The NACVA Boards consist of those individuals elected by the membership or assigned by the EAB and designated the responsibility to oversee areas of activity deemed critical to the integrity and credibility of the Association. Particularly, this includes membership qualification, quality of education, and certification criteria. Their purview includes the formation and recommendation of policy to govern the Association’s affairs. In carrying out these responsibilities, the EAB assists and oversees the activities of Boards. A Board member’s term, as prescribed in NACVA’s Bylaws, is for three years.
To assure the integrity of the Association, NACVA members oversee key aspects of NACVA’s Charter. The mechanism to provide member oversight consists of five Boards to oversee Association activity in critical areas having the greatest impact on a member’s livelihood. Most Board positions are elected by NACVA’s general membership as indicated below:
The first quarter of each calendar year, a Nomination Form is made available to each NACVA member to provide the opportunity to submit one nomination (a member may nominate him or herself) and to identify on which Board the nominee is recommended. Before nominating someone for a position, one should verify the member wants to be nominated and that he or she will be committed to serving on that Board for a three-year term. Encourage him or her to submit a curriculum vitae or biography to HQ for publishing on NACVA’s website during the nomination/election process. After nominations are received, an election ballot will be prepared and sent to the membership for voting.
Other Elements Pertaining to the Boards
- The EAB is accountable to NACVA’s Board of Directors, whose composition is determined by the shareholders of NACVA.
The Board of Directors has the ultimate veto power over changes approved by the EAB, but must report its decisions to reverse EAB decisions in the Association News within 60 days of the veto.
a) The EAB and the Board of Directors cannot initiate changes that fall under the purview of the VCB, EOB, LFB, or SDB, other than by suggestion. There is an exception where the EAB and/or the Board of Directors can initiate changes on behalf of one of these Boards where, in their discretion, the change is in the best interest of the Association, required in the pursuit or maintenance of the accreditation sponsored by the NCCA, ANSI, or other body for either the CVA or MAFF credential, or time is of the essence and the Board has not been responsive.
b) The EAB and the Board of Directors each have the authority to request a survey of the membership.
Each Board votes on its own Chairperson and Secretary.
a) Board members can serve as Chair for one year during their term.
b) Second terms as Chair are subject to EAB approval.
- The determination of fees and charges remains under the purview of the Board of Directors.
The shareholders of NACVA can sit on the VCB, EOB, LFB, or SDB meetings, or have a representative present, in a non-voting capacity.
• NACVA HQ may also assign a representative(s) to attend meetings of the Boards, in a non-voting capacity.
Board Member Responsibilities
It is important to note that Board positions are voluntary. Minimum expectations are provided to assure interaction between members, keep Boards on a forward-moving path, provide a structure for carrying initiatives to conclusions, and keep members involved by giving them a voice in Association matters. Expectations for individual Board members are as follows:
- Commit to spending at least 40 hours on Association matters per year.
- Attend NACVA and the CTI's Business Valuation and Financial Litigation Super Conference.
- Participate in all Board conference calls/meetings (generally held on the same day/time each month).
- Act as a liaison to at least one Committee or Task Force.
- Contribute to one Board Update article per year for publication in the quarterly Association News.
- Each fiscal year, Board Chairs should create their own set of Board expectations that could be added to this list. This could also include yearly goals.
NACVA Board and Committee Organization Chart
Board Member Benefits Package
Board members will not be compensated for their position and will have to pay out-of-pocket expenses for travel (car, taxi, bus, airline, etc.), lodging, meals, phone, Internet, and postage. However, NACVA does provide the following benefits package for Board members during their term(s):
- Free Membership Dues during his or her term.
- 30% additional discount off the already 10% discounted member Registration fee* for our Business Valuation and Financial Litigation Super Conference (early registration discounts also apply, though the additional discount does not apply to CAP or CUV).Promotional Credit Vouchers (CV), Universal Bucks (UB), and Pacesetter Points (PP) can be used; however, only one CV or UB certificate may be redeemed per registration. Where PP are used, no CV or UB may also be used, and vice-versa.
- Free Registration to the Business Valuation and Financial Litigation Super Conference to the Chair of each Board during the year in which he or she serves as Chair (non-transferable, and does not apply toward CAP or CUV).
- 10% additional discount off the already 10% discounted member prices* for products, services, and training, but only where the 10% member discount applies (unless otherwise indicated); no other discounts apply.
- A free Gold level subscription to KeyValueData (KVD™) (value: $745), or a Platinum level subscription to KVD for only $495 (normally $1,545), or a Titanium level subscription to KVD for only $1,095 (normally $2,795).This benefit is in effect during such board member’s term up until his or her first renewal after the term ends.
- No discount is available for individual databases, unless one is a subscriber to KVD.
- If member purchases any of the Ultimate packages, i.e., Triple Play, Titanium, Software, or Training and Membership Subscription, he or she receives a 10% discount off the regular monthly payment. The discount is reduced to 5% off the Ultimate package where the 12 monthly payments are paid in advance because advance pay pricing is already discounted 10%.The Ultimate benefits described here supersede the dues and training benefits noted above. No other Ultimate promotional discounts apply.
- HQ will pay for all NACVA Board member conference calls so long as a quorum and a NACVA staff member are present, and complete minutes of the meeting are taken and provided to HQ and the EAB liaison following each meeting.