Federation Financial Facts or FedFinFax
Carolyn Nelson, Chair
The duties of the Finance Division include acquainting the membership with the fiscal operations of our 501-c-3 organization. We present workshops, write magazine articles and maintain this part of the website to inform members of our fiscal structure.
Our operations are funded by the general fund; scholarships and awards are funded by over 100 individual funds designated for specific causes. All but the general fund are invested in funds managed by Wabash Capital of Terra Haute, IN. There is an elected investment committee that monitors all investment activities and gets annual fiduciary education.
The Fund for the Advancement of Musical Arts (FAMA) is part of the finance division. FAMA awards grants each year to applicants who show a need to advance the mission of NFMC. New funds for FAMA come from memorial and recognition donations.
The earnings of the NFMC endowment are used to improve NFMC activities. New money comes from Rose Fay Thomas fellowships. Some of these activities include increasing the summer center award funds, funding the NFMC archives, adding to the judging fund and adding to the Music Club Magazine endowment.
The purpose of this tab on the website is to keep members up to date on the NFMC fiscal operation, thus Federation Financial Facts or FedFinFax.
The current Finance Division chair is Carolyn Nelson, past national president (2011-2015)