Minutes of the Finance Committee Meeting

February 9, 2021

Committee: CAPT (R) Mike Covell, CAPT (R) David Lee, and Lt. Col. (R) Ed Brown

- The NCCOC Finance Committee met February 9, 2021 at 1600 hours. Those present were CAPT (R) Mike Covell, Treasurer and COL (R) Jim Brumit, President. Absent was CAPT (R) David Lee.

- Discussion: The $10.00 per incentivized BASIC recruited persons and retention bonuses are no longer offered by National MOAA. They do have incentives for premium and life members. A discussion pursued about what incentives should the NCCOC offer.

- Does NCCOC need to incentivize membership growth? It was suggested that the Council pay $10.00 for each new person recruited; the Council will not use the incentivized recruiting model. If a chapter recruits 25% of their December 31, 2020 CM totals, The Council will pay $15.00 for each person recruited. As an example, if a 100 member chapter should recruit 24 members, it would be paid $240.00. If the chapter should recruit 25 new members, the chapter would be paid $375.00

- The chapters that are establishing, moving or building satellites will need help with expenses. The Council will pay $150.00 per satellite to every chapter that incurred expenses to help defray cost. Coastal Carolina Chapter will get money left over from Eastern closure. Thus, it will not be eligible to receive additional funds to establish a satellite.

- The plan was approved by the committee.

- The plan was also discussed with CAPT (R) David Lee who approved of the plan.

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