NAAFA Donations
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NAAFA DATABASE WEBSITE FUND
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Monies donated to NAAFA will either be placed in the NAAFA Member Enhancement Fund (NMEF) or in the newly established NAAFA Database Website Fund (NDW Fund). Because of the urgent need for monies to cover the cost of rebuilding our database and NAAFA website, we would appreciate it if donors would designate most of their contributions to the latter (NDW Fund).
The NDW Fund expenses are somewhat of an unknown at the present time even though bids were received before NAAFA ventured into the process. What we do know is that the cost of updating our website/database will be on-going. When operational issues arise, they must be dealt with and thus the ongoing cost of operating. NAAFA is using an organization for the rebuild that has proven itself as familiar and reliable by other captive agent associations. The NAAFA home office staff, with advice from the NAAFA Board, will determine how the NDW Funds are used.
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NAAFA MEMBER
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Use of the NMEF Fund donations is determined by a Fund Committee appointed by the NAAFA Board President. When a certain need is recognized, the committee will study the situation and make a determination whether in essence the specific designation will in some way benefit all our members. This recommendation will then be presented to the Board of Directors who will make the final decision regarding the use of the MNEF monies.
Generally speaking, the NMEF money will be used for obtaining legal or tax advice. Recently, some accounting issues arose where NAAFA needed the expert advice of a CPA. Some of these fund monies were used to pay for that opinion. NMEF monies are used to pay for the updating of our SECA Kit, an extremely valuable document needed by retiring AmFam agents. Other times, the legal advice or opinion of an attorney might be sought in which case, the NMEF monies might be used for that purpose. The general question that is always asked is, "Will this money be used to benefit all our members in some way?"
The designation of a donation to either the NAAFA Database Website Fund or the NAAFA Member Enhancement Fund portrays a great faith and confidence in the decisions of the NAAFA Board. The donations are greatly appreciated, not only because they indicate your support of NAAFA, but because they indicate that you have recognized the need. NAAFA simply would not exist without the help and support of your donations. Even though NAAFA is a non-profit 501 (c) (6), this type of non-profit does not allow you to deduct your contri-bution(s)
