1.      Policy Purpose

CMC’s membership is representative of co-operatives and mutuals in Canada and covers a wide range of organizations in terms of type, size, sector, geographical location and financial means. Consistent with the co-operative principles and its strategic direction, CMC wishes to maximize member engagement by extending financial assistance to its members that request and demonstrate a need for financial assistance. 

This Policy applies to all CMC events throughout the year.

2.      Budgetary Allocation

2.1      On an annual basis, the Board of Directors in consultation with Management shall set aside a budgetary envelope per year to financially assist the participation of members.   

2.2       The determination of the annual budgetary envelope shall take into account the following factors:

a.       The amount expensed the previous year for that purpose;

b.       The benefits associated with the increased participation due to the financing;

c.       The number, location and nature of the events planned for the year that require the participation of members;

d.       The capacity of CMC to sustain the expense.

 

3.      Types of Financial Assistance

             Financial assistance can be requested by members to cover the following:

3.1      Event Participation - for Members that Play a Role at CMC Events

For member representatives who play a role at a CMC event (e.g. external members of the Nominating Committee, Resolutions Committee and Awards Committee), upon completion and submission of the appropriate Subsidy Form:

  • A subsidy on the event registration fees of up to the total registration fee.
  • A subsidy on accommodation/travel of up to $400.

3.2      Event Participation - Other Members

For other member representatives, upon completion and submission of the appropriate Subsidy Form:

  • A subsidy on the event registration fees of up to the total registration fee.
  • A subsidy on accommodation/travel of up to $400.

Unless approved in advance by the CMC Board, financial assistance will not be granted to the same organization for more than 3 years to encourage the organization to become financially independent.

3.3    Other Financial Assistance

Under exceptional circumstances, a member may ask the Board of Directors for a one-time financial assistance for its membership dues.

 

4.      Process

 

4.1       A member shall request financial assistance to CMC by completing and submitting the Subsidy Form at least 4 weeks in advance of the event.

4.3       CMC shall grant the requests on a timely basis in accordance with this policy.

4.3       Management shall monitor the year-to-date costs incurred as per this policy and report the total to the Board on a quarterly basis.

5.      Reporting

5.1       Management shall prepare on an annual basis at budget time a report of the financial assistance extended to members and submit it for the consideration of the Finance and Audit Committee and the Board of Directors.

 

DOWNLOAD THE FIANCIAL ASSISTANCE REQUEST FORM

 

History

Approved by the Board on April 21, 2015.

Approved by the Board on November 24, 2015.

Approved by the Board on February 13, 2017 – Policy to take effect on June 23, 2017.

 

Review Period

To be reviewed annually.