Minimum Standards and Best Practices Guide

for Chapters

Industry Engagement and Member Services

Leadership Support

Administration

Financial Management

$$$

Updated 01/14

Financial Management

Bank AccountKey Financial Documents

BudgetFinancial

Reporting/Review

Investments

$

Accounting Standards/Policies Reserves

Leadership Support

Succession Plan Strategic Plan

Executive Council

National Meeting

Participation

Leadership at National Level

Leadership Mentoring/Recognition

Annual Plan

Training for Chapter Leaders

Industry Engagement and Member Services

Credential Awareness

CPM Candidate Guidance/Mentoring

Engaging the Industry

Content CreationRecruitment

Partnering with Other

OrganizationsScholarships

IREM Foundation

Academic Outreach

RetentionCommunity

Service

Chapter Communicatio

n

Chapter Seminars

Legislative Outreach

Industry Partners

x + y = z

Chapter Events/Program

s

Career Guidance

Surveying Members IREM

EducationPublic

Relations

H E L P W A N T E D

$$$

Administration

Elections

Risk Management

Governance DocumentsIncorporation

Crisis Management

Antitrust Policy

TaxesEmployment/

IAE Supervision

Membership Notices

Social Media Policy

Software Licenses

Data Security

Trademark Usage/Brandin

g

Database Management Contracts

H E L P

Bank Account

Minimum Standards• Adopts and enforces a policy on who has and should

access accounts – includes recommendation on when changes should be made

• Adopts and enforces a policy on online banking including transferring money between accounts and who has authority, when applicable

• Includes in minutes the signor on bank accounts each year• Banks with an FDIC insured bank• Includes a bank contact information sheet with

information on accounts – how many, where are they, who has access to the accounts, who is the signor

• Adopts and enforces a policy on deposits including check retention if using scanners, timeline for deposits (i.e. 24 hours from receipt, handling of cash, etc.)

Best Practices• Has awareness of online banking – although not a

requirement to utilize online banking. If using, be sure to follow accounting best practices

Bank Account

$

Return to Main Menu

Return to Financial Management

Key Financial Documents

Minimum Standards• Maintains accurate financial records• Audits financial statements regularly• Establishes and maintains a chart of accounts• Adopts and enforces document retention rules

(financials, payables, bank statements, employee benefit documents)

Best Practices• Adopts and maintains a manual on accounting and

financial policies and procedures that is reviewed and updated regularly

Key Financial Documents

Return to Main Menu

Return to Financial Management

Budget

Minimum Standards• Executive council understands the assets of the

organization and approves the budget annually which is noted in the minutes

• Executive council is conversant in budget and finances and knows the ratio of dues to non-dues revenue

• Has a year-end cash positive outcome • Submits the budget to IREM HQ by the deadline

Best Practices• Ensures income exceeds expenses• Follows best practices on budget format – including a

detailed list of income and expenses

Budget

Return to Main Menu

Return to Financial Management

Financial Reporting/Revie

w

Minimum Standards• Has defined policy for financial reporting to chapter leaders

and members• Executive council receives and accepts financial statements

(balance sheet, income/expense statements, budget comparison report with budget variance comments, bank statements, bank reconciliation, general ledger) at every meeting and is noted in the minutes

• Has financial reports that are cash-based• Forms an internal audit committee that does not consist of

executive council members to review financials periodically

Best Practices• Adopts and enforces a policy on conducting an audit,

review or compilation by an independent financial auditor• Conducts and annual review/audit by a CPA who specializes

in non-profits or associations – if not every year, then every other year

Financial Reporting/Review

Return to Main Menu

Return to Financial Management

Investments

Best Practices• Establishes a basic policy including:– investment objectives– an asset allocation model– investment restrictions– reliance on outside investment advisers– annual review of policy

• Tracks maturity dates

Investments

Return to Main Menu

Return to Financial Management

Accounting Standards/Policie

s

Minimum Standards• Adopts and enforces safeguards and policies to protect

assets• Adopts and enforces a policy on check signing and

credit card usage• Adopts and enforces a policy on reimbursement of

funds and documentation by receipts• Adopts and enforces a policy regarding credit card

points/credit card bonuses/travel miles

Best Practices• Works with a CPA who specializes in non-profits or

associations • Has awareness that the CPA counsels the executive

council and is not a member of the staff

Accounting Standards/Policies

Return to Main Menu

Return to Financial Management

Reserves

Minimum Standards• Adopts and enforces a policy for savings/reserves –

note: IREM HQ policy is 33-50% of budget• Adopts and enforces a policy on when and how much

money can be taken out of reserves and who can approve

• Sets a reserve goal and evaluates annually

Reserves

Return to Main Menu

Return to Financial Management

Succession Plan

Minimum Standards• Maintains a defined line of leadership succession• Adopts and maintains a leadership organizational chart

which clearly defines how to volunteer and elevate positions within the chapter

Best Practices• Has first time volunteers in leadership positions• Identifies new volunteers often– Keeps an ongoing list of interested volunteers to

refer back to often– Continues to track current volunteers service– Create a volunteer pool that tracks potential leaders

• Conducts a volunteer recruitment event annually

Return to Main Menu

Succession Plan

Return to Leadership Support

Strategic Plan

Minimum Standards• Maintains and follows a strategic plan that mirrors

IREM's national plan that is reviewed and updated annually

• Creates tactics/performance measures that includes delegation, deadlines, accountability and metrics

Best Practices• Performs an environmental scan – Reviews external and internal influences of the

organization– Performs a SWOT analysis – identifying strengths,

weaknesses, opportunities, and threats

Return to Main Menu

Strategic Plan

Return to Leadership Support

Annual Plan

Minimum Standards• Breaks down the strategic plan into a one year action

plan to monitor goals• Has written committee goals• Aligns committee work with strategic goals• Submit goals to IREM HQ by deadline

Best Practices• Adds a “Plan Champion” – an executive council

member assigned to monitor and report on plan progress

• Meets or exceed chapter goals

Return to Main Menu

Annual Plan

Return to Leadership Support

National Meeting Participation

Minimum Standards• Current chapter president or other designated chapter

officer attends both national meetings• Contributes to the regional subsidy for the RVP to

attend both national meetings• Adopts and maintains a travel policy for volunteers and

IAEs that includes responsibilities to attend specific events/meetings

Best Practices• Supports other chapter representatives to attend both

national meetings – fully or partially subsidized by the chapter

• Participates in national committee meetings when attending

• Reaches out to all chapter members attending a national conference in advance to welcome them, engage them, and set up a meeting point as needed

Return to Main Menu

National Meeting

Participation

Return to Leadership Support

Executive Council

Minimum Standards• Meets upon the call of the president, at such times and places as the

president may designate, or upon demand of a majority of its members

• Holds a minimum of four Executive Council meetings with a quorum (majority of the council members)

• Supervises, controls, and directs the affairs of this chapter and determines its policies or changes therein within the limits of the bylaws

• Reviews bylaws annually and submits amendments to IREM HQ• Reviews chapter structure, organizational chart and executive council

responsibilities/duties/authority annually• Officers and executive council members understand response to

disclosure can range from documentation to request for recusal or resignation

• Distributes conflict of interest forms at the beginning of each term• Adopts and enforces a confidentiality policy• Adds conflict of interest disclosure at the beginning of each executive

council meeting agenda

Best Practices• Holds more than four executive council meetings with a quorum

Return to Main Menu

Executive Council

Return to Leadership Support

Training for Chapter Leaders

Minimum Standards• Maintains officer and committee job descriptions that

are reviewed and updated annually• Conducts annual officer/committee chair orientation• Appoints committees based on chapter bylaws• Creates a leadership "manual"/portal on

website/memory stick that includes governance documents and any other critical documents

• Reviews volunteer/chapter liabilities with volunteers

Best Practices• Current chapter president and other chapter leaders

participate in chapter leader webinars organized through IREM Headquarters

• Committees supplement the work of the executive council and staff

Return to Main Menu

Training for Chapter Leaders

Return to Leadership Support

Leadership Mentoring/ Recognition

Minimum Standards• Awards various member of the year recognitions, when

warranted• Recognizes outgoing officers and volunteers

Best Practices• Has an active leadership mentoring program• Creates a mentor program for keeping current

volunteers on track with goals• Evaluates and coaches volunteers

Return to Main Menu

Leadership Mentoring/Recognition

Return to Leadership Support

Leadership at National Level

Best Practices• Supports chapter members and/or IAE to be active at

the national level• Promotes

national volunteer interest forms and available national volunteer opportunities

• Encourages chapter leaders to pursue and apply to serve as a regional vice president

• Supports and funds governing councillors

Return to Main Menu

Leadership at National Level

Return to Leadership Support

Recruitment

Minimum Standards• Actively recruits new members

Best Practices• Prospects for new members• Conducts corporate and academic outreach• Conducts

membership recruitment events, mailings, telemarketing

• Hosts a membership drive - bring a friend event• Participates in IREM HQ growth activities• Follows best practices shared by other chapters and

IREM HQ to help with membership growth and engagement

Return to Main Menu

Recruitment

Return to Industry Engagement

Credential Awareness

Best Practices• Encourages promotion of the CPM, ARM, and ACoM by

members by wearing their pin and adding their designation to their e-mail signatures and business cards

• Participates in the credential awareness program offered through IREM HQ

Return to Main Menu

Credential Awareness

Return to Industry Engagement

Engaging the Industry

Best Practices• Hosts/sponsors a

non-credential IREM seminar or workshop• Hosts an industry forecast event• Offers a networking event - golf outing, property tour,

etc. open to all practitioners• Conducts outreach to allied organizations i.e. architects,

mortgage bankers, brokers, accountants

Return to Main Menu

Engaging the Industry

Return to Industry Engagement

Content Creation

Best Practices• Shares knowledge/information generated by chapter

programs with the rest of the Institute and industry• Expands/enhances existing program to reach a broader

audience - not just your chapter members• Identifies chapter members that can serve as industry

experts outside of your chapter • Utilizes website, eBlasts, newsletter to deliver

knowledge to not just chapter members

Return to Main Menu

Content Creation

Return to Industry Engagement

Partnering with Other

Organizations

Best Practices• Participates in other local industry tradeshows• Collaborates with other industry associations in joint

event/programs

Return to Main Menu

Partnering with Other

Organizations

Return to Industry Engagement

Chapter Events/Programs

Minimum Standards• Holds a minimum of four chapter meetings where IREM business is

conducted• Sends notice of chapter meetings to all members at least 2 weeks prior to

scheduled dates• Has programs and/or activities that are geared toward attracting a

diverse membership - gender, race, age, etc. • Has programs and/or activities that cater to all property types• Has programs and/or activities geared towards attracting young professionals

Best Practices • Holds more than four chapter meetings where IREM business is conducted• Establishes an annual schedule of all meetings and communicates the

schedule at the beginning of the year• Maintains average member attendance at chapter meetings at 15% of total

membership• Has a "greeting" group/committee that is active at chapter meetings to greet

attendees• Has a special table for invited guests/VIPs at chapter events• Provides name tags for all members and guests at chapter events• Holds an industry forecast event• Sponsors a golf outing• Sponsors a tradeshow• Assists IREM Headquarters in manning a tradeshow booth at an industry

event in your area or assist with planning the IREM conference in your area• Collaborates with other IREM chapters in joint events/programs• Supports international outreach - active chapter friendship agreement, hosts

an international delegation, or assists international delegates at a conference• Promotes and encourage submittals to the Income/Expense Analysis Program

Return to Main Menu

Chapter Events/Program

s

Return to Industry Engagement

CPM Candidate Guidance/Mentori

ng

Minimum Standards• Holds a minimum of one event/meeting specifically for

CPM Candidate guidance

Best Practices• Monitors Candidates' progress and communicates

regularly with CPM Candidates - makes regular contact via phone or e-mail, reviews status reports, offers courses to meet CPM Candidates' needs, informs CPM Candidates of all chapter events, etc.

• Has a CPM Candidate mentor program

Return to Main Menu

CPM Candidate Guidance/Mentor

ing

Return to Industry Engagement

Scholarships

Best Practices• Has a scholarship program with specific guidelines and

awards scholarships regularly• Promotes chapter scholarship programs and recipients

in chapter communications and at chapter meetings

Return to Main Menu

Scholarships

$$$

Return to Industry Engagement

IREM Foundation

Best Practices• Promotes

IREM Foundation scholarships and grant programs in chapter communications and at chapter meetings

• Establishes and contributes to the Chapter Restricted Fund with the IREM Foundation

• Contributes to the IREM Foundation - donation to annual event, ad in the program book, etc.

Return to Main Menu

IREM Foundation

Return to Industry Engagement

Academic Outreach

Best Practices• Donates a chapter library of IREM publications to a

college or university• Participates in high school career days• Meets with local colleges and universities to partner

with IREM• Participates in college/university career days• Has an active student outreach committee or

chairperson.• Supports Student and Academic Membership programs

through chapter events or chapter subsidies• Participates in local college/university real estate clubs

Return to Main Menu

Academic Outreach

Return to Industry Engagement

Retention

Minimum Standards• Contacts all new members upon approval - provides a new

member packet, contacts new member by phone or mail, or has a special event just for new members

• Conducts follow up with members who have not paid national and/or chapter dues

Best Practices• Maintains 85-95% in total membership retention• Has a program designed to scan dropped members and/or hosts

events to re-engage dropped members• Conducts new member welcome program as outlined in the

"New Member Welcome Program for Chapters" designed by the national Membership and Credentialing Committee

• Recognizes members with significant anniversaries via letter, at chapter meeting, in chapter newsletter, and/or on chapter website

• Recognizes member contributions at chapter meetings and in chapter newsletters

• Provides opportunities for all member types to participate in chapter programs and activities

• Provides services/benefits specifically for AMO firms• Provides services/benefits specifically for ACoM or ARM

Members• Provides services/benefits specifically for Associate Members• Has an active ARM committee

Return to Main Menu

Retention

Return to Industry Engagement

Charitable Giving/Communit

y Service

Best Practices• Adopts and enforces a policy that determines process

for approving involvement • Determines how being involved in charitable

giving/community involvement fits into the chapter’s mission

• Participates in a community service program(s) and/or makes charitable donations outside of the IREM Foundation

Return to Main Menu

Charitable Giving/Comm.

Service

Return to Industry Engagement

Chapter Communication

Minimum Standards• Maintains a chapter website that is kept current• Links chapter website to IREM website when applicable

Best Practices• Produces and sends a quarterly chapter newsletter

electronically or by mail• Copyrights original work to indicate property of

chapter, when necessary• Gives credit to other sources when publishing other’s

materials if allowed• Participates in IREM's chapter website program

Return to Main Menu

Chapter Communication

Return to Industry Engagement

Chapter Seminars

Best Practices• Conducts one to four hour seminars sponsored by

chapter - outside of IREM Ed courses• Utilizes the "Workshops in a Box" available on

www.irem.org• Conducts full day seminars - outside of IREM ED courses• Obtains continuing education for chapter seminars• Promotes

IREM professional development seminars and webinars in chapter communications and/or website

Return to Main Menu

Chapter Seminars

x + y = z

Return to Industry Engagement

Legislative Outreach

Minimum Standards• Supports at least one member to participate in

Capitol Hill Visit Day - promotes and encourages all members to participate

Best Practices• Participates in local/state legislative activity - has a

member identified to track legislation, reports to chapter membership, etc.

• Participates in lobby efforts with local or state REALTORs, CCIM or other professional real estate management organizations

Return to Main Menu

Legislative Outreach

Return to Industry Engagement

Industry Partners

Best Practices• Has an active

Friends of IREM/industry partner program

Return to Main Menu

Industry Partners

Return to Industry Engagement

Career Guidance

Best Practices• Supports www.iremjobs.org by promoting in chapter

newsletter, at chapter meetings, and/or on chapter website

Return to Main Menu

Career Guidance

H E L P W A N T E D

Return to Industry Engagement

Surveying Members

Best Practices• Conducts annual or bi-annual membership

satisfaction/needs assessment survey that adequately addresses all membership types

• Addresses member needs assessment survey by adding/changing benefits or services

Return to Main Menu

Surveying Members

Return to Industry Engagement

IREM Education

Best Practices• Conducts IREM courses as a chapter or jointly with

other chapters and promotes offerings to prospects, students and members

• Conducts single or multi-year educational planning with IREM courses to ensure that students can complete required coursework through chapter

• Promotes the online education opportunities in chapter communications

• Utilizes the online Student/Candidate Course Report to determine courses to offer each year to meet the needs' of current students

• Promotes IREM courses of neighboring chapters

Return to Main Menu

IREM Education

Return to Industry Engagement

Public Relations

Minimum Standards• Follows IREM Brand Style Guide in promoting IREM and

its' credentials in all written communications and advertisement

Best Practices• Participates in credential awareness and

membership recruitment programs offered through IREM HQ

• Meets with companies to promote the hiring of IREM credentialed members

• Sends press releases to local media contacts for chapter events, new members, leadership visits, award winners, new IREM products, etc.

• Appears in print as a result of media efforts• Works with local radio stations to run a commercial

about hiring a CPM, ARM or ACoM

Return to Main Menu

Public Relations

Return to Industry Engagement

Incorporation

Minimum Standards• Files articles of incorporation with the Secretary of

State• Sends copies of articles of incorporation to IREM HQ• Renews articles of incorporation annually with the

Secretary of State

Return to Main Menu

Incorporation

Return to Administration

Elections

Minimum Standards• Holds election no later than the fourth Thursday in

September with a notice of the election and nominees sent to members 30 days in advance

• Submits list of officers and key contacts to IREM HQ by deadline

Return to Main Menu

Elections

Return to Administration

Governance Documents

Minimum Standards

• Reviews and updates chapter bylaws regularly and sends a current copy to IREM HQ

• Follows procedures to update chapter bylaws, when mandatory amendments are required

• Adheres closely to the bylaws• Provides proper notice and adoption of unique and

mandatory amendments as need in compliance with bylaws• Maintains and updates regularly a comprehensive policy

manual• Creates detailed meeting agendas• Creates comprehensive meeting minutes that include:– Proof of annual corporate meeting exists– Records of actions, motions and self-serving statements– Decisions made by the executive council– Reflects that executive council members received the

documents• Executive council approves minutes via motion• Safeguards and keeps minutes forever• Understands that minutes are not a newsletter or place to

record notes and/or reminders• Adopts and enforces a policy on limiting the use of audio

recorded meetingsReturn to

Main Menu

Governance Documents

Return to Administration

Crisis Management

Minimum Standards• Has a business continuity plan which includes

passwords, key information, disaster planning information and determines who has access to these passwords other than IAE

• Has an emergency manual for communications and backing up critical documents is maintained outside of the chapter office

Best Practices• Has a succession plan for staff

Return to Main Menu

Crisis Management

H E L P

Return to Administration

Data Security

Minimum Standards• Never keeps credit card numbers• Uses a secure site when processing credit card

payments• Adopts and enforces a confidentiality policy• Uses a secure internet connection and password

protects all databases

Best Practices• Backs up electronic information – includes social media

sites• Has a policy and procedures on the management and

ownership of chapter website domain

Return to Main Menu

Data Security

Return to Administration

Risk Management

Minimum Standards• Has an awareness of what IREM HQ covers and what

additional policies chapters should purchase if necessary

Best Practices• Purchases additional insurance for chapter office• Requests and maintains certificates of insurance

Return to Main Menu

Risk Management

Return to Administration

Antitrust Policy

Minimum Standards• Adopts and enforces a written antitrust avoidance

policy• Records annually in meeting minutes that leaders have

been advised not to violate antitrust laws

Return to Main Menu

Antitrust Policy

Return to Administration

Taxes

Minimum Standards• Files federal and state taxes annually with the IRS and

sends a copy to IREM HQ by May 15 – taxes should be prepared by a CPA and signed by the chapter president

• Executive council reviews Form 990 before submission to the IRS

• Ensures vigilance in understanding laws and filings maintained in a time manner

• Files employment taxes and/or supports IAE• Reports unrelated business income • Retains taxes and back up for seven years• Submits amendments to governing documents to the

IRS with tax return• Reports sales tax to state, if applicable

Return to Main Menu

Taxes

Return to Administration

Employment/ IAE

SupervisionMinimum Standards• Adopts and maintains a job description and personnel manual for IAE• Reviews IAE contract annually• Adopts and enforces a sexual harassment policy for IAE• Adopts and enforces a credit card policy for IAE• Ensures that IAE is bonded• Adopts and enforces a whistleblower clause for IAEs• Adopts and enforces a record retention policy for IAEs• Determines if IAE is employee, independent contractor or using an

association management firm and manages accordingly• Manages IAE payroll• Understands employment laws/compliance in your state

Best Practices• Performs an annual employee review conducted by chapter

president/president-elect including goal setting• Encourages professional development of IAE• Supports IAE to attend national events• Adopts and maintains an organizational chart that depicts lines of

authority, communication and supervision• IAE reviews and is familiar with the IREM website and all reports • IAE attends as many IREM chapter learning webinars as possible• IAE serves as a mentor to other IAEs, when applicable

Return to Main Menu

Employment/IAE

Supervision

Return to Administration

Membership Notices

Minimum Standards• Follows the IREM HQ guidelines for sending timely dues

notices• Reports any unpaid members to IREM HQ by deadline• Includes a non-deductibility notice on all membership

invoices• Sends notice to all members on annual meeting and

nominations as outlined in the bylaws

Return to Main Menu

Membership Notices

Return to Administration

Social Media Policy

Minimum Standards• Avoids antitrust violations and libel • Protects passwords

Best Practices• Adopts and enforces a policy that includes guidelines

and controls for content, copyright and professionalism on social media

• Utilizes chapter guides created by IREM HQ for Facebook and Twitter

Return to Main Menu

Social Media Policy

Return to Administration

Software Licenses

Minimum Standards• Maintains appropriate software licenses and avoids

pirating• Safeguards licenses• Keeps information with business continuity plan

Best Practices• Maintains licenses and follows accordingly for programs

such as Microsoft, database, Antivirus, accounting software, etc.

• Updates products for relevancy

Return to Main Menu

Software Licenses

Return to Administration

Trademark Usage/

BrandingMinimum Standards• Follows the IREM Brand Style Guide for using the IREM

logos correctly• Uses registered trademarks when using the

designations• Uses the chapter signature on your website and

communications provided by IREM HQ

Return to Main Menu

Trademark Usage/Brandin

g

Return to Administration

Database Management

Minimum Standards• Tracks all members with key information in a database -

excel or more sophisticated product• Reconciles database with

IREM HQ online member roster (IAEs can access this after logging in to www.irem.org) regularly to ensure accurate information

• Adds new members to chapter records immediately upon notification from IREM HQ

• Removes dropped members from chapter records immediately upon notification from IREM HQ

• Processes membership applications within the 30 day timeframe, but processes quicker when possible

Best Practices• Tracks non-member prospects and students with key

information in chapter’s database• Tracks birthdates, membership involvement

Return to Main Menu

Database Management

Return to Administration

Contracts

Minimum Standards• Adopts and enforces a policy on who can sign contracts• Retains copies of all contracts including office leases,

equipment leases, employment contracts, etc.• Requires insurance from vendors before signing a

contract

Best Practices• Clarifies what a contract looks like - who signs,

termination clause, etc.

Return to Main Menu

Contracts

Return to Administration