The Board Takes Action (September 2009)

June 2009

Board's Action



Received the financial report as of May 31, 2009.

NASW's total asset position was $14.3 million, a decline of $2 million compared to the same period last year. The decline is attributed to unrealized loss on investments and costs associated with the defined benefit pension plan obligations. Liabilities declined $2.1 million for the same period.

Approved long-term investment resolution.

The board approved a resolution proposed by the Finance committee to recommend new target asset allocations of 60 percent equities and 40 percent bonds and fixed income.

Accepted proposed FY 2009-2010 budget.

Accepted the Finance Committee's recommendation to approve the budget. Total revenues are projected at $19 million, of which 56% is membership dues. The proposed budget is balanced, with revenues equaling expenses.


Adopted resolution and policies.

Four policies to be implemented by NASW chapter boards were approved to meet requirements for the revised IRS Form 990 for tax-exempt non-profit corporations. The policies are Conflict of Interest Disclosure; Whistleblower; Joint Venture; and Document Retention.

Received report and accepted recommendation of Professional Review Task Force.

The Board received a report of the Professional Review Task Force and accepted its recommendation that NASW discontinue the current process of accepting surrogate complaints.

Adopted recommendation of Membership Classification Review Task Force.

The board adopted the recommendation of the Membership Classification Review Task Force to eliminate reduced dues for the International, Guam, Puerto Rico, and Virgin Island chapters effective January 1, 2010.


Notes: An action by the board to "receive" a report does not imply approval of the report in its entirety. Specifically, recommendations for board action included in a report are not adopted unless the board takes specific action to approve them. This list may not necessarily contain all actions the board took and actions that are reported elsewhere in the News.