Fund Development Committee
Terms of Reference
Mandate
The Committee will focus on fund development as a means of mitigating financial risk and opening financial opportunities. They will participate in the development of financial, charitable, and investment discussions to ensure there is strategic advice and direction on the OLA’s fundraising strategy strategies, ensuring that there is adequate security over the organization’s funds and their accounting records.
Responsibilities and Deliverables
The Committee shall have responsibility of working with the Director of Operations to develop charitable programming in order to increase revenue sources and charitable impacts of the OLA. This includes:
- Providing comprehensive advice on fund development.
- Providing expertise and strategic advice on charitable and fundraising strategies.
- Reviewing each of the Funds Terms of Reference, according to the required schedule, to determine if these still align with the OLA priorities and values, and if any changes should be recommended to the Board.
- Providing expertise and strategic advice on financial investments.
- Monitor and evaluate the fundraising strategy once it is adopted.
- Identify existing and potential donors.
- Identify and communicate potential funding opportunities.
- Advise and approve a workplan for the annual campaign.
- Create and review fund development policies and procedures.
- Support the OLA fundraising efforts.
- Provide a biannual report to the Board pertaining to risk and growth opportunities.
- Support the Audit and Finance Committee in auditing and year end needs as it pertains to Funds and Charitable giving.
Composition
The Board will appoint:
- Between two (2) and five (5) members from any division (including Board members)
- The OLA President is ex-officio on all Board committees.
- Director of Operations (ex-officio, non-voting) providing guidance and resources.
- Director of Education and Impact (ex-officio, non-voting) providing guidance and resources.
- At no time should the Board membership on this committee exceed 50% of overall membership (Board quorum).
- When deliberations are being made for Board appointments, a diverse complement will always be the goal. This includes voice, region, or sector represented.
Qualifications
Whenever possible, members of the Committee shall possess investment and/or fundraising expertise. All of the members of the Committee shall be financially literate or acquire such financial literacy within a reasonable period. Financial literacy is defined as having the ability to read and understand financial statements.
Resources and Budget
This committee has access to funds which are defined in the Board approved annual budget. All financial management will be conducted for the Committee by the Director of Operations. Should a need arise, the Committee Chair may provide a request for staff support through the staff liaison to the Committee. The Committee Chair may present said requests forward to the Board if the need surpasses availability funds or budget lines.
Expectations & Timelines
Each committee member plays an important role in helping the group fulfill its purpose and support the broader goals of the organization. Members are asked to:
- Contribute their knowledge, experience, and unique perspective to the committee’s work.
- Collaborate with fellow members to help achieve the committee’s mandate as set by the Board.
- Participate actively in meetings where quorum is present and contribute thoughtfully to discussions and decisions.
- Work within the mandate of the Committee and reach out to the Executive Director or Board President if clarification is ever needed.
- Review the meeting agenda package prior to each meeting, and come prepared to engage in meaningful conversation and decision-making. Agendas will be shared at least five business days in advance.
- Make every effort to attend scheduled meetings, and notify the Chair in advance if unable to attend, to help manage quorum and rescheduling needs.
- Follow through on action items by agreed-upon deadlines to support the committee’s momentum and respect everyone’s time.
- Foster a respectful and inclusive environment for all members, and follow the OLA Code of Conduct (G2.2 Code of Conduct Policy and Procedures)
- Support the collective decisions of the committee, even if individual viewpoints might differ.
Committee members can expect to meet virtually (via Zoom) quarterly or as required. Meeting dates and times will be influenced by staff availability and the OLA calendar of events. Occasionally, sub-committees will be formed to focus on specific projects or tasks. Meetings will be called as required by the Committee Chair or by a majority of the members of the Committee, and arranged by the staff liaison. As a Committee of the Board, the President may also call a committee meeting to address pressing business to the Board. Additionally, the Committee Chair (and possible other members) will be expected to make at least an annual report to the Board, more as required.
Type of Committee
☒ Standing Committee (responsible for a specific program or function)
☐ Task Forces (time-limited tasks on a specific topic)
☐ Action Groups (development of a limited program or activity)
Term of Appointment
The Term of Appointment begins when the committee is formed; and re-appointment of members occurs at the January Board Meeting for any Board appointees. Members should sit for a term of 2 years, with the possibility of extending for up to two more years if needed, as approved by the OLA Board. Where possible, the members terms should be staggered for continuity.
Updated: May 2025
