Board contributions). Fundraising Dollars can be classified as Restricted Funds or Unrestricted Funds.

● Restricted Funds: Funds designated by donors for a specific program or purpose.

● Unrestricted Funds: Funds without donor-imposed restrictions, available for general use.

4. Allocation of Funds

TACCGC’s annual use of Unrestricted Funds will be allocated as follows, unless otherwise amended and approved for a specified fiscal year by a majority of the Board. Formal expense budgets may be reviewed at a more detailed level (e.g., by subcategory or event).

Fund Category	Allocation	Purpose
Core Programs & Services	70%	Trade missions, networking events, educational workshops
Outreach & Marketing	10%	Website, social media, promotional materials
Administration & Overhead	10%	Office and meeting expenses, technology subscriptions
Contingency & Reserves	10%	Operating reserve, strategic investments, future projects

Restricted Funds must be tracked separately and used exclusively for their intended purpose.

5. Approval Framework

● All budget lines must be submitted to the full Board for review at least 30 days before the start of the fiscal year or event. Approval of budget lines requires agreement by a majority of the Board at a formal meeting with at least two-thirds of members attending.

● Any material amendments or expected variances to previously approved budget lines (variance >10%) must be approved by a majority of the Board.

● Any single expenditure or commitment exceeding $10,000 requires Board approval.

● TACCGC’s President may approve single expenditures or commitments up to $10,000 if it conforms with the approved budget and notwithstanding other conditions of this policy.

● Purchases of goods or contracts for services over $10,000 require competitive procurement, which would be deemed satisfied by at least three written proposals.

6. Transparency and Reporting

● Budget variances and reserve balances must be reviewed by the Board quarterly.

● Annual financial reports must be published to general TACCGC members and donors (accessible online or by mail) at the conclusion of each fiscal year, disclosing:

○ Fundraising Dollars by category

○ Breakdown of expenditures by category

○ Reserve fund status and any strategic investments

○ Use of Restricted Funds by purpose

7. Savings and Reserves

● All reserve funds, including allocated funds not yet spent, will be held in low-risk, liquid instruments (e.g., money market accounts or short-term treasuries) accessible only to the Treasurer and TACCGC President.

8. Policy Review and Amendment

● This policy will be reviewed annually by the Treasurer and/or Finance Committee. Any amendments require a majority vote of the Board of Directors.

• Motion
  • Social Media Regulation discussion in the next board meeting – MayJune Chen