NBEA's April 7, 2020 Executive Board Meeting News
Thursday, April 16, 2020
Posted by: NBEA
NBEA’s Executive Board of Directors met on Tuesday, April 7, 2020, as part of the annual convention. The Board met to discuss a wide variety of topics. Below is a summary of each of the initiatives moved by the Executive Board.
Congratulations to new NBEA leadership, Keith Hannah, NBEA’s new President-elect. Keith is a long-time NBEA member and member of the Western Business Education Association. Keith is from the Greater Seattle, Washington Area. Congratulations also go to Dr. Elisha Wohleb from Auburn University, who will be representing the Southern Business Education Association on the NBEA Board. Dr. Michelle Taylor, from Mississippi State University, was chosen to represent the International Society of Business Education on the NBEA Board of Directors.
A motion passed to consolidate restricted funds and eliminate those that are no longer in use. Funds that discontinued will have their balance absorbed back into the NBEA general fund. NBEA will also be moving forward with a plan to develop a policy governing restricted funds.
The Board voted to fund 100% of the expenses associated with regional NBEA Board member travel and other related costs reducing the responsibility of regions. Also, NBEA has agreed to fund features on the new NBEA website that will assist regions in communicating with their respective members. As part of this move, the regional annual rebate program is discontinued effective immediately. The rebate program was based on inaccurate, arbitrary metrics and found to be ineffective. NBEA will be examining other ways to incentivize regional membership in the future.
The Board approved a 2020-2021 annual budget. The budget achieves important priorities for NBEA: 1) invests in new member services and programs that will make NBEA stronger. 2) Aligns dues that accurately reflect that value proposition.
NBEA has operated at annual deficits for almost a decade. With reduced reserves, the Board decided that dues should be relatively low while improving service and enabling the association to operate in the black. NBEA’s Board and new Executive Director implemented new technology and streamlined staff positions to save NBEA more than $379,000 annually. While NBEA made significant progress in reducing expenses, a sizable deficit remained that required a dues adjustment. Also, along with new valuable services such as the NBEA library, professional development opportunities, and website, NBEA will be providing all members with a complimentary electronic copy of the National Standards for Business Education that are due out in July or August of 2020. The Board adjusted annual dues effective July 1, 2020, to the following rates:
Professional Membership $149
Professional Membership (Retired) $75
Professional Membership (Student) $50
Associate Library $169.00
International Associate Library $199
National Business Honor Society - New Chapter Fee – $200 No change
National Business Honor Society – Renewal $100 No change
In harmony with the ABTR, ISBE, and NBHS governing documents, the Board allowed divisions to set associated fees for their membership accordingly. NBEA has also improved financial transparency by posting NBEA’s IRS Form 990s in the Members Only area at NBEA.org.
Under new business, the NBEA Executive Board ordered a complete and comprehensive review of NBEA’s governing documents and those of its divisions. In conjunction with this effort, the Board approved a strategic planning session to be held in August under the leadership of President-elect, Benita Moore. This strategic planning session will be a catalyst for modifying NBEA’s governing documents better to reflect the needs of the association and its divisions.